What betting odds mean

Odds tell you two things: how much a bet pays and how likely the sportsbook thinks the outcome is.

American odds

A minus number such as -150 is the amount you must bet to win $100. A plus number such as +150 is the amount you win on a $100 bet.

Decimal odds

Common outside the US. Decimal odds of 2.50 return $2.50 for every $1 staked, including your stake, so the profit is $1.50.

Fractional odds

Used in the UK. 3/2 means you win $3 for every $2 you bet.

Implied probability

Divide 1 by the decimal odds. Odds of 2.00 imply 50%. If your own estimate of the chance is higher than the implied probability, the bet may have value.