A sports book will publish their points spreads for games/events. Let's say Sports Book A is offering you (-135) for the Minnesota Vikings who are the favorite to beat the Cincinnati Bengals (+115). If you pick the winner, you win the money line wager. It’s as simple as that. So, what do the numbers mean after the team names? First of all, if there is a minus sign in front of a number (-135), that is how much a bettor must wager to win $100. If there is a plus sign in front of a number (+115), that is how much profit a bettor makes on a $100 wager. For example, a bettor has to wager $135 on Minnesota Vikings to earn a $100 profit and a $235 total return. A bettor has to wager $100 on the Cincinnati Bengals to earn a profit of $115 and a $215 total return. Obviously, there was a lot more value betting on the Cincinnati Bengals but, remember, the underdogs must win the game outright for you to cash this ticket on the money line..
Let's say the Green Bay Packers are a 2.5-point favorite to win the Super Bowl. They have to win by three points or more to “cover” the spread. Let's say they are playing the Kansas City Chiefs who happen to be a 2.5-point underdog, the Packers would have to win outright or lose by two (2) points or less for you to win. The odds for these bets are typically posted at -110 for both sides, which means a bettor had to wager $110 to earn a $100 profit and a $210 total return.
The over/under bet is based on the total score of a game. Let's say the betting line for the Super Bowl is posted at 48.5 points. A 30-20 outcome would mean the “over” wins the totals bet. A 13-3 outcome would mean the “under” wins the totals bet. The odds for these bets are usually posted at -110 for both sides, which means a bettor would have to wager $110 to earn a $100 profit and a $210 return. The betting for basketball is posted exactly the same way it is for football, with the money line, point spread and over/under total. Baseball and hockey also have the money line and over/under bets, but the point spread is replaced with the run line in baseball and puck line in hockey where the team that is favored has to win by two or more runs or goals. Again, the odds on the run line and puck line vary depending on how big a favorite a certain team is against the underdog.
Parlays always include two (2) or more outcomes. This bet is usually only paid if all wagers win. Like a parlay, a teaser involves two (2) or more outcomes. This wager is different from a parlay because the bettor receives extra points on each line within the teaser. Prop bets are based on outcomes that are not dependent on the full game. One example is the over/under on the number of passing or rushing yards by an individual or team in a football game.
Some sportsbooks will offer bettors the opportunity to wager on the outcome of an entire season — for example, which team will win the NBA Finals, Stanley Cup, Super Bowl, or World Series. This is known as “futures book” or “future book” betting. As an example. What if the Minnesota Wild NHL hockey team is listed at 200-1 before the 2021-22 season. Let's say they reach the finals. A $100 futures bet, if the Wild win the Stanley Cup, will return $20,100 ($20,000 profit plus $100 bet). When you make a futures bet, your odds are “locked in.” That means if you bet the Minnesota Wild at 200-1, you will get paid off at 200-1 odds, even if the sportsbook later adjusts the odds Futures betting is also offered on the major events in horse racing, such as the Kentucky Derby and Breeders Cup. In horse racing futures, if your horse does not start the race, you lose the bet — there are no refunds. However, the odds on your bet are “locked in,” regardless of the horse’s odds on race day. Some sportsbooks offer futures betting on unusual propositions, such as which Major League Baseball player will hit the most home runs in the regular season. In this type of wager, all bets count regardless of injuries or other unforeseen events.
With live or partial line betting the lines and totals are only for action that takes place during a certain part of a game. The partial game wagers can be for point spreads, totals or just a simple proposition. Some examples are Quarter of a football or basketball game, half of a football or basketball game, first five innings of a baseball game, first inning of a baseball game, hockey periods, and team to score first.