Pretty good esplantion Glenn and Foo.
I bet football back in the day. Money line is just as you describe, no handicapping by points, they handicap the payback, so to speak.
And Foo, I think you're right. With so many teams and only one team can win, the house would prolly have a little kitty of cash to make paybacks. And ofcourse they'd hope for an even odds team to win.
BBall has the same moneyline betting...interesting. I'm about an hour from Reno.
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