How to Read Betting Odds: A Complete Beginner's Guide
Quick Answer
Betting odds represent the probability of an outcome and your potential payout. American odds use + and - symbols: -150 means bet $150 to win $100 (favorite), +200 means bet $100 to win $200 (underdog). Point spreads add/subtract points to equalize matchups. Over/under lines set a total points threshold you bet above or below. Moneylines are straight win/lose bets.
Detailed Explanation
American odds are the most common format in US sportsbooks. Negative numbers (-150, -200) indicate favorites and show how much you need to bet to win $100. Positive numbers (+150, +200) indicate underdogs and show how much you win on a $100 bet. The larger the negative number, the bigger the favorite. The larger the positive number, the bigger the underdog.
Point spreads attempt to equalize matchups. If the Patriots are -7 against the Jets, they need to win by more than 7 points for a spread bet to pay off. If you bet the Jets +7, they can lose by up to 6 points and your bet still wins. Spread bets typically pay -110, meaning you bet $110 to win $100.
Over/under (totals) bets set a combined score for both teams. If the over/under for a game is 47.5 and you bet the over, the combined final score needs to be 48 or higher. These bets are popular because they don't require picking a winner — just whether the game will be high or low scoring.
Moneyline bets are the simplest: pick who wins. No spread, no total. The payout adjusts based on how favored each team is. Heavy favorites pay very little on moneyline bets, while underdogs can pay significantly.
AI prediction tools like those from The 99¢ Community generate win probabilities that you can compare against the implied probability from betting odds. If the AI gives a team a 65% win probability but the odds imply only 55%, that's a value bet. Understanding odds lets you identify when AI predictions find genuine value.
Step-by-Step Guide
- 1
Understand American Odds
Negative numbers show how much to bet to win $100 (favorites). Positive numbers show how much you win on a $100 bet (underdogs).
- 2
Learn Point Spreads
The spread equalizes matchups. Favorites give points (-7), underdogs receive points (+7). Your team must cover the spread to win.
- 3
Know Over/Under Totals
Totals set a combined score threshold. Bet 'over' if you think teams will score more than the number, 'under' if less.
- 4
Calculate Implied Probability
Convert odds to probability: for -150, probability = 150/(150+100) = 60%. Compare this to AI predictions to find value.
- 5
Use AI to Find Value
Compare AI win probabilities against implied odds to identify bets where the AI sees value the market doesn't.
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