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the money line cancels out the spread. when you bet the money line you are betting that the team will win (no spread).
that money line does not seem right with a 7.5 point spread though.
if the spread were a pk or -1 then that money line would be correct, but on a 7.5 point spread the money line should be more like -180/+170 (i haven't bet in a while so i don't know what the money line on 7.5 points is anymore, i'm just trying to show that is should be a lot higher than -110)
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