Betting odds look intimidating at first, but they’re mostly a compact way to express probability and payout. This guide explains the three main bet types (moneyline, spread, total), how American odds work, and why lines move.
Want live examples? Open the Schedule, click a game, and look for the Odds section.
Start here: the 3 main bet types
Most odds you’ll see fall into three buckets:
- Moneyline: pick the winner.
- Spread: pick a team against a point handicap (or advantage).
- Total (Over/Under): pick whether the combined score goes over or under a number.
Moneyline: favorites and underdogs
Moneyline is the simplest bet: you’re betting who wins. In American odds, favorites are negative (e.g., -150) and underdogs are positive (e.g., +130).
Example: -150 means risk $150 to win $100 profit. +130 means risk $100 to win $130 profit.
Point spread: the margin matters
Spreads “balance” teams by giving the favorite a handicap. If a team is -4.5, they must win by 5+. If a team is +4.5, they can lose by 4 or win outright.
Why half points matter: -5.5 vs -6.5 is a big difference. A 6-point win covers -5.5 but loses -6.5.
Totals: pace + scoring environment
Totals are the combined score. A total of 214.5 means you’re betting whether both teams combine for 215+ (Over) or 214 or less (Under).
- Fast pace → more possessions → higher totals.
- Elite defense → fewer clean looks → lower totals.
- Late-game fouling can push Overs higher.
American odds (quick intuition)
American odds are built around $100. Positive numbers tell you profit on a $100 stake; negative numbers tell you how much you must risk to win $100 profit.
- +200: risk $100 to win $200 profit.
- -150: risk $150 to win $100 profit.
Implied probability (why it matters)
Odds represent the market’s estimate (plus “vig”). Implied probability helps you compare your own probability to the price.
- -150 implies about 60% win probability (roughly).
- +130 implies about 43% win probability (roughly).
If you think a team wins 55% of the time but the market is pricing them at 43%, that’s the kind of gap bettors look for.
Line movement: why odds change
Odds move because new information arrives. Common drivers:
- Injuries / lineup news
- Back-to-back games, travel, and rest
- Weather (football) and officiating tendencies
- Betting volume and sharp action
Glossary
- Vig / juice: the built-in fee in odds.
- Closing line: the final odds right before the game starts.
- Key number: common margins that matter (more in NFL than NBA).
- Steam: fast market movement across books.
FAQ
What does -150 mean in betting odds?
In American odds, -150 means you need to risk $150 to win $100 profit (plus your stake back). It indicates the team is favored.
What does +130 mean in betting odds?
In American odds, +130 means you win $130 profit for every $100 you risk (plus your stake back). It indicates an underdog price.
What is the moneyline?
Moneyline is the simplest bet: you pick the team to win the game. No point margin is involved.
What is the point spread?
The spread is the expected margin. A -4.5 favorite must win by 5+; a +4.5 underdog can lose by 4 or win outright.
What is a total (over/under)?
The total is the combined points scored by both teams. You bet Over or Under the posted number.
What is implied probability?
Implied probability is the win probability baked into the odds. It helps you compare your own estimate to the market price.
Why do odds move?
Odds move with injuries, lineup news, rest/travel spots, weather (football), and betting volume. The market updates as new information arrives.
Where can I see live odds on SportBusy?
Open the Schedule, pick a game, and you’ll see an Odds section on the game page. Odds refresh frequently when available in our feed.