As we head into the Ryder Cup week, the betting odds are unchanged from where they were two weeks ago. A survey of oddsmakers at online betting sites gives the following range of odds:
Europe: -150 to -175
USA: +150 to +175
Nothing has happened in the weeks running up to the Ryder Cup to make Europe anything other than the substantial favorite for the betting oddsmakers.
Here’s how you read those odds:
With Europe, you would have to bet somewhere between $150 and $175 to win $100. With the United States, you would win $150 to $175 by betting $100. A hundred dollar bet would net you a thousand if the two tie, so the oddsmakers are really not expecting that result.
Bookies generally will make money only when the underdog wins. The ideal situation is to have an equal amount of cash bet on each team, which practically guarantees a profit. Since the bookie realizes that more people are going to bet on the favorite, the money line has to be set in such a fashion that encourages people to bet on the underdog. As better confidence in the favorite increases, the differential in the money line will get larger.