- As we explained with moneyline betting, a negative number (-) indicates the favorite and a positive number (+) indicates the underdog. ATS (Against the Spread) Betting: Case Study As you can see, New England is the favorite in this game by 7.5 points, since they have the negative number.
- Higher than the first, it means the odds are less than even money. This is referred to as odds on (as opposed to odds against), and is the equivalent of when moneyline odds are a negative number or when decimal odds are a number less than 2.
- Why Bet Negative Odds
- What Does Negative Odds Mean In Betting Mean
- What Does Negative Odds Mean In Betting
- What Does Negative Odds Mean
- What Does Negative Odds Mean In Betting Odds
So, for a favorite, the odds will begin with a minus (-) sign. This is the amount you need to bet in order to win $100. On the other hand, the underdog's odds will begin with a plus (+) sign. This is the amount you will receive if you were to bet $100.
Understanding how to read odds is crucial to betting on sports. This guide will teach you how to read odds for moneyline, total, and spread bets. We will be looking at American, decimal, and fractional odds, which are three different ways of writing the same odds.
What are Odds?
Why Bet Negative Odds
Odds represent the likelihood of an outcome occurring. In sports betting, each team is assigned odds that represent the likelihood of them winning the game. When the odds for two teams are even, meaning 1 to 1, it means that each team is equally as likely to win the game. If Team A is assigned 2 to 1 odds, it means Team B is twice as likely to win. If Team A is assigned 10 to 1 odds, it means Team B is ten times as likely to win.
Odds are typically expressed with a positive or negative sign in front of them and are not written as 2 to 1 or 3 to 1.
How do Plus and Minus Odds Work?
In a betting line between two teams, the team expected to win, or favorite, will have minus or negative odds. This means for every dollar wagered, you will earn less than a dollar if your bet wins. The team expected to lose, or underdog, will have positive or plus odds. This means for every dollar you wager, you will gain more than a dollar if your bet wins.
The table below shows an NHL game where the Boston Bruins are favorited to beat the St. Louis Blues.
| Team | Odds | Amount Wagered | Total Payout |
|---|---|---|---|
| Boston Bruins | -150 | $1 | $1.67 ($1 bet + .67 cent won) |
| Boston Bruins | -150 | $10 | $16.67 ($10 bet + $6.67 won) |
| St. Louis Blues | +130 | $1 | $2.30 ($1 bet + $1.30 won) |
| St. Louis Blues | +130 | $10 | $23 ($10 bet + $13 won) |
American Odds
American odds are what you will see displayed on almost every sportsbook. Just like the metric system, dates, and miles per hour (mph), Americans do things differently when it comes to betting odds. Take a look at this standard slate of betting odds from for an MLB game.
| Team | Spread (Runline) | Moneyline | Total |
|---|---|---|---|
| Chicago White Sox | +1.5 (-115) | +140 | Over 9.0 (-120) |
| Los Angeles Angels | -1.5 (-105) | -120 | Under 9 (-105) |
The first thing you will notice when reading odds will be that:
- Odds have either a plus or minus in front of them
- Odds are in terms of 100
Betting Odds are written in terms of 100 as an industry standard. The easiest way to think of the plus and minus signs is as follows. If it is a plus, you will receive more than a $100 payout on a $100 bet. If it is a minus, you will have to bet more than $100 to win a $100 payout.
Thankfully, you can view your potential winnings on each bet before placing it at an online sportsbook. That said, it is beneficial to understand the betting odds.
Moneyline Bets
Definition of bet: A moneyline bet is a wager on which team will win the game outright. Both the favorite and the underdog are given odds to win the game. Read the chart below to get started on reading odds for the following game:What Does Negative Odds Mean In Betting Mean
Green Bay Packers (-150) vs. Detroit Lions (+130)
| Moneyline Odds | How to Read it | What it Means |
|---|---|---|
| Lions +130 | Lions plus 130 | By betting $100 you will win $130 if the Lions win |
| Packers -150 | Packers minus 150 | To win $100, you must wager $150 on the Packers to win |
Spread Bets
Definition of bet: A spread bet is a wager on which team will cover the spread or point spread.
How to read spread odds for the following game: Los Angeles Lakers +5 (-110) vs. Houston Rockets -5 (-110)
| Spread Odds | How to Read it | What it Means |
|---|---|---|
| Lakers + 5 (-110) | Lakers plus 5 points at minus 110 odds | The Lakers must win the game, or lose by less than 5 for you to win your bet |
| Rockets -5 (-110) | Rockets minus 5 points at minus 110 odds | The Rockets must win the game by more than 5 points for you to win your bet. A tie is a push, meaning you don't win or lose. |
Total (Over/Under) Bets
Definition of bet: A total bet focuses on how many points are scored, regardless of who wins the game. After a total point score has been set, bettors can wager on whether the actual score of the game will be over or under the set point score.
How to read over/under odds for the following game:
New York Yankees vs. Boston Red Sox Over 7 (-115) Under 7 (-110)
| Total Odds | How to Read it |
|---|---|
| Over 7 (-115) | In order to win $100, you must bet $115 on the overall combined run score to be higher than 7 |
| Under 7 (-110) | In order to win $100, you must wager $110 on the total combined run score to be less than 7 |
Keep in mind for both spreads and totals that if the game ends in a draw for the bet (Yankees 4, Red Sox 3), then you get your bet back but do not win or lose any additional money.
Fractional Odds
Fractional odds are used more commonly in parts of Europe, as well as in horseracing. To calculate fractional odds, you have to do some mental division or enter your desired amount and see what the sportsbook shows as your payout! Here are some odds for a fictitious horse race and how you go about reading them.
| Horse Name | Odds | How to Read it | Your Bet | You Win |
|---|---|---|---|---|
| Laser Focus | 15/1 | Fifteen to one | $10 | $150 |
| American Pride | 7/2 | Seven to two | $10 | $35 (10 x 3.5) |
| Green Eggs | 3/5 | Three to five | $10 | $6 (10 x .6) |
In this race, where we only have three horses, you can see Laser Focus is the underdog, while Green Eggs (no ham) is the favorite. A lot of sportsbooks offer a fractional view if you prefer it to the American odds.
Decimal Odds
Decimals odds are used more commonly in parts of Europe. When using decimal odds, the underdog has the higher of the two numbers, while the favorite has the lower of the two. To calculate decimal odds, you can use the following equation.
Return = Initial Wager x Decimal Value
Example: Let's say the Arizona Diamondbacks 2.00 are playing the Chicago Cubs 1.90
| Team | Your Bet | Your Return | Your Profit |
|---|---|---|---|
| Arizona 2.00 | $1 | $2 | $1 |
| Chicago 1.90 | $10 | $19.09 | $9.09 |
A lot of sportsbooks offer a decimal view if you prefer it to the American odds.
In conclusion, American odds are almost always displayed at any United States sportsbook, while fractional and decimal odds are almost always displayed at any sportsbook outside of the United States. Check out our Guides Page to see where sports betting stands in your state!
Why do Odds Matter in Sports Betting?
The odds are essential when selecting a sportsbook because they affect your money. If you choose a sportsbook with poor odds, you will end up wasting money every time you place a bet. Let's say you bet $10 on the Vikings moneyline at -200 at one sportsbook. If you win your bet, you pocket $5. If you went line-shopping and found the same bet for -175 at another sportsbook, you would pocket $6, $1 more. Understanding betting odds allows you to decipher between good and bad odds.
Look at the odds below offered on five games from the 2019 NFL Season. Odds from five different sportsbooks are shown. You'll notice each sportsbook offers different odds for each game. If you were betting on these games, you would be able to find the best odds for your desired bets. Using this strategy of line shopping will allow you to save money while betting on games.
How to Use Odds to Calculate Implied Probability
Odds can be used to calculate the implied probability of a team winning or losing a game. You can use a simple math equation to understand what the sportsbook thinks the probability of each team winning is. For positive odds, probability = 100/(odds + 100). For negative odds, probability = odds/(odds – 100).
| Team | Odds | Implied Odds of Winning | Implied Percentage |
|---|---|---|---|
| Miami Heat | +130 | 100/(130 + 100) = .4347 | 43.47% |
| Chicago Bulls | -110 | -110/(-110 - 100) = .5238 | 52.38% |
If you think the Chicago Bulls have a 70% chance of winning, then betting on them would be considered a smart bet.
The process is simple, but If you don't feel like doing the math, use ESPN's gamecast preview: preview or Action Network's odds calculator.
Odds FAQ
What does a negative point spread mean?
In a professional sports matchup a point spread is given to each team for sports betting purposes. When a negative point spread is given to a team, it means they are favorited to win the game. When a positive point spread is given to a team, it means they are not expected to win the game.For example, if the Kansas City Chiefs are minus three (-3) against the Los Angeles Rams (+3), then it is expected that the Kansas City Chiefs will win the game and that Los Angeles will lose.
What do odds of +200 mean?
Odds of +200 mean 2 to 1. For every $1 wagered on a team with +200 odds $2 will be paid out. Odds of +200 are greater are offered on teams that are NOT expected to win a game.
How do parlay odds work?
A parlay bet is a group of spread, moneyline, or total bets combined into one bet to increase the payout odds. In order for the parlay to win, each separate bet has to win. Parlay odds offer bigger payouts than normal odds because they are riskier since each individual bet has to win.
Here is an example of a standard parlay payout table based on true odds. What this means is exact payouts are shown for wagers at -110 odds, where a bet of $110 wins you $100.
| Parlay Size | Payouts |
|---|---|
| 2-Team | 2.645/1 |
| 3-Team | 5.958/1 |
| 4-Team | 12.283/1 |
| 5-Team | 24.359/1 |
| 6-Team | 2.645/1 |
| 7-Team | 91.424/1 |
| 8-Team | 175.446/1 |
| 9-Team | 335.852/1 |
| 10-Team | 642.082/1 |
| 11-Team | 1226.701/1 |
| 12-Team | 2342.793/1 |
Methodology
For the BettingBuck.com annual best online sportsbooks review published in 2020, a total of 2,300 data points were collected over six months and used to score sportsbooks. Additionally, odds data was collected for each sportsbook on over 1,400 bets to give each sportsbook a comparative odds ranking.
Sports betting sites were scored across seven core categories to computer an overall rating: total number of sports and bets offered, odds, live betting features, mobile apps, educational resources, ease of use, and current bonuses.
Learn more about how we test.
What Does Negative Odds Mean In Betting
Almost every casino player, and especially the more experienced ones, uses a certain kind of betting system, no matter if the system is mostly consistent of making guesses what follows next. In addition, betting systems are used by a lot of players to make their game more exciting, while trying to beat the casino house edge.
There are different kinds of betting systems, but the most popular ones are the positive and the negative progression system. There are a lot of debates which of the systems is better, but in fact, there is no clear-cut answer. The truth is that skilled players will be able to gain a small edge over the casino by using a certain betting system, but everyone knows what is best for their gameplay.
As a matter of fact, most players, and especially the less experienced ones, prefer to stick to the positive progression betting system, which is not considered as risky as the negative progression system. The latter is regarded as more dangerous for players due to the fact that users are normally risking larger amounts of money after they have already lost a bet.
Negative Progression Betting Systems
First, in order to understand any kind of progression betting system, players need to be aware of the fact what the term 'progression' means. In this case, the word is used in order to show that players increase their bets consecutively.
The negative progression system is all about increasing the player's bet after they have generated a loss, based on the hope of getting back to even after making a winning. As mentioned above, the negative systems are normally considered extremely dangerous, because of the fact that it is possible for them to lead to the player losing their entire bankroll after a long series of losses.
There are different negative progression betting systems used, but probably the most popular one is the Martingale betting system, which involves doubling the player's bet after every loss. Of course, the Martingale system is not the only negative progression system currently used. Other systems that are very popular among players all over the world are the Labouchere system, the Fibonacci system, and the D'Alembert system.
The negative progression is basically the opposite of the positive one. Systems of this type are based on the player's strategy to increase their wagers when losing, and reducing them when winning. The main theory that lies in the very basis of the strategy is that the player should generate a win eventually, and thanks to winning at higher bets than the money lost, the player should get at least even, or make money overall.
Unfortunately, there is no guarantee when the player's losing streak will be ended. This basically means, that the player may lose their entire bankroll without generating a win. This is exactly why players are recommended to not fully trust the widely-mistaken perception that previous outcomes of events that happen at random can somehow have influence on any future outcomes. This belief is more popular under the term 'the gambler's fallacy' and has actually led to numerous losses for players all over the world. This is the reason why negative progression betting systems are usually considered as too risky – the constantly increasing stakes based only on the suggestion and hope that the player is to eventually generate a win is usually a recipe for disaster.
Another common misconception about the negative progression betting systems is that they are not able to return a profit. This is definitely not true. The only problem is that players are still relying on luck only, and no one can really guess the actual sequence of events. It is true that players can end up losing large sums of money, but it is also true that the winning stakes can get really massive.
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Popular Negative Progression Betting Systems
Here is a list with the most popular negative progression betting systems known. They have managed to attract thousands of followers worldwide and they have been proved as ones that actually work:
Fibonacci System
The Fibonacci System is one of the most popular negative progression betting system. It is not considered as part of the simplest betting systems, but it is not too complicated, either. As the name of the system suggests, it is based on the Fibonacci mathematical sequence.
The sequence starts with 0 and 1. After that, each subsequent number equals the sum of the previous two numbers. The fact that the system is a negative progressive one means that it is related to the player increasing their bet every time they lose, and decreasing it when they generate a winning.
Positive Progression Betting Systems
Negative Progression Betting Systems
1-3-2-6 Betting System
Fibonacci Betting System
D'Alembert Betting System
D'Alembert System
The D'Alembert System is one of the simplest negative betting systems. According to experts, it has some similar characteristics of the Martingale system. As any other negative progression betting system, it involves increasing the wager after a loss is generated, and reducing the bet after a win.
What is specific for the D'Alembert is the fact that the stakes are boosted more slowly in comparison to other systems. This is great, as it guarantees that it is less likely for the stakes to get extremely high too quickly. Still, the advantage could be seen also as a disadvantage, as losses are recovered more slowly by using this system.
Labouchere System
The Labouchere negative progression system is considered as part of the most complicated ones. Still, it is currently one of the most-preferred ones among players all over the world. The main idea which the Labouchere system is based on, is that the player is supposed to recover several consecutive losses with a smaller number of winnings generated.
Almost every casino player, and especially the more experienced ones, uses a certain kind of betting system, no matter if the system is mostly consistent of making guesses what follows next. In addition, betting systems are used by a lot of players to make their game more exciting, while trying to beat the casino house edge.
There are different kinds of betting systems, but the most popular ones are the positive and the negative progression system. There are a lot of debates which of the systems is better, but in fact, there is no clear-cut answer. The truth is that skilled players will be able to gain a small edge over the casino by using a certain betting system, but everyone knows what is best for their gameplay.
As a matter of fact, most players, and especially the less experienced ones, prefer to stick to the positive progression betting system, which is not considered as risky as the negative progression system. The latter is regarded as more dangerous for players due to the fact that users are normally risking larger amounts of money after they have already lost a bet.
Negative Progression Betting Systems
First, in order to understand any kind of progression betting system, players need to be aware of the fact what the term 'progression' means. In this case, the word is used in order to show that players increase their bets consecutively.
The negative progression system is all about increasing the player's bet after they have generated a loss, based on the hope of getting back to even after making a winning. As mentioned above, the negative systems are normally considered extremely dangerous, because of the fact that it is possible for them to lead to the player losing their entire bankroll after a long series of losses.
There are different negative progression betting systems used, but probably the most popular one is the Martingale betting system, which involves doubling the player's bet after every loss. Of course, the Martingale system is not the only negative progression system currently used. Other systems that are very popular among players all over the world are the Labouchere system, the Fibonacci system, and the D'Alembert system.
The negative progression is basically the opposite of the positive one. Systems of this type are based on the player's strategy to increase their wagers when losing, and reducing them when winning. The main theory that lies in the very basis of the strategy is that the player should generate a win eventually, and thanks to winning at higher bets than the money lost, the player should get at least even, or make money overall.
Unfortunately, there is no guarantee when the player's losing streak will be ended. This basically means, that the player may lose their entire bankroll without generating a win. This is exactly why players are recommended to not fully trust the widely-mistaken perception that previous outcomes of events that happen at random can somehow have influence on any future outcomes. This belief is more popular under the term 'the gambler's fallacy' and has actually led to numerous losses for players all over the world. This is the reason why negative progression betting systems are usually considered as too risky – the constantly increasing stakes based only on the suggestion and hope that the player is to eventually generate a win is usually a recipe for disaster.
Another common misconception about the negative progression betting systems is that they are not able to return a profit. This is definitely not true. The only problem is that players are still relying on luck only, and no one can really guess the actual sequence of events. It is true that players can end up losing large sums of money, but it is also true that the winning stakes can get really massive.
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Popular Negative Progression Betting Systems
Here is a list with the most popular negative progression betting systems known. They have managed to attract thousands of followers worldwide and they have been proved as ones that actually work:
Fibonacci System
The Fibonacci System is one of the most popular negative progression betting system. It is not considered as part of the simplest betting systems, but it is not too complicated, either. As the name of the system suggests, it is based on the Fibonacci mathematical sequence.
The sequence starts with 0 and 1. After that, each subsequent number equals the sum of the previous two numbers. The fact that the system is a negative progressive one means that it is related to the player increasing their bet every time they lose, and decreasing it when they generate a winning.
Positive Progression Betting Systems
Negative Progression Betting Systems
1-3-2-6 Betting System
Fibonacci Betting System
D'Alembert Betting System
D'Alembert System
The D'Alembert System is one of the simplest negative betting systems. According to experts, it has some similar characteristics of the Martingale system. As any other negative progression betting system, it involves increasing the wager after a loss is generated, and reducing the bet after a win.
What is specific for the D'Alembert is the fact that the stakes are boosted more slowly in comparison to other systems. This is great, as it guarantees that it is less likely for the stakes to get extremely high too quickly. Still, the advantage could be seen also as a disadvantage, as losses are recovered more slowly by using this system.
Labouchere System
The Labouchere negative progression system is considered as part of the most complicated ones. Still, it is currently one of the most-preferred ones among players all over the world. The main idea which the Labouchere system is based on, is that the player is supposed to recover several consecutive losses with a smaller number of winnings generated.
What is specific for the system is the fact that it is focused on recovering several losses with multiple wins.
Martingale System
What Does Negative Odds Mean
The Martingale negative progression system is known as one of the oldest and most-preferred ones. The best part is that it is also one of the easiest systems to learn, as there are no complicated calculations for the players to make. The system is based on a certain theory that there is small probability of the player losing a large number of consecutive bets.
What Does Negative Odds Mean In Betting Odds
Once again, this is a negative progression system, which means that players increase their bets when losing, and decrease them when winning.
