When you place a sports wager, odds are generally what you are thinking about. Odds are expressions used when talking about sports to indicate the ‘probability’ of an event occurring. For example, a bookmaker might offer odds of 3.00 that a certain team will win the Superbowl. The bookmaker is saying that at current betting prices, there is a 33% chance that the team will win the Superbowl. There are many different types of odds. Here are some of the most common ones.
Moneyline
The ‘moneyline’ is one of the most common types of odds in betting. It is used when the odds for a certain side or team are not available. For example, if you bet on the Superbowl with a bookmaker, but the game is not yet over, you might check the moneyline to see if your team has enough time to cover the spread. The moneyline is actually a combination of the point spread and over/under lines. So, if you bet $100 on a team you think will win the Superbowl and they end up losing, you would not lose the entire amount you wagered, you would simply lose the money you put on the Under. The moneyline is always expressed as a percentage, for example, +140 indicates a 140% chance that the bettor’s team will win. Moneyline is the most popular term used by Americans when referring to odds in betting, but it is not the only one. Other terms used for ‘odds’ in sports betting include team’s odds, betting odds, payout, vigorish, commission, and juice.
Half Time/Full Time
An ‘half time’ or ‘full time’ line refers to whether or not a team will score a certain number of points in the second half of a football game. If you bet on a half time line, you are essentially placing a wager on whether or not the average points scored by each team will be higher than the total points scored by both teams combined. A full time line refers to whether or not a team will score the entire amount of points on the scoreboard. In a full time line wager, you are essentially placing a wager on whether or not the points will be the same as the total combined points scored by both teams. Half time and full time lines are generally considered ‘values’ wagers because they value a specific outcome, and not the result of chance. Thus, if you bet on a half time line and the half time keeper taps the ball into the end zone for a touchdown, you would win your bet. However, if the half time keeper scores a field goal in the second half, your original bet would be a loss.
Over/Under
An over under line is used to represent whether or not a team will score more points than the total combined points scored by both teams. An over line wager basically consists of placing a wager on whether or not the total combined points of both teams will be higher or lower than the points scored by the specified team. Under/over lines are considered ‘futility’ wagers because they are based on whether or not a team will win or lose a game. Thus, if you bet on an under line with the assumption that your team will lose, you are essentially playing with ‘house’ money because you know the outcome of the wager. Similarly, if you bet on an over line with the assumption that your team will win, you are essentially playing with ‘house’ money since you know the outcome of the wager. Over/under lines are always expressed as a percentage such as –120 indicates a 120% chance that the under will come true.
Win/Lose
A win lose line represents whether or not a team will win or lose a game. A win lose line wager basically consists of placing a wager on whether or not your team will win or lose. This type of wager is considered a ‘futility’ wager because its outcome is not based on chance. If you bet on the win lose line and the result is a tie, your original wager would be a push. However, if you bet on the win lose line and your team ends up winning, you would win your original wager.
Field Goals/Extra Points
A field goal represents scoring a touchdown in regulation. An extra point is a field goal that is successfully kicked after the score is already tied. Field goals and extra points are ‘range’ or ‘accuracy’ wagers because they are based on whether or not the kicking team will score a specific target number of points. Thus, if you bet on a field goal and the team misses, you would win your bet. However, if they make the field goal, your original wager would be a loss.
Team Total
A team total line represents whether or not the total combined points scored by all the teams in a multi-team sports contest will be higher or lower than the specified number of points. If you bet on a team total line, you are essentially placing a wager on whether or not all the teams will score the amount of points that is on the line. For example, if you bet $100 on the San Francisco 49ers to score 20 points, you would win your bet since all the other teams in the contest can only score points. The 49ers do not need to score 20 points in order for you to win your bet. They simply need to cover the spread which, in this case, is 20 points. If any one of the other teams scores more than 20 points, you would lose your bet. The team total line is also considered a ‘futility’ wager because its outcome is not based on chance.
Over/Under 2.5 Goals
An over under 2.5 goal line represents whether or not the total combined goals scored by both teams in a soccer match will be higher or lower than 2.5 goals. If you bet on this line, you are basically placing a wager on whether or not the average goals scored per team will be higher or lower than the total combined goals scored. An over under 2.5 goal line is considered a ‘futility’ wager because its outcome is not based on chance. Thus, if you bet on an over under 2.5 goal line with the assumption that your team will lose, you are essentially playing with ‘house’ money because you know the outcome of the wager. Similarly, if you bet on an over under 2.5 goal line with the assumption that your team will win, you are essentially playing with ‘house’ money since you know the outcome of the wager. Over under 2.5 goal lines are always expressed as a percentage such as –120 indicates a 120% chance that the under will come true.
Head To Head
A head to head line represents two teams competing against each other in a specific match. Head to head lines are considered ‘competitiveness’ wagers because they are based on how well the competing teams will do against each other in the specified match. Thus, if you bet on a head to head line and your team wins, you would win your wager. However, if your team loses, you would lose your wager since you were not able to competently predict the result of the head to head matchup. Head to head lines are always expressed as a percentage such as +120 indicates a 120% chance that the first team to score wins the game.
Half Time/Full Time 3 Goals
An half time 3 goal line represents whether or not the average number of goals scored by both teams in the second half of a football game will be higher or lower than 3 goals. A full time 3 goal line means that the total number of goals scored in the entire game will be higher or lower than 3 goals. Half time and full time 3 goal lines are considered ‘collison’ wagers because they involve the collision of the ball with the goalposts. If you bet on this line and the result is a tie, your original wager would be a push. However, if you bet on a half time 3 goal line with the assumption that your team will win, you would win your bet since the other team did not score any goals in the second half. On the other hand, if you bet on a full time 3 goal line with the assumption that your team will lose, you would lose your bet since the other team was able to secure at least 3 goals. Half time 3 goal lines and full time 3 goal lines are always expressed as a percentage such as +120 indicates a 120% chance that the under will come true.