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Betting Odds 101

Online sportsbooks provide hundreds of betting options on football, basketball, baseball and hockey games. It can be daunting at first, so we have broken down key bet types. We have also provided examples to help you understand your betting options. 

Sports Betting Options

Football, basketball, baseball, hockey, UFC and soccer are the most popular categories at U.S. sportsbooks. Read on to learn more about betting on each sport.

NFL Betting

The most popular NFL odds betting options include the point spread, total points, the moneyline and prop bets. A new NFL season will begin on Thursday, September 8. The best sportsbooks have already released odds on the full slate of Week 1 games.

The LA Rams will host Super Bowl favorites Buffalo Bills at SoFi Stadium in the NFL Kickoff Game. Below is an example of the NFL betting odds available on the game:

• Buffalo Bills +1 -110 at BetMGM
• L.A. Rams -1 -105 at Bet365

NCAAF Betting

You can find the best college football odds on games at OddsTrader. The new season begins on August 27, with 10 games taking place during Week Zero. This is an example of the NCAAF betting odds available:

• Wyoming vs. Illinois – over 46.5 points (-110) at BetMGM
• Wyoming vs. Illinois – under 46.5 points (-110) at DraftKings

NBA Betting

The country’s leading sportsbooks offer competitive NBA odds. You can bet on point spreads, over/under lines, the moneyline, game props and player props. The 2022-23 NBA season gets underway on October 18. This is an example of NBA betting odds:

• Golden State Warriors +4 -110 at SBK
• Boston Celtics -4 -110 at Bet365

NCAAB Betting

UNC, Gonzaga, Houston, Kansas and Kentucky are the leading contenders for glory when the new college basketball season begins on November 8. Many states prohibit prop bets on college sports, but you should always find a moneyline, total points line and point spread. Here is an example of NCAAB odds:

• North Carolina +4.5 -115 at DraftKings
• Kansas -4.5 -105 at PointsBet

MLB Betting

OddsTrader allows you to quickly find the most appealing moneylines, run lines and totals on every MLB game of the season. You can search for the best odds for the entire game or for the first 5 innings. We provide a wealth of stats to help you make astute betting decisions. This is an example of MLB odds:

• Los Angeles Angels to beat Miami Marlins (+135) at Bet365
• Miami Marlins to beat Los Angeles Angels (-150) at SBK

NHL Betting

You can use the OddsTrader grid to claim the best moneylines, total goals lines and puck lines at the sportsbooks in your state. There is an option to search for the best odds on the full game or each period too. The next NHL season begins on September 9. Here is an example of NHL odds:

• Colorado vs. Tampa Bay – over 6 goals (-105) at Bet365
• Colorado vs. Tampa Bay – under 6 goals (-115) at PointsBet

UFC Betting

We show you the best odds on UFC bouts. You can also compare the best odds on Bellator events and boxing matches, including moneylines and total rounds. This is an example of UFC odds:

• Rafael dos Anjos to beat Rafael Fiziev (+184) at BetMGM
• Rafael Fiziev to beat Rafael dos Anjos (-200) at DraftKings

Soccer Betting

Our soccer section covers MLS, Premier League, La Liga, Serie A, Bundesliga, Ligue 1, Champions League, Europa League and international matches. You can search for the best moneylines, handicap lines and total goals odds. This is an example of MLS odds:

• Philadelphia Union to win (-133)
• D.C. United to win (+380)
• Draw (tie) (+280)

Types of Betting Odds

The most popular betting options are the moneyline, the point spread, totals, prop bets and futures. We have broken each bet type down:

Moneyline

A moneyline wager is a simple prediction on which team will win a game. This is an example of a moneyline:

• Atlanta Braves to beat Philadelphia Phillies (-134)
• Philadelphia Phillies to beat Atlanta Braves (+114)

You can pick which team you think will win and place a moneyline bet on them. You can make your pick with your own handicapping analysis or utilize computer picks as part of your strategy. The odds explain the potential profit available on either team and its implied chance of winning.

A moneyline can also apply to the player that will win a tennis match, the boxer that will win a fight, and so on. This is another example:

• Coco Gauff to beat Sloane Stephens (-172)
• Sloane Stephens to beat Coco Gauff (+142)

The concept is always the same: just pick the winner and place your bet. You will be paid out after the event if you guess correctly.

If you do not know how to read odds, just remember two simple principles:  

• If the odds begin with a minus (-), it explains the amount you must wager to generate a $100 profit. A $134 bet on the Braves would earn you a $100 profit, whereas a $172 bet on Gauff would earn you $100.
• If the odds start with a plus (+), the numbers highlight the profit you would earn by placing a $100 bet. For example, a $100 bet on the Phillies would earn you a $114 profit, while a $100 bet on Stephens would deliver a $142 profit.

Point Spread

This is the most common bet on football and basketball games. Sportsbooks will assign a handicap to the stronger team (the moneyline favorite). That creates a point spread. It allows them to offer similar odds on either team covering it.

This is an example of a point spread:

• San Francisco 49ers -6.5 vs. Chicago Bears (-110)
• Chicago Bears +6.5 vs. San Francisco (-110)

You have two options. If you bet on the 49ers to cover, they need to win by 7 or more points. A bet on the Bears to cover would pay out if they won the game or lost by up to 6 points.

You will find similar bets on other sports, such as:

• A run line on MLB games
• A puck line on NHL games
• Handicaps and Asian handicaps on Soccer games 
• A games handicap on a tennis match

This is an example of a puck line:

• New York Rangers -1.5 vs. New Jersey Devils (+165)
• New Jersey Devils +1.5 New York Rangers (-145)

The concept is the same as an NFL point spread. A bet on the Rangers would require them to win by 2 or more goals. A wager on the Devils would pay off if they won or lost by a single goal.

Sportsbooks offer a main point spread, puck line and run line. However, they also provide lots of alternate lines. They either make things easier for you in exchange for a smaller potential payout or make things harder in exchange for a larger potential payout.

Totals

Sportsbooks set a total points line on every basketball or football game. You can simply bet on “over” or “under”. This is an example of a total points line:

• Dallas Mavericks vs. Phoenix Suns – over 216.5 points (-105)
• Dallas Mavericks vs. Phoenix Suns – under 216.5 points (-115)

If you bet on over, you are predicting that the Mavs and the Suns will combine for at least 217 points during the game. A bet on under is a prediction that Dallas and Phoenix will combine for no more than 216 points.

Once again, you will find all sorts of alternate totals, which skew the odds in different directions. You can also bet on totals for individual halves and quarters, and sportsbooks offer team totals too.

Over/under bets are available on lots of other sports too, including:

• Total runs on a baseball game
• Total goals on a hockey or soccer game
• Total games in a tennis match
• Total rounds in a UFC or boxing match

They all share one thing in common: you do not need to specify which team, player or fighter will win. However, you can combine a totals bet with a moneyline or a spread for a same game parlay if you like.

This is an example of a total runs line:

• Texas Rangers vs. Baltimore Orioles – over 9.5 runs (-108)
• Texas Rangers vs. Baltimore Orioles – under 9.5 runs (-108)

Futures

A futures bet is a long-term wager that runs for an entire season. That means it is not dictated by the result of a single game. The most common futures bets focus on team that will win a major event, such as:

• Super Bowl
• World Series
• NBA Championship
• Stanley Cup
• Champions League

The sportsbooks will assess the quality of every team in the field. They then release futures betting odds on each team’s chances of success. It starts with the favorite, which is often the reigning champion. The odds grow longer as you work your way down the list, until you reach the huge underdogs at the bottom.

There are lots of other futures bets, including:

• A team to win its conference or division
• A team to reach the playoffs or not reach the playoffs
• Over/under on the number of regular season wins a team will secure
• The division or conference that will yield the Super Bowl/World Series winner

You will also find a wide array of futures bets on players, such as:

• NFL MVP
• Heisman Trophy
• Defensive/Offensive Player of the Year
• Defensive/Offensive Rookie of the Year
• Comeback Player of the Year
• Coach of the Year
• NBA MVP
• NL/AL MVP
• Hart Trophy
• Top Goalscorer

There are lots of season specials too. For example, you can bet on the NFL player that will secure the most passing yards, rushing yards or receiving yards during the season.

The odds on these futures bets will change as the season wears on. If a team is on a hot streak, its odds will shorten. If another team loses a key player to injury, its odds will drift out.

Prop Bets

Prop bets focus on a specific aspect of a game. There are three main categories:

• Player Props
• Game Props
• Team Props

These are some examples of player props:

• Over/under on the number of touchdown passes a QB will throw.
• An NBA prop bet on a player recording  a triple double.
• An MLB player to hit a home run.
• An NHL prop bet on a player achieving a hat trick.

Game props can include:

• Will an NHL game go into overtime? Yes/no
• Over/under 12.5 corners in a soccer game
• Will there be a 2-point conversion attempt in a football game? Yes/no

Team props might include:

• The first team to 15 points in an NFL game
• A team to score 3 or more goals in a hockey game
• The team with the most 3-point field goals in an NBA game

Prop bets are not linked to the result. However, you can often combine them with other markets, such as the spread, moneyline or totals, for a same game parlay.

Frequently Asked Questions

How do sports betting odds work?

Sportsbooks release betting odds on thousands of sporting events each week. The odds highlight the profit you would earn by placing a winning bet on a certain market. They also provide an implied probability of each bet succeeding.

How are sports betting odds determined?

Oddsmakers at the leading sportsbooks will weigh up the strengths of both teams. They focus on offensive and defensive capabilities, recent results, head-to-heads, injury news, home advantage and other important factors. The sportsbooks then release odds on either team winning the game and on markets such as total points and props.

How do you better understand betting sports odds?

You can visit OddsTrader to learn more about sports betting odds. Our in-depth guides teach you how to read American odds, decimal odds and fractional odds. We have provided clear examples to help you fully grasp what sports betting odds entail.

What are good betting odds?

You should seek out the sportsbooks that take the lowest house edge on their sports betting lines. The most popular betting options are the point spread and total points, and most sportsbooks offer standard odds of -110 on either side of those bets. If you find a sportsbook offering better than -110 on either side of the wager – such as -108 / -108 – that would represent good betting odds.

What does positive (+) odds mean?

The plus sign tells you the profit you would earn if you placed a successful $100 bet. For example, a $100 bet at +150 would earn you a $150 profit and a $100 bet at +200 would net you a $200 profit.

Why would you bet on negative (-) odds?

The most popular betting options tend to have negative odds. For example, most sportsbooks offer -110 on either side of a point spread or a total points line. It means you will not quite double your money if you succeed, so you need to win around 55% of your bets to generate a healthy profit.

How do American betting odds work?

American betting odds can either begin with a plus (+) or a minus (-). If they begin with a plus, it explains the profit available on a successful $100 wager. For example, a $100 bet at +120 would net you $120. If they begin with a minus, it explains how much you need to wager to win $100.

How do fractional betting odds work?

You can simply multiply your bet amount by the fraction to calculate your potential winnings. For example, if you bet $10 at 5/2 and the wager is successful, you will earn a profit of $25, because $10 x 5/2 = $25.

How do decimal betting odds work?

Decimal odds highlight the total return you would earn from a winning bet. That includes your profit and the return of your bet amount. For example, a $10 bet at 4.50 would return $45, which encompasses a $35 profit and the return of your $10 stake.

What do betting odds of -200 mean?

They tell you that a $200 bet would be required to generate a $100 profit. Essentially, it means you will earn 50% of your bet amount in profit. For example, a $200 bet would net you $100 in winnings, while a $40 bet at -200 would earn you a $20 profit.

How do money lines work in betting?

A moneyline bet is a simple prediction on which team will win a game. It can also apply to the fighter that will win a UFC showdown or the player that will win a tennis match. The sportsbooks release moneyline odds on each contestant, and the odds tell you the profit available by betting on each option.

Why do betting lines move?

Breaking news of an injury to an important player could cause betting lines to move. Sportsbooks will also change their lines if most bettors back one team. They want to spread out their risk, so they will try to encourage more bets on the less popular team by offering more appealing odds on that team.

Who sets sports betting lines?

Sportsbooks such as BetMGM, Caesars, FanDuel, DraftKings and PointsBet set sports betting lines. Individual sportsbooks often provide different lines to their rivals, so it is vital to visit OddsTrader and seek out the best lines and odds before placing a sports bet.