If the odds are -110, that means you have to bet $110 dollars for every $100 you want to win. There are plenty of exceptions however, like when oddsmakers want to shade the line in one direction. Point spread odds vary most in the NFL though, since each point can be quite important and valuable. You see it especially often around key numbers like three and seven in football. A team might be -2. 5 at -120 or -125, while the team that's +2. 5 is a lot less valuable than getting +3, so the payout on a +2. 5 bet would be larger.
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