A simple breakdown of how betting odds work and what they mean
If you’re new to sports betting, seeing odds like -150 or +200 can feel like a foreign language. This guide will break it all down simply so you can bet with confidence.
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What Are Betting Odds?
At their core, betting odds represent two key things:
1. The implied probability of an outcome
2. How much money you can win if your bet is successful
In most North American sportsbooks, odds are displayed using the American odds format, which uses positive (+) and negative (−) numbers.
Negative Odds (Favorites)
If the odds have a minus sign (e.g., -150), that team or outcome is the favorite.
What it means: You need to bet $150 to win $100 in profit.
The lower the number, the more likely the outcomw but the smaller the payout.
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Positive Odds (Underdogs)
If the odds have a plus sign (e.g., +200), that team or outcome is the underdog.
What it means: A $100 bet would win you $200 in profit.
The higher the number, the less likely the outcome—but the higher the reward.