Sportsbooks organize most games around three core markets: moneyline, point spread, and totals (over/under). Each asks a slightly different question about the same event. Understanding those questions—and the small print around settlement, pushes, and overtime—helps you read a board with confidence and manage expectations.
Moneyline: Who Wins the Game?
The moneyline is the simplest market: it asks which team or player will win. Prices are expressed with odds that show the favorite and the underdog. A negative number often marks the favorite; a positive number often marks the underdog. You’re selecting the winner, not the margin.
Settlement basics: the market settles on the official result declared by the league or competition. In many sports, a two-way moneyline has only two outcomes because ties don’t occur or are not offered. In sports where a draw is possible, you may see a “three-way” moneyline (home/away/draw). Some listings use “draw no bet,” which removes the draw as a losing outcome and returns stakes if the game ends level. Always read the label on the market you’re choosing.
Pushes: a push on the moneyline can occur only if the rules of that specific market allow for a tied result to return stakes. For example, a “draw no bet” label signals that outcome. Otherwise, moneyline wagers typically resolve as win or loss.
Overtime: whether extra periods count depends on the market terms. Look for language such as “incl. OT” or “regulation only.” If a market is “regulation only,” overtime is ignored for settlement, and only results after the regulation period decide the bet. If it says “incl. OT,” the final winner after any extra time is what matters.
Point Spread: Who Covers the Handicap?
The point spread asks whether a team will “cover” a handicap set by the book. The favorite gives points (a minus number), and the underdog receives points (a plus number). You’re not simply picking the winner; you’re betting on performance relative to the posted number.
Settlement basics: add the spread to the underdog’s score or subtract it from the favorite’s score. If the adjusted score favors your selection, the bet wins; if not, it loses.
Pushes: whole-number spreads, like -3 or +6, can lead to a push if the adjusted scores finish exactly level. In that case, most standard spread bets return the stake. Half-point spreads (for example, -3.5) eliminate the possibility of a push because the result cannot land exactly on the number.
Overtime: check the listing. Some spread markets include points scored in extra time; others settle on regulation only. The ticket or on-screen market name usually states this with terms like “incl. OT,” “OT not included,” or “regulation only.”
Totals (Over/Under): How Many Points, Runs, or Goals?
Totals focus on the combined number of points, runs, or goals in a game. You pick “over” or “under” the posted number. There are also variants—team totals, period/quarter totals, and alternate totals—but the core idea is the same: compare the final tally to the line.
Settlement basics: the market settles on the official scoring total for the period covered by the bet. For a full-game total, that’s the combined final score.
Pushes: if the total is a whole number and the final tally lands exactly on it, the result is generally a push with stakes returned. Lines with a half-point remove this scenario.
Another relevant guide on this site is Pushes, Voids, and Dead Heats: How Sports Bets Settle When Results Aren’t Straightforward.
Overtime: whether extra-time scoring counts is determined by the market name. “Incl. OT” means those points or goals are included; “regulation only” excludes them. Read the label before you confirm the wager.
How to Read Market Terms and Labels
- Two-way vs. three-way: two-way markets offer two outcomes; three-way adds the draw. The presence of a third option changes both risk and settlement possibilities.
- Regulation only vs. incl. OT: these phrases tell you whether extra periods count. They appear across moneyline, spread, and totals markets.
- Draw no bet: if the match ends level, stakes are typically returned rather than graded as a loss. This label is common where draws are part of regular play.
- Alternate lines: books may offer multiple spreads or totals around the main number. Different lines come with different odds because the likelihood of each outcome changes.
- Odds formatting: the numbers attached to each side reflect the price and include the bookmaker’s margin. Compare prices and terms, not just the headline number.
Pushes, Voids, and Abandoned Games
Pushes return the stake when the result lands exactly on the number or when specific labels (such as “draw no bet”) apply. A void occurs when a book’s house rules specify cancellation—for instance, certain postponements or incomplete matches. Because policies vary, always review the market’s terms before placing a bet; the small print governs settlement.
Entertainment, Not Financial Planning
These markets add structure to watching sports, but they do not provide predictable income. Prices reflect uncertainty, and short-term results can swing widely. If you choose to bet, set a budget you can afford to lose and treat it as paid entertainment. The NCAA’s educational materials discuss how wagering intersects with sport and why boundaries matter.
For a refresher on reading bet types and table labels in another context, see our overview of game structures in Craps Table Basics for New Players.
Quick Checklist Before You Confirm
- Identify the market question: winner (moneyline), margin (spread), or scoring total (over/under).
- Scan for labels: two-way/three-way, “regulation only,” “incl. OT,” or “draw no bet.”
- Note the number type: whole or half-point—this affects push possibilities.
- Understand that odds include the house’s edge and do not imply certainty.
- Decide your stake within a preset entertainment budget.
Responsible gambling reminder: play only with discretionary funds, set time and spend limits, and take breaks. If betting stops being fun or feels pressured, step away and seek support resources in your area.