How does the "betting line" work? (1 Viewer)

[Wilbur Wood]

Forget the point spread.

If I want to place an outright bet this weekend on the Pats to win, help me understand how this works.

I see the following data out of Vegas +600/-800 but I don't understand what that is in reference to.

I would imagine that to simply bet on the Pats to in I would have put up ~ $350 to win ~ $100 or something like that.

I am in the process of developing a "hedging" strategy for a high stakes survivor pool.

Thanks

 

[Tremendous Upside]

It's called the moneyline, and at -800 it means you'd have to bet 800 dollars just to win 100 dollars...

 

[ICLight]

The "minus (-) number" is how much you have to bet on that team to win $100; the "plus (+) number" is how much you win if you bet $100 on that team

 

[ravnzfan]

Forget the point spread.

If I want to place an outright bet this weekend on the Pats to win, help me understand how this works.

I see the following data out of Vegas +600/-800 but I don't understand what that is in reference to.

I would imagine that to simply bet on the Pats to in I would have put up ~ $350 to win ~ $100 or something like that.

I am in the process of developing a "hedging" strategy for a high stakes survivor pool.

Thanks

@that price, $100 on SD wins $600 and $800 on NE wins $100not for the feint of heart :X

 

[Wilbur Wood]

Thanks guys. I thought it was something like that. Been a long time since I used to bet baseball games outright and back then $5 was the "baseline unit".

So a line of 9/11 meant that for every $5 increment you'd win $9 if you bet and won with the underdog and lose $11 if you bet on and lost with the favorite.

 

[NYG Endzone]

Whats a "baseline unit" these days? Just curious