The sign in front of the number indicates whether placing a wager on that outcome will pay out more money then you have wagered or less money then you have wagered. If the odd is negative (-) it means that outcome is more likely to happen and placing a bet on that outcome would payout less than the amount you wagered, while a positive (+) odd shows that the outcome is less likely to happen and it would pay out more than the amount you wagered.
By far the largest part of the official market in the UK concerns financial instruments; the leading spread-betting companies make most of their revenues from financial markets, their sports operations being much less significant. Financial spread betting in the United Kingdom closely resembles the futures and options markets, the major differences being
Betting on sporting events has long been the most popular form of spread betting. Whilst most bets the casino offers to players have a built in house edge, betting on the spread offers an opportunity for the astute gambler. When a casino accepts a spread bet, it gives the player the odds of 10 to 11, or -110. That means that for every 11 dollars the player wagers, the player will win 10, slightly lower than an even money bet. If team A is playing team B, the casino is not concerned with who wins the game; they are only concerned with taking an equal amount of money of both sides. For example, if one player takes team A and the other takes team B and each wager $110 to win $100, it doesn’t matter what team wins; the casino makes money. They take $100 of the $110 from the losing bet and pay the winner, keeping the extra $10 for themselves. This is the house edge. The goal of the casino is to set a line that encourages an equal amount of action on both sides, thereby guaranteeing a profit. This also explains how money can be made by the astute gambler. If casinos set lines to encourage an equal amount of money on both sides, it sets them based on the public perception of the team, not necessarily the real strength of the teams. Many things can affect public perception, which moves the line away from what the real line should be. This gap between the Vegas line, the real line, and differences between other sports books betting lines and spreads is where value can be found.
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What's the difference between an oddsmaker and a bookie? A bookie's job is purely mechanical. He gets the line from Vegas or another source, offers bets at those odds, then collects money from the losers, pays out to the winners and keeps the vig. Oddsmakers don't actually take bets -- they study the games and set the lines. Bookies often adjust the spreads for their games, so they do a little oddsmaking, and oddsmakers work for casinos, which operate sports books that take bets.
“Limitations. Subject to the foregoing, and subject to all of the terms and conditions of this Compact, the Tribe shall establish, at its discretion, by tribal law, such limitations as it deems appropriate on the amount and type of Class III Gaming conducted, the location of Class III Gaming on Indian Lands, the hours and days of operation, and betting and pot limits, applicable to such gaming.”
Now for American Style Sports Odds. Typically, when you are betting on the point spread, as in topic #1 above, the odds are displayed or implied to be (-110), which is known as American Style odds. The American Style odds format is based on $100. When the number, is displayed as a negative number (-110), it indicates how much money you must risk to realize a profit of $100. In our scenario, you must wager $110 to win $100 profit. If you do, you will receive $210 when you cash in…the winning amount PLUS your initial wager amount.
--Fractional odds are most commonly found in racing. A 10/1 payout should be read "$10 paid for every $1 wagered." When the bigger number is on the left, you will find that bet is normally an underdog in the race. Also note, however, that in case such as "Who will win the Super Bowl in the NFL?" you will see all the teams listed as "underdogs"… i.e. paying at least 2/1 (some up to 300/1 or more).
What this spread means is that, for the purposes of wagering, the Chargers will have 3.5 points deducted from their final score. For a bet on them to be successful, they would therefore have to win by four points or more. The Colts, on the other hand, will have 3.5 points added to their final score. A bet on them would be successful if they won the game, or lost by 3 points or less.
When you bet on the money line, you are betting on one side to simply win. Any time you see a money line, the minus sign (-) indicates the favorite while the plus sign (+) indicates the underdog. For example: Chicago Bears –240 vs. Minnesota Vikings +210. Using $100 as the base, it will take $240 wagered on the Chicago Bears to win $100. For a bettor wagering on the underdog Minnesota Vikings in this scenario, $100 will win $210. With the money line you just have to hope your team wins rather than cover a point spread. Of course, the one downside is having to risk more money to return the same amount that a point spread bet would net you.
Especially in major tournaments, some sports books offer odds on unusual golf propositions, such as the over/under on the winning score, the over/under on the lowest round by any golfer or the over/under on the finishing position by a particular golfer. For example, the over/under on Woods' finishing position may be 3 1/2. If he finishes first, second or third in the tournament, the "under" wins; if he finishes fourth or worse, the "over" tickets cash.
In-play betting. In-play betting is a fairly new feature offered by some online sports books that enables bettors to place new bets while a sporting event is in progress. In-play betting first appeared towards the end of the 1990s when some bookmakers would take bets over the telephone whilst a sports event was in progress, and has now evolved into a popular online service in many countries. The introduction of in-play betting has allowed bookmakers to increase the number of markets available to bet on during sports events, and gamblers are able to place bets based on many different types of in-game activity during the matches. For example, in football matches, it is possible to bet in on in-play markets including the match result, half-time score, number of goals scored in the first or second half of the game, the number of yellow cards during the match, and the name of the goal scorers.  The availability of a particular sport and in-play markets varies from bookmaker to bookmaker. In-play sports betting has structural characteristics that have changed the mechanics of gambling for sports bettors, as they are now able to place a larger number of bets during a single sports game (as opposed to a single bet on who is going to win). One of the most important differences between being able to place an in-running sports bet opposed to a pre-match bet is that the nature of the market has been turned what was previously a discontinuous form of gambling into a continuous one. The gambling study literature has suggested that in-play sports betting may offer more of a risk to problem gamblers because it allows the option for high-speed continuous betting and requires rapid and impulsive decisions in the absence of time for reflection. There are three different types of in-play sports betting products(cash out, Edit my Acca, and Edit my Bet).
Ideally, the lines I release will balance the action equally, so that the winners get paid out from the pockets of the losers and we take the vigorish. That’s an ideal that rarely happens – especially in sports without a pointspread, like NASCAR and golf. If Team A is getting too much action, I’ll move the line toward Team B to try to achieve that balance. My personal preference is to tweak the vig from –110 to –105 or +100 before taking the bigger step of moving the spread a half-point or more.
This is where you simply wager on which team will win the game outright, no point spreads, no BS…just the straight up winner. Although this may appear to be easier, you will pay for it as the odds (payout) will reflect the lack of a point spread. If you wager on a favorite, then you will win less than with a point spread, but if you wager on the underdog…and win…you will receive and even greater win amount based on the higher risk taken.
Generally, the number next to the spread is “-110”. This is what’s known as the juice, vig or odds. The juice is a fraction of the wager taken from the bettor if the bet wins. In this instance, a winning wager of $110 will yield a profit of $100.The example above demonstrates that, although Indianapolis won the contest, Tennessee covered the spread by losing by less than nine points. An important aspect of sports betting is capturing the best line possible. A great way to achieve this is by shopping for the best line.
A spread is a range of outcomes and the bet is whether the outcome will be above or below the spread. Spread betting has been a major growth market in the UK in recent years, with the number of gamblers heading towards one million. Financial spread betting (see below) can carry a high level of risk if there is no "stop". In the UK, spread betting is regulated by the Financial Conduct Authority rather than the Gambling Commission.
There's another reason to bet the underdogs on the moneyline as well. If your handicapping has made you feel very strongly that a poor team is due for a big win then the moneyline allows you to profit much more handsomely from your conclusion than a point spread bet does. The moneyline, then, is a powerful situational tool for people who closely follow the NBA.
For all the talk of new forms of wagering, the good old point spread remains the bet of choice for most NFL fans. Also known as the line or spread, the myth is that Las Vegas sets the point spread as its predicted margin of victory for one team. In reality, it's a number chosen by oddsmakers that will encourage an equal number of people to wager on the underdog as on the favorite. The negative value (-3.5) indicates that team is favored by 3.5 points. The positive value (+3.5) indicates that team is the underdog by 3.5 points. Betting on the favorite means the team must win by at least four points to cover the point spread. The underdog team can lose by three points and still cover the spread. You will also notice a moneyline value associated with the point spread (such as -3.5, -115). This indicates how much you must risk in order to book the bet (also known as the vig or juice). It means you have to risk $115 to win $100. The underdog may see a value such as +3.5, +105. This means you risk $100 to win $105 if your team covers the spread. The spread is not a static number, so you will notice line moves during the week. Team A may be favored by 3 points on Tuesday and by 4.5 points on Friday. This indicates more people are betting on them, so Las Vegas increases the underdog value hoping to encourage more wagers on the underdog.
As an example, let’s consider a matchup between the Indianapolis Colts and the Cincinnati Bengals. In our scenario, the Bengals are the home team, which means they will be listed last and the Colts, as the visitors, will be on the odds slip first. If Indy’s rotation number is 101, then Cincy’s rotation mark would be 102. When you place a bet live at a Vegas sportsbook or over the phone, you would say the number of the team on which you want to wager and not the name.
Odds for different outcomes in single bet are presented either in European format (decimal odds), UK format (fractional odds), or American format (moneyline odds). European format (decimal odds) are used in continental Europe, Canada, and Australia. They are the ratio of the full payout to the stake, in a decimal format. Decimal odds of 2.00 are an even bet. UK format (fractional odds) are used by British bookmakers. They are the ratio of the amount won to the stake - the solidus "/" is pronounced "to" for example 7/1 "seven to one". Fractional odds of 1/1 are an even bet. US format odds are the amount won on a 100 stake when positive and the stake needed to win 100 when negative. US odds of 100 are an even bet.
As always, beware of sites offering paid or free NFL betting picks in connection with a varying unit betting system. If you are using their pro football betting picks to gamble on NFL football games, you might consider that some of these sites are providing money tips which are likely to drain your NFL sportsbook account. Earning gambling profits long term takes discipline to know there is always another game to bet on. Most free sports pick sites don't understand that it requires more than winning football predictions to earn a living betting on sports. So for anyone living in an area where NFL gambling is legal, keep in mind that relying on "bet the house" free NFL picks could seriously reduce your NFL betting success.