What Does “plus” And “minus” Mean In Sports Betting?
It’s not as simple as betting good teams to beat bad teams because the payouts on the moneyline reflect the situation. That is, you’ll risk a lot to win a little, “laying” the sportsbook a price. When a bettor places a wager on the moneyline, they simply pick a side to win. This is different from spread betting, which uses a handicap to theoretically level the odds on both sides. All the bettor’s selection must do is win and the moneyline wager pays out.
If you believe an outcome is more likely than the implied probability, you have an optimal chance of winning a return on your wager. For example, the Golden State money line above is listed at -340 odds. Using the same principles we just discussed, $340 needs to be bet in order to win $100.
Similarly, the +3.50 odds tell you that for each bet you place on the Suns, you stand to win $1 + $2.50 profit. Calculating your potential winnings with American odds is not difficult at all. The formula is actually very simple, and while a Bet Slip will usually convert the numbers for you automatically, it’s good to know what actually happens in the background. If you are betting on the Miami Heat to win (+102) against Milwaukee Bucks (-121), you are essentially backing the underdog in the game.
This page has more information about the math behind the vig. The gist of it is, to get the “true” implied probability from a line, one must divide the implied probability of the line by the total implied probabilities of all options in the market. In this way, even non-bettors can gain valuable information about event probabilities by tracking the betting market. Many fans would likely find it interesting to know their team had, say, a 20% chance to pull an upset over a favored team. This number reflects the potential winnings on a $100 stake. Sports betting is a way in which fans of a particular sport can combine their expertise about the game and their gambling skills to make money on the outcome of particular games.
In this example the Jets are listed as four-point favorites (-4) over the Bills and the 49ers are three-point underdogs (+3) against the Seahawks. So, if you bet $110 on the favored Jets, they must defeat the Bills by more than four points in order to win $100. If you bet $110 on the underdog 49ers you will win $100 if they win outright or lose by less than the three-point spread. If the final score happens to end up exactly on the number it’s a tie, or ‘push,’ and you get your money back.
And for a parlay to have a +EV, most if not all of the bets in the parlay must have a +EV. In this case, having a wager on the moneyline would be far more appealing. If the team scores and wins, you get something like +140 on your money instead of having laid -110 to get three points that have ultimately wound up meaningless.