I am going to keep this post short. Essentially, there are three major betting styles. First, and most common, is the spread. This is a handiapping method that either subtracts points from the favored team's final score OR adds points to the underdog team's final score. A simple example is favorite -3.5. So if we see Dallas -3.5 vs. Chicago then anyone who bet on Dallas would only win the bet if Dallas won by 4 points or more. On the other hand, anyone who bet on Chicago would win the bet if Chicago lost by 3 or less (or won outright).
Second style of betting is known as money line. You will see the favorite have a negative value. Which is the amount you have to wager TO WIN $100. For example, Dallas -150 vs. Chicago. If Dallas wins the game outright a bet of $150 dollars on Dallas would pay out $100. On the other hand, the same game might have had Chicago at +130. The positive number means this team is the underdog. The number means how much one would win if they bet $100. So if Chicago wins outright all bettors would win 1.3 (130/100)* their bet.
The final betting style I will walk about is the total or "over/under". This is a bet on the combined score of a game. You will either bet that the final score will be "over" the total or "under" the total. The total is the line advertised by book makers. For example, Dallas vs. Chicago 38.5 means that if the final score adds up to more than or equal to 39 then the over bettors win and if the final score totals less than or equal to 38 than the under bettors win.
This is meant for a quick write up. If you are interested to learn more check out the free crash course or take a small gamble on yourself and invest in the full start to finish basics to calculated risk taking course.
Thanks for reading,