What Does ‘Price’ Mean in Sports Betting?
In the simplest terms, “Price” is just another word for the Odds.
It tells you how much a bet will cost you or how much it will pay out.
While you might hear people say “the line” or “the spread,” the Price specifically refers to the payout number (the odds) attached to that bet.
How to Spot the “Price” vs. “The Line”
This is the most common confusion for new bettors. Let’s look at a standard NFL bet on a betting app:
Chiefs -3.5 (-110)
- The Line (Spread):-3.5
- (This is the handicap. The Chiefs must win by 4 or more.)
- The Price (Odds):-110
- (This is the cost. You must bet $110 to win $100.)
When a professional bettor says, “I don’t like the price on the Chiefs,” they aren’t complaining that the Chiefs have to win by 3.5 points. They are complaining that -110 is too expensive (maybe they want +100 or -105).
Common Phrases You’ll Hear
- “Short Price”: The odds are very low (e.g., -250), meaning you have to risk a lot to win a little. This usually applies to a heavy favorite.
- “Long Price”: The odds are high (e.g., +500), meaning a small bet wins a lot. This applies to underdogs.
- “Pricing the Market”: This is when oddsmakers (or bettors) calculate what the odds should be for a game.