Favorite
What does "favorite" mean in sports betting?
The favorite is the side the market expects to win. On a moneyline it has a minus number, and on a spread it gives up points.
A minus number shows how much you risk to win $100. The bigger the number, the more likely the market thinks that side is to win, and the higher your breakeven.
Favorites win more often than underdogs, but that doesn't make them safe. A favorite is only a good bet if it wins more often than its implied probability says.
Example
Team A is -250. You risk $250 to win $100, and the price implies 250 / 350 = 71.43%, which is your breakeven. If Team A is also -6.5 on the spread, it has to win by 7 or more to cover.
Related terms
Moneyline
A moneyline bet is a wager on which team or fighter wins outright, with no point spread involved.
Point spread
The point spread is a handicap that evens out a matchup: the favorite has to win by more than the spread, and the underdog covers by losing by less than it or winning outright.
Implied probability
Implied probability is the win chance a price suggests. It turns odds into a percentage so you can compare them with your own estimate.
Underdog
The underdog is the side the market expects to lose. On a moneyline it usually has a plus number, and on a spread it gets points.
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