Betting + Vs. - What Do They Mean?

6 min read
Mar 31, 2024, 7:32 PM

Introduction to American Odds

In sports betting, understanding the language of odds is crucial. American odds, characterized by "+" and "-" symbols, offer a clear indication of potential payouts and the favorites vs. underdogs in any given contest. 

These odds are central to the betting strategies employed by bettors across sports ranging from football to basketball, and beyond. For a comprehensive guide on sports betting basics, visit Sports Betting 101.

The Basics of "+" and "-" Odds

Understanding the odds:

  • "+" (Plus) Odds: Signify the underdog in a matchup. The figure following the "+" indicates the profit on a $100 bet. For instance, odds of +300 mean a $100 bet yields $300 in profit if successful.
  • "-" (Minus) Odds: Indicate the favorite. The figure after the "-" represents the amount needed to bet to win $100 in profit. For example, -300 odds require a $300 bet to win $100 in profit.

These symbols not only communicate the expected profitability of bets but also provide insights into the perceived likelihood of each outcome.

Calculating Payouts with American Odds

To fully grasp how payouts are determined, consider these formulas:

  • Plus Odds Payout: Payout = (Bet Amount×Odds)/100+Bet Amount
  • Minus Odds Payout: Payout = Bet Amount/(Odds/100)+Bet Amount

Real-World Examples from Professional Sports

Jumping into professional sports, let's examine how these odds translate into real betting scenarios.

Example 1: NFL Betting

Imagine betting on an NFL game between the New England Patriots and the Miami Dolphins, where the Patriots are favored, with odds at -150, while the Dolphins are at +130. A bettor believing in the Dolphins' upset potential might place a $100 bet on them. 

If the Dolphins win, the payout is calculated as $230 ($130 profit plus the initial $100 bet). Conversely, betting on the Patriots requires a $150 wager to win $100 in profit, highlighting the risk-reward dynamic in betting on favorites versus underdogs.

Example 2: NBA Betting

In an NBA match between the Los Angeles Lakers and the Denver Nuggets, with the Lakers as underdogs at +160 and the Nuggets as favorites at -180. A $100 bet on the Lakers would return $260 ($160 profit plus the original $100) if they win. To win $100 on the Nuggets, a bettor would need to risk $180. These odds reflect the bookmakers' assessments of the teams' chances and guide bettors in their decision-making.

Explore options through Responsible Gambling's Sportsbook Reviews to find a platform that suits your needs.

Where to Find American Odds

DraftKings Sportsbook
DraftKings New Customer Bonus - Bet and Get Up to $500 in Bonus Bets + 1 Month of NFL+ Premium
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BetMGM Sportsbook
BetMGM Bet First Bet Offer $5 Get $150 in Bonus Bets
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FanDuel Sportsbook
FanDuel Bet $5 Get $200
Get bonus here
  • Availability across most of US legal states
  • Competitive odds & diverse markets
  • Attentive customer service
  • Extensive list of Same Game Parlay's
  • App speeds vary for some users
  • Geo locate sometimes unreliable
AZ
CO
CT
IL
IN
IA
KS
KY
LA
MD
MA
MI
NJ
NY
OH
PA
TN
VA
WV
WY
NC
VT
DC
ON
CAD
USD
VISA
Mastercard
Discover
Debit Cards
ApplePay
Google Pay
Venmo
PayPal
FanDuel Prepaid Card
Cash at Retail Stores
Cash at Cage
ACH/eCHECK
American Express
Bank Wire Transfer
Diners
VIP Preferred
Play+
Go to Website
Details
DraftKings Sportsbook
DraftKings New Customer Bonus - Bet and Get Up to $500 in Bonus Bets + 1 Month of NFL+ Premium
Get bonus here
  • Extensive betting markets
  • Live betting
  • Efficient & secure payments
  • Strong security measures
  • Mobile app connectivity issues
  • Maximum bets on odds boosts are low.
  • Promotional restrictions
NJ
CO
OH
IA
VA
KY
AZ
CT
IL
IN
KS
LA
MD
MA
MI
NH
NY
OR
PA
TN
WA
WV
WY
ON
PR
DC
CAD
USD
ACH/eCHECK
American Express
ApplePay
Google Pay
Debit Cards
VISA
Bank Wire Transfer
PayPal
Trustly
Paynearme
paysafecard
Cash at Cage
Skrill
Cash at Retail Stores
DraftKings Gift Card
Play+
Venmo
VIP Preferred
Mastercard
Discover
Go to Website
Details
BetMGM Sportsbook
BetMGM Bet First Bet Offer $5 Get $150 in Bonus Bets
Get bonus here
  • Available in many U.S. States and Canada
  • Numerous betting markets
  • Major partnerships with teams/leagues
  • Promotions are timely and change rapidly
  • Connectivity issues on betting app
AZ
CO
IN
IA
IL
KS
KY
LA
MD
MI
NJ
OH
PA
TN
VA
DC
WV
WY
NC
ON
MO
CAD
USD
Venmo
American Express
Borgata Cage
Mastercard
VISA
Paynearme
PayPal
Play+
BetMGM GiftCard
VIP Preferred
Bank Wire Transfer
ApplePay
Google Pay
Discover
GameOn Gift Card
Debit Cards
Go to Website
Details
ESPN Bet Sportsbook
ESPN BET Make Any Bet Get $100
Get bonus here
  • Extensive Market Reach.
  • Unmatched Fan Engagement.
  • Live betting.
  • Digital media bohemeth.
  • Limited live streaming.
  • Connectivity issues on betting apps.
AZ
CO
IL
IA
KS
KY
LA
MD
MI
NJ
OH
PA
TN
VA
WV
MA
NC
USD
CAD
VISA
Mastercard
Trustly
ACH/eCHECK
PayPal
Skrill
Venmo
Cash at Cage
Bank Wire Transfer
ApplePay
Debit Cards
Go to Website
Details
Caesars Sportsbook
Caesars: $1000 First Bet On Us
Get bonus here
  • One of the biggest welcome bonuses.
  • Secure payments.
  • Efficient customer service
  • Some users have described slow loading times
  • Limited live streaming options
  • Some bonus wagering requirements are unclear
AZ
CO
DC
IL
IN
IA
KS
KY
LA
MD
MA
MI
NV
NJ
NY
OH
PA
TN
VA
WV
WY
ON
NC
ME
CAD
USD
VISA
Mastercard
Discover
Trustly
Paynearme
PayPal
ACH/eCHECK
Cash at Caesars
Caesars Pre-paid Card
Deposit at a Tavern
Skrill
Venmo
Play+
Debit Cards
ApplePay
Go to Website
Details

Responsible Betting Strategies and Tips

While understanding odds is foundational, successful betting also relies on strategies and best practices.

  • Research: Knowledge of team performance, player injuries, and other factors is crucial.
  • Value Betting: Identify mismatches between odds and perceived real chances of outcomes.
  • Bankroll Management: Allocate only a portion of your funds to betting to mitigate the risk of significant losses.
  • Diversification: Spread your bets across different games or types of bets to reduce risk.
  • Set Limits: Establish clear boundaries for how much time and money you can afford to spend on betting.
  • Avoid Chasing Losses: Accept losses as part of the game and resist the temptation to bet more to recover them.
  • Take Breaks: Regularly stepping away from betting can prevent it from becoming a harmful habit.
  • Seek Help if Needed: Resources like Gamblers Anonymous offer support for those who struggle with gambling.

Betting + or - FAQs

Understanding American Odds

What do "+" and "-" signs mean in betting odds?

"+" signifies the underdog, indicating how much you would win with a $100 bet. "-" denotes the favorite, showing the amount you need to bet to win $100.

How are payouts calculated using American odds?

For plus odds, the formula is (Bet Amount×Odds)/100 + Bet Amount. For minus odds, it's Bet Amount/(Odds/100) + Bet Amount. This calculates your total payout, including your original bet.

Placing Bets

How do I choose the best sportsbook for placing bets?

Consider factors like the variety of betting options, odds competitiveness, user interface, customer service, and reviews. Responsible Gambling's Sportsbook Reviews can be a helpful resource.

Can I bet on multiple games at once?

Yes, most sportsbooks offer the option to place parlay bets, allowing you to bet on multiple games or outcomes within a single bet for potentially higher payouts.

Responsible Betting

How much of my bankroll should I bet at one time?

It's wise to bet only a small percentage of your total bankroll on any single game—typically between 1% and 5%. This helps manage risk and ensures you can weather losses without a significant impact on your finances.

What should I do if betting stops being fun and starts feeling like a compulsion?

Take a break from betting and consider reaching out for support. Organizations like Gamblers Anonymous offer resources and community support for those facing gambling challenges.

<p>Sol has over 20 years of experience in writing for diverse industries including sports, gambling, regulation, technology, and startups. As the Editor-in-Chief at RG, Sol brings a wealth of knowledge and expertise to the role, focusing on delivering transparent, evidence-based content grounded in thorough research. Sol's mission is to empower readers to enjoy gambling responsibly and make informed decisions, enhancing their overall experience through insightful and engaging content. Under Sol's leadership, <a href="https://www.rg.org">RG</a> prioritizes the highest standards of integrity and reliability, ensuring that all information provided is accurate and trustworthy. Sol's dedication to transparency and research-based writing helps create a responsible gambling environment where readers can truly benefit from the content. This commitment to excellence has positioned RG as a leading source of information in the gambling industry.</p><p><strong>Experience:</strong></p><ul><li>Over 20 years in writing and editing across multiple industries</li><li>Former head of regional innovation at BMO Financial Group</li><li>Senior Writer, Online Casino Reports</li></ul>
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Meet our Authors

Paruyr Shahbazyan began his business career in 2000 as a private entrepreneur. Over thirteen years, he developed a deep understanding for business and leadership, laying a solid foundation for his professional journey.

In 2013, Paruyr stepped into the sports and betting industry as the founder and president of Bookmaker Rating. This online mass media platform, which he led until 2020, focused on providing in-depth analysis and insights in sports betting, earning a reputation for its quality content. 

Continuing his innovative approach in 2022, Paruyr co-founded Azuro, a decentralized betting protocol. This venture showcases his dedication to integrating advanced technology in the evolving landscape of sports betting. Through these diverse experiences, Paruyr has continuously influenced and shaped the betting industry, driving new trends and setting high standards.

 ExperienceYear
Engaged in private entrepreneurship2000-2013
Founder and President at Bookmaker Rating, an online platform focused on sports and betting2013-2020
Co-founder at Azuro, a decentralized betting protocol2022

"Innovation in sportsbetting comes from a deep understanding of both technology and the human element of sports." 

- Paruyr Shahbazyan, Founder, RG

 

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Paruyr Shahbazyan's core beliefs lie in the power of informed decision-making and integrity in the betting industry. He understands that the foundation of successful betting is not just about odds and predictions, but also about the trust and reliability of the information provided. Paruyr advocates for a betting environment where transparency and knowledge are paramount, ensuring that bettors are well-equipped with accurate data and insights.

Strategic Vision

Paruyr's vision is to revolutionize the sports betting industry through the integration of technology. He sees the future of betting as a blend of traditional sports knowledge with innovative tech solutions, like decentralized protocols, to enhance user experience and fairness. His aim is to create platforms that are not only user-friendly but also uphold the highest standards of ethical betting, contributing to a more responsible and enjoyable betting culture.

Future Perspectives

Looking towards the future, Paruyr envisions a betting landscape that is more inclusive, technologically advanced, and globally connected. He anticipates a significant shift towards more decentralized and transparent betting systems, driven by blockchain technology. Paruyr is committed to being at the forefront of this change, continuously exploring new possibilities and innovations that can redefine what it means to engage in sports betting in a digital world. His focus is on building systems that prioritize user empowerment, fairness, and the global growth of the sports betting community.

 

Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief

Sol has over 20 years of experience in writing for diverse industries including sports, gambling, regulation, technology, and startups. As the Editor-in-Chief at RG, Sol brings a wealth of knowledge and expertise to the role, focusing on delivering transparent, evidence-based content grounded in thorough research. Sol's mission is to empower readers to enjoy gambling responsibly and make informed decisions, enhancing their overall experience through insightful and engaging content. Under Sol's leadership, RG prioritizes the highest standards of integrity and reliability, ensuring that all information provided is accurate and trustworthy. Sol's dedication to transparency and research-based writing helps create a responsible gambling environment where readers can truly benefit from the content. This commitment to excellence has positioned RG as a leading source of information in the gambling industry.

Experience:

  • Over 20 years in writing and editing across multiple industries
  • Former head of regional innovation at BMO Financial Group
  • Senior Writer, Online Casino Reports
Cristina Varela Galan
Cristina Varela Galan
Problem Gambling Expert

Cristina used to work as a Psychology Assistant in the Bizkaia Pathological and Risky Gamblers Association. She was also part of a research team in Deusto University, specializing in pathological gambling area. While working there, she managed to develop her own project 

 “Exploring the association between emotional regulation, alexithymia, stressful life events and gambling in adolescent and young adult women”.

Nick Ashbourne
Nick Ashbourne
Senior Writer

Nick has been fascinated with sports since he was first taken to a Toronto Maple Leafs game back in 1998, and he's written about them professionally since 2014.

Nick has covered baseball and hockey for outlets like The Athletic, Sportsnet, and Yahoo Sports, and his sports betting expertise has grown since its legalization in Ontario in 2022. 

Between 2022 and 2023 he worked for a betting startup called NorthStar Bets, and in 2024 he contributed to Oddspedia before joining the Responsible Gambler team.

Sergey Demidov
Sergey Demidov
Head of News Department

Sergey has been in sports journalism since 2007 as a reporter, editor, and manager. He has covered the Olympic Games, soccer World Cups, the World Cup of Hockey in 2016, the European championships, the Stanley Cup Finals, IOC events, and many others. Sergey interviewed the sport's greatest athletes, coaches, and executives. Since 2016, he has been an Independent Senior Editor of NHL.com/ru.

Anna Kravtcova
Anna Kravtcova
Problem Gambling Expert

Ph.D. in organizational psychology, an internationally certified psychologist (EuroPsy 2022, Cognitive behavioural therapy of mindfulness 2020, International Society for Emotional Intelligence 2017, Russian Psychological society 2014, American Psychological Association(Society for Industrial and Organizational Psychologist) 2011), speaker of many international conferences (USA, Brazil, Portugal, Czech Republic, Russia, etc.). TEDx speaker.

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