“ A Test of Efficiency in NBA Point Spread Markets,” Pages 1–2 (Pages 7–8 of PDF).Īstellas Pharma, via SSRN. OhioLINK (Ohio Library and Information Network), Electronic Theses & Dissertations Center. If, for example, a football game had a money line of Team A (+150) and Team B (-170), then the bettor immediately knows a couple of things: Team B is expected to win, and a bet on it will also pay out less, because it is favored. Bookmakers separate out teams into favorites and underdogs. There’s a negative integer for the team considered more likely to win (the favorite) and a positive integer for the one considered more likely to lose (the underdog). The “money line,” in betting terminology, refers to the integers that show the payoffs for betting on a game.

Gambling always involves a negative expected return-the house always has the advantage.Payouts still take into account the odds of a game, with the teams split into two neatly organized categories: favorite and underdog.A money line bet is considered to be the least complicated kind of bet because what is at stake is so straightforward: who will win.The term “money line” represents the payouts for winning the bet, with a negative integer for the underdog and a positive one for the favorite. Money line bets are bets placed on a game’s conclusion.

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