There are two important ways of interpreting probability. One has to be Point Spreads and the other money lines. Though betting is almost the same in both sportsbook betting odds, because you bet on who is going to win, point spreads differentiate because they establish a number of points in which the winner needs to have over the loosing team.
For example, the Patriots are playing against the Raiders. You are betting for the Raiders that have a -6 on their points when the Jets have +6 points as showed by the established sportsbook odds. Now the Raiders need to beat the Jets with more than 6 points so you can win your bet. If the final score ends up tie then there is no action and nothing is won or loose. If the Raiders win by less than 6 points then you loose your bet.
Sportsbook odds like Money Lines are even much simpler to understand. Teams doesn't need to win by a number of points, they just need to win the game. For example, Offshore Sportsbook odds show the Patriots with -110 against the Colts with +110. If you bet a $110 on the Patriots and they win you get $100. If you bet $100 on the Colts and they win you get $110. So these sports betting odds are basically balanced to persuade bettors to bet on the underdog too and reach a level between both sides of bets.
Sportsbook odds are made as simpler as possible so bettors can analyze their chances quick. My suggestion is that you try with point spreads in your next bet, you will notice how easy is to understand while catching the instinct is a matter of experience.
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