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Sportsbook odds show both what must happen for a bet to win and how much it could return. A moneyline picks the outright winner, a point spread adds a points handicap, and a total asks whether the combined score will be over or under a set number. American odds express the price; the stake is returned as part of the total payout on a winning bet.
How moneyline, spread, and totals bets differ
| Market | What you choose | What determines a win | Can the bet push? |
|---|---|---|---|
| Moneyline | A team or player | Your selection wins outright; margin does not matter. Where ties are possible, a draw may be offered as a separate outcome. | Not established generally; check the operator’s market rules for the sport. |
| Point spread | A team or player with a points handicap | The selection wins or loses by enough points to cover the handicap. | Possible on a whole-number spread if the result lands exactly on the line; the stake is typically refunded, subject to operator rules. A half-point prevents an exact-score push on that line. |
| Total (over/under) | Over or under the posted combined-score line | The two sides’ combined score finishes above or below the total. | Possible on a whole-number total if the final score equals the line, subject to operator rules. A half-point prevents an exact-total push. |
For example, a 165.5 total is about whether the combined score is above or below 165.5, not which team wins. A favorite can win a game but fail to cover its spread; an underdog can lose and still cover.
How American odds translate into profit and payout
American odds are common on U.S. sportsbook displays. With negative odds, the number indicates how much must be risked to earn $100 profit. With positive odds, the number indicates the profit on a $100 stake. BetMGM’s odds converter explains the formats and calculations.
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- −150: A $150 winning stake earns $100 profit, for a $250 total payout ($100 profit plus the returned $150 stake).
- +130: A $100 winning stake earns $130 profit, for a $230 total payout ($130 profit plus the returned $100 stake).
- −125: A $20 winning stake earns $16 profit, for a $36 total payout. BetMGM’s calculator gives −125 a raw implied probability of 55.56%.
For a stake other than $100, scale the stated profit proportionally. For negative odds, profit = stake × 100 ÷ the absolute odds number. For positive odds, profit = stake × odds number ÷ 100. Total payout on a winning bet is profit plus the returned stake.
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What does −110 mean?
At −110, a $110 stake would earn $100 profit if it wins, returning $210 in total. A $11 stake would earn $10 profit, returning $21 total. The “−110” price is separate from a spread such as −1.5: the spread is the points handicap, while −110 sets the payout terms.
What “cover the spread” means
A spread applies a points handicap to a team or player. Suppose a favorite is listed at −1.5: it must win by at least two points to cover. An underdog at +1.5 covers if it wins outright or loses by one. The odds attached to either side—perhaps −110—price the wager; they do not change the points required to cover.
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Whole-number spreads can land exactly on the line, producing a push in some markets and returning the stake rather than counting the wager as a win or loss. A half-point removes that exact-score push for that particular line. Settlement rules can differ by sport and operator, so consult the sportsbook’s rules for the specific market.
How over/under betting works
For a total, add the scores of both teams and compare that combined score with the posted line. With a total of 165.5, an over bet wins if the combined score is at least 166; an under bet wins if it is 165 or less. The result does not depend on which side wins the game.
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A whole-number total can push if the combined score equals the line, subject to the sportsbook’s rules. A half-point total cannot finish exactly on the line.
Implied probability is not a promise
American odds can be converted to a raw implied probability. For positive odds of +A, calculate 100 ÷ (A + 100). For negative odds of −A, use A ÷ (A + 100), where A is the absolute value of the number. For example, −125 converts to 125 ÷ 225, or 55.56%.
This is a conversion of the quoted price, not a guarantee that the outcome will happen or a margin-adjusted estimate of its true probability. Prices can include the sportsbook’s margin; for a two-outcome market, the two raw implied probabilities can add up to more than 100%.
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- Settlement condition: Identify exactly what result wins—an outright victory, covering a handicap, or a combined score above or below a total.
- Push and tie rules: Check how the operator settles whole-number lines, ties, and any sport-specific exceptions.
- Price and payout: Distinguish the stake, potential profit, and total payout, and confirm the displayed odds for the exact selection.
- Local rules: Sportsbook licensing and legal availability vary by jurisdiction. Verify your local regulator’s requirements and the operator’s current rules.
Keep betting within limits
Odds describe possible returns; they do not make outcomes certain or wagering dependable income. The Responsible Gambling Council advises setting time and spending budgets, using limits, avoiding attempts to chase losses, limiting alcohol or other substances, taking breaks, and stopping if betting becomes stressful or stops being fun. Its safer-play guidance offers practical ways to keep gambling within boundaries. In an event-specific 2025 survey, 70% of surveyed sportsbook users who planned to bet on a Big Game said they would use at least one responsible-gambling feature; that finding should not be generalized to all bettors. For help, consult a support service available in your jurisdiction.
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