The point spread – also called “the line” or “the spread” – is used as a margin to handicap the favorite team. For betting purposes, the oddsmaker predicts that the favored team will win by a certain number of points. This number of points is the point spread. The favorite is always indicated by a minus sign (e.g. -5.5) and the underdog by a plus sign (e.g.+5.5). Should you bet on the favorite, you win your bet if the favorite wins AND their margin of victory is greater than the point spread. If you bet on the underdog, you win if the underdog wins, ties, or if the favored team wins but fails to exceed the point spread. It’s standard for point spread bets in most sports that you wager $110 to win $100.
The point above is for the home team. To observe the odds for both groups.
A money line, used in baseball and hockey, takes the place of a point spread. Money line betting is simply wagering on the contest based on a given price as opposed to a point spread. The team wagered on must win the game outright. The minus sign (e.g.-130) always indicates the favorite and the amount you must bet to win $100. The plus sign (e.g.+120) always indicates the underdog and the amount you win for every $100 bet. With this example, therefore, you would bet $130 to win $100 on the favorite, while for the underdog you would bet $100 to win $120.
The over/under is the amount of points oddsmakers expect will be the total score for the contest (both teams combined, overtime included). You bet on whether the total points scored will be more or less than this amount. As with point spread bets, you must generally wager $110 to win $100.
Betting on a point spread or money line is sometimes called betting”sides” – that is, betting that one side or the other will be the winner – while betting the over/under is called betting”totals”.