Table of Contents
- What Do Negative Odds Mean?
- What Do Positive Odds Mean?
- Profit vs. Total Return
- How to Calculate Profit With Negative Odds
- How to Calculate Profit With Positive Odds
- Common Football Odds Examples
- What Is Implied Probability?
- Why -110 Is So Common
- Why Line Shopping Matters
- Are Positive Odds Always Better?
- Are Negative Odds Always Safer?
- Decimal Odds and Fractional Odds
Betting Transparency
- Market Used
- Educational guide - no active selection.
- Current Odds
- Not applicable until linked to a current pick.
- Opening Line
- Not applicable for betting education.
- Current Line
- Update on weekly picks and previews.
- Updated Time
- 2026-07-27
- Risk Note
- Odds can change. Use guides for education, not guaranteed outcomes.
American betting odds use plus and minus numbers to show the price of a wager and its potential payout.
At first, odds such as -110, -150 and +200 may seem complicated. The basic system becomes much easier once you understand what the plus and minus signs mean.
What Do Negative Odds Mean?
Negative odds show how much you need to risk to make a $100 profit.
Examples:
- -110 means risk $110 to make $100.
- -150 means risk $150 to make $100.
- -200 means risk $200 to make $100.
You are not required to wager the full amount shown.
At -200, a $20 wager would produce $10 in profit. A $50 wager would produce $25 in profit.
The more negative the number becomes, the more likely the outcome is considered - and the more expensive it is to bet.
What Do Positive Odds Mean?
Positive odds show how much profit a successful $100 wager would produce.
Examples:
- +120 means a $100 wager produces $120 in profit.
- +200 means a $100 wager produces $200 in profit.
- +350 means a $100 wager produces $350 in profit.
At +200, a $25 wager would produce $50 in profit.
Positive odds generally indicate an underdog or an outcome that the sportsbook considers less likely.
Profit vs. Total Return
Profit is the amount you win beyond your original stake.
Total return includes both the profit and the returned stake.
Example: $100 at +150
- Original stake: $100
- Profit: $150
- Total return: $250
Example: $110 at -110
- Original stake: $110
- Profit: $100
- Total return: $210
Sportsbook bet slips may display either the profit or total payout, so verify which number you are viewing.
How to Calculate Profit With Negative Odds
Use this formula:
Profit = Stake / Odds Number x 100
Ignore the minus sign during the calculation.
Example: $75 at -150
- $75 / 150 = 0.5
- 0.5 x 100 = $50 profit
The total return is $125.
Another example: $40 at -110
- $40 / 110 x 100 = approximately $36.36 profit
The total return is approximately $76.36.
How to Calculate Profit With Positive Odds
Use this formula:
Profit = Stake x Odds Number / 100
Example: $75 at +160
- $75 x 160 / 100 = $120 profit
The total return is $195.
Another example: $40 at +225
- $40 x 225 / 100 = $90 profit
The total return is $130.
Common Football Odds Examples
Point Spread
- Green Bay -3 at -110
- Minnesota +3 at -110
The spread is three points. The -110 is the price attached to each side.
A bettor risks $110 to make a $100 profit.
Game Total
- Over 46.5 at -115
- Under 46.5 at -105
The total is 46.5 points. The over is slightly more expensive than the under.
Moneyline
- Green Bay -155
- Minnesota +135
Green Bay is the favorite. Minnesota is the underdog.
A $155 Green Bay wager would produce $100 in profit. A $100 Minnesota wager would produce $135 in profit.
Player Prop
- Quarterback over 249.5 passing yards at -120
- Quarterback under 249.5 passing yards at -110
The yardage line and the betting price are separate. You must evaluate both.
What Is Implied Probability?
Betting odds can be converted into the probability implied by the price.
For negative odds, use:
Odds Number / (Odds Number + 100)
Example: -150
- 150 / 250 = 0.60
- Implied probability: 60%
For positive odds, use:
100 / (Positive Odds + 100)
Example: +150
- 100 / 250 = 0.40
- Implied probability: 40%
This helps bettors compare their own estimate with the sportsbook's price.
If you believe an outcome has a 50% chance of occurring but the odds imply only a 40% chance, the wager may offer value.
Your estimate still needs to be accurate. A difference between your opinion and the sportsbook's number does not automatically mean the market is wrong.
Why -110 Is So Common
Point spreads and totals are commonly priced at -110.
At -110, a bettor needs to win approximately 52.4% of wagers to break even over time.
Consider 10 bets of $110 each:
- Five wins produce $500 in profit.
- Five losses cost $550.
- Net result: a $50 loss.
Winning exactly half is not enough because the sportsbook charges a price on each wager.
This built-in advantage is known as the juice or vig.
Why Line Shopping Matters
Different sportsbooks may offer different odds on the same outcome.
Example:
- Sportsbook A: Team +3 at -115
- Sportsbook B: Team +3 at -105
The spread is identical, but Sportsbook B offers a better price.
Suppose you make 100 wagers at the same stake. Consistently paying -105 instead of -115 can substantially improve your long-term result.
Line shopping also matters with positive odds:
- Sportsbook A: Player touchdown at +140
- Sportsbook B: Player touchdown at +165
If the player scores, the second sportsbook provides $25 more profit on a $100 wager.
Are Positive Odds Always Better?
Positive odds provide a larger potential profit relative to the stake, but they also represent outcomes considered less likely.
A +300 wager is not automatically better than a -110 wager. The correct question is whether the offered price is better than the true probability of the outcome.
A large payout can still be a bad bet.
Are Negative Odds Always Safer?
Negative odds usually indicate that the sportsbook considers the outcome more likely, but no wager is guaranteed.
A -500 favorite can lose. Because of the expensive price, one loss can erase the profit from several wins.
Probability and value are not the same thing. A likely outcome can still be overpriced.
Decimal Odds and Fractional Odds
Some sportsbooks allow users to change the odds format.
American odds might display as:
- -110
- +150
Decimal odds might display as:
- 1.91
- 2.50
Fractional odds might display as:
- 10/11
- 3/2
The underlying wager is the same. Only the display format changes.
American odds are common in the United States, while decimal odds are widely used internationally.
Common Odds-Reading Mistakes
Mistaking Return for Profit
A $100 wager at +200 returns $300 total, but the profit is $200.
Ignoring the Price Beside the Spread
A team at -3 and -140 is much more expensive than the same team at -3 and -110.
Assuming a Favorite Is a Better Bet
Favorites win more often, but the price may be too expensive.
Choosing Odds Based Only on the Payout
Large positive odds are attractive because the outcome is less likely.
Failing to Compare Sportsbooks
Accepting the first available number can reduce your potential profit and increase your long-term cost.
Final Thoughts
Reading American odds requires understanding three things:
- Negative odds show how much you must risk to make $100.
- Positive odds show how much profit a $100 wager can produce.
- Every price represents an implied probability.
Once you understand these concepts, you can compare wagers based on both risk and potential return.
Do not ask only, "Will this bet win?" Also ask, "Does the price fairly represent the probability of this outcome?"
That distinction is one of the foundations of responsible, informed sports betting.
Responsible gambling notice: Sports betting involves financial risk. Set a budget, use consistent wager sizes and never chase losses or wager money needed for essential expenses.
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