- American odds represent the amount that can be won from a $100 stake, or the amount that must be staked to win $100.
American odds represent the amount that can be won from a $100 stake, or the amount that must be staked to win $100
What Are American Odds?
US odds, also known as American odds or moneyline odds, are commonly used at Sportsbooks operating in the United States and Canada. They indicate the amount that needs to be staked in order to win $100, or the amount that will be won for a $100 stake.
In American odds, positive and negative numbers are used to indicate the underdogs and favourites in a sporting event.
When a team or player is labeled with a positive number, such as +200, it means they are the underdogs, and the number represents the amount of profit that would be made on a $100 bet. So, if a bettor places a $100 wager on a team with odds of +200, and they win, they would receive a total payout of $300, which includes the $100 stake and a $200 profit.
On the other hand, when a team or player is labelled with a negative number, such as -200, it means they are the favourites, and the number represents the amount that needs to be wagered to win $100. So, if a bettor wants to bet on a team with odds of -200, they would need to wager $200 to win $100 in profit. If they win the bet, they would receive a total payout of $300, which includes the $200 stake and a $100 profit.
Therefore positive numbers represent underdogs, and the higher the number, the greater the potential payout. Negative numbers represent favourites, and the lower the number, the greater the likelihood of winning, but the lower the potential payout.
Calculating potential profit using American odds is not quite as simple as other odds formats as there are two separate calculations for positive and negative odds.
For positive odds, the formula for calculating profit is:
Profit = (Odds / 100) x Stake
For negative odds, the formula for calculating profit is:
Profit = (-100 / Odds) x Stake
In both cases the stake needs to be added to the profit in order to calculate the return. See the three examples further down.
To calculate the implied probability of American odds, use the following formulas:
- For positive odds, the formula for implied probability is: (100 / (odds + 100)) * 100
- For negative odds, the formula for implied probability is: (odds / (odds – 100)) * 100
For example, for odds of -120, the implied probability would be (-120 / (-120 – 100)) * 100 = 54.55%.
'Moneyline' Definition
In the US, the term ‘Moneyline’ is often used interchangeably with ‘odds to win’, and represents the amount that a bettor would need to wager in order to win $100 on a favourite or the potential profit on a $100 wager on an underdog.
While Moneyline bets are associated with American odds, the same bets can also be represented using other odds formats such as decimal or fractional odds.
Example 1
Bet on the Dallas Cowboys to win the Super Bowl at +1200 odds with a $100 stake:
- Return = ((odds / 100) x stake) + stake = ((1200 / 100) x $100) + $100 = $1200 + $100 = $1300
- Profit = (odds / 100) x stake = $1200
Example 2
Bet on the Los Angeles Lakers to beat the Brooklyn Nets at -150 odds with a $200 stake:
- Return = ((-100 / Odds) x stake) + stake = ((-100 / -150) x $200) + $200 = $133.33 + $200 = $333.33
- Profit = (-100 / Odds) x stake = $133.33
Example 3
Bet on the Boston Red Sox to lose to the New York Yankees at +175 odds with a $50 stake:
- Return = ((odds / 100) x stake) + stake = ((175 / 100) x $50) + $50 = $87.50 + $50 = $137.50
- Profit = (odds / 100) x stake = $87.50
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Pros & Cons of American Odds
American odds have some pros and cons to be aware of:
Pros
Cons
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