Understanding how to read American odds. So, the “-” and “+”—in online sports betting is critical to ensuring you’re receiving the most value for your money.
American odds are accessible at the regulated online sportsbooks in any state. Odds are another term for the price of a gamble.
Odds are the focal point of both online and in-person sports betting. We’ll break it down by looking at underdogs, favourites and all things necessary!
There are two fundamental symbols in American odds: the “plus” sign (+) and the “minus” or “negative” symbol (-). These are common symbols in the industry in North America.
The symbols “+” and “-” are placed in front of odds or lines to indicate favourites and underdogs. Favorites will be denoted by a minus sign, while underdogs will be denoted by a plus sign.
This is true for all bet types, including moneylines and point spreads.
When you’re looking at a bet, these symbols will provide you a quick and obvious indicator of which outcome the online sportsbook believes is more likely.
While all odds formats show the same information, albeit in various ways, American odds have advantages and downsides.
The American odds are good for quickly evaluating and calculating payouts, especially when using a single $100 wager. The “+” odds indicate what you will win with a $100 wager; the “-” odds indicate how much you will need to wager to win $100.
If you wish to calculate an implied winning probability, you must use fractional odds.
Odds of +200 indicate that you will win $200 on a $100 wager, but there is no simple way to calculate the implied winning chance. If these odds were fractional (2/1), you could rapidly answer for the implied winning probability using the following formula:
Decimal / (Numerator + Denominator) x 100%
However, American odds are the standard for how betting odds are shown at online sportsbooks and even during sporting events.
It comes down to personal opinion, but understanding American odds is essential for navigating online sports betting.
Moneyline and point spread
Moneyline and point spread bets are different, but the odds are the most essential because they represent how much money you have to win.
The simplest straightforward bet type in online sports betting is the moneyline wager (who will win the event or contest).
A moneyline of +200 suggests that the club you’re betting on is the underdog. A “-” sign usually indicates a favourite.
When you see this, the simplest way to interpret it is that it will show you how much you need to bet to win $100.
For example, if the odds are -130, you must wager $130 to win $100.
Point spreads are a more difficult bet to make because any odds, both + and -, might exist regardless of whether the team is a favourite or an underdog.
The purpose of a point spread is to make the two teams as equal as possible, taking into account each team’s advantages and weaknesses.
The Tampa Bay Buccaneers, for example, are playing the Los Angeles Rams. The Rams are favoured by two points. The favoured is listed as -2, while the underdog Buccaneers are listed as +2.
