Football odds are the determined odds of probability for the outcome of an NCAA Football or NFL Football game. These odds reflect the amount of wagers being placed on each team, as opposed to specific skill analysis of the teams. The odds will fluctuate as bettors place bets and bookmakers adjust the odds to try and achieve an equal balance of money on both sides of a betting proposition.c

There are two formats in which odds are expressed in the U.S. One is the fractional style, they are represented as a ratio of the amount won to the stake wagered. 1/2 odds means that $1 is won for every $2 wagered; 3/1 odds means that $3 is won for every $1 wagered. The other format is called the money line. It represents the amount won on a stake of 100 when positive and the stake needed to win 100 when negative. In this example, -150 odds means that you have to risk $150 to win $100; +300 odds means that you would win $300 for $100 wagered.http://plaza.ufl.edu/fabiann/betting-odds.html

Another format seen in college football odds, technically are a form of handicapping, but are often also referred to as odds, this is the point spread. In this format, both teams have a -110 money line, but one team is established as a favorite and is handicapped in points. A team favored at -7 1/2 points, means that in order for the wagerer to win, that team would have to win by more than 7 1/2 points, otherwise, the other team would be the victor of the bet.http://msn.foxsports.com/nfl/odds/spread

Another popular wagering selection for which odds are released is the OVER/UNDER proposition.  This is a wager, not on which team will win, that is irrelevant to it; rather, it is based on the sum of the score of the two teams. Odds for over/under wagers are released as a whole number or a whole number with a fractional ending. An over/under of 38 1/2 means that you can bet that the combined score will total either over or under 38 1/2. These type of bets usually have a -110 money line attached for both selections.http://msn.foxsports.com/nfl/odds/spread