Betting Odds Plus Minus

These odds are based on winning $100 for a given bet. Betting a Favorite: The odds for favorites will have a minus (-) sign, and represent the money you need to risk to win $100. So if you're betting on the Packers at -140 against the Vikings, that means Green Bay is a slight favorite. You need to risk $140 to win $100 on the Packers. How to Read Betting Odds. There are three different ways in which sports betting odds can be displayed. Despite all being presented differently, the above examples all translate to the same chance of winning (33.33%) – all will yield $2 of.

The big board at any Vegas sports book is a sight to behold. A slick cross between the New York Stock Exchange and a McDonald’s walk-up menu, the boards are updated moment to moment and bet to bet, giving a sports gambler all the data he needs to make a smart bet.

These boards are copied and pasted into the newspapers or shrunk to fit computer screens and smartphone apps but nothing measures up to the real thing. Hundreds of games, thousands of bets. All listed above you.

The big boards in Vegas tell us many things. The favorites. The underdogs. The payout. Where the money is. Knowing how to read Vegas Odds is important to every gambler not just to place a bet, obviously, but to place a smart bet. And that’s all good gamblers want to do. They want to make smart bets, win 60-70 percent of the time, and move on to the next bet.

But how do the big boards in Vegas work? What are they telling us? And what can we derive from them? It is just as important to know the odds you’re gambling with as it is to know the sport you’re gambling on. Making a smart bet is the goal. And smart gamblers use all the information available in order to do so.

For a brilliant summary for reading Vegas Odds 101, listen to our Sports and Vegas Odds Podcast episode where Ryan breaks it all down for you:

American Odds

Vegas odds are often referred to as “American Odds” because Americans always have to be different. We ignore the metric system. We call football, soccer. We drive on the wrong side of the road. Why would sports gambling be any different?

American odds are presented in the form of a $100 bet. They’ll indicate the amount you need to wager to win $100 or the amount you’ll win if you bet $100. So, for a favorite, the odds will begin with a minus (-) sign. This is the amount you need to bet in order to win $100.

On the other hand, the underdog’s odds will begin with a plus (+) sign. This is the amount you will receive if you were to bet $100. This does not mean you have to bet $100. Or mean that you can only bet as much as $100. See, Americans have to be different. Hang in there because we have some examples forthcoming.

These odds will come into play a few ways depending on the type of bet you place. The moneyline, the point spread, and the totals (over/under) are all bets available on the board. Let’s look at how to read them in Vegas with the odds.

The Moneyline

Simply put, a bet on the moneyline is an odds bet. It’s where “American odds” can easily be seen. With a moneyline bet you’re simply picking the winner and the payout is determined by the odds.

Obviously, a bet on the favorite is going to pay out less than a bet on the underdog. Let’s look at an example of a moneyline bet with an NBA game and how it would appear in Vegas. The Pacers/Cavs line.

• Indiana Pacers +350
• Cleveland Cavaliers -440

The Pacers are the underdog on the moneyline at +350. The Cavs are the favorites on the moneyline with -440. This means a $100 bet on the Pacers to win pays $350. And that you would have to wager $440 on the Cavs to win $100. This ratio holds true for a wager of any amount. A $10 bet on the Pacers pays $35 while a $10 bet on the Cavs pays $2.27. So on and so forth.

The Point Spread

The most common and popular of sports bets is the point spread. As simply as we can put it, the point spread is the number the oddsmakers use to handicap the favorites to even-up the final score of the game. This in turn sparks more interest, which leads to more bets, which brings in more money. Again, the Pacers/Cavs line.

• Indiana Pacers +8 -110
• Cleveland Cavaliers -8 -110

First the -8. As noted, the Cavs are the favorites so they are giving points (8) to even up the final score. In order for the Cavs to win the bet and cover the point spread, they’d have to win by nine or more. If the Pacers stay within seven points, the Cavs fail to cover the eight points and lose the bet. If the Cavs win by eight points, it’s a “push” or a tie and all bets are returned.

Now the (-110). This number is the odds a bet on the point spread will pay out. Just like on the moneyline, since the Cavs are the favorites, you’ll have to bet $110 to win $100. You’ll notice a favorite covering the spread pays out much better than a favorite on the moneyline. You’ll also notice the favorite and the underdog have the same payouts with the point spread. This is what makes playing the point spread so popular.

Some teams are evenly matched and there isn’t a point spread at all. This would be a “pick’em” or “pk” on the big board. And the odds on the moneyline would match as well. These are “EVEN” odds. When playing the point spread the payout number will vary. -110 is about industry standard but you’ll notice -105’s, -115’s, and even as high as -125’s on point spread bets at times. More on this later but it is important to note these variations.

Totals

The totals is a bet on the total number of points (or runs or goals) scored in the game. The oddsmakers will set the number and bets are placed on whether or not the total score is OVER or UNDER that number. The number appears on the big board next to the underdog like so:

• Indiana Pacers vs. Cleveland Cavaliers 212.5 -110

The number set for this game is 212.5. Since the .5 has eliminated the chance of a push, an OVER bet will win if the total score is 213 or higher. An UNDER bet pays if the total score is 212 or lower. And, again, the payout for a win is -110.

Totals bets are seen as something of a sucker’s bet. Despite your opinion on the matter, we have to admit they are a little strange. You are wagering on what the total score will be. Not picking a winner. Picking a score.

Betting Odds Explained Plus Minus

So, it’s different than a normal who’s-going-to-win-the-game-and-by
-how-much kind of bet. However, this number is providing the gambler more information about how the oddsmakers feel about the game and that is important when making a smart bet.

Placing a Wager

The other set of numbers you will see on the big board are the rotation numbers. These are numbers assigned to teams so the sports book can easily distinguish one for the other. They appear to the left of the teams in a game on the big board as such:

• 101 Indiana Pacers +350 212.5
• 102 Cleveland Cavaliers -440 -8(-110)

These numbers simply help the sports book as well as the gambler keep track of the bet. Listed on the big board are dozens of sports, hundreds of teams and thousands of bets that can be played. It’s a good idea to keep them as organized as possible. There are at least six professional teams in New York by itself after all. Like the horses’ numbers at the track, rotation numbers just cut down on the confusion when placing a bet.

“Give me New York -220 on the moneyline for $50.”
“Which New York, dumb-dumb…”
“Sorry, 303. I’m an idiot”
“Yes, you are.”

Betting Odds Explained

Don’t be that guy. This is the proper way to lay a bet in Vegas. Rotation Number, Type of Bet, Amount of Wager. Everyone appreciates a well placed bet and no one likes that guy…

Reading the Big Board

Now that we know how to read Vegas Odds, we need to learn what the Vegas odds mean… That is, what are these numbers telling us in the context of the game we want to wager on. We have studied the teams, we know the rosters. What can the lines tell us to make our bet a smart bet?

Once a game is scheduled and it’s odds are posted, the bets are going to start coming in. Now, it’s in the sports book’s best interest to keep the bets as even as possible. This is why oddsmakers give you a pay out at -110.

Understanding the Vig or Juice

That’s a $110 dollar bet to win $100. Take the favorite and give the points. You’re paid out at -110. Take the underdog and get the points. You’re paid out at -110. OVER or UNDER the same. -110. This is the industry standard and goes back to the mob-only days of oddsmaking.

Where does that $10 bucks go you ask? Well, that $10 bucks on a $100 bet is the “vig” or “juice.” It’s the price for laying a bet. A little bit extra the oddsmaker gets to keep for fronting the wager.

Keeping the bets as even as they can on either side insures their money. Collect from the losers and short change the winners. It’s a brilliant business model only the mob could come up with and only Vegas would still employ.

Now, most betting lines will just give it to you straight. The favorite pays this much, you get this many points, the total is this. What we are looking for are the variations. We can ascertain plenty of valuable intel from these variations.

Why is the payout on this game -115? And why is the payout on this game EVEN? Why is the moneyline different from yesterday? And why is the point spread moving up? The devil is in the details.

Watch As The Point Spreads Move

The most obvious variation is the movement of the point spread. As the bets start coming in, the oddsmakers track which team is receiving most of the betting action. The point spread will move because the oddsmakers will change the line to try to even up the sides. Remember, they want just as many people on one side of a bet as on the other.

More people are taking the Cavs giving the eight points? Raise the point spread to nine. All of a sudden, more bets will come in for the Pacers getting the nine points. Oddsmakers can do the same with the moneyline as well as the total line. And for the same reasons.

But what does this information tell us? The line has moved up even more and now the Cavs are -10 point favorites. This means, despite the oddsmakers best efforts, more wagers have been placed on the Cavs than on the Pacers.

Smart Bettors Know Where The Action Is

Knowing where the money is can help you make a smart bet. One theory is the The-House-Always-Wins-Rule. Basically, this theory suggests you bet against everyone else and with the house because the house always wins. If more people take the favorite, the points they are giving went up and you should take the underdog.

If more people are picking the underdog, the points they are receiving have gone down and you take the favorite. It makes sense in theory but maybe not in practice. Remember, the oddsmakers want the sides to be even.

They aren’t in the business of placing their own opposing bets. What is important is knowing how everyone else is betting and the knowledge that a large segment of the gambling population shares your opinion.

Or if you think the gambling population is foolish, well, you know what to do. However you feel, keep an eye on how the line moves. It may help you make a bet you wouldn’t have or avoid a bet you were going to make.

A Close Look at the Payouts

The payouts on the point spread can vary as well. That standard -110 will turn into -105’s or EVEN’s. Or go the other way to -115’s, -120’s, or -125’s. What is the reason for these variations? It’s a lot like moving the point spread.

The oddsmakers want to even up the bet. There’s only so many points a bookie is going to give. Offering a little more here or a little less there on the payout may be enough to influence the betting action. However, you can tell where the oddsmakers are hedging with these numbers.

If the payout gets better than -110, the oddsmakers have the sides even up, love the point spread and want you to bet it and lose. If the payout gets worse than -110, the oddsmakers know they have a bad number and want to cut their losses.

Vegas Wants You To Gamble – Be Smart

Making smart bets is the name of the game. The only way to make smart bets is to gather as much information as possible and master how to read Vegas Odds. Get to know every bet as well as you know every team. Get to know all the odds as well as you know every player.

Otherwise, you’re just playing the lotto. Remember, Vegas wants you to gamble. It’s going to give you all the information it can in order to gamble. It’s up to you to use it.

Test your knowledge on some small starter bets. We’d recommend any of the following for players outside Las Vegas but there are plenty of good options for US players (just make sure it’s not illegal in your state):

Reading sports betting odds requires understanding the peculiar language used by the house in different areas. The visual difference in American, decimal (European), and fractional odds (British) make it seem as if the odds are different in each area. In reality, they represent different ways of expressing the amount of potential profit gained from money wagered. This article will explain how to read odds in each system to allow you the best chance of profiting from your bet.

The sports betting odds express how much money you can win for each dollar gambled. Odds typically track the likelihood of an event happening, although they also reflect the possibility of the house receiving a large amount of money on a bet. When an event is more likely to happen --- Tiger Woods winning the Masters or Alabama winning a football national championship --- the odds are lower, reducing the payout, and managing the risk to the house. When an event is less likely to happen, such as a small college winning the national championship or a marginal pro winning one of golf's major championships, the odds increase, allowing for a higher payout. However, the small chance of the event occurring reduces the risk to the house that would flow from higher payouts.

Understanding betting odds could keep you from losing money within your bets, so keep in mind the variances at play, and try to protect your money at all times.

American odds are written as and are called money-line bets or “moneyline” odds. Your profit potential in American odds is written as a total sum that you win or the amount you need to bet based on a common-$100 range. The profits that you win from American odds are given to you alongside your initial principal.

Example: Bookies express odds with a plus or minus, with the '-' indicating the favorite, while the '+' represents the underdog. For example, to win $100 on -150 odds you must wager $150. Odds of +180 mean that you win $180 with a successful $100 bet. Note that the sum of the odds does not have to equal zero. The favorite could be -120, while the underdog is +210. Larger numbers represent a stronger favorite/underdog. A participant with -500 sports betting odds rates as a much larger favorite than one with -120 odds.

Decimal odds are also called European odds.This type of sports betting odds is typically associated with players in Canada and Europe. The numerals in decimal odds identify how much you gain for every dollar or euro you spend. However, the higher that the number is, which is specifically for numerals “.10” and above, the less likely the outcome is though a higher payout is listed.

Plus Minus Hackerrank Solution

Example:Houses place a number, such a 3.0 or 2.5, to express decimal odds. A professional soccer team may receive odds of 3.0 to win its next match. The 3.0 odds means that a winning bet of $1 pays $3. To determine your payout, multiply the amount of your wager by the odds. Winning a $10 bet on 50.0 odds results in a payout of $500. The larger the number, the less likely the event will occur. Odds of 2.0 have far higher chances of occurring than odds of 100.0.

A simple slash (/) is used in fractional odds, and these are pronounced as “a 20-to-1 chance” or “20/1.” The first digit in fractional odds tells you what the profit amount is while the second digit tells you how much you must wager in order to gain the listed-profit mark.

Example:These are the odds you see in sports pundits predictions for events (although not the exact odds as those given by the house). Houses set the odds using fractions, such as 20/1 or 1/5. The number on the left indicates how much you win if you bet the number on the right. In our examples, a bet of $1.00 wins $20.00 for the 20/1 odds, while a wager of $5.00 wins $1.00 in the 1/5 odds. The smaller the discrepancy in the numbers, the more likely an event will occur. If the number on the right is smaller than the number on the left the chances of the event occurring rise. A team with 1/5 odds possesses a much higher chance of prevailing than a team with 20/1 odds. Make sure you focus on the discrepancy and not the numbers themselves. A golfer with odds of 6/4 is favored to win over a golfer with odds of 5/2.

The various ways of displaying odds help punters to obtain different perspectives on probability, profit, cost and risk. The variance in how you can write odds helps you to strategically gather data. For example, American odds tell you about the amount you need to spend, fractional odds can determine how much you win per-amount wagered and decimal odds track what your overall risks are per-dollar spent.

Modern bookies give you the option of changing sports betting odds to the formats you prefer.

Plus And Minus In Betting

American Odds Example

Decimal Odds Example

Fractional Odds Example

Frequently Asked Questions for Sports Betting Odds

Who Sets Your Sports Betting Odds?

Betting exchanges and bookmakers employ professional compilers to calculate the odds that bets are displayed as. A bookie’s own financing, ingenuity and statistical data are factors behind the specific odds shown on their exchange. The global activity in sports gambling also plays a role in which odds a bookie offers.

What Does Plus & Minus mean in betting?

A plus designation indicates an underdog. A minus designation identifies the favorite. The plus indicates the potential payoff of a $100 bet while the minus shows the amount needed to realize a $100 payoff. -350 odds means that a winning $350 bet results in a $100 profit (plus the return of the $350 stake).

Are lower odds better?

Low odds generally indicate the potential for something. The higher odds mean that something is unlikely. A lot of people get the two confused. They assume it should be the other way around. However, in the sports betting world, you want something to have a low betting odd. That means there is more potential for the player.

Why would you bet on negative odds?

Gamblers like “low odds” because these odds are in their favor. There are no guarantees, but you can lower your risk via high-probability bets that have lower profits, being called low-odds bets.

What Does +100 mean in betting?

Odds of +100 represent an even money bet. A winning +100 wager pays $100. A +100 line will occur when the odds of winning or losing are relatively evenly balanced. It also represents a much riskier bet than a -200 and a less profitable wager than a +200.

What Does -100 Mean In Betting?

Sports betting odds of -100 represent an even money bet. Houses may issue even money odds as -100 or +100, depending on their preference.

Knowing how to read odds allows you to understand how much you might profit from your wager. The type of sports betting odds provided by the house reflects not different odds of success for the same event but historical preferences for each system. Now that you know how to calculate your potential payout, you will know whether the proposed wager makes sense.