What do Odds of +800 & +200 Mean in Gambling?
- Everyone seems to be betting on sports these days, making it seem like the new norm.
- If someone new to sportsbooks tries to place a bet, they may find themselves scratching their heads in confusion.
- This isn’t as easy as placing a bet on a simple number or getting cards to reach a certain number. This takes smarts, analytics, and of course, a little bit of dumb luck.
- The first thing a newbie might be lost on is what the odds of +800 and -200 mean.
*+800 and -200 are just examples being used for this. There is no special significance with these odds in particular.
No matter what sportsbook or betting site you use, numbers like +800 and -200 are something you are going to see quite often. This refers to the money that one will win depending on how much money they bet.
What do Odds of +800 mean?
Anytime a number has a “+” in front of it, this indicates two different things about the bet:
either this is the underdog of the match or it is a very difficult bet to win.
Every bet is based on a $100 wager.
- In this case, a $100 bet on odds of +800 will payout $800.
- A bet of $100 on odds of +550 pays $550.
- A bet of $10 on odds of +200 pays out $20, and so on.
The larger the number is, the more difficult it will obviously be to win the bet.
Granted, it isn’t impossible and a winning bet could give you a nice payday.
These types of odds can be very attractive at first glance, but don’t get suckered in.
It is still important to do a bit of research behind the match unless you are one of those bettors who just go on a whim and end up winning hundreds of dollars.
There’s nothing wrong with that, just know everyone else is in envy of your luck.
What do Odds of +200 mean?
You know what a “+” stands for, so it should not be too difficult to understand the “-”.
- Odds such as +800 stand for the underdogs or highly difficult bets.
- Odds like -200 refer to betting on the favorite in the match or a fairly predictable or easy bet.
- The larger the number, the bigger the favorite to win the match.
Odds like -200 can get confusing though.
Similar to odds with a “+”, they are based on a bet of $100.
This is where some people get lost and start questioning just how easy sports betting is.
+800 means that you win $800 off of $100.
With -200, you must bet $200 in order to just win $100. Confusing, right?
So why would anybody even bother with these bets where they can only lose money?
Yes, it is true that on odds with “-” there is no way to make a profit.
However, these types of odds are beneficial with parlay bets. (These will be discussed later, don’t worry).
For some people, seeing all of this gibberish in action helps them understand it better.
Here is an example from a real bet from FanDuel Sportsbook.
- Rafeal Nadal -270
- Dominic Thiem +220
The odds for Nadal to win are currently at -270.
He is currently ranked #1 in the Australian Open, making him the clear favorite to win pretty much every match he is in.
Dominic Thiem is ranked #5 in the Australian Open.
The two of them are not too far off in competition and that is why the gap in the money line between them is not very large. While Nadal is the favorite, it is not by a landslide.
Here is an example of a huge difference in the money line:
- Pittsburgh +1050
- 9 Duke -1850
See the gap?
Duke is ranked ninth in the country while Pittsburgh is not ranked at all.
This makes Pitt the clear underdogs.
A bet of $100 pays out $1,050.
For Duke, you would have to bet nearly $2000 just to make $100.
Now that you understand everything this far, here is another curveball.
There are times that a game can have both teams at “-” odds. This means that the two teams are almost evenly matched and it could literally go either way and could even come down to the wire.
In a match with these odds, you can’t make a profit on your winnings.
Here is an example of one:
- CSKA Moscow -110
- BC Khimki -110
The point spread only has BC Khimki as a half-point favorite, so it is no surprise these odds are evenly matched.
*While a match can have two teams with “-” odds, you won’t see a game with two teams with “+” odds. Gambling can’t be that easy, now can it?
Parlays were mentioned earlier when it comes to being able to make money with “-” odds.
A parlay bet is several different bets under one betslip, meaning you place one wager on all of these bets to come true and win.
Even if you have four bets in your parlay that all have “-” odds, you can still end up with “+” odds to bet on in the end.
This is because it becomes a more difficult bet.
You picked four favorites to win but they all have to win, not just one or even just three of them. All four bets have to hit in order to win.
Here is an example to study:
Super Bowl NFL
Kanas City Chiefs -128
Memphis Grizzlies -128
Australian Open Tennis
Rafael Nadal -290
Utah State -1175
Total odds: +363
In picking four favorites to win, you still end up with “+” odds.
Utah State is so favored that it kept the odds pretty low still though.
Again, all four bets need to hit in order to win.
If just the Chiefs lose, the entire bet is void and you lose.
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