Sports betting has become a phenomenon across the world. People all around the world will put wagers on a sporting event to create more excitement around a game for themselves. Let’s face it, you wouldn’t watch a 1-10 team play a 2-9 team without placing a wager. But once the wager is in, you’re absolutely tuning in and watching every second.
Betting lines are used for sportsbooks to put a price on a certain wager. If you’re looking at a team with -150 odds to win, they’re a favorite. If it pays out, you will receive less than you put in. However, if you bet on the opposite side and take a chance with a +150 underdog, you would make more profit if the team won. Read more about Moneyline betting here.
Who creates the betting lines that are used by sportsbooks?

• How To Betting Lines Work
• How Betting Lines Work
• How Do Hockey Betting Lines Work
• How Do Betting Lines Work

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1. Find out how betting lines work. Learn about how Vegas oddsmakers set lines and determine point spreads and favorites. See what causes lines to move after opening.
2. System bets or yankee bets explained with examples. System bettings can also be used as strategy in sports betting to geht higher odds.

Most sportsbooks have in-house oddsmakers that are in charge of creating betting lines in the weeks before games, especially when it comes to Opening Day or the NFL. In baseball, the oddsmakers are required to make the lines daily as games never seem to stop in the summer with the MLB.
Years ago, the oddsmakers didn't have that much information to look at when trying to make betting lines. Now there are analytics everywhere to come up with all of the lines much more accurately.
Back then, oddsmakers would really only have box scores to look at. Now oddsmakers can look up anything and everything which gives them an advantage over the average bettor. Of course, records and things like the weather are important, but deeper stats mean so much more to oddsmakers. They’re able to develop systems to figure out exactly how much a team will score and such. You know the saying, “Vegas is always right.” Unless you follow Doc’s Sports picks. Then it’s different.
How Lines Move
When a game starts out at -3 for a team and the line changes to -2 before the game begins, that means that there’s action on the game or an injury to a key player. There are 'sharp' bettors that place a large bet on one team that forces oddsmakers to raise an eyebrow and switch the lines. An oddsmaker is always watching action to see if a change is necessary on the lines.
Popular Ways to Bet
Point spread
A point spread is a handicap where you essentially give or receive points on top of the actual outcome of the game. The spread basically looks at how a sportsbook or oddsmaker thinks about what the outcome might be. For example, in an NFL game, if the Kansas City Chiefs are -3 on the spread, the oddsmakers believe that the Chiefs will win their game by three points. If your data and analysis say otherwise, you would be on the opposite slide and gain three points from their opponent. So, if you bet on the Chiefs with the spread, you would have needed them to win by more than 3 points to cash your ticket. If the score was 27-21, Chiefs, you would win your bet. But if it was 23-21, Chiefs, you would lose because the other side gained three points and won 24-23 theoretically. Betting on spreads allows you to pick a team to win with better odds. If you were to just pick the Chiefs to win that game, you would have to lay a lot of money on the Chiefs. Picking them against the spread gives you a chance to make money near an even line.

Moneyline bets:
Moneyline bets take some stress away. With a moneyline bet, you only need your team to win the game and don’t need to worry about how much they do it by. We’ve all been there where we’ve taken a team to win by 7.5 and then a team wins by just seven. Those are the worst bad breaks and losing bets possible and not fun to endure. After the game, you’ll then wish you had been on the moneyline instead. Those absolutely sting.
The problem with money lines is that you will have to lay a lot more money on the team to win. On heavy favorites, you’re looking at putting down $300 just to win $100 on teams that are -300 American odds. If the San Francisco 49ers were -300 against the Minnesota Vikings, all you would need is for the 49ers to win the game. However, if they are upset, you’d lose $300 trying to win just $100. Heavy money lines are very scary if your team doesn’t perform like they should be or how they were projected to.
Point total bets
With totals, or over/under betting, you don’t need to worry about who wins the game. You’re worried about how many points are scored in the game. For example, if you bet over 52 points on the New York Giants against the Philadelphia Eagles, you’d want the combined score between the two teams to be more than 52 points. Therefore, if the score was 35-28, you would have 63 points and score over 52 points. If the score was 17-14, you would have a total of 31 points and the total would go under. Therefore, you would lose the wager and the bet.
You don’t only have to bet on the total for the game, but you can also bet on the team total for a certain team. If you’re not sure about one side but you love the other side, you can isolate a team and bet their team total.

Proposition bets:
Many people make their money on proposition bets. Prop bets are available for most sporting events, and you can bet anything from a team’s total to how many yards a player will rush for to how many touchdowns a player will score. Prop bets are like playing fantasy sports but with odds.
Prop bets are extremely popular during the Super Bowl, where people go as far as betting on how long the National Anthem will be. There are some ridiculous props like what color Gatorade will be poured on the winning head coach. Unless you have insight on those bets, it’s hard to have concrete analysis for that. You’re basically just trying to hit the lottery.

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Understanding betting odds requires knowledge of not just one type of odds format, but all three of the common formats, as many sites will offer them in their own format – leaving you wondering how much you actually stand to win on a wager. Odds comparison is simple once you understand decimal, fractional and money lines.

Understanding the Underdog and the Favorite

When comparing odds at betting sites, you will be faced by two different situations, for the most part. You will either be in a situation where the money you could potentially win exceeds the amount of your wager. You might also see odds where you must wager more units than you would win.

Betting Sites with the Best Odds

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How To Betting Lines Work

Up To $125

Consider the following example:

San Francisco is playing Chicago. Chicago is likely to win the event so they are referred to as the “favorite.” San Francisco will probably lose the event so they are referred to as the “underdog.” In most cases, you will need to wager more units to win a single unit if wagering on Chicago. Along the same lines, you will wager a single unit to win multiple units if betting on San Francisco.

Remembering the difference between the underdog and favorite when placing a wager on a competition. Sometimes, betting on the favorite is not the best choice if you must bet too many units to win a single unit.

Understanding Decimal, Fractional and Money Line Odds

Fractional Betting Odds: Fractional odds are certainly not the most common types at sportsbooks. However, for the beginning bettor, fractional odds are very simple to grasp. Most of the time, you will find them listed with racebooks (horse and dog racing, for example).

Due to their simplicity, on the other hand, many bookmakers are beginning to recognize the value of listing odds as a fraction. In simple terms, a fractional odd implies the amount of money that you will win by making a wager of the second number in the fraction. For example, you might see them listed as 5/1. This means that you will win $5.00 for every $1.00 that you wager – very good odds.

On the other hand, if you see a fractional odd listed as 1/5, for example, this would imply that you must wager $5.00 to win $1.00 – very poor odds. For the most part, you will see good odds on the underdog, or the competitor likely to lose the event and poor odds on the competitor likely to win the event, or the favorite.

Decimal Betting Odds: Decimal odds are not very frequently used within the United States. However, if you use a betting site that caters primarily to Canadian, Australian and European players, you will likely see these in use. Unfortunately, they can be quite confusing to the beginning bettor as they correspond to fractional odds using a bit of math. One of the easiest ways to calculate decimal odds is by starting with the equivalent fractional odd. Pretend as if the fractional odd is a division problem and perform the calculation.

For example, you might be given odds of 5/1. This would equal 5.00 after the calculation. However, the last step in the conversion is to add 1.00 to the result for the actual odds – 6.00. Thus, for 5/1 fractional odds and 6.00 decimal odds, you will win $5.00 for every $1.00 that you wager.

Where decimal odds get a bit trickier is when understanding odds given by sportsbooks that are on the favorite. These odds will always appear under the odd 2.00 (even money). For example, you might receive decimal odds of 1.25. They key portion of this decimal to recognize here is the 0.25. As you can see, the 0.25 goes into the number 1.00 four times.

This would produce fractional odds of 1/4. With this conversion, you now know that you will need to wager four units to win each single unit – $4.00 to win $1.00, for example. You will often see decimal odds used for parlay bets.

Money Line Betting Odds: Also referred to as American Odds, Money Line odds are often used to cater primarily to players from America. You will see either a negative or positive number when viewing the comparison which makes it very simple to understand. A positive number is the amount that you will win by wagering 100. For example, you might see money line odds of +300.

How Betting Lines Work

This means that your wager of 100 will result winnings of 300 if your pick is successful. Relate this to money for an easier to understand example. Using the same odds, assume that you are wagering $1.00 on a competitor. If they win, you will receive $3.00.

How Do Hockey Betting Lines Work

Converting this result back into a decimal odd is also very simple for positive money lines. This same money line odd, +300, can be converted to a decimal odd by adding 100 and placing a decimal point in front of the first number – for a resulting odd of 4.00. To convert to fractional odds from money line odds, simply consider the odd as a fraction. You know that you will win a unit of 3 by wagering a unit of 1. Therefore, a fractional odds expression of the money line odd +300 is 3/1.

How Do Betting Lines Work

Negative money line odds are given on the competitor likely to be successful at an event. A simple way to understand these odds is that the number corresponds to the amount that you would need to wager to win +100. For example, you are given -125 odds. Think of this as $1.25. If you would like to win $1.00, you will need to wager $1.25. Because American or money line odds are simple to understand on the negative side, there is normally no need to express them as a decimal.