Honestly? American odds may appear more complex than they actually are. Plus signs, minus signs, and numbers like -137 that seem picked by a dartboard. Open a sportsbook on a Sunday morning, and it’s a wall of that stuff.
But understanding how to read American betting odds comes down to just one number – 100. After that, you’ve pretty much got everything you need to know. The rest is practice. (Every line in this post is made up, so don’t go looking for them on a live board.)
Start With the 100
Every American price is built around $100.A minus sign tells you what you’d have to bet to win $100. A plus sign tells you what you’d win from a $100 bet. Two sentences, and that’s the whole system. Everything else in how to read American betting odds is a variation on it.
When you’re just picking a winner, these are called moneyline odds. The same kind of numbers also get stuck onto point spreads and over/unders.
How to Read American Betting Odds on the Underdog Side
A plus sign means underdog. Teams people don’t expect to win pay more, because the sportsbook needs a reason for you to back them.
Take the Dolphins at +120. You put $100 on them, and they win. You collect $120 in profit and get your $100 back, for a total of $220. Odd amounts work too. Put $25 on it and you win $30.At +800, a hundred bucks turns into $800. Fun to think about. Those almost never hit, which is exactly why they pay so well.
How to Read American Betting Odds on the Favorite Side
The negative sign denotes “favoritism,” and the whole idea seems counterintuitive. Betting on bills of -140 means you have to pay $140 to earn a profit of $100; if they do win, the total payout will be $240. A $35 stake gets you a profit of $25.
Large negative figures can easily deceive you. The figure of -400 may sound great, yet it only means that you would be risking $400 for earning just $100. Favorites win less than people like to think.
Reading One Game: Moneyline, Spread, and Total
Look at a single game and you’ll often see three lines stacked up. Bills: -140 on the money line. Bills -3 at -110 on the spread. Over 47.5 at -110 on the total.
That’s three separate bets. The odds are the -140 and the two -110s. The -3 and the 47.5 are point lines, not odds. Plenty of beginners mix those up, and it’s a big part of how to read American betting odds in real life.
What -110 Means and Why It’s Everywhere
Once you know how to read American betting odds, this is the number you’ll see most. You bet $110 to win $100. It shows up on almost every spread and total, on both sides of the game.
So why isn’t it an even $100? The sportsbook takes a cut, called the “vig” or the “juice.” If you could bet both sides, you’d put in $220 and get $210 back. The book keeps $10 whoever wins. I get into spreads more in sports betting odds explained for beginners.Prices change from app to app, too. One shows -105; another shows -115 on the same game.
How to Calculate Your Payout
You don’t need to do this yourself, because the bet slip shows the payout.However, doing so manually a couple of times is the way to learn how to understand American odds for good.
In positive odds: your bet multiplied by odds divided by 100.So $40 at +175 is $70 in profit. Minus odds: your bet times 100, divided by the odds. So $60 at -120 is $50 in profit. Add your bet back to get the total.
What the Odds Say About Win Chances
The last column in that table is the sportsbook’s guess at how likely a team is to win. It’s called implied probability. For plus odds, divide 100 by the odds plus 100. For minus odds, divide the odds by the odds plus 100.
Dolphins +120 works out to 45.5%. Bills—140 works out to 58.3%. Add them and you get 103.8%, with the extra 3.8% being the vig again.
Why care? Because now you can ask whether Miami really wins more than 45.5% of the time. If yes, +120 is a fair price. If no, skip it. Few people bother with this step. A fair price can still lose, and nothing in how to read American betting odds promises otherwise.
American Odds vs Decimal Odds
While others display 2.50 and 3/2 respectively. Equal bet. +150, 2.50, and 3/2 are just three ways of displaying the same thing.
In decimal odds, you get the total returns for each $1 staked.In the case of plus odds, divide the number by 100 and add 1 to calculate the decimal odds. In case of minus odds, you need to divide 100 by the number, remove the minus sign and add 1 to calculate the decimal odd.Knowing how to read American betting odds will make the conversion process easy.
Common Mistakes to Avoid
The major mistake is the confusion between profit and total returns. +120 on $100 gives you $120 profit but $220 goes into your account.
Another is thinking a plus sign means good news. It just means underdog. And some people treat -110 like a coin flip and forget the vig. New bettors learning how to read American betting odds usually hit at least one of these.
Play Smart
Gaming should be a source of enjoyment. Before you begin, determine your gaming budget and stick to it. In most states, people aged 21 years and older are allowed to play legal games. The American Gaming Association is a useful source of information about responsible gaming. If gaming becomes a problem for you, try the National Council on Problem Gambling at 1-800-GAMBLER.
Your Next Step
Pull up any odds screen and pick three bets. Work out the profit on a $10 bet before you look at the slip. Do that a few nights in a row, and how to read American betting odds won’t feel like homework anymore. After that, our bankroll management guide will help you decide how much to put down.
FAQ: How to Read American Betting Odds
What does +150 mean in betting?
You win $150 on a $100 bet. Your $100 comes back too, so the total return is $250. The team is the underdog.
What does -110 mean?
You bet $110 to win $100. It’s the usual price on spreads and totals, and the extra $10 is the sportsbook’s cut.
Is it better to bet positive or negative odds?
Neither is better. Positive odds pay more but win less often. Negative odds pay less but win more often. What matters is whether the price fits the real chance of winning.
Do American odds include my stake?
No. American odds show profit only, which trips up many people learning how to read American betting odds. Add your original bet to get your total return.
