-110, +110, and Even Money

Question: What do -110, +110, and even money mean?

Answer: In last week’s article, we covered what the “moneyline” means; the week before we covered “against the spread”. The listed odds will govern a winning payout by a sportsbook. Moneylines will always list the odds for a given contest.  A wager placed against the spread may not always list the odds.

Courtesy of our friends over at Sportsbook.ag, we’ll provide an example.

First, its important to note that -110, +110, and even money do NOT affect the outcome of a sports contest. These numbers only refer to the amount of money a winning wager collects. Referring back to our example from the “against the spread” article, Michigan was an 8-point favorite against Northwestern. Unless otherwise stated, wagers against the spread will have a pay out of -110; that is, a bet of \$110 will win \$100, for a total of \$210. A sportsbook may list a number different from -110 in a wager against the spread. When that occurs, the listed number governs the odds. Generally, both sides of the against the spread bet will be -110. Where there is a line that is greater than -110, such as -120, a sports gambler will realize that line is trending towards that team; if enough people bet on that side of the line, the sportsbook may actually move the point spread on the game.

+110 is the opposite of -110. In order to win \$110, you need to wager \$100, for a total of \$210. A team that is listed as +110 is either an underdog, or there is less action on for an against the spread bet.

Where one side of an against the spread bet is -120, the other side will be +100. +100 is called even money. In an even money bet, the gambler doubles his/her money with a winning bet; a bet of \$100 wins \$100, for a total of \$200.

Remember, if the number is preceded by a minus sign, you need to bet that amount to win \$100. For example, if you bet Michigan, you needed to bet \$380 to win \$100, for a total of \$480. If the number is preceded by a plus sign, you needed to bet \$100 to win that amount. For example, if you bet Northwestern, you need to bet \$100 to win \$380, for a total of \$480. Of course, if you are going to bet more or less than that, you need to do a bit of math.

If you need to do some calculations, we suggest visiting http://www.parlaycalculator.com/. If you type in the moneyline in the first space under “teams/prices” then the amount under “Bet Amount”, and hit “Calculate Parlay”, the “Parlay Payout” will show the amount you stand to make, if you win, which does not include the amount you wagered. Of course, if you place a bet through an online sportsbook or in Las Vegas, your ticket will tell you the amount you stand to make.

Occasionally, sportsbooks will shy away from moving a point spread, but will allow the odds to be moved, sometimes as much as -130/+110, or more. While the payout may be a little less than hoped for, you can use clues like this to help place your bet – there is probably a reason why the odds are moving in one direction or another.

Other notes related to -110, +110, and even money:

• How do I place a bet in Las Vegas?: If you were placing this bet in Las Vegas, the proper way to place the bet is by the identifying number. You do NOT approach the bookmaker and say “I would like the Michigan moneyline”; instead, say “742 moneyline”, remembering that 742 is the unique identifier for Michigan. Remember, if you tell a sportsbook “742”, the assumption is you are betting against the spread (with the exception of baseball). Be sure to indicate whether the bet is for a single game contest or whether it is part of another wager. Two things: (1) The unique identifier may be different from sportsbook-to-sportsbook, do NOT assume that they are the same; (2) The minimum sports bet at Las Vegas casinos varies, from \$5-\$10 a contest. Consult your sportsbook for exact minimums and maximums. Not all contests will have a moneyline available. Most contests where the spread is high, a sportsbook will not allow a moneyline wager.
• When can I collect my winnings?: Depending on the sportsbook, contests are collectable once a final result is posted. If you are placing a sports wager, other than online, you may be able to mail in a winning ticket. Consult the sportsbook of your choice as to whether that method is available.
• What if the game goes into overtime?: Remember that a contest generally includes overtime. So if the team you bet on wins, in overtime, you win. If that team loses, you lose. Consult the sportsbook of your choice for their rules.
• When does a contest go final?: It depends on the sportsbook and what sport you are wagering on. In baseball, a contest is considered final once a team wins, obviously. If however, the game needs to be shortened, it is considered final after at least five completed innings have been played, and where one of the teams is leading. Where an inning has not been completed or where the score is tied, in the case of baseball, the event will be suspended (picked up where it was left off) or cancelled (the event will start over from the beginning, but wagers placed on the original contest will be refunded). Consult the sportsbook of your choice for their rules.
• The moneyline changed since I placed by wager, what happens?: NOTE: Whatever your ticket says is the moneyline for the contest matters! Do NOT refer to a different moneyline. For example, assume you bet Michigan -380. Since you place your bet, Michigan moneyline moves to -350 (this would be due to more people betting Northwestern moneyline as opposed to Michigan moneyline). A Michigan win means your payout is based on the -380 line, not -350. Generally, you may not cancel and re-bet in order to gain the benefit of the more favorable spread. By contrast, a less favorable line that occurs after the placing of a wager does not affect your wager.
• I want to wager on a game, but I don’t see it as being available: Not all games will be available to bet on. Sportsbooks pick the contests that are likely to have the most action. Note that some sportsbooks will not accept bets on certain teams (The Palms will not accept bets on the NBA’s Sacramento Kings, because the Maloof family, owner of The Palms, owns the Kings; Harrah’s casinos will not accept bets on the NBA’s Boston Celtics because Harrah’s has an ownership interest in the Celtics).
• The game I wagered on says “refund” or is no longer on the board, what happens now?: Sometimes a sportsbook will remove a game which they had previously allowed bets on. This may occur due to an injury or some other concern. When this happens, sportsbooks will refund the amount wagered, and a new bet can be placed once the new odds are posted. Occasionally, a sportsbook will still honor the original bet; consult the sportsbook of your choice for their policy.
• I saw that The Palms Las Vegas had one set of odds listed, but Flamingo Las Vegas has a different set listed, will the Flamingo Las Vegas honor the odds listed at The Palms Las Vegas?: Sportsbooks may have various odds for a given game. Note that whatever sportsbook you place a wager at, those odds (which are listed on your ticket) govern the game. Generally, you cannot request different odds other than the ones that are posted.

Other questions related to “-110, +110, or even money” or another Sports Wagering question? Email us at beforevisitingthesportsbook@yahoo.com.