If you think the likelihood is higher than that, it is a good bet. If the odds are +200 that means the book is giving you the odds that the bet will come in one-third of the time. However, they are presented, being able to convert your odds into a break-even percentage is a crucial part of understanding what is actually a good bet. Converting odds to a break-even percentage This is a case where decimal odds can be better. Much easier, right? The return would be $18.70. Multiply the odds by the bet and you get the return that would include the original bet. The decimal odds would be listed at 1.87, which would make for much easier math on this $10 bet. Quick, do the math of the return on a $10 bet with 20-23 odds. For example, it’s fairly common to see American odds of -115, but that converts to 20-23 in fractional odds. These are more commonly used outside the US when the fractions used in fractional odds get a bit ugly. Anything between 1 and 2 is a favorite bet and 2 is an even money bet. If the odds are listed as 6, a winning bet would receive $5 profit and the original $1 bet. Let’s take a look at how this works for a real game.ĭecimal odds are shown as one number, which is the amount a winning bet would collect on a $1 bet. If you bet $20, you would profit $40.įor the rare even money odds, those can be listed as -100, +100 or EV.

A $100 bet with +200 odds nets you $200 profit plus your original $100 bet. Plus odds tell you how much profit you will get on a $100 bet. A $10 bet with -200 odds would give you $5 plus your original $10 bet back. Of course, bets don’t have to be that size, but that proportion will scale up or down. If your odds are -200, you would need to bet $200 to win $100.

If the odds are -110, a common number for a bet involving a spread, you would need to bet $110 to win $100.

For favored bets, the bet odds will start with a negative number and they tell you how much you need to bet to win $100. American odds are based around $100, but how they relate to $100 varies depending on whether the bet is favored or not. They aren’t as straight-forward as decimal or fractional odds. American odds are a bit confusing on their face.

Quick guide to sports betting