How to Read American Odds

If you've ever looked at a sportsbook and seen a number like +150 next to one team and -180 next to the other, you've seen American odds. They look weird, but the format is simple once you know what each piece means.

What American odds mean

American odds are quoted relative to a $100 wager. The sign tells you which direction.

Positive numbers (plus odds)

A line of +150 means: bet $100, win $150 in profit if the bet hits, plus your $100 stake back. Net payout on a successful $100 bet is $250 ($150 profit + $100 returned).

The general rule: profit = (American odds / 100) × stake. So +275 on a $50 bet returns $137.50 in profit, plus your $50 back.

Plus odds are used for underdogs and unlikely outcomes. The bigger the number, the longer the underdog.

Negative numbers (minus odds)

A line of -180 means: you have to risk $180 to win $100 in profit. If the bet hits, you get $280 back ($100 profit + $180 stake returned).

The general rule: stake = (|American odds| / 100) × profit. To win $100 at -120, you risk $120. To win $100 at -110, you risk $110.

Minus odds are used for favorites. The closer to zero (e.g., -105) the closer to a coin flip. The further from zero (e.g., -400) the heavier the favorite.

Implied probability formula

American odds also imply a probability that the outcome will hit. This is what the sportsbook is "pricing in," before its margin.

For positive odds:

implied % = 100 / (odds + 100)

For negative odds:

implied % = -odds / (-odds + 100)

Examples:

• +200 implies 33.3% (100 / 300)
• +150 implies 40.0% (100 / 250)
• +100 implies 50.0% (a coin flip)
• -110 implies 52.4% (110 / 210)
• -200 implies 66.7% (200 / 300)
• -400 implies 80.0% (400 / 500)

How to convert to decimal odds

Decimal odds (used in Europe and Australia) tell you the total payout per dollar wagered, including your stake. Conversion is straightforward:

• Positive American: decimal = (American / 100) + 1. So +150 = 2.50.
• Negative American: decimal = (100 / |American|) + 1. So -180 = 1.555.

If a book is showing decimal and you want American: subtract 1 from decimal, then multiply by 100. If the result is at least 100, that's positive American. If the result is less than 100, take the negative reciprocal.

Common mistakes

• Confusing -110 and +110. They look similar but pay very differently. Always check the sign.
• Assuming a -110 bet is "safer." The sign tells you the implied probability, not the true probability. -110 only means the book thinks the outcome happens 52.4% of the time.
• Ignoring the vig. Two -110 sides of the same bet add up to 104.8% implied probability. The 4.8% over 100% is the book's margin. You pay it on every bet placed at standard juice.
• Not comparing prices. The same wager at -105 instead of -115 saves you about $9.50 on a $100 bet, recurring across the season. More on line shopping →

Quick reference

• Plus odds: how much you win on a $100 bet.
• Minus odds: how much you must risk to win $100.
• +100 = coin flip = 2.0 decimal = 50% implied.
• -110 = standard juice on a coin flip = 52.4% implied (4.8% vig).
• +150 = 40% implied = 2.50 decimal.
• -200 = 66.7% implied = 1.50 decimal.

Once American odds click, the rest follows quickly: spreads (point margins), totals (over/under combined score), and props (player or team-specific outcomes) all use the same +/- pricing system. The same line shopping logic applies to every market, on every game.

Ready to put it to use? Compare today's lines.