In sports betting, a short price occurs when a particular team or player is heavily favored to win, resulting in low odds and therefore a smaller potential payout. This happens because the likelihood of the favored outcome is high, and many bettors are expected to place their wagers on it, reducing the return on investment. While the chances of winning such bets are greater, the reward is often lower compared to betting on an underdog with longer odds.
Short Price Example
For example, if a highly-ranked tennis player is competing against a much lower-ranked opponent, the odds for the favorite might be 1.20, which would be considered a short price since the expected payout is small due to the higher likelihood of winning.