There are two important ways of interpreting probability. One has to be Point Spreads and the other money lines. Though betting is almost the same in both sportsbook betting odds, because you bet on who is going to win, point spreads differentiate because they establish a number of points in which the winner needs to have over the loosing team.

For example, the Patriots are playing against the Raiders. You are betting for the Raiders that have a -6 on their points when the Jets have +6 points as showed by the established sportsbook odds. Now the Raiders need to beat the Jets with more than 6 points so you can win your bet. If the final score ends up tie then there is no action and nothing is won or loose. If the Raiders win by less than 6 points then you loose your bet.

Sportsbook odds like Money Lines are even much simpler to understand. Teams doesn