How to Read Betting Odds

One of the first things every sports bettor must learn is how to read betting odds. Odds not only tell you how much you can win but also represent the implied probability of an outcome.

Types of Odds

• American Odds (+/-): Positive odds (+150) show how much profit you'd make on a $100 bet. Negative odds (-120) show how much you need to risk to win $100.
• Decimal Odds: Common in Europe. Odds of 2.50 mean you win $2.50 total for every $1 bet (includes stake).
• Fractional Odds: Common in the UK. Odds of 5/2 mean you win $5 profit for every $2 bet.

Examples

• +200: A $100 bet wins $200 profit.
• -150: You must bet $150 to win $100 profit.
• 2.00 (Decimal): A $50 bet returns $100 total ($50 profit + $50 stake).

Implied Probability

You can convert odds into probability to see what the sportsbook thinks the chances are. For example:

• American Odds +200: 33.3% chance.
• American Odds -150: 60% chance.