American odds express everything relative to $100. Negative numbers show how much you must stake to profit $100; positive numbers show how much $100 stake returns. Once you understand the logic it becomes intuitive.
Published May 15, 2026 · Last updated May 15, 2026
Negative odds (e.g. –150) indicate a favourite. The number shows how much you stake to profit $100. At –150, you stake $150 to profit $100 (total return: $250).
Positive odds (e.g. +200) indicate an underdog. The number shows how much you profit from a $100 stake. At +200, a $100 bet returns $300 ($200 profit + $100 stake).
| American odds | Decimal equivalent | Implied probability | $100 stake returns |
|---|---|---|---|
| –300 | 1.333 | 75.0% | $133.33 |
| –200 | 1.500 | 66.7% | $150.00 |
| –150 | 1.667 | 60.0% | $166.67 |
| –110 | 1.909 | 52.4% | $190.91 |
| –100 / +100 | 2.000 | 50.0% | $200.00 |
| +110 | 2.100 | 47.6% | $210.00 |
| +150 | 2.500 | 40.0% | $250.00 |
| +200 | 3.000 | 33.3% | $300.00 |
| +500 | 6.000 | 16.7% | $600.00 |
Positive odds: (American ÷ 100) + 1
Example: +200 → (200 ÷ 100) + 1 = 3.00
Negative odds: (100 ÷ |American|) + 1
Example: –150 → (100 ÷ 150) + 1 = 0.667 + 1 = 1.667
Positive odds: 100 ÷ (American + 100)
Example: +200 → 100 ÷ 300 = 33.3%
Negative odds: |American| ÷ (|American| + 100)
Example: –150 → 150 ÷ 250 = 60.0%
In North American sports betting, point spread and totals bets are almost always priced at –110 on both sides. This means you stake $110 to win $100. The 10% overage (the "juice") is the bookmaker's margin — roughly 4.5% on each side. This is effectively the standard "rake" for spread betting in the US market.
The moneyline is a straight win/lose bet — no handicap. The point spread adjusts the result by a predetermined margin so both sides are theoretically 50/50. In football and basketball, spreads are more popular than moneylines for evenly-matched games because the odds are close to –110 for both sides rather than an extreme like –400/+300.
Use our full American odds guide for the complete converter and additional worked examples.