How to Read American Odds with Examples

Kate Marshal

Upd 8 days ago

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American odds — also called Moneyline — are the style of odds used in the U.S. They come with either a + or – sign and are based on $100.

Here’s how to read them:

“-140” means you need to bet $140 to win $100 profit.
“+290” means a $100 bet would win you $290 profit.

Negative odds show how much you need to bet to win $100, while positive odds show how much profit you make from a $100 bet.

Super simple:

Positive odds (+) = underdog → you win more money with a smaller bet.
Negative odds (–) = favorite → you have to bet more to win a smaller amount.

In short, American odds use $100 as a reference point so you can instantly see how risky or rewarding a bet is.

Example: Germany vs Denmark

Imagine Germany and Denmark are about to face off at the Euros. The bookmakers set the odds based on how likely each team is to win. Germany, playing at home, is the favorite, while Denmark is seen as the underdog.

Germany’s Odds (-165): The “-165” signifies that Germany is expected to win.

To profit $100 from a Germany victory, you would need to bet $165. If Germany wins, you get your $165 back plus $100 in profit, totaling a $265 payout.

Denmark’s Odds (+450): The “+450” indicates Denmark is less likely to win.

However, a $100 bet on Denmark could bring in $450 in profit if they manage an upset. This means a total payout of $550, combining your initial stake and profit.

Team	Odds	Bet Amount	Potential Profit	Total Payout
Germany	-165	$165	$100	$265
Denmark	+450	$100	$450	$550

Converting Odds into Winning Percentages

When you turn betting odds into percentages, you’re basically figuring out how often you’d need to win at those odds just to break even. This helps you understand whether a bet is actually worth it.

For Favorites (negative odds)

Example: -140. To break even, you do this:

140 / (140 + 100) = 0.5833 → 58.33%

So you’d need to win that bet about 58% of the time just to not lose money in the long run.

For Underdogs (positive odds)

Example: +360 (which pays 460 total: your $100 stake + $360 profit). You calculate:

100 / 460 = 0.2174 → 21.74%

So if you think the underdog has more than a 22% chance to win, the bet might actually be good value.

Common Mistakes to Avoid

Common mistakes when reading American odds:

Ignoring the sign (+/–): Many beginners confuse underdogs with favorites.
Forgetting the stake: Profit and payout aren’t the same.
Misreading implied probability: Not understanding how often you need to win.
Comparing formats directly: Don’t mix American with decimal odds without conversion.

Conclusion

American odds might look a bit unfamiliar at first, but they’re actually easy once you get how the “+” and “–” signs work. No matter if you’re betting on football, basketball, or baseball, understanding Moneyline odds helps you spot better value and make smarter bets.

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