American odds explained: what +150 and -200 mean
By ProbaPredict Data Desk · Last reviewed
American odds show profit relative to 100. A plus number such as +150 is what a $100 bet wins in profit, so +150 pays $150 plus your stake. A minus number such as -200 is what you must bet to win $100. Plus odds mark the underdog, minus odds the favorite, and both convert directly to implied probability.
How do plus odds work?
A plus sign means the outcome is the underdog. The number tells you the profit on a $100 bet. +150 wins $150; +300 wins $300. Your stake comes back on top. On a $20 bet at +150, profit is 20 × 150 ÷ 100 = $30, and the total payout is $50.
How do minus odds work?
A minus sign means the favorite. The number is the stake needed to win $100. At -200 you bet $200 to win $100; at -125 you bet $125 to win $100. On a $50 bet at -200, profit is 50 × 100 ÷ 200 = $25, and the payout is $75.
What does +100 mean?
+100 (sometimes shown as "EVEN") means you win the same as you stake. It is decimal 2.00, fractional 1/1 and an implied probability of exactly 50%.
How do you convert American odds?
- Plus to decimal: 1 + (odds ÷ 100). +150 → 2.50.
- Minus to decimal: 1 + (100 ÷ |odds|). -200 → 1.50.
- Plus to probability: 100 ÷ (odds + 100). +150 → 40.0%.
- Minus to probability: |odds| ÷ (|odds| + 100). -200 → 66.7%.
The odds converter does all four at once and also shows the fractional price used by UK bookmakers.
Worked example: a soccer moneyline
A sportsbook lists a three-way moneyline for a European match: home +120, draw +240, away +230. Implied probabilities: 100 ÷ 220 = 45.5%, 100 ÷ 340 = 29.4% and 100 ÷ 330 = 30.3%. They add up to 105.2%, so the vig is 5.2%. Remove it proportionally and the fair chances are 43.2%, 28.0% and 28.8%.
Our model might give that match home 46%, draw 27%, away 27%. Fair odds at 46% are decimal 2.17, or about +117 in American odds. The sportsbook's +120 is a fraction higher than our fair price. That says the price is above our estimate; the home team still fails to win in more than half of such matches.
How big is the vig in soccer?
The table shows the average margin (vig) built into market closing odds for the leagues we cover, from 17,375 matches. US sportsbooks' own soccer prices can carry more.
| League | Matches | 1X2 margin | Over/Under 2.5 margin |
|---|---|---|---|
| Premier League | 1,950 | 4.4% | 4.9% |
| Bundesliga | 1,566 | 4.8% | 5.2% |
| La Liga | 1,969 | 4.8% | 5.2% |
| Serie A | 1,950 | 4.9% | 5.2% |
| Ligue 1 | 1,723 | 5.0% | 5.3% |
| Championship | 2,855 | 5.5% | 5.6% |
| Eredivisie | 1,593 | 5.7% | 6.1% |
| Primeira Liga | 1,592 | 6.2% | 6.0% |
| Brasileirão Série A | 2,177 | 6.3% | not in source |
Source: ProbaPredict analysis of 17,375 matches, updated Fri, 2 Oct 2026. Market-average closing odds from football-data.co.uk. Margin = sum of implied probabilities − 100%.
Soccer moneylines vs two-way lines
Soccer has a draw, so the standard soccer moneyline is three-way. Some sportsbooks also offer a two-way line where the draw is removed, which settles like draw no bet (a push on a tie). Check which one you are looking at.
UK and US terminology
US: "moneyline", "favorite", "underdog", "vig", "payout". UK: "match odds", "favourite", "outsider", "margin" or "overround", "returns". A US "parlay" is a UK "accumulator".
Common mistakes with American odds
- Reading -200 as "win 200". It means stake 200 to win 100.
- Forgetting the draw. A soccer moneyline favorite at -150 still fails to win if the game is tied.
- Comparing prices across formats by eye. Convert to probability first.
- Ignoring the vig. -110 on both sides means you need to win 52.4% just to break even.
What do American odds look like for soccer totals?
Totals usually sit close to even, so you'll often see prices such as -120 on the Over and +100 on the Under, or -110 on both. Convert each side to implied probability (54.5% and 50.0% in the first case) and the total above 100% is the vig. Our Over/Under 1.5, 2.5 and 3.5 goals pages show our probability and fair odds for every fixture, and the odds converter turns those fair odds into American format, so you can line them up against a sportsbook's total before deciding anything.
How do you compare American odds across sportsbooks?
Convert each price to implied probability, or to decimal odds, before comparing. Between two plus prices, the bigger number pays more: +130 beats +120. Between two minus prices, the number closer to zero pays more: -105 beats -115. Comparing a plus price with a minus price by eye is error-prone, which is why converting first helps.
For a whole market, add up the implied probabilities on each sportsbook. The book with the lower total is charging less vig on that market. Our implied probability calculator accepts American odds directly and shows the vig and the no-vig fair line for every outcome.
Frequently asked questions
- What does +150 mean?
- A $100 bet at +150 wins $150 profit and returns $250 in total. It equals decimal 2.50, fractional 6/4 and an implied probability of 40%.
- What does -200 mean?
- You must bet $200 to win $100 profit, returning $300 in total. It equals decimal 1.50, fractional 1/2 and an implied probability of 66.7%.
- How do I convert American odds to probability?
- For plus odds: 100 ÷ (odds + 100). For minus odds: |odds| ÷ (|odds| + 100). So +150 is 40% and -200 is 66.7%.
- What does -110 mean in soccer totals?
- Bet $110 to win $100. It implies 52.4%. When both sides of a total are -110, the two add up to 104.8%, and the extra 4.8% is the sportsbook's vig.
Related pages
- Odds converter (American to decimal)
- Soccer parlay calculator
- What a soccer parlay is
- How to calculate implied probability
- How Do Betting Odds Work? Decimal, Fractional and American
- Fractional Odds Explained: What 5/2 and 10/11 Mean
- How to Calculate Implied Probability From Odds
- What Is a Bookmaker's Margin (Overround or Vig)?
- All football betting guides
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