Sports betting odds are pretty straightforward: the less likely the result, the bigger the win potential. The more likely the result, the smaller the win potential. For example, a win on the underdog pays better than a win on the favorite. But when you get to a social sportsbook, you’ll see that the odds are presented in a way that makes them a bit confusing at first. Here’s a breakdown of the different odds and how they work.
American Odds
American odds are a way of showing how much money you could win (positive odds) or need to bet (negative odds):
- Positive odds (e.g., +200): This shows how much profit you’d make on a $100 bet. For example, +200 means you’d win $200 if you bet $100, plus your original $100 back for a total of a $300 payout.
- Negative odds (e.g., -150): This shows how much you’d need to bet to win $100. For example, -150 means you’d need to bet $150 to win $100, plus get your $150 back for a total payout of $250.
However, these odds apply to any size bet. In short:
- A plus (+) means underdog (higher payout).
- A minus (-) means favorite (lower payout).
Calculating Positive Odds
The easiest way to figure how much you’ll win with positive odds is to move the decimal point over two spaces and multiply that number by your bet. For example, for +250 odds, imagine it’s displayed as +250.00. Move the decimal point over two spaces to make the number 2.50, and multiply that by your bet. If your bet is $100, you’d win $250.
When you win a sports bet, you also receive your wager back. So a $250 win on a $100 bet would pay out a total of $350.
Here are some more examples:
- $10 bet on +2500 odds = $10 x 25.00 = $250 ($260 total payout)
- $5 bet on +550 odds = $5 x 5.50 = $27.50 ($30 total payout)
- $1,000 bet on +100 odds = $1,000 x 1.00 = $1,000 ($2,000 total payout)
Calculating Negative Odds
Calculating negative odds is a bit more complicated and often requires pulling out a calculator. Here’s the formula:
- (Bet Amount/Odds) x 100 = Win
Not that the odds are not negative odds in the calculation. For example, -110 becomes 110.
So, if you were to bet $100 on -150 odds, the formula would be ($100/150) x 100 = $66.67. You would also receive your wager back, making the total payout $166.67.
Here are some more examples:
- $10 bet on -2500 odds = ($10/2500) x 100 = $0.04 ($10.04 total payout)
- $5 bet on -110 odds = ($5/110) x 100 = $4.55 ($9.55 total payout)
- $1,000 bet on -500 odds = ($1,000/500) x 100 = $200 ($1,200 total payout)
Fractional Odds
Fractional odds are a way of expressing the potential profit you can make from a bet relative to your stake. They’re written as fractions like 5/1, 10/3, or 1/2.
Here’s the simple breakdown:
- The numerator (top number) is how much you can win if you bet the amount of the denominator (bottom number).
- For example, 5/1 means for every $1 you bet, you could win $5 in profit if you win the bet.
Here are some more examples:
- 5/1 odds: For every $1 you bet, you could win $5.
- If you bet $10, you’d win $50 in profit, plus your $10 back, for a total of $60.
- 1/2 odds: For every $2 you bet, you could win $1.
- If you bet $10, you’d win $5 in profit, plus your $10 back, for a total of $15.
Just like with American odds, the calculation is for the win, not the total payout. If you win a sports bet, you get your wager back on top of your winnings. So a $15 win on a $10 bet would have a total payout of $25.
Decimal Odds
Decimal odds are another way of expressing betting odds, and they show the total amount you will receive for every $1 wagered, including your stake.
The formula is as follows:
- Wager x Decimal odds = Total Payout
The decimal number represents the total return per $1 bet, including your original wager. For example, if the odds are 3.00, this means for every $1 you bet, you’ll get back $3 in total (your $1 bet plus $2 profit).
Here are some more examples:
- Odds of 3.00: For every $1 you bet, you’ll receive $3 in total (your $1 stake plus $2 profit).
- So, if you bet $10, your total payout will be $30 (which is $10 x 3.00).
- Odds of 1.50: For every $1 you bet, you’ll receive $1.50 (your $1 stake plus $0.50 profit).
- So, if you bet $10, your total payout will be $15 (which is $10 x 1.50).
Decimal odds will always be greater than 1 because you always get your wager back on a sports bet. And, unlike American odds or fractional odds, the total payout is built into the calculation, so you don’t have to add your wager after the fact. This makes decimal odds the easiest to calculate.
Comparison of Different Odds
Here are the different odds—American, fractional, and decimal—and their equivalents:
Fractional Odds | Decimal Odds | Moneyline Odds |
1/1 | 2 | +100 |
5/4 | 2.25 | +125 |
2/1 | 3 | +200 |
5/2 | 3.5 | +250 |
1/2 | 1.5 | -200 |
1/3 | 1.33 | -300 |
1/5 | 1.2 | -500 |
1/10 | 1.1 | -1000 |
Key Points:
- Fractional Odds show how much profit you’ll make on a bet relative to your stake.
- Decimal Odds show the total payout (stake + profit) for each $1 bet.
- Moneyline Odds show how much profit you can make on a bet relative to $100 bet (for negative odds) or how much you need to bet to win $100 (for positive odds).
This table should give you a good overview of the different odds formats and how they correspond to each other.
Sportsbooks Calculate Odds for You
Rather than calculate the odds yourself, you can simply click the bet you want to place at the sportsbook and enter a number. Without placing the bet, you can see the payout/win potential. If you don’t want to place the bet, simply clear the bet slip and move on. It’s that easy to see what you could win, no calculator required.
In fact, you can even do this without any funds in your account. This will let you know if it’s even worth making a deposit and placing the bet, saving you even more time.
For more information, read our “How to Bet” guide.
Final Thoughts on Sportsbook Odds
Sportsbook odds become second nature once you’re an experienced bettor. It doesn’t take long either. Whether you utilize the sportsbook itself as the calculator or calculate the odds yourself, the numbers start to just look like “worth it” or “not worth it” as you navigate the app.
Odds can also vary drastically by sportsbook. That’s why sharp bettors join multiple sportsbooks to compare the odds and find the best value before placing their bets.