What Does “plus” And “minus” Mean In Sports Betting?
You’re most likely to come across American odds when you’re betting at American sports betting sites. This odds expression indicates a bettor’s return relative to a base figure of 100 units. American odds start with either a positive or negative sign (e.g. -200 or +200). A minus sign indicates a bookie’s favorite to win while a plus symbol indicates an underdog. A -250 favorite has a better chance of winning an event than a -150 favorite, while a +200 underdog has a better chance of winning than a +500 underdog. American odds are represented in moneyline form, with potential winnings and risk measured against example bets of $100 each.
The resulting number reflects both your winnings and your stake. Betting odds are used to determine probability and calculate the winnings from a bet and are often seen in their decimal or fractional form. Odds are commonly recognised as being even, long, or short. Odds are determined by the probability of a certain outcome arriving.
Note that even though spreads use the same symbols as American odds, spreads and odds are two distinct things, and it is important to make that distinction. If you are betting the moneyline, you are betting on who you think will outright win. Betting the moneyline is tricky because you have to find value in your bets. Even if you’re extremely confident in what you think the outcome will be, it doesn’t always make sense to bet it if the odds aren’t good.
Say you thought one team had a 60% chance of winning, and it was available at 52.4% implied probability. If the decimal is below 2, you are betting on the favorite. For example, if you are given odds of 1.91, you’re risking 1 unit to win 0.91 units in profit, or rather you will be collecting 1.91 units.
From NFL betting to horse racing wagers and everything in-between, knowing how to read odds for betting is key to knowing how much to bet to win a certain amount of profit. There’s always luck and chance involved in sports betting, but understanding how to read odds helps you make an informed bet. If you believe an outcome is more likely than the implied probability, you have an optimal chance of winning a return on your wager. The decimal odds format, also known as European odds, represents the multiple of your stake that you will get back for winning a bet. While these are more common at overseas betting exchanges, you may see these at US betting sites.
If you bet the Cowboys -7 and they win by more than seven points, you win your bet. Similarly, if you bet the Packers +7, as long as they lose by less than seven points or win outright, you win your bet. Compare.bet US has the latest on the best legal sportsbooks in your state. Whichever format odds are written in, they all have an equivalent in another format. While some sites, such as William Hill’s Jersey sportsbook, allow bettors to change odds formats, it is useful to understand how to calculate odds between formats.