I often get emails asking how Odds work when placing a wager. Here is a brief and general explanation leading into UFC 51 and Pride SHOCKWAVE. I hope this helps and best of luck. - Joey Oddessa (www.BetOddessa.com)

The point spread - also called "the line" or "the spread" - is used as a margin to handicap the favorite team. This is most commonly used in betting football and basketball.For betting purposes, the oddsmaker predicts that the favored team will win by a certain number of points. This number of points is the point spread. The favorite is always indicated by a minus sign (e.g. -5.5) and the underdog by a plus sign (e.g.+5.5). If you bet on the favorite, you win your bet if the favorite wins AND their margin of victory is greater than the point spread. If you bet on the underdog, you win if the underdog wins, ties, or if the favored team wins but fails to exceed the point spread. It is standard for point spread bets in most sports that you wager $110 to win $100.

A money line, used in MMA, Boxing,Baseball and Hockey, takes the place of a point spread. Money line betting is simply wagering on the contest based on a given price rather than a point spread. The team wagered on has to win the game outright, regardless of the score. The minus sign (e.g.-130) always indicates the favorite and the amount you must bet to win $100. The plus sign (e.g.+120) always indicates the underdog and the amount you win for every $100 bet. Using this example, therefore, you would bet $130 to win $100 on the favorite, while for the underdog you would bet $100 to win $120.

The over/under is the number of points oddsmakers expect will be the total combined score of two teams or the amount of rounds a fight must go over or under for the contest (You bet on whether the total points scored will be more or less than this number. As with point spread bets, you must generally wager $110 to win $100.

Betting on a point spread or money line is sometimes called betting "sides" - that is, betting that one side or the other will be the winner - while betting the over/under is referred to as betting "totals".