Fundamentals
1. Understanding Betting Odds
In the U.S., sportsbooks use Odds, which are displayed as either a positive (+) or negative (−) number.
Positive Odds (+): Show how much profit you'd make on a $100 bet. Example:
+200 → A $100 bet wins $200 (total payout = $300).
Negative Odds (−): Show how much you need to bet to win $100. Example:
-150 → You must bet $150 to win $100 (total payout = $250).
Key Points:
Negative odds = favorite (more likely to win, smaller payout).
Positive odds = underdog (less likely to win, bigger payout).
2. Types of Sports Bets
📌 Moneyline
Bet on who wins the game.
Example:
Chiefs -130 → Must bet $130 to win $100.
Raiders +110 → Bet $100 to win $110.
📌 Point Spread
Bet on the margin of victory.
The favorite must win by more than the spread; the underdog can lose by less (or win outright) and still cover.
Example:
Cowboys -6.5 → Must win by 7 or more points.
Giants +6.5 → Can lose by 6 or fewer points (or win outright).
Odds on spreads are usually around -110 on both sides (bet $110 to win $100).
📌 Over/Under (Totals)
Bet whether the combined score will be over or under a set number.
Example:
Over 45.5 → Total combined points must be 46 or more.
Under 45.5 → Total combined points must be 45 or fewer.
Odds are often close to -110 for both Over and Under bets.
📌 Parlay
Combine two or more bets into one for a higher payout.
Every bet (leg) must win for the parlay to cash.
Example:
Bet the Chiefs -6.5 AND Over 45.5 → Both must hit.
Parlay payouts increase based on the number of legs and the odds for each.
📌 Teaser
Special type of parlay where you move the point spread in your favor.
Example:
Move Chiefs -6.5 down to -0.5 to make it easier to win.
Because teasers are easier to hit, the payouts are smaller than standard parlays.
📌 Prop Bet (Proposition Bet)
Bet on specific outcomes inside a game.
Examples:
"Patrick Mahomes to throw over 2.5 touchdowns" (-120).
"First touchdown scorer: Travis Kelce" (+500).
Props have their own individual American odds.
📌 Futures
Bet on a long-term event or outcome.
Example:
"Chiefs to win the Super Bowl" at +600.
You place the bet now and wait for the outcome at the end of the season.
📌 Live Betting
Place bets after the game has already started.
Odds constantly shift during the game based on real-time action.
Example:
After the first quarter, Chiefs are down 7-0. Their live odds move from -150 pregame to +120.
🧠 Quick Summary:
Moneyline
Pick the winner.
Chiefs -130 / Raiders +110
Point Spread
Margin of victory.
Cowboys -6.5 (-110)
Over/Under
Total points scored.
Over 45.5 (-110)
Parlay
Multiple bets combined.
Chiefs -6.5 + Over 45.5
Teaser
Spread adjusted in your favor.
Chiefs -0.5 (teased)
Prop Bet
Player-specific or event-specific bet.
Mahomes Over 2.5 TDs (-120)
Futures
Championship or season-long outcomes.
Chiefs Super Bowl +600
Live Betting
Bets during the game.
Chiefs +120 after 1st quarter
🏆 Final Reminder:
Negative odds (−) = bet more to win $100 (favorite).
Positive odds (+) = bet $100 to win more (underdog).
Bet smart, manage your bankroll, and don’t chase losses.
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