How to read American odds (+150, −110 explained)
American odds (also called moneyline odds) are the default at US sportsbooks. The sign tells you who is favored; the number tells you what a bet pays. Once you know the two rules, every price on a board reads in a second.
The two rules
- Plus (+) odds: profit on a $100 bet. +150 wins $150 on $100. The plus side is the underdog.
- Minus (−) odds: stake needed to win $100. −200 means you bet $200 to win $100. The minus side is the favorite.
+100 sits in the middle: even money. Every American price is at least 100 away from zero; there is no such price as +50 or −80.
Working out a payout
profit (+odds) = stake × odds / 100 · profit (−odds) = stake × 100 / |odds|
What the odds imply
Every price implies a probability: the win rate at which the bet breaks even. −110 implies 52.38%, +150 implies 40%, −200 implies 66.7%. This is the most useful way to compare prices — read the implied probability guide for the formula and why the numbers on both sides add up to more than 100%.
Odds converter
- American
- +150
- Decimal
- 2.50
- Fractional
- 3/2
- Implied probability
- 40.00%
- Profit if it wins
- $150.00
- Total return
- $250.00
Odds on spreads and totals
On a spread or total you see two numbers: the line and the price. “Bills −3.5 (−110)” means the Bills must win by 4 or more, and the bet pays at −110. “Over 47.5 (−105)” means the teams must score 48 or more, paying at −105. Lines move when news or money arrives, and prices move in between — moving from −110 to −120 is the book asking more of you for the same line. In hockey and baseball the spread is usually fixed at 1.5 (the puck line and run line) and the price does the moving.
Small differences add up
−105 instead of −110 does not sound like much, but it lowers the win rate you need from 52.38% to 51.22%. Over hundreds of bets that is the difference between losing and breaking even. That is why the boards on vigged highlight the best value on every side, usually the best price on the main line — see line shopping.
Check yourself
Question 1 of 2A team is +150. What profit does a winning $100 bet make?
Frequently asked questions
What does +150 mean in betting?
+150 means a $100 bet wins $150 in profit, for a total return of $250 including your stake. Positive odds show the profit on a $100 bet and mark the underdog.
What does −110 mean in betting?
−110 means you must bet $110 to win $100 in profit. Negative odds show how much you need to stake to win $100 and mark the favorite. Smaller bets scale the same way: $11 wins $10.
Is −110 or +110 better?
For the bettor, +110 pays more: $100 wins $110 instead of about $90.91. The same bet at +110 instead of −110 needs to win only 47.6% of the time to break even, instead of 52.4%.
What does +100 mean?
+100 is even money: a $100 bet wins $100. It implies a 50% chance. Some books write it as EVEN or EV, and −100 means the same thing.
Why do both sides of a spread show −110?
The spread makes the two sides roughly equal, so both are priced near even money. The −110 on each side instead of +100 is the book’s margin, called the vig or juice.
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