What Are American Odds?

American odds are the standard way sportsbooks in the United States display betting lines. You will see them everywhere, from DraftKings and FanDuel to BetMGM and Caesars. They are sometimes called moneyline odds because they were originally used to display moneyline bets, though today they apply to spreads, totals, props, and futures as well.

The format is simple on the surface: every line is expressed as a number with either a plus sign (+) or a minus sign (-) in front of it. That single symbol tells you whether you are looking at a favorite or an underdog, and the number tells you exactly how much money is at stake. Once you understand those two pieces, you can read any betting line in the country.

If you have ever visited a sports betting site based outside the US, you may have seen decimal odds (like 2.50) or fractional odds (like 3/2). Decimal odds show your total return per dollar wagered, including your stake. Fractional odds, common in the UK, show profit relative to stake as a fraction. American odds serve the same purpose but in a format built around the $100 benchmark, which feels natural for US bettors who think in round dollar amounts.

Every licensed sportsbook operating legally in the United States displays American odds as the default format. Whether you are betting on the NFL, NBA, MLB, NHL, college football, or a UFC main event, the lines will follow the same plus-and-minus system. Learning it once means you can read every line on every site without thinking twice.

How to Read the Plus and Minus Signs

Every American odds line comes down to one question: which sign is attached to the number? The plus sign and the minus sign do completely different jobs, and mixing them up is the most common mistake new bettors make. Let’s break each one down using a real NFL example.

Say you open your sportsbook app and see this moneyline for a Sunday afternoon game:

Those two numbers tell you everything you need to know about this matchup before a single coin is flipped.

Understanding Minus Odds (The Favorite)

The minus sign means you are looking at the favorite, the team the sportsbook expects to win. The number after the minus sign tells you how much you need to bet in order to win $100 in profit. With the Chiefs listed at -160, you need to wager $160 to win $100. Your total return on a winning bet would be $260: the $100 profit plus your original $160 stake back.

The bigger the minus number, the stronger the favorite. A team at -300 is a much heavier favorite than a team at -130. Heavy favorites are more likely to win, but they pay out less because the sportsbook builds that likelihood into the price. You are risking more to win less.

Think of it this way: -160 is telling you the market believes Kansas City is more likely to win than not, and the price reflects that confidence.

Understanding Plus Odds (The Underdog)

The plus sign means you are looking at the underdog, the team expected to lose. The number after the plus sign tells you how much profit you would win on a $100 bet. With the Raiders at +140, a $100 bet returns $140 in profit. Your total payout on a winner would be $240: the $140 profit plus your $100 stake.

The bigger the plus number, the bigger the underdog. A team at +350 is a much longer shot than a team at +110. Underdogs pay out more precisely because they are less likely to win. That extra payout is your compensation for taking on more risk.

How to Calculate Your Payout from American Odds

Reading a line is step one. Knowing exactly what you will get paid if you win is step two. The math is straightforward once you see the formulas, and after a few practice runs you will be calculating payouts in your head before a line even loads.

1. 01

   Calculating Profit on Plus Odds

   Use this formula: (Odds divided by 100) multiplied by your stake equals your profit. For example, a $50 bet at +140 looks like this: (140 divided by 100) equals 1.4, then 1.4 multiplied by $50 equals $70 profit. Add your $50 stake back and your total return is $120.

2. 02

   Calculating Profit on Minus Odds

   Use this formula: (100 divided by the absolute value of the odds) multiplied by your stake equals your profit. For a $100 bet at -160: (100 divided by 160) equals 0.625, then 0.625 multiplied by $100 equals $62.50 profit. Add your $100 stake back and your total return is $162.50.

3. 03

   Always Add Your Stake Back

   The formulas above calculate profit only. Your original stake is always returned on top of that amount when you win. If you bet $20 at +200 and win, you earn $40 in profit plus your $20 stake for a total payout of $60.

Let’s run through a few more concrete examples so the math sinks in.

A $50 bet at +140: (140/100) x $50 = $70 profit. Total return: $120.
A $100 bet at -160: (100/160) x $100 = $62.50 profit. Total return: $162.50.
A $20 bet at +300: (300/100) x $20 = $60 profit. Total return: $80.

Here is a quick payout reference table for the most common odds values you will encounter at any US sportsbook:

American Odds and Implied Probability

Every set of odds has a win probability baked into it. That number is called the implied probability, and it tells you what percentage of the time the sportsbook’s line suggests each team will win. Understanding implied probability is what separates bettors who just pick teams from bettors who think in terms of value.

The conversion formulas work like this. For negative odds, divide the absolute value of the odds by the sum of the absolute value of the odds plus 100, then multiply by 100. For positive odds, divide 100 by the sum of the odds plus 100, then multiply by 100.

Going back to our Chiefs/Raiders example: Chiefs at -160 converts to (160 / (160 + 100)) x 100 = 61.5% implied probability. Raiders at +140 converts to (100 / (140 + 100)) x 100 = 41.7% implied probability. Notice something: 61.5% plus 41.7% equals 103.2%, not 100%. That extra 3.2% is the vig, also called juice, which is the sportsbook’s built-in margin.

The vig is how sportsbooks make money regardless of who wins. They set lines so that both sides of a bet pay slightly less than true probability would justify. This is why shopping for the best number matters. If you can find -150 at one book instead of -160 at another, your implied breakeven win rate drops, meaning you need to win less often to be profitable long-term.

You do not have to do this math by hand every time. The sports betting odds calculator tools at BettingOffice convert any American odds line to implied probability instantly, which saves time and eliminates arithmetic errors when you are moving fast on a game day.

American Odds in Action: Real Betting Examples

Reading theory is one thing. Seeing it applied to real lines across different bet types is what makes it click. Here are three examples that tie together everything covered so far.

Example 1: NFL Moneyline, Chiefs -160. You want to bet the Chiefs to win outright. You place $100 on Kansas City at -160. Using the minus odds formula: (100/160) x $100 = $62.50 profit. If the Chiefs win by any score, your total return is $162.50. The implied probability on this line is 61.5%, meaning the market gives the Chiefs roughly a 3-in-5 chance of winning.

Example 2: NBA Point Spread, Lakers -4.5 at -110. A point spread bet means you are not just picking a winner. You are wagering that the Lakers win by more than 4.5 points. The -110 is standard spread juice (explained more in the mistakes section below). A $110 bet at -110 returns $100 profit, for a total of $210. The implied probability on -110 is 52.4%, which means you need to win more than 52.4% of your spread bets just to break even against the juice.

Example 3: NFL Total, Over 41.5 at -115. You think both the Steelers and Ravens offenses will combine for more than 41.5 points. At -115, a $115 bet wins $100 in profit. Total return: $215. The implied probability is 53.5%. Notice the line is slightly more expensive than a standard -110 total. That means the market is applying a bit more juice to the over, often a signal that public money has pushed the price up on that side.

How to Tell if Odds Offer Good Value

Value in sports betting means one specific thing: you believe the true probability of an outcome is higher than what the odds imply. If the Raiders are listed at +140 (41.7% implied probability) but your research suggests they actually have a 50% chance of winning, the line is offering you value. You are getting paid for risk the market is underpricing.

Here is a concrete example. A team is listed at +200 in a game. That implies a 33.3% win probability. If you genuinely believe that team wins 40% of the time in this situation based on matchup, injuries, and recent performance, then +200 is a value bet. Over a large sample of similar bets, the extra edge compounds into real profit.

One of the fastest ways to find value is line shopping, which means checking the same game at multiple sportsbooks before placing your bet. Consider this: Book A has the Raiders at +130. Book B has the Raiders at +145. Both books agree on the matchup, but Book B is paying you $15 more per $100 wagered. Over 200 bets per season, that gap adds up to meaningful money. Most serious bettors have accounts at three to five sportsbooks for exactly this reason.

Reading odds well is only part of the equation. Knowing whether a line is accurate requires research, and that is where expert analysis earns its keep. Checking expert NBA picks and analysis before you bet gives you a second opinion from analysts who track line movement, injury reports, and matchup trends full-time. Use those resources to stress-test your own reads before committing money.

Common Mistakes Beginners Make Reading American Odds