How to Read American Odds – Learn How to Read the American Odds Format and Calculate Your Bets

When betting on sports online, bettors can often choose between the three main odds types. These include American, fractional, and decimal odds. While decimal odds are most popular on a global scale, American betting odds are considered default in Canada and North America. But since they’re quite different from the other formats, many new bettors are wondering how to read American odds.

The gist of it is quite simple once you learn the basics. We’ll cover the reading process for this type of odds in this guide, with examples that cover popular MLB, NHL, NBA, and NFL markets such as the Super Bowl.

What Are American Odds?

American odds are also known as moneyline odds and are mostly popular at US or North American sportsbooks. They display betting process for any sport, including soccer, ice hockey, American football, or basketball. Unlike decimal odds, the format was built around a $100 benchmark. To put it simply, American betting odds show how much you can win or need to stake on an outcome.

They revolve around positive (+) and negative (-) odds. Before online betting sites, American odds were used in retail betting. The format remained the same when the industry moved online. What’s more, it’s the default at BetPlays for Canadian bettors who are familiar with the subject and understand how positive and negative odds work.

The positive and negative odds describe the underdogs and favorites. We’ll break things down into detail below.

Understanding Positive Odds

To have the American odds explained, we’ll start with the positive odds. The + odds in front of a team indicate the underdog. For example, a +200 moneyline shows how much money bettors win on a bet of $100. It’s further scaled down to the exact bet size, which is done automatically by the BetPlays system.

• So, for example, if you put a $100 bet on positive odds of +200, you’ll make $200 profit on the stake for a total of $300 in return.

These odds are widely used in moneylines, but work in other markets as well. BetPlay’s American odds calculator can provide a clear outcome for every wager you place and how much you might make in profit.

Understanding Negative Odds

In order to learn how to read American odds correctly, bettors need to know how negative odds work. Contrary to positive odds, the negative odds indicate the favorite. The number displays how much bettors need to wager in order to win $100.

• A bet of $200 on odds of -200 for a favorite in an NBA game offers a profit of $100 and a total of $300. That’s more money invested and lower profit than betting on underdogs because of the shorter odds.

Favorites are favorites for a reason. Negative odds show which team or player is expected to win. The more negative the odds (e.g., –200 vs –100), the higher the sportsbook’s implied probability that the favorite will win.

How to Calculate Payouts Using American Odds

Bettors can use an American odds calculator to check their profits. It’s all simple once you know t he formula for positive and negative odds.

• Formula for positive odds:

Profit = (Stake × Odds) ÷ 100

• Formula for negative odds:

Profit = (Stake ÷ Odds) × 100

BetPlays Canada does the calculations automatically. However, it’s important to learn the formula and know the math so you can determine the value of each bet and compare betting lines accurately.

Many bettors prefer decimal odds for clarity. The good thing is that you can switch between the three main odds types at will to determine the value of each bet.

American Odds vs Decimal & Fractional Odds

American betting odds differ from fractional and decimal odds in how they display the probability of an event. We’ll quickly cover all three main sports betting odds below.

Final Tips for Beginners

We hope our guide helped you learn how to read American odds. While they look different from the rest of betting odds types, everything’s easy to read once you get to know the basics. Bettors at BetPlays can easily switch to different odds types and determine where value lies. This will allow you to keep track of favorites and underdogs and make more informed decisions.

Start with moneyline odds, and then you can work your way up to other markets to determine the favorite or underdog. Our sportsbook odds are among the best, so you’ll have great value in any market regardless of the sports betting BetPlays lines.