In all events, one competitor is the favorite and the other is the underdog. In order to even out the wagers, the linesmaker draws up an odds line, commonly referred to as “the odds”. The odds line is created such that a bettor can bet on the probability of a competitor’s win. The more likely the event will occur, the more the odds decrease. The less that it is likely to happen the greater the odds are. As you could imagine, how much you could get paid varies as the odds change.

American bookmakers favor moneyline odds, which means they are typically called American odds. In this way, odds will be quoted with either positive or negative figures. Negative numbers indicate which competitor is the favorite and the odds will show how much money you will need to risk to get $100 in winnings. The underdog will be represented by a postive number, while the odds will show you how much you’re going to win if you had wagered $100. You will receive your wager if the odds are even. A standard betting line, one in which the odds for each team is -110, indicates that neither team is favored to win the game.

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