The only reason we even have sports wagering is because of Las Vegas odds makers. Simple bet-the-winner wagering is untenable without a betting line because sports books would go out of business in a week due to lopsided betting. By establishing odds in the form of a betting line, the action gets evened out on both sides of any given match, allowing a prosperous future for the sports book owner.

There are relatively few games in which the opponents are evenly matched, and yet an evenly matched betting pool is the only way that wagering can sustain itself. By determining the number of points to add or subtract to the winner's or loser's scores, Vegas handicappers establish a betting line or point spread. When the perfect line is chosen, half of the bettors will pay off the other half, while the sports book keeps the juice.

Lay It on the Line

The Monday morning line out of Nevada reflects the informed opinions of a handful of experts as to how many points must be shifted to level the playing field for that weekend's games. If the public starts to bet too much on one side of the line, the spread may shift slightly to even things out again. If the spread is four points, the favored team must win by at least five points to cover the spread in order for bettors to collect. Conversely, if the underdog loses by fewer than five points, all bets on that team are paid.

These Vegas sports betting lines can seem frustrating to the occasional gambler who just wants to bet on who will win the game. There is another Vegas line for people who feel this way, one known as the money line. Those willing to risk losing more than may win can place a bet on who they predict the straight-up winner of a game will be.