What Does a Plus (+) or Minus (-) Sign Mean in Sports Betting?

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Learn what it means when odds are positive or negative
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The world of sports betting is full of probabilities and special terms and notation. The American betting system uses pluses and minuses to note whether a team is favored, or if they’re an underdog. Knowing how to read these odds is key to making good bets. We’ll tell you everything you need to know, from what a “+” or “-” means, to understanding betting systems, to how sportsbooks set their odds, and more.

What do plus and minus mean in betting?

A plus sign (+) means a team is an underdog and not favored to win, and so a bet on that team will have a higher payout. A minus sign (-) means a team is favored to win, and so will have a lower payout when you bet on them.

Section 1 of 9:

“+” Meaning in Betting

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    When you see a plus sign (+) next to the name of a sports team or an individual player, it means that the sportsbook, or the organization running the betting lines, believes that that team is the underdog, and has a lower probability of winning. This means you’ll make more money if you bet on them and they win. [1]
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Section 2 of 9:

“-” Meaning in Betting

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    A minus or negative sign (-) next to a sports team or player on a betting line means that that team is expected to win. If you bet on them and they do win, you won’t make as much money (but you’ll still make some). [2]
Section 3 of 9:

Reading and Calculating American Betting Odds

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    For example, if you see a moneyline bet (which is simply a bet on whether or not a side will win) of -110, which is fairly common, you’d have to wager $110 dollars in order to win $100. This is because they’re the favored (-) team, so they have better chances, and more people are betting on them, which means a lower payout. [3]
    • Of course, you can bet however much money you want, but $100 is the standard by which bets are calculated and displayed.
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    For example, if you read a moneyline odds of +200 and you wager $100, you’ll earn a total of $300, since you win your initial bet back , plus the $200 indicated by the probability. [4]
    • Your potential earnings are much better on a positive odds bet, since the odds are lower and fewer people are also betting that way.
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    A “point spread” is like a handicap that ensures an uneven matchup still has a fairly equal chance to pay out in either direction. Spreads also use pluses and minuses, and when you see them, they indicate by how much a team must win or lose by in order for a bet to pay out. [5]
    • A team with a minus (-) in their spread is the favorite, and they’ll have to win by at least the specified number. For example, if a favorite team with a spread of +5 only wins by 3, their bets will not pay out.
    • A team with a plus (+) in the spread is the underdog, and they’ll have to either win or lose by less than the spread to win the bet. For example, if an underdog with a spread of -2 loses the game by 1 point, their bets will still pay out.
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Section 4 of 9:

How are betting odds determined by sportsbooks?

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    Sportsbooks (the organizations that host bets) look at a team’s record, as well as the other side’s record, to calculate their bets—this is the implied probability . Then, they factor in the existing bets to adjust for the probability of your own bet winning. [6]
    • If you bet on a favored team (+) that already has a lot of bets, your chances are good, but your payout is small, since the bets are divided among many bettors.
    • Each sportsbook calculates their own bets with their own (often secret) formulas and speculations, so odds often look different from book to book.
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    The “vigorish” or “vig” (a.k.a. the “juice”) is the amount of money a sportsbook charges for placing a single wager. The vig is how a sportsbook makes money, even when paying out high sums. This makes it so that you often have to wager more money than you expect to gain in order to make a profit on a bet. [7]
    • For example, normally you might expect to win $20 if you successfully bet $10 on a coin toss—earning back your bet, plus the other bettor’s bet. With a vig, though, if you wanted to win $20, you’d often have to bet $11 to earn back $9 for a total winnings of $20.
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Section 5 of 9:

Betting on Plus-Minus Odds

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    There are a number of online betting sites, like DraftKings , Bovada , or Yahoo! Sportsbook . Register for one of these sites using your email address. [8] They may ask for additional information like your credit card or bank account numbers, social security number, and birth date.
    • Before you sign up, make sure sports betting is legal in your region. Most sites will tell you if it’s legal when you input your location when you sign up.
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    Use the menus on the site to navigate to your preferred sport, then browse the list of upcoming games that are open for bets. [9] Once you find a game you’re interested in, click on it to select it.
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    Use the site’s interface to select your preferred team, and how much you want to bet on them. Remember: favorite teams will have lower payouts, while underdogs will have higher payouts. No matter who you choose, they have to win for you to get a payout! [10]
    • The most common bets are win/lose moneyline bets, like those described in this article, but there are many other ways to bet. If a website offers other betting types, it’ll often explain the rules and conditions.
    • To start, make smaller bets, until you get a feel for the process and your luck.
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    Half the fun of sports betting is watching the game! Tune in to the event and follow along. Most sites will automatically pay out if you win, or withdraw money if you lose. [11] They may ask for the money up-front when you make the bet, but this isn’t always the case.
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Section 6 of 9:

Plus & Minus Odds in Common Sports

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    With these leagues, betting is fairly straightforward, with the moneyline acting as the primary competition—whether or not a team loses, sometimes balanced with a point spread. It’s common to see odds of +/- 110 here. [12]
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    Things look a bit different in baseball, since points consist of runs and aren’t as numerous. Here, the spread and odds will often be noted with the label “Run Line,” and the spread will sometimes have half runs. [13]
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    Similar to the MLB, hockey has a different odds label, “Puck Line,” with common half-point spreads. [14]
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    Since golf features many individual players all competing for the top spot, you’ll be betting on an “outright winner moneyline.” Here, odds often look much different from other sports, with numbers in the thousands, but the principles remain the same. [15]
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    UFC odds are much more volatile, since a match can be decided with a single punch. There’s still a moneyline, but it’s common for odds to be much further apart. [16]
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Section 7 of 9:

Understanding Decimal Odds

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    This is the most straightforward system, and shows how much money to the dollar you’d make on your bet. A favored team has a decimal below 1.00, and an underdog has a decimal above 1.00. Find your potential winnings by multiplying your bet by the decimal, then adding back your initial bet. [17]
    • For example, if you bet $100 on a favored team with 0.8 odds, you’d make $80, plus $100, for a total of $180.
    • This system is widely used outside the US, and especially used in Europe.
Section 8 of 9:

Understanding Fractional Odds

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    Fractional odds are fairly straightforward. A team with a better chance of winning will have a lower numerator (first or top number) than denominator (second or lower number), and a team with a lower chance will have a higher numerator than denominator. Find your potential payout by multiplying your bet by the numerator, dividing it by the denominator, then adding back your initial bet. [18]
    • For example, if you bet $200 on an underdog team with 5-4 odds, find your payout with the following equation: (200 * 5) / 4 = 250, + 200 = $400.
    • Fractional odds are mostly used outside the US, and are common in horse racing.
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Section 9 of 9:

Other Common Betting Terms

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    A chalk is a favored team that’s expected to win in a given matchup. [19]
    • Example: “He prefers to play it safe, so he only bets on chalks.”
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    This is when the odds are even, at 50-50, and so however much money you bet is also how much additional money you’ll win. [20]
    • Example: “There’s even money on this NFL game. Anyone could take it.”
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    Hedging is when you bet against your original bet. Bettors sometimes do this to protect themselves from big losses if the odds are against their original bet. [21]
    • Example: “Looks like they’re gonna lose. Good thing I hedged my bet.”
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    A pick ‘em is a game that has no clear underdog or favorite. These games have no spread, but may still have unequal odds, depending on the sportsbook’s outlook. [22]
    • Example: “Looking at a real pick ‘em. I don’t know who to pick!”
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      References

      1. ↑ https://www.nytimes.com/athletic/2497657/2022/01/25/understanding-sports-betting-odds-and-how-to-read-them/
      2. ↑ https://www.lines.com/guides/how-to-understand-betting-odds/1260
      3. ↑ https://www.nytimes.com/athletic/2497657/2022/01/25/understanding-sports-betting-odds-and-how-to-read-them/
      4. ↑ https://www.lines.com/guides/how-to-understand-betting-odds/1260
      5. ↑ https://www.lines.com/guides/spead-betting-guide/1259
      6. ↑ https://www.rotowire.com/betting/faq/how-are-sports-betting-odds-calculated-4d934a73
      7. ↑ https://www.lines.com/guides/how-to-understand-betting-odds/1260
      8. ↑ https://www.sbo.net/strategy/how-to-win/
      9. ↑ https://sports.yahoo.com/sportsbook/
      1. ↑ https://www.sbo.net/strategy/how-to-win/
      2. ↑ https://www.sbo.net/strategy/how-to-win/
      3. ↑ https://www.lines.com/guides/how-to-understand-betting-odds/1260
      4. ↑ https://www.cbssports.com/betting/guides/mlb/
      5. ↑ https://www.nhltips.ca/how-to-read-betting-lines-in-hockey/
      6. ↑ https://www.pgatour.com/article/news/betting-dfs/2023/12/18/golf-betting-101-understanding-fractional-decimal-american-odds-markets-props-live-bets-matchups
      7. ↑ https://www.legalsportsreport.com/sports-betting/how-to-bet-mma/
      8. ↑ https://www.cbssports.com/betting/guides/odds/
      9. ↑ https://www.nytimes.com/athletic/2497657/2022/01/25/understanding-sports-betting-odds-and-how-to-read-them/
      10. ↑ https://www.espn.com/chalk/story/_/id/11457015/betting-glossary-common-betting-terms
      11. ↑ https://www.moneydigest.com/1603318/even-money-sports-betting-how-does-it-work/
      12. ↑ https://www.espn.com/chalk/story/_/id/11457015/betting-glossary-common-betting-terms
      13. ↑ https://www.nytimes.com/athletic/2550084/2022/01/27/what-does-pickem-mean-in-sports-betting/

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