Betting Strategy Guide
How to Read Betting Odds
Key takeaways
- A minus sign (-150) shows how much you must risk to win $100. A plus sign (+130) shows how much a $100 bet wins.
- The minus side is the favorite, the plus side the underdog.
- Odds also tell you the implied probability: -150 means about 60%, +130 about 43%.
Betting odds tell you two things at once: how much a bet pays and how likely the sportsbook thinks an outcome is. US sportsbooks, Betcris Arizona included, show odds in the American format, built around a $100 bet.
What the minus and plus signs mean
Negative odds (-) mark the favorite and show how much you need to risk to win $100. At -150 you risk $150 to win $100; if the bet wins you get back $250, your $150 stake plus $100 profit.
Positive odds (+) mark the underdog and show how much a $100 bet wins. At +130 a $100 bet wins $130, so a winning ticket returns $230.
You do not have to bet $100. The numbers scale: at -150 a $30 bet wins $20, and at +130 a $10 bet wins $13.
How to calculate your payout
| Odds | Profit on a $10 bet | Total return |
|---|---|---|
| -200 | $5.00 | $15.00 |
| -110 | $9.09 | $19.09 |
| +100 | $10.00 | $20.00 |
| +150 | $15.00 | $25.00 |
| +300 | $30.00 | $40.00 |
For negative odds, profit = stake × 100 ÷ odds (without the minus sign). For positive odds, profit = stake × odds ÷ 100.
What odds say about probability
Every price implies a probability. For negative odds, divide the odds by the odds plus 100: -150 gives 150 ÷ 250 = 60%. For positive odds, divide 100 by the odds plus 100: +130 gives 100 ÷ 230 = 43.5%.
If you think a team wins more often than its implied probability, the bet has value. If you think it wins less often, the price is too short.
Why both sides add up to more than 100%
A standard point spread is priced -110 on each side. Each -110 implies 52.4%, so the two sides add up to 104.8%. The extra 4.8% is the sportsbook's margin, called the vig or juice. To make a profit at -110 you need to win more than 52.4% of your bets, not 50%.
Odds move
Odds are not fixed. They change as injuries, weather and the money being bet change the picture, and they keep changing once a game starts in live betting. The price you get is the one shown when your bet is accepted.
Where to go next
Learn the main bet types: the moneyline, the point spread and totals. If you see odds written as 2.50 or 3/2, read our guide to odds formats.
Betting at Betcris Arizona
Betcris Arizona is licensed by the Arizona Department of Gaming. You must be 21 or older and located in Arizona to place a bet. Check the current promotions before you bet, and read our responsible gaming policy. If gambling stops being fun, call 1-800-NEXT-STEP or text NEXTSTEP to 53342.
Frequently Asked Questions
What does -110 mean in betting?
+
You risk $110 to win $100. A $10 bet at -110 wins $9.09. It is the standard price on point spreads and totals.
What does +200 mean?
+
A $100 bet wins $200, so a winning ticket returns $300. The implied probability is 100 ÷ 300 = 33.3%.
Is the favorite always the minus side?
+
Yes. The side with negative odds is the one the sportsbook expects to win. When both sides are close, both can be negative, such as -110 and -110.
What does even money mean?
+
Odds of +100, where you win the same amount you risk. It implies a 50% chance.
