How to read American betting odds
By the Match Tail team ·
American odds are common at US sportsbooks. They look odd at first, with plus and minus signs and numbers in the hundreds. Once you see that they are all built around a $100 bet, you can read any line in a few seconds. This guide shows the formulas, the payouts and how to turn odds into a win chance.
What do American odds mean?
American odds, also called moneyline odds, are built around a $100 bet. A plus number such as +150 is the profit you make on a $100 stake. A minus number such as -110 is how much you must stake to make $100 in profit. When a bet wins, you also get your stake back.
The sign sets the payout relative to your stake. With a minus price you risk more than you can win. With a plus price you can win more than you risk. On a moneyline, the favorite usually carries the minus price, but in a close game both teams can carry minus prices. On spreads and totals, the price is about covering the line, not about who wins, which is why -110 on both sides is common there.
- +150: stake $100, profit $150, total back $250.
- -150: stake $150, profit $100, total back $250.
- +100 and -100 both mean even money: stake $100, profit $100.
You never have to bet $100. The $100 is only the reference point. The next section shows how to scale the payout to any stake.
How do you calculate the payout on plus and minus odds?
For plus odds, profit equals your stake times the odds divided by 100. For minus odds, profit equals your stake times 100 divided by the odds, ignoring the minus sign. Add your stake to the profit to get the total return. A $20 bet at +150 returns $50 in total.
Plus odds: profit = stake × (odds ÷ 100)
Minus odds: profit = stake × (100 ÷ odds without the sign)
$20 at +150: 20 × (150 ÷ 100) = $30 profit, $50 back
$20 at -110: 20 × (100 ÷ 110) = $18.18 profit, $38.18 back
$50 at -250: 50 × (100 ÷ 250) = $20 profit, $70 back
$10 at +400: 10 × (400 ÷ 100) = $40 profit, $50 back
| Odds | Stake | Profit | Total back |
|---|---|---|---|
| +150 | $20 | $30.00 | $50.00 |
| -110 | $20 | $18.18 | $38.18 |
| -250 | $50 | $20.00 | $70.00 |
| +400 | $10 | $40.00 | $50.00 |
Sportsbooks round to the cent, so a -110 payout often shows as $18.18 on a $20 stake. If a bet slip shows a different number, check whether it is showing profit or total return.
How do you convert American odds to implied probability?
Implied probability is the win chance the odds price in. For plus odds, divide 100 by the odds plus 100. For minus odds, take the odds without the sign and divide by that number plus 100. So +150 implies a 40% chance and -110 implies a 52.38% chance.
Plus odds: 100 ÷ (odds + 100)
Minus odds: odds ÷ (odds + 100), using the number without the sign
+150: 100 ÷ 250 = 0.40 = 40%
-110: 110 ÷ 210 = 0.5238 = 52.38%
-250: 250 ÷ 350 = 0.7143 = 71.43%
+400: 100 ÷ 500 = 0.20 = 20%
Implied probability is the most useful number on the screen. It tells you how often a bet has to win just to break even. A -110 bet must win more than 52.38% of the time to make money over many bets. If you think a team wins less often than its odds imply, the price is not worth taking. Our guide to expected value shows how to turn that comparison into a dollar figure.
How do you convert American odds to decimal and fractional odds?
To get decimal odds from plus odds, divide by 100 and add 1. From minus odds, divide 100 by the odds without the sign and add 1. Decimal odds include your stake, so +150 becomes 2.50 and -110 becomes 1.91. Fractional odds are the profit part of decimal odds written as a fraction.
| American | Decimal | Fractional | Implied |
|---|---|---|---|
| +150 | 2.50 | 3/2 | 40.00% |
| -110 | 1.91 | 10/11 | 52.38% |
| -250 | 1.40 | 2/5 | 71.43% |
| +400 | 5.00 | 4/1 | 20.00% |
| +100 | 2.00 | 1/1 | 50.00% |
Decimal from plus odds: 1 + (odds ÷ 100). From minus odds: 1 + (100 ÷ odds without the sign)
Fractional from plus odds: odds/100. From minus odds: 100/odds without the sign. Then simplify
+150: 1 + (150 ÷ 100) = 2.50. Fractional 150/100 = 3/2
-110: 1 + (100 ÷ 110) = 1.91. Fractional 100/110 = 10/11
-250: 1 + (100 ÷ 250) = 1.40. Fractional 100/250 = 2/5
+400: 1 + (400 ÷ 100) = 5.00. Fractional 400/100 = 4/1
+100: 1 + (100 ÷ 100) = 2.00. Fractional 100/100 = 1/1
Decimal of 2.00 or more: American = (decimal − 1) × 100
Decimal under 2.00: American = −100 ÷ (decimal − 1)
2.75: (2.75 − 1) × 100 = +175
1.80: −100 ÷ 0.80 = -125
Decimal odds are the easiest format for parlays, because you multiply the legs together. Our parlay odds guide uses them for every calculation.
Why do both sides of a game add up to more than 100%?
Both sides add up to more than 100% because the sportsbook builds its margin, called the vig or juice, into the prices. At -110 on each side, each side implies 52.38%, which totals 104.76%. The extra 4.76 points are the overround. Dividing each side by the total gives the fair, no-vig chance.
Even game, -110 / -110: 110 ÷ 210 = 52.38% each side, 52.38% + 52.38% = 104.76%
Fair chance each side: 52.38 ÷ 104.76 = 50.00%
Favorite -150 / underdog +130: 150 ÷ 250 = 60.00% and 100 ÷ 230 = 43.48%, total 103.48%
Fair favorite: 60.00 ÷ 103.48 = 57.98%
Fair underdog: 43.48 ÷ 103.48 = 42.02%
The fair numbers are an estimate of what the market really thinks, without the sportsbook margin. They are the starting point for judging whether a price elsewhere is a good one. Because of the margin, the win rate a bet needs to break even sits a little above its fair chance. How high that rate is depends on the price: -110 needs 52.38%, while +150 needs only 100 ÷ 250 = 40%. Our guide to moneylines, spreads and totals shows how that plays out on each bet type.
How do you read a full betting line on a sportsbook?
A full line usually shows three markets for each game: the moneyline, the point spread and the total. The moneyline has one price per team. The spread shows a points handicap plus a price, such as -3.5 at -110. The total shows a combined points number with an over price and an under price.
| Market | Team A | Team B |
|---|---|---|
| Moneyline | -170 | +150 |
| Spread | -3.5 (-110) | +3.5 (-110) |
| Total | Over 47.5 (-110) | Under 47.5 (-110) |
In this example, Team A is the moneyline favorite. A $170 moneyline bet on Team A wins 170 × (100 ÷ 170) = $100 if Team A wins. A $110 spread bet on Team A wins 110 × (100 ÷ 110) = $100 only if Team A wins by four or more. A $110 bet on the over wins the same $100 if both teams score 48 or more points combined.
Once you can read a line, the next skill is deciding how much to stake. Our guide to bankroll management and betting units covers that. If you would rather follow bets than build them, Match Tail lets you copy the bets we place and tells you when to open or close each one.
What else should you know?
What does +200 mean in betting?
+200 means a $100 bet makes 100 × (200 ÷ 100) = $200 in profit, so you get 100 + 200 = $300 back in total. The implied probability is 100 ÷ (200 + 100) = 33.33%.
What does -110 mean in betting?
-110 means you stake $110 to make $100 in profit. It implies 110 ÷ (110 + 100) = 52.38%, which is the win rate you need to break even at that price.
Is +100 the same as -100?
Yes. Both are even money: a $100 stake makes $100 in profit, and both imply 100 ÷ (100 + 100) = 50%.
Do American odds include my stake?
No. American odds show profit only. Your stake comes back on top when the bet wins. Decimal odds are the format that includes the stake.
Only bet money you can afford to lose. If betting stops being fun, call or text the National Problem Gambling Helpline at 1-800-MY-RESET (1-800-697-3738).