In American sports betting, you’ll often see the plus (+) and minus (-) odds. If you’re not used to this layout, understanding it can be a struggle.
For instance, what does +200 odds mean? Well, this indicates you’re looking at a moneyline bet or future odds. Totals and point spread odds are usually offered at -110 and +110, and it’s rare they would go up to +200.
If you’re a new bookie, you may wonder if offering +200 odds is worth it. Read on to learn what these odds mean and how to make them work for you!
What Does +200 Odds Mean?
The first thing to understand about + and – odds is that they indicate favorites and underdogs. The plus sign is reserved for underdogs.
These odds are great for calculating payouts quickly. They’re built around a simple, flat $100 bet. If someone’s betting on a team with +200 odds, this means they’ll earn $200 on a $100 wager.
For minus odds, this system gives you a clear idea of what people will need to bet to win $100. For example, if someone bets on a team with -110 odds, they’ll need to bet $110 to win $100.
Differences in +200 Odds
As mentioned above, +200 odds usually involve moneyline and future odds. Depending on the type of bet, +200 odds can be a freebie or a long shot.
For moneyline odds, a team listed at +200 is usually an obvious underdog. That said, this also depends on the sport. A +200 bet in the NFL can be very different from a +200 bet in MLB or NHL.
If this is a futures bet, +200 odds can be very valuable. With these types of bets, the bettor would receive +200 for every $100 they wager. That said, future odds tend to fluctuate a lot, which brings us to…
Why Do Odds Fluctuate?
Odds in sports betting can change at any time. A team listed at +200 one day may end up being at +160 the next. But why is this the case?
Well, there are a few reasons why lines and odds change so rapidly. Player injuries, for example, are a big factor. If the news breaks that a favored team’s star will miss a game, they may not be such a big favorite anymore.
However, the biggest factor in fluctuating odds is the bet itself. Based on the amount of money people wager on each side, the odds will change. This is a way for bookies to protect themselves against major losses.
It’s also worth noting that different sportsbooks will offer different odds. Smart bettors will shop around for the best odds they can find. This is why it’s important to keep track of your competition when setting your odds.
Other Types of Betting Odds
So far, we’ve only talked about American betting odds. The other two types of betting odds you may want to know about are fractional and decimal.
If you’re a new bookie, it may be a good idea to offer these types of odds as well. This feature allows you to cater to non-American audiences. All your bettors will need to do is click a button to toggle how the odds appear.
Of course, +200 odds will look different in fractional and decimal sports betting systems. Here’s a quick guide on how to read these odds:
Fractional Odds
Fractional odds are most commonly seen in the United Kingdom. In the U.S., you’ll only see them if you’re offering horse racing bets.
In fractional odds, +200 would be equal to 2/1. The first number (2) represents the potential payout from winning a bet. The second number (1) represents the amount someone would wager on this bet.
The good thing about fractional odds is that they show the probability of winning. The larger the second number is, the less likely the event is to occur. For 2/1 odds, it’s easy to see there’s a 33.33% chance of the bet winning.
Decimal Odds
As the name implies, decimal odds involve using decimal numbers. You’ll see these odds all over Europe, as well as in Canada and Australia.
Decimal odds represent the potential payout, including the initial wager. In this system, +200 odds would be 3.00. With these odds, a winning bet of $100 will result in a total payout of $300.
Decimal odds also indicate how likely an event is to occur. If the odds are high, the event is unlikely to happen and will bring back a high payout.
Calculating +200 Odds
Reading betting odds can vary based on the sport. For this article, we’ll focus on the four major American leagues: the NFL, NBA, NHL, and MLB.
NFL
In the NFL, moneyline odds can vary wildly depending on team strength. The odds of a big favorite winning will often go down to as much as -700. As such, a team having +200 odds indicates they’re a slight underdog.
Since moneyline odds can vary so much, most NFL bettors bet on point spreads. The goal of point spreads is to make betting as even as possible. The most common spread is +/- 110.
NBA
Betting-wise, the NBA is very similar to the NFL. As far as probability and odds go, it makes more sense to bet on the spread. One small difference is that the NBA will often have + odds for underdogs as well.
MLB
The MLB has run line odds, which are similar to point spreads in concept. The run line is a handicap applied to the favorite, and it’s usually set at 1.5. This means the favored team must win by at least two runs to cover the run line.
Since the run line is relatively consistent at 1.5, MLB odds will vary depending on team strength. Here, a team that has +200 odds to win is usually a huge underdog.
NHL
The NHL is a lot like the MLB, except the run line is known as the puck line. If a team has +200 odds, they’re likely a bottom-feeder playing a contender.
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Betting Odds and You
So, what does +200 odds mean? It means a team is unlikely to win that game, but there’s still some chance of it happening. As a bookie, knowing when to set these odds can make a big difference in your profits.
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