Betting on sports can be an exciting way to engage with your favorite games and potentially make some money. In the United States, betting odds are commonly represented in what is known as American odds or moneyline odds. Here’s a guide to understanding these odds:
Positive Odds (+)
- Positive odds indicate how much profit you would make on a $100 bet. For example, if the odds are +150, a $100 bet would yield a $150 profit if you win.
Negative Odds (-)
- Negative odds show how much you need to bet to win $100. For instance, if the odds are -150, you would need to bet $150 to make a $100 profit.
Even Odds
- Even odds (sometimes shown as +100 or -100) mean you would win the exact amount you bet. A $100 bet would result in a $100 profit.
Calculating Payouts
- To calculate your total payout for positive odds: Total Payout = (Bet Amount * (Odds / 100)) + Bet Amount.
- For negative odds: Total Payout = (Bet Amount / (Odds / 100)) + Bet Amount.
Examples
- If the odds are +200, a $50 bet would result in a $100 profit ($50 * (200/100)) for a total payout of $150.
- If the odds are -200, a $50 bet would result in a $25 profit ($50 / (200/100)) for a total payout of $75.
Implied Probability
- American odds can also help you understand the implied probability of a particular outcome. For positive odds: Implied Probability = 100 / (Odds + 100). For negative odds: Implied Probability = -Odds / (-Odds + 100).
Understanding these basics can help you make more informed decisions when placing your bets. Always remember to gamble responsibly.
Winning isn’t everything, but wanting to win is
Vince Lombardi
