What Does +/- Mean in Betting? Plus Minus Explained

A minus sign in front of the odds means that team or outcome is the favorite. The number tells you exactly how much you need to bet to win $100 in profit. At -200, you would wager $200 to profit $100. At -110, you would wager $110 to profit $100. The larger the negative number, the bigger the favorite.

Think of it this way: the sportsbook is saying this outcome is more likely to happen, so they are making you risk more to earn less. A team listed at -500 is a massive favorite — you would need to put up $500 just to earn $100. While a -500 favorite wins most of the time, the low payout relative to the risk makes these bets dangerous because one loss wipes out five wins worth of profit.

In spread betting, the minus sign serves a different purpose. A team listed at -3.5 is favored to win by more than 3.5 points. In this context, the minus means they are giving points to the other team. The odds next to the spread (typically -110) then tell you the payout, while the -3.5 tells you the margin the favorite must cover.

A plus sign means the team or outcome is the underdog. The number tells you how much profit you earn on a $100 bet. At +200, a $100 bet returns $200 in profit (plus your $100 stake for a total of $300). At +150, you profit $150 on a $100 wager. The larger the plus number, the bigger the underdog.

Plus-money bets are attractive because you risk less than you stand to gain. At +300, you are getting 3-to-1 on your money. The trade-off is that the sportsbook is telling you this outcome is less likely. However, sportsbooks are not always right about probability — finding underdogs whose true odds are better than the line suggests is how sharp bettors make money.

In spread betting, a plus sign means the team is receiving points. A team at +3.5 starts the game with a virtual 3.5-point lead. If they lose by 3 or fewer points (or win outright), the spread bet wins. This is the most common way to level the playing field between a strong team and a weaker opponent.

For minus odds, the payout formula is: Profit = (Stake / |Odds|) * 100. If you bet $50 at -150, your profit is ($50 / 150) * 100 = $33.33, for a total return of $83.33. For plus odds, the formula is: Profit = (Stake / 100) * Odds. If you bet $50 at +200, your profit is ($50 / 100) * 200 = $100, for a total return of $150.

You do not have to bet exactly $100. The odds scale proportionally. A $25 bet at +200 wins $50 in profit. A $10 bet at -150 wins $6.67 in profit. Every sportsbook calculates this automatically when you enter your wager amount, but understanding the math yourself helps you evaluate whether a bet offers genuine value.

When comparing two bets, always think in terms of what you risk versus what you win. A -200 favorite requires $200 risk for $100 profit (a 1:2 risk-to-reward ratio). A +200 underdog requires $100 risk for $200 profit (a 1:2 reward-to-risk ratio). This framing helps you quickly assess whether the potential return justifies the risk.

Moneyline bets use plus/minus to show outright winner odds. The favorite might be -180 and the underdog +155. In spread bets, the points carry the plus or minus (e.g., -6.5 or +6.5), while the odds on each side are usually near -110. In totals (over/under), the plus/minus refers to the odds rather than the direction — the line might be Over 48.5 (-110) / Under 48.5 (-110).

Player props use plus/minus for the odds, not the stat line. Patrick Mahomes Over 285.5 passing yards at -115 means you risk $115 to win $100 that he throws for 286 or more yards. The 285.5 is the prop line, and the -115 is the juice. Understanding which number is the line and which is the odds is crucial for reading prop markets correctly.

In futures markets, you will see a wide range of plus numbers. A team at +2500 to win the Super Bowl means a $100 bet pays $2,500 if they win it all. Futures typically have large plus numbers because each outcome is unlikely on its own. The favorite might be +400 while longshots could be +15000 or more.

Beyond reading lines, understanding plus/minus helps you calculate implied probability. At -200, the implied probability is 66.7%. At +200, it is 33.3%. When your own analysis says a team has a 40% chance of winning but the odds imply only 33.3%, you have found value. This gap is the entire basis of profitable sports betting.

The plus/minus system also helps you understand the vig. In a fair market, a coin flip would be +100 on both sides. But sportsbooks list it as -110 on both sides, implying 52.4% probability for each side (totaling 104.8%). That extra 4.8% is the sportsbook's commission. Recognizing vig helps you shop for the best available lines.

Start by getting comfortable reading American odds instinctively. When you see -145, you should immediately know: moderate favorite, need to risk about $145 per $100 of profit, implied probability around 59%. When you see +180, you should think: underdog, $180 profit per $100 risked, implied probability about 36%. This fluency comes with practice and is the foundation of everything else in sports betting.