Definition
The team or outcome the market expects to win, priced with negative odds (e.g. −150) or laying points on the spread. A bigger negative number means a stronger favorite.
Related terms
- Underdog (Dog) — The side the market expects to lose — priced with positive odds (e.g. +130) or getting points. Pays more than even money.
- Moneyline — A bet on which team wins outright, no point spread. Favorites carry negative odds, underdogs positive odds.