The most simple and common bet you’ll come across commonly played in ice hockey, basketball and soccer. All there’s to do here is to choose the team you think will win the game outright.
Oddsboard for NBA match
New York Knicks -160
Cleveland Cavaliers +150
Out of the two options you have, one team will always be more fancied to win than the other. The favourite will always be displayed with a minus (-), the underdog a plus (+). The number given meanwhile represents the amount a player must wager in order to win $100.
For instance, looking at the oddsboard above, a $160 wager on the favourites, the NY Knicks, would pay $100, should they win. Since, the Knicks are favourites and expected to win, you’re expected to gamble more money on an eventuality considered more likely by the sportsbook.
A win for the Knicks then would see you yield the $160, plus your original stake, a total of $260.
A win for the Cavaliers would see you win $150, plus the $100 staked, a total of $250.
While the potential payouts are comparable, more money has been risked on the favourite, less money on the underdog.
It’s exactly the same method in Europe where low odds of say 1.20 are given to Barcelona up against Huesca. More money needs to be laid on Barcelona with such low odds to bring about a return of any significance.