Direct Answer
American odds express the price of a bet relative to a $100 stake. Negative odds (e.g. –150) show how much you must risk to win $100. Positive odds (e.g. +130) show how much you win on a $100 stake. They are the default format for US sportsbooks.
Key Takeaways
- Negative odds = favorite; positive = underdog.
- Numbers are relative to $100.
- Implied probability includes vig and overstates truth.
Reading the price
–150 means risk $150 to win $100 (or $15 to win $10). +130 means risk $100 to win $130 (or $10 to win $13). The minus side is the favorite; the plus side is the underdog. The closer to ±100, the closer the market is to a coin flip.
Converting to implied probability
Negative odds: implied = (–odds) / (–odds + 100). –150 implies 60.0%. Positive odds: implied = 100 / (odds + 100). +130 implies 43.5%. These probabilities include the vig and overstate true probability slightly.
Frequently asked questions
Is +110 better than –110?+
Yes — +110 pays more on the same stake. –110 is the standard 'juiced' line that includes the book's margin on each side.
Educational only. Not wagering, financial, or legal advice. See our editorial policy.