What Do Odds of +200 Mean?
Whether you’re looking to learn how to bet or you want to start a bookie, one of the first things you need to learn is how to read American betting odds, which I’ll explain in this article.
Before you can even bet on sports, you need to know how to understand the betting odds.
The majority of bookies use American betting odds, especially if they target US bettors. There are a few ways to display the odds, but we’re going to focus on learning what US betting odds mean.
● Money Line Bet Example: Patriots -240 vs. Titans +200
Let’s take a look at the example above. In the money line bet example above, the Patriots have odds of -240 to win the game straight-up, while the Titans have odds of +200 to win the game.
The easiest way to understand the betting odds is to imagine you’re betting $100 on each team.
● When a team has negative (-) odds the number is how much you need to bet to win $100. So in our example above, you’d need to bet $240 to win $100 on the Patriots if they win.
● When a team has positive (+) odds the number is how much you’ll win on a $100 bet. With that being said, a $100 wager on the Titans would payout a profit of $200 if they win.
Once you understand that negative odds is how much you need to bet to win $100 and positive odds is how much you’ll win on a $100 bet, you can quickly understand any American odds.
If you want to bet more/less on a game, you can multiply/divide to determine the payout.
Let’s say you want to bet $300 on the Titans at +200 odds. We already know that odds of +200 mean you’ll win $200 profit on $100 bet. If you want to bet $300, the potential profit would be $600.
Here’s another example of a money line bet from another game with different odds:
● Money Line Bet Example: Saints -400 vs. Vikings +330
Using the information I shared with you above, we can quickly determine that it would require a $400 bet on the Saints to win $100 or a $100 bet on the underdog Vikings would payout $330 profit.
As you can see, understanding what American odds mean is simple. Once you understand how to read odds you can take the next step and learn more advanced sports betting topics.
If you plan on starting a bookie it’s important to understand how to read betting odds.
Starting a sportsbook can be made simple by utilizing a pay-per-head service. They handle all of the betting odds for every market, but it’s still a good idea to understand how betting odds work.
The time to make money is now in the online sports betting industry. We’ve seen multiple countries and U.S. states legalize online sports betting and there are thousands of people looking to bet.