If you are new to sports betting, the plus and minus signs are confusing because they show up in two places: in the odds and in the point spread. They mean different things in each. Here is the plain-English version.
Plus and minus in the odds
- Minus (−) = favorite. The number is how much you bet to win $100. −150: bet $150 to win $100.
- Plus (+) = underdog. The number is how much you win on a $100 bet. +150: bet $100 to win $150.
Simple memory trick: minus means you pay more, plus means you get more.
| Odds | You bet | You win | Implied chance |
|---|---|---|---|
| −250 | $250 | $100 | 71.4% |
| −150 | $150 | $100 | 60.0% |
| +100 | $100 | $100 | 50.0% |
| +150 | $100 | $150 | 40.0% |
| +250 | $100 | $250 | 28.6% |
You do not have to bet $100. At −150, a $30 bet wins $20. At +150, a $30 bet wins $45. (American odds explained.)
Plus and minus in the spread
In a point spread, the sign shows points, not money.
- Bills −4.5: the Bills must win by 5 or more.
- Jets +4.5: the Jets win the bet if they win or lose by 4 or fewer.
Each side of the spread also has its own odds, usually −110. So a full line reads Bills −4.5 (−110): minus 4.5 points, at minus 110 odds. (Point spread betting.)
When both sides are minus
On a spread or total, you will often see −110 on both sides, or −105 / −115. Both minus signs do not mean both teams are favorites. It means the book sees the bet as close to 50/50 and is charging its margin on both sides. (What does −110 mean?.)
When both sides are plus
In markets with more than two outcomes (a soccer match with a draw, a golf tournament, an MVP race), every option can be plus money because no single outcome is more likely than not.
Which is the better bet, plus or minus?
Neither. Plus-money bets win less often but pay more; minus-money bets win more often but pay less. A bet is good when its price beats its true chance of winning, which you can check by comparing the implied chance to a fair line. (Implied probability · Fair odds.)
Frequently asked questions
What does +200 mean?
A $100 bet wins $200 in profit (you get $300 back including your stake).
What does −200 mean?
You must bet $200 to win $100 in profit.
Does minus mean the favorite?
In moneyline odds, yes. In spreads, the minus sign shows the team giving points, which is the favorite. The odds attached to each spread side are a separate price.