The world of sports betting can seem daunting, especially for newcomers. One common element that often causes confusion is the presence of plus (+) and minus (-) signs associated with odds. This article breaks down what these symbols mean and how they impact your potential winnings.
Table of contents
The Core Concept
In essence, the plus and minus signs relate to the odds offered on a particular outcome. They indicate either the amount you need to wager to win a specific profit (minus) or the profit you stand to gain from a specific wager (plus).
Minus Sign (-)
A minus sign indicates the favorite in the matchup. The number following the minus represents the amount you would need to bet to win $100 (or the equivalent in your currency). For example, if the odds are -150, you would need to bet $150 to win $100 in profit, plus your original stake back.
Plus Sign (+)
A plus sign indicates the underdog. The number following the plus represents the amount you would win on a $100 bet (or the equivalent in your currency). For example, if the odds are +200, a $100 bet would win you $200 in profit, plus your initial $100 stake.
Beyond Moneyline Bets
The plus and minus signs also appear in spread betting (also known as handicap betting). Here, they represent a point advantage or disadvantage given to a team. For example, Team A -3.5 means that Team A needs to win by more than 3.5 points for your bet to win. Team B +3.5 means that Team B can lose by up to 3.5 points (or win outright) for your bet to win.
Examples in Different Sports
Let’s look at some examples across different sports:
- Football (Soccer): If Team A is -120 to win, you’d bet $120 to win $100. If Team B is +150, a $100 bet wins $150. In a handicap bet, Team A -1.5 means they need to win by 2 or more goals for you to win. Team B +1.5 means they can lose by 1 goal or win outright for you to win.
- Basketball: Similar to football, the +/- indicates the favorite/underdog and the points they need to cover (in spread betting) or the amount to wager/win (in moneyline).
- Baseball: Often uses the “run line,” which is a spread, and the moneyline. The +/- rules apply as above.
- Hockey: Uses the “puck line” (a spread) and the moneyline. Again, the +/- signs function identically.
Implied Probability
The odds, denoted by the plus and minus signs, can be converted into an implied probability. This represents the bookmaker’s assessment of the likelihood of a particular outcome. You can calculate implied probability using the following formulas:
- For negative odds (-X): Implied Probability = X / (X + 100) * 100
- For positive odds (+X): Implied Probability = 100 / (X + 100) * 100
For example, odds of -200 imply a probability of 66.67% (200 / (200 + 100) * 100). Odds of +150 imply a probability of 40% (100 / (150 + 100) * 100).
Why is Understanding +/- Important?
Understanding the plus and minus signs is crucial for several reasons:
- Calculating Potential Payouts: It allows you to quickly determine how much you stand to win based on your stake.
- Comparing Odds: Different sportsbooks may offer slightly different odds. Knowing how to interpret the plus and minus signs allows you to shop around for the best value.
- Assessing Risk and Reward: Understanding the implied probability helps you evaluate whether a bet offers a good risk/reward ratio.
- Informed Decision-Making: A clear understanding of the odds allows for more informed and strategic betting decisions.
The plus and minus signs are fundamental to understanding sports betting odds. By grasping their meaning, you can make more informed decisions, manage your risk effectively, and ultimately improve your chances of success in the world of sports wagering. Remember to always gamble responsibly and within your means.
