Glossary
Favorite & Underdog
The favorite is the side expected to win, shown with negative odds (e.g. -150 — risk more to win less). The underdog is expected to lose, shown with positive odds (e.g. +130 — risk less, win more if they pull it off).
In practice
-150 favorite implies about 60% win probability. +130 underdog implies about 43.5%. A genuinely close game might price closer to -110/-110 — barely a favorite at all.
Why it matters here
Which side is favored isn't an opinion — it's a probability, and implied probability and the fair line measure it precisely instead of just eyeballing which team "feels" stronger.