Betting + Vs. - What Do They Mean?

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6 min read
iconMar 31, 2024, 7:32 PMicon

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

FanDuel Sportsbook
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DraftKings Sportsbook
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  • Extensive betting markets
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BetMGM Sportsbook
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  • Available in many U.S. States and Canada
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ESPN Bet Sportsbook
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Caesars Sportsbook
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  • One of the biggest welcome bonuses.
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  • Some users have described slow loading times
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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>With 20+ years of writing experience across sports, gambling, regulation, technology, and startups, Sol brings a broad understanding to his role as Editor-in-Chief at RG. His work provides clear, factual information to help readers make informed decisions about gambling. Sol’s approach is about transparency and research, so the content at RG is straightforward, evidence-based, and accessible.</p><p>At RG, Sol keeps the focus on the reader by maintaining a standard of reliability and integrity in the information shared. Under his editorial direction, RG aims to provide practical insights into sports and sports entertainment that support a balanced and informed approach. Sol’s approach has helped RG become a go-to source for readers looking to engage responsibly and thoughtfully in the industry.</p>
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Paruyr Shahbazyan started his business career as an entrepreneur in 2000. Over 13 years, he learned business and leadership, which laid the foundation for his career.

In 2013, Paruyr entered the sports and betting industry as the founder and president of Bookmaker Rating, an online media platform he led until 2020. The platform focuses on in-depth analysis and insights in sports betting and has gained a reputation for quality content.

In 2022, Paruyr co-founded Azuro, a decentralized betting protocol. This shows his commitment to technology in the sports betting space. Through all these experiences, Paruyr has been shaping and influencing the betting industry, setting new trends and standards.

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

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

With 20+ years of writing experience across sports, gambling, regulation, technology, and startups, Sol brings a broad understanding to his role as Editor-in-Chief at RG. His work provides clear, factual information to help readers make informed decisions about gambling. Sol’s approach is about transparency and research, so the content at RG is straightforward, evidence-based, and accessible.

At RG, Sol keeps the focus on the reader by maintaining a standard of reliability and integrity in the information shared. Under his editorial direction, RG aims to provide practical insights into sports and sports entertainment that support a balanced and informed approach. Sol’s approach has helped RG become a go-to source for readers looking to engage responsibly and thoughtfully in the industry.

Cristina Varela Galan
Cristina Varela Galan
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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
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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. 

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Anna Kravtcova
Anna Kravtcova
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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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