PK is an abbreviation for Pick’Em in spread betting, referring to a betting market with a spread of zero (0) and equal odds – in other words, both teams or players being of the same ability, with no clear favorite.
But, what does PK mean in betting, and how does it work in different sports? Get ready to learn about reading PK betting odds and find out some handy strategies, plus all the pros and cons.
What Does PK Mean in Betting?
So, what does PK mean in sports betting? In a nutshell, PK in sports betting refers to a level betting market where there is no favorite between two teams or players. Also popularly referred to as “Pk’Em” or “Pick” for simplicity. The betting bracket may present the point spread as ‘0’ or use the abbreviation “PK,” as shown in the example below based on an NBA game between Sacramento Kings and Utah Jazz:
How to Read PK Odds
Understanding how PK sports betting works requires a firm understanding of point spread betting. A spread in betting refers to the number of points added or subtracted from a team pre-game. The logic behind it is reasonable.
Most games usually pit one stronger team/player (favorite) against a weaker one (underdog). The favorite is also known as ‘the chalk’ in betting, and is more likely to win, so bookies use spread to even the playing field. Ideally, everyone would bet on the favorite and win, denying bookies opportunities to make money. To this end, the bookie deducts some points from the favorite and adds some points to the underdog.
A negative (–) sign indicates deducted points, while a positive (+) sign indicates added points. The favorite team/player must score more points than indicated in the spread to win, while the underdog shouldn’t lose by more points than indicated in the spread.
However, the moneyline odds aren’t always equal for PK betting markets. They usually vary slightly for most sports betting markets, such as football and basketball. Interestingly, they usually vary considerably in soccer betting, as shown in the example below, where Everton have odds of +139 and Wolves +218.