Betting odds are just a way of showing two things: how much a bet pays, and how likely the outcome is. The numbers look confusing at first, but once you can read the three common formats, every price tells you the same story.
American odds (the plus and minus)
American odds use a plus or minus sign. A negative number like -150 is the favorite and shows how much you must risk to win $100, so -150 means risk $150 to win $100. A positive number like +130 is the underdog and shows how much you win on a $100 bet, so +130 means a $100 bet wins $130. The bigger the minus, the heavier the favorite; the bigger the plus, the longer the shot.
Decimal odds
Decimal odds show your total return per $1 staked, including your stake back. 1.91 means a $1 bet returns $1.91. Decimal is the easiest format for comparing prices, because a bigger number always means a bigger payout. Our odds converter turns any American price into decimal and back instantly.
Fractional odds
Fractional odds, like 10/11 or 3/2, show profit relative to stake. 3/2 means you win $3 for every $2 risked. They are most common in horse racing and in the UK, but they describe the same thing as the other two formats.
The most important number: implied probability
Every price contains an implied probability, which is the win rate the bet needs just to break even. -150 implies about 60 percent. +130 implies about 43 percent. If you think the real chance is higher than the implied number, you have found value. Our implied probability calculator does the conversion for any odds.
The hidden number: the vig
Here is the catch. Add up the implied probabilities on both sides of a normal sportsbook line and you get more than 100 percent. That extra slice is the vig, the margin the house builds into the numbers. It is why the odds never quite reflect the true odds. On BettorEdge you bet against other people at a market price with no built-in vig, so the numbers are fairer and you keep more of every win.
Read the line, then beat it.
Once you can read a price you can spot a bad one. BettorEdge shows real peer-to-peer odds, and they are often better than the book you would get stuck with.