How Betting Lines Work
Learn about the three popular formats that betting odds are expressed in: fractional, decimal, and moneyline. Find out how to interpret these types of odds. Betting can at first seem very complex. Read this guide to help you become a betting odds expert.
Online sportsbooks typically release NFL betting lines at some point during the week leading up to game day. Once the lines are released, the odds are NOT set in stone. Books constantly adjust the lines as new information comes out and action is booked. Their goal in setting the line is to get an equal amount of action on each side of every bet.
If you’re interested in betting on any upcoming NFL game, you’re at the right place. These lines include Sunday matchups, Monday Night Football and Thursday evening games. The betting lines posted here are automatically updated in real time. Bookmark this page and check back any time for the latest betting odds on any NFL game.
How Betting Lines Work
Betting lines convey the most important information you need to place a wager on a sporting event. In most cases, a betting line consists of the point spread, moneyline and total. Each of these terms refers to a specific type of wager.
Point Spread
The point spread is used to even the odds for any mismatched competition. Let’s say the Chiefs are playing the Raiders in Kansas City this weekend. The oddsmakers determine that the Chiefs are a stronger team this year and will probably win the game. The oddsmakers also know that the betting public is aware that the Chiefs are the more dominant team.
In order to make both sides of the bet equally attractive, the oddsmakers give the Raiders 6.5 points. The point spread would look like this:
- Raiders +6.5
- Chiefs -6.5
How Betting Lines Work In Football
What this means is that any bets on the Raiders are considered winners if the Raiders either win outright or lose by less than 7 points. A final score of Raiders 21 Chiefs 24 would still be a win for you because the Raiders “covered the spread.” In other words, you can add 6.5 points to the Raiders final score to determine if your bet is a winner.
If you bet on the Chiefs, you need them to win by at least 7 points. Anything less is considered a loss for the purpose of your wager.
Moneyline
The moneyline is a second method used to balance out mismatched teams. The difference is that instead of giving and taking points, the sportsbooks adjusts how much it pays for wagers on each team. Wagers on the dominant team pay less than wagers on the underdogs.
For example, let’s look at the Chiefs and Raiders. The moneyline on this bet might look something like this:
- Raiders +230
- Chiefs -260
Again, the Raiders are the underdogs in this matchup. The +230 next to their name means that for every $100 risked on the Raiders, you stand to win $230. You could also say that for every $1 risked, you will net $2.30 in winnings.
The Chiefs are the favorites so the payout odds for them aren’t nearly as attractive. The -260 means that you are being asked to risk $2.60 for every $1.00 in winnings. A winning $260 bet on the Chiefs in this wager would return $100.
The Total
The total refers to the point total. This is a simple wager in which the sportsbook chooses a total number of points that will be scored in the game. You then try to guess whether the actual points total will be higher than or lower than that number.
So, let’s say the total for that same Chiefs-Raiders game is set at 40.5 points. You have two options: the over and the under. You would pick the over if you think the actual number of points scored will be 41 or more. You would pick the under if you think there will be 40 or fewer points scored.
How Do Betting Lines Work
Putting It Together
The “betting line” is how the sportsbook presents all three wagers. Every book does it a little differently, but you shouldn’t have too much trouble once you have an understanding of the three basic bets included in a betting line. Here’s how the average betting site would display the Chiefs-Raiders betting line:
- Oakland Raiders +6.5 +230 40.5 (-110)U
- Kansas City Chiefs -6.5 -260 40.5 (-110)O
At a glance, this betting line shows the point spread, moneyline and point total. Note that the point totals aren’t associated with either team. They are just displayed at the end of the line with an O for over and a U for under. You pick one or the other. Usually, the cost to wager on a point total is -110. This means you need to risk $1.10 for every $1.00 in potential winnings.