What Are Betting Odds?
Odds tell you two things: how likely an outcome is (implied probability) and how much you'll win if your bet hits. In the US, we use "American odds" which are displayed with a + or - sign followed by a number.
Example: Browns vs Bengals
Negative Odds (-) = Favorites
When you see a minus sign, that's the favorite. The number tells you how much you need to bet to win $100.
At -150, you'd bet $150 to win $100 profit. If the Bengals win, you get your $150 back plus $100 in profit = $250 total.
So if you bet $50 at -150: Profit = $50 × (100 ÷ 150) = $33.33
Positive Odds (+) = Underdogs
When you see a plus sign, that's the underdog. The number tells you how much you win on a $100 bet.
At +130, a $100 bet wins $130 profit. If the Browns win, you get your $100 back plus $130 = $230 total.
So if you bet $50 at +130: Profit = $50 × (130 ÷ 100) = $65
Odds Calculator
Calculate Your Payout
What is -110?
You'll see -110 constantly in sports betting. This is the standard "vig" (vigorish) — the sportsbook's built-in commission. On a point spread or total, both sides are typically -110.
At -110, you bet $110 to win $100. This means the sportsbook takes about 4.5% on every bet. It's how they make money. When you see better odds like -105, that's reduced juice and you're getting a better deal.
At -110, you need to win about 52.4% of your bets just to break even. That's the built-in house edge. It's why shopping for the best odds across multiple sportsbooks matters — getting -108 instead of -110 saves real money over time.
Implied Probability
Odds tell you what the market thinks the probability of an outcome is. Here's how to convert:
| Odds | Implied Probability | What It Means |
|---|---|---|
| -300 | 75% | Heavy favorite |
| -150 | 60% | Solid favorite |
| -110 | 52.4% | Slight favorite (standard) |
| +100 | 50% | Even money (coin flip) |
| +150 | 40% | Moderate underdog |
| +300 | 25% | Big underdog |
| +1000 | 9% | Longshot |
Point Spreads
Point spreads level the playing field between favorites and underdogs. Instead of just picking a winner, you're betting on the margin of victory.
Example: Chiefs at Browns
If the Chiefs win 24-17, they covered (-6.5 means they needed to win by 7+, they won by 7). If the Browns lose 24-20, they covered (lost by only 4, beating the +6.5 spread).
Totals (Over/Under)
Totals are bets on the combined score of both teams. You're betting whether the game will go Over or Under a set number.
Example: Cavaliers vs Celtics
If the final score is 115-110 (225 total), the Over wins. If it's 105-108 (213 total), the Under wins. The half-point prevents ties.
Key Takeaways
Negative odds (-) = favorites. Number shows how much to bet to win $100.
Positive odds (+) = underdogs. Number shows how much you win on a $100 bet.
-110 is standard. The vig means you need ~52.4% winners to profit.
Shop for odds. Different sportsbooks offer different lines. Getting -105 instead of -110 saves money.
Ready to Place Your First Bet?
Compare Ohio sportsbooks and find the best odds for your bets.
See Best Ohio Apps →