Sportsbook Money Lines by Joseph Shuldiner
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