Sportsbook Money Lines
The Money Lines, as some may call, are not as complicated as it
appears. Unlike point spreads which represents probability based
on game points, money lines represents probability with money.
A simple way to understand money lines is to think of it as an
indication of the amount of money you need to bet to win $110
and the amount of money you will win if you bet $100. Money
lines are preferably explained based on a $100 value since it
used in most of the games but it doesn't mean you can only bet a
$100 on a game. You can bet with money lines with any amount of
many and it will become proportional to the money lines odds.
Money lines are used mostly in popular sports like football and
basketball. Let me explain you an example of money lines with a
game of NFL where it is widely used.
For example, the Patriots are the favorite against the Steelers
on an AFC game. Since the Patriots are the favorite, the money
lines are fixed so they have a money line of -110. The Steelers
being the underdog has a money line of +110. If the Patriots are
your preference and you choose to bet for them, you have to bet
$110 to play a chance on winning $100. If you decide the
Steelers are in a come back still not more of a favorite like
the Patriots but you still think they can win the game then you
bet $100 to play the chance of winning $110. This is because the
probabilities calculated by the oddsmakers that are made into
money lines are balanced to win less money for betting on a team
that has more probability of winning and winning more money for
betting on a team that has less chance of winning.
It is not necessary to bet a $100 on money lines. You can choose
to bet more or less and your winning will be proportional to the
$100 and $110 value. For example if you bet $55 on the Raiders
with a money line of -110 while the Jets have a money line of
+110 and they win, you will receive $50. If you plan to bet $50
on the Jets and they win you get the amount of $55.
Money lines are very easy to understand and explain probability
with an approach on showing who has a better chance to win and
who doesn't. Anyway, the easier way to understand money lines is
by wagering. It is by experience of the process that you gain
knowledge and your future betting experience will be really
worth full.