In sports betting, you’ll often see odds given in a few different ways, including: For example, if the Patriots are playing the Jets, betting sportsbooks will put “odds” on either the Jets winning or the Patriots winning, depending on how likely each outcome is.Ī simple analogy: If you were betting on a coin flip, your odds would be 50% tails, 50% heads. It is also easy to convert American odds to fractional or decimal odds, and can easily be done using our online odds converter.Betting Odds Calculator and Converter What are betting odds?īetting odds are the chance that a particular event will have a particular result. Just like any other format, it is all personal preference. ConclusionĪmerican odds are convenient and fast once you get accustomed to them. On the other hand, underdog plus odds help your bottom line.

As we discussed, odds worse than -110 can hurt your break-even percentage and should be taken into account even when betting spreads. Here’s an example from the NFL:Īmerican odds give the bookmaker influence over the point spread without changing the key number of 3.

So any +200 underdog that wins 34%+ of the time is a profitable bet.Īmerican odds are attached to point spreads in most American sports such as the NFL and NBA. How often do they have to win for us to break even? We take a $100 risk and divide by the ultimate payout of $300 and get. Here’s another example based on a +200 underdog. You either lose $100, win $350, or your wager is a push. A +350 underdog means you risk only $100, but you win $350.You either lose $135, win $100, or your wager is a push. A -135 favorite means you must risk $135 to win $100 from the sportsbook.

For favorites you are always risking the money to win $100, and with underdogs you risk $100 to win the amount. What Do the Odds Mean?Īmerican odds always use a baseline value of $100. So a +200 underdog has a better chance to win than a +500 underdog.Ĭheck out the betting markets at our highest-rated bookmakers to see how they price up games in American odds. The higher the number, the larger the underdog. Underdogs come with a ‘+’ symbol attached. 200 is greater than 120, so this is what we mean by absolute value – you ignore the ‘–’ sign and take just the number when considering this. For example, a -200 favorite has a better chance to win than a -120 favorite. The higher the absolute value of the number, the better the chance the bet will win. There are two basic types: favorites and underdogs.įavorites come with a ‘–’ symbol attached. A pick ’em is listed as “pk” or “pick” or “pick ’em”, depending on the sportsbook’s preference. American odds are simply one way to express odds.

What does 45 odds mean