Understanding Money Line Betting

• The odds for money line bets are usually given as two numbers. One is positive, and the other is negative. The positive number is assigned to the favored team, or the one that is expected to win. The absolute value of the number is the amount that you would have to bet to win $100 over your original bet. For example, if the line (another name for each number) is -150 and you bet $150, you get $250 back if your team wins. The positive number is assigned to the underdog, and it is the amount that you win on a $100 bet. If the line is 150, and you bet $100, you receive $250 back if your team wins. If the teams are evenly matched, then no numbers are assigned. Instead, the lines are given by the word "even."
  
  

Misconceptions

• Often, people refer to the numbers that are given to each team as the money lines. These numbers are actually called lines, while the term money line refers to the type of bet. Sometimes people use the term money line interchangeably with the phrase American odds. This is a misuse that reflects the confusion between line and money line -- money lines are not odds of any kind. Instead, the lines themselves should be called American odds.
  
  

Considerations

• A variety of factors contribute to the lines that bookmakers assign each team. They attempt to accurately reflect the chances that each team will win. The higher returns on underdog bets reward gamblers for taking on the higher risk that comes with betting on the long shot. The teams' past history is an important factor in calculating the lines. News announcements, such as players' injuries or changes in the starting lineup, can also affect the odds.
  
  

The Point Spread

• The point spread bet is a common alternative to the money line bet. In point spread betting, the odds are the same whether you bet on the favored team or the underdog, while in money line betting, they are different. The odds equality is possible because the favored team does not "win" for the purposes of the bet unless it wins by a certain margin. For example, if, in a game between Team A and Team B, Team A is favored, the odds may be given by Team A -3. If you make a point spread bet on Team A, it must win by four points or more for you to win your bet.