Moneyline, spread and over/under
Almost every game on the board offers the same three bets. Each one asks a different question about the same game, so one team can win you one bet and lose you another. Here is what each bet asks and how it gets graded.
Moneyline: who wins?
A moneyline bet is the simplest: you pick the team that wins the game, whatever the score. The catch is the price. The favorite, the team expected to win, carries minus odds like −180, so you risk more than you can win. The underdog carries plus odds like +155, so you can win more than you risk. The next lesson shows you how to read those numbers.
Spread: by how much?
A spread bet evens out a lopsided game by handicapping the favorite. Bears −3.5 means the Bears must win by 4 or more for a Bears bet to win. Lions +3.5 means a Lions bet wins if the Lions lose by 3 or fewer, or win outright. Winning a spread bet is called a cover. Both sides are usually priced near −110, but the price still matters as much as the number.
The number a bet is graded against, like −3.5 here, is called the line. When the line is a whole number, like −3, the game can land exactly on it. That is a push: nobody wins and your stake comes back. A half-point, called the hook, rules a push out.
Over/under: how many points?
An over/under bet ignores who wins. The book sets a number for the two teams' combined score, and you bet whether the real score lands over or under it. Over 44.5 wins at 45 or more combined points; under 44.5 wins at 44 or fewer. You can be right without caring who wins.
The baseball and hockey versions
- The run line is baseball's spread, almost always 1.5 runs: Yankees −1.5 must win by 2 or more.
- The puck line is hockey's spread, almost always 1.5 goals: Rangers −1.5 must win by 2 or more.
Because the number barely changes from game to game, the price does the work instead. So many baseball and hockey games end by a single run or goal that a favorite at −1.5 is often priced at plus money.
One game, three answers
These bets are separate. A team can win the game, fail to cover, and play in a game that goes under, all on the same night. When a price on Consensus Edge looks strange, first check which of the three questions it answers.
Example. Bears vs Lions, with illustrative prices (not live data):
| Bet | Bears | Lions |
|---|---|---|
| Moneyline | −180 | +155 |
| Spread | −3.5 (−110) | +3.5 (−110) |
| Over/under 44.5 | Over −110 | Under −110 |
Final score: Bears 24, Lions 20.
- Moneyline: the Bears won, so Bears −180 wins and Lions +155 loses.
- Spread: the Bears won by 4, more than 3.5, so Bears −3.5 covers.
- Over/under: 24 + 20 = 44 points, below 44.5, so the under wins.
Make it Bears 23, Lions 20 and the Bears still win the moneyline, but Lions +3.5 covers. Had the spread been exactly −3, that 3-point win would be a push.
Terms in this lesson
MoneylineSpreadOver/UnderRun LinePuck LineLineFavoriteUnderdogCoverPushHook