American Odds Explained

American odds are the standard format used by sportsbooks in the United States. If you have ever seen odds displayed as -110, +200, or -150, you have encountered American odds. Understanding how to read them is essential for anyone betting at US sportsbooks.

This guide explains everything you need to know about American odds, including how to read positive and negative odds, how to calculate your potential payouts, and how American odds compare to other formats like decimal odds and fractional odds.

What Are American Odds?

American odds, also called moneyline odds or US odds, use positive and negative numbers to show betting prices. The format centers around a baseline of 100 dollars, making it easy to understand potential profits and required stakes once you learn the basic rules.

Every American odds number tells you one of two things:

• Positive odds (+) show how much profit you win on a 100 dollar bet
• Negative odds (-) show how much you must bet to win 100 dollars in profit

This 100 dollar baseline is just for reference. You can bet any amount you want, and your payout scales proportionally. The plus and minus signs indicate whether the outcome is considered likely (favorite) or unlikely (underdog) by the sportsbook.

American odds are specific to the United States. Bettors in Europe typically see decimal odds, while UK bettors often encounter fractional odds. If you need to compare odds across different formats, our odds conversion guide covers all the formulas.

How to Read Positive American Odds

Positive American odds have a plus sign (+) in front of the number. These odds indicate an underdog or a less likely outcome. The number tells you how much profit you would win on a 100 dollar bet.

The formula is simple: the number equals your profit on a 100 dollar stake.

For example:

• +200 means you win 200 dollars profit on a 100 dollar bet (plus your 100 dollar stake back, for a total return of 300 dollars)
• +150 means you win 150 dollars profit on a 100 dollar bet
• +300 means you win 300 dollars profit on a 100 dollar bet

The higher the positive number, the bigger the underdog and the larger your potential profit. Odds of +500 represent a significant longshot, while +110 is nearly even money.

Positive Odds	Bet Amount	Profit If You Win	Total Return
+100	$100	$100	$200
+150	$100	$150	$250
+200	$100	$200	$300
+300	$100	$300	$400
+500	$100	$500	$600

Calculating Profit with Positive Odds

To calculate profit for any bet amount with positive odds, use this formula:

Profit = (Stake x Odds) / 100

For example, if you bet 50 dollars at +200:

Profit = (50 x 200) / 100 = 100 dollars

Your total return would be 150 dollars (your 50 dollar stake plus 100 dollars profit).

How to Read Negative American Odds

Negative American odds have a minus sign (-) in front of the number. These odds indicate a favorite or a more likely outcome. The number tells you how much you must bet to win 100 dollars in profit.

The formula: the number shows your required stake to win 100 dollars profit.

For example:

• -110 means you must bet 110 dollars to win 100 dollars profit
• -150 means you must bet 150 dollars to win 100 dollars profit
• -200 means you must bet 200 dollars to win 100 dollars profit

The more negative the number, the bigger the favorite. Odds of -500 indicate a heavy favorite that the sportsbook considers very likely to win, while -105 is close to even money.

Negative Odds	Bet Amount	Profit If You Win	Total Return
-105	$105	$100	$205
-110	$110	$100	$210
-150	$150	$100	$250
-200	$200	$100	$300
-300	$300	$100	$400

Calculating Profit with Negative Odds

To calculate profit for any bet amount with negative odds, use this formula:

Profit = (Stake x 100) / Absolute value of odds

For example, if you bet 50 dollars at -150:

Profit = (50 x 100) / 150 = 33.33 dollars

Your total return would be 83.33 dollars (your 50 dollar stake plus 33.33 dollars profit).

Use Our Odds Converter Calculator

The fastest way to work with American odds is to use a calculator. Our Odds Converter Calculator instantly converts between American, Decimal, and Fractional formats while showing you the implied probability.

Enter any American odds value and see the equivalent in other formats, plus the implied probability percentage. You can also enter a stake amount to see your exact profit and total return.

Converting American Odds to Implied Probability

Every set of odds represents an implied probability, which is the likelihood the sportsbook assigns to that outcome. Converting American odds to implied probability helps you understand what the odds actually mean and can help you identify value bets.

For Positive American Odds

Implied Probability = 100 / (American odds + 100)

Example: What is the implied probability of +200?

Probability = 100 / (200 + 100) = 100 / 300 = 0.333 = 33.3%

This means the sportsbook estimates a roughly 1 in 3 chance of this outcome occurring.

For Negative American Odds

Implied Probability = Absolute value of odds / (Absolute value of odds + 100)

Example: What is the implied probability of -150?

Probability = 150 / (150 + 100) = 150 / 250 = 0.60 = 60%

This means the sportsbook estimates a 60% chance of this outcome occurring.

American Odds	Implied Probability	Interpretation
+500	16.7%	Significant underdog
+200	33.3%	Clear underdog
+100	50%	Even money
-110	52.4%	Slight favorite (standard vig line)
-150	60%	Moderate favorite
-200	66.7%	Strong favorite
-300	75%	Heavy favorite

For a complete guide on odds conversion formulas, including how to convert between all formats, see our complete odds conversion guide.

American Odds vs Decimal and Fractional Odds

American odds are one of three main formats you will encounter in sports betting. Here is how they compare:

American	Decimal	Fractional	Implied Probability
+200	3.00	2/1	33.3%
+150	2.50	3/2	40%
+100	2.00	1/1 (evens)	50%
-110	1.91	10/11	52.4%
-150	1.67	2/3	60%
-200	1.50	1/2	66.7%

Decimal odds show your total return per unit staked (including your stake). They are popular in Europe and Australia. Learn more in our decimal odds guide.

Fractional odds show your profit relative to your stake and are traditional in the UK. A fraction like 3/1 means you win 3 dollars for every 1 dollar staked. Learn more in our fractional odds guide.

Common American Odds You Will See

Certain American odds appear frequently at sportsbooks. Understanding these common values helps you quickly assess betting opportunities.

-110: The Standard Vig Line

Most point spreads and totals (over/unders) are priced at -110 on both sides. This is how sportsbooks build in their profit margin (called the vig or juice). At -110, you must bet 110 dollars to win 100 dollars profit.

The implied probability is 52.4%, which means both sides of a -110/-110 market total 104.8%. That extra 4.8% is the sportsbooks edge.

+100: Even Money

Even money (+100) means you win exactly what you stake. Bet 100 dollars, win 100 dollars profit. This represents a 50% implied probability. In practice, sportsbooks rarely offer true even money because of the vig.

-200 and +200: Common Favorite/Underdog Lines

These are typical odds for moderate favorites and underdogs in moneyline betting. At -200, you risk 200 dollars to win 100 dollars (66.7% implied probability). At +200, you win 200 dollars on a 100 dollar bet (33.3% implied probability).

Reading Moneyline Odds

When betting on game outcomes (moneyline bets), you will see matchups displayed like:

• Kansas City Chiefs -150
• Las Vegas Raiders +130

The Chiefs are the favorite (negative odds), meaning you must bet 150 dollars to win 100 dollars on them. The Raiders are the underdog (positive odds), meaning a 100 dollar bet wins 130 dollars profit.

Tips for Working with American Odds

Start with even money as your reference point. Understanding that +100 equals 50% probability helps you quickly assess other odds. Anything positive is less than 50% likely; anything negative is more than 50% likely.

Use calculators until the math becomes second nature. Our odds converter tool handles all conversions instantly. As you gain experience, you will start to recognize common odds values automatically.

Remember the simple rules. Positive odds tell you profit on 100 dollars. Negative odds tell you the stake needed to win 100 dollars. This distinction is the key to reading American odds correctly.

Compare odds across sportsbooks. A line at -108 on one book versus -112 on another represents real value. Converting to implied probability (51.9% vs 52.8%) shows exactly how much better one price is.

Frequently Asked Questions

What does -110 mean in betting?

Minus 110 is the standard odds for point spreads and totals at most sportsbooks. It means you must bet 110 dollars to win 100 dollars in profit. The implied probability is 52.4%. The extra 2.4% above 50% represents the sportsbooks commission, called the vig or juice.

Why are some odds positive and some negative?

Positive odds indicate an underdog or less likely outcome, showing your profit on a 100 dollar bet. Negative odds indicate a favorite or more likely outcome, showing how much you must bet to win 100 dollars. The cutoff point is even money (+100 or -100), which represents a 50% probability.

How do I calculate my payout with American odds?

For positive odds, multiply your stake by the odds and divide by 100 to get your profit. For negative odds, multiply your stake by 100 and divide by the absolute value of the odds. Add your original stake to the profit to get your total return.

Are American odds the same as moneyline odds?

Yes, American odds and moneyline odds are the same thing. Both terms describe the plus/minus format used by US sportsbooks. The term moneyline can also refer to a specific bet type (betting on which team wins), but the odds format is identical.

What is the difference between +150 and -150?

At +150, a 100 dollar bet wins 150 dollars profit (40% implied probability). At -150, you must bet 150 dollars to win 100 dollars profit (60% implied probability). Despite having the same number, these odds represent opposite situations: +150 is an underdog while -150 is a favorite.

How do I convert American odds to decimal odds?

For positive American odds, divide by 100 and add 1. For negative American odds, divide 100 by the absolute value of the odds and add 1. For example, +200 becomes 3.00 decimal, and -150 becomes 1.67 decimal. Our odds conversion guide covers all formulas in detail.

What does even money mean in American odds?

Even money is expressed as +100 (or sometimes -100) in American odds. It means you win exactly what you bet, a 100 dollar wager returns 100 dollars profit plus your stake. Even money represents a 50% implied probability.

Why do American odds exist instead of using decimals?

American odds developed as the standard format in US sports betting, possibly because the 100 dollar baseline makes quick mental calculations easier for certain bet types. Different regions developed different formats based on local betting traditions. European bettors generally find decimal odds more intuitive, while UK horse racing traditionally uses fractional odds.