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How betting odds work: reading American and decimal odds
Drag the scale to see one price as American odds, decimal odds and implied chance, with the payout on $10.00. Then use the blocks below to read any line.
Underdog
- +150: a $100 bet wins $150.00 profit.
- 2.50: every $1 comes back as $2.50 if it wins – stake included.
- 40.0%: the price says it wins about 40 in 100 times.
The chance by price includes the bookmaker’s margin, so it runs a little high.
Plus odds vs minus odds
Plus (+): the underdog
- The number is the profit on $100 staked.
- A $10.00 bet at +150 returns $25.00.
- That is $15.00 profit plus your stake back.
- Implied chance: 40.0%.
Minus (−): the favourite
- The number is what you risk to win $100.
- At −200, risk $200.00 to win $100.
- A $10.00 bet returns $15.00, profit $5.00.
- Implied chance: 66.7%.
Same price in every format
| Format | Underdog | Even | Favourite | What it shows |
|---|---|---|---|---|
| American | +150 | +100 | −200 | Profit on 100, or risk to win 100 |
| Decimal | 2.50 | 2.00 | 1.50 | Total return per unit, stake included |
| Fractional | 3/2 | evens | 1/2 | Profit per unit staked |
| Implied chance | 40.0% | 50.0% | 66.7% | Win rate needed to break even |
Switch between formats with the odds converter.
How to read betting odds
- Check the signPlus usually means underdog, minus means favourite; +100 is even money. Decimal odds have no sign.
- Turn it into decimalPlus: divide by 100, add 1. Minus: divide 100 by the number without the minus sign, then add 1. Example: 1 + 100 ÷ 200 = 1.50.
- Multiply by your stakeStake × decimal = total return. $10.00 × 2.50 = $25.00. Or use the bet payout calculator.
- Find the implied chanceDivide 1 by the decimal odds: 1 ÷ 2.50 = 40.0%.
Why both sides add up to more
Implied chance A + implied chance B = book total; the part above one hundred percent is margin
Example: −110 on both sides: 52.4% + 52.4% = 104.8%. A fair price for each side would be +100.
Odds terms
- Moneyline
- A bet on who wins the game, often shown in American odds. See moneyline explained.
- Favourite
- The side the price says is more likely to win. Shown with a minus sign.
- Underdog
- The side the price says is less likely to win. Shown with a plus sign.
- Even money
- Profit equals stake: +100, 2.00 or evens.
- Implied probability
- The chance a price suggests: 1 ÷ decimal odds. It includes margin, so it is not a forecast.
- Payout
- Total return on a winning bet: stake plus profit.
- Margin (vig, juice)
- The bookmaker's built-in cost: the amount by which both sides' implied chances add up to more than a full hundred percent.
Questions
What does −110 mean in betting?
You risk $110.00 to win $100. A $10.00 bet returns $19.09, stake included. It is often seen on both sides of an even matchup.
What does +150 mean in betting?
It is an underdog price. A $10.00 bet returns $25.00: $15.00 profit plus your stake. Implied chance is 40.0%.
Do decimal odds include my stake?
Yes. Decimal odds show the total return per unit staked, stake included. American and fractional odds show profit only. 2.50 and 3/2 are the same price.
Why do odds on both sides add up to over a hundred percent?
The extra is the margin, the bookmaker's built-in cost. At −110 on both sides the total is 104.8%. Without margin, each side would be +100.
What do betting odds tell you?
How much a bet pays and the implied chance the price suggests. Implied chance is not a forecast. New to betting lines? Start with sports betting basics.