Implied probability describes the percent chance that a selection has of winning their matchup. How to calculate implied probability with American odds (Negative vs Positive odds) In a -120 bet, you can stake $12 to win back $10 and walk away with your initial wager plus your winnings-a total of $22. For example, in a +120 bet, you can wager $10 to win back $12-for a total of $22. Though American bets are based on $100 increments, you aren't always expected to bet $100 on positive odds or bet to win $100 on negative odds. As with negative odds, you also win back your initial stake-which means you ultimately walk away with a total of $220 if you win this bet. For instance, odds that read +120 indicate you'll win $120 if you stake $100. The plus sign preceding the odds expresses how much you'll win with a $100 stake. So, you'd walk away with $220 total in the event you were to win this example wager. In every case you win, the bookmaker also returns your initial stake. For example, odds of -120 mean that placing a bet of $120 wins $100. When expressing odds with a minus sign, this shows the amount you have to wager in order to win back $100. How to calculate winnings with American odds (Negative vs Positive odds) When each participant shows a plus or minus sign preceding the odds, such as +150 or -150, this indicates the more favored player or team versus the less favored, with the minus sign indicating the favorable bet (the bet with the higher probability of success - the favorite) and the plus sign depicting the unfavorable one (the bet with the lower probability of success - the underdog). For example, a bet that would pay $200 on a $100 bet pays $20 on a $10 bet. Though this system bases odds around $100, larger or smaller bets scale easily in this system. American odds center bets around $100, with the favored outcome listed differently than the underdog. While not as simple to read as decimal or fractional odds at first, American gambling odds become fairly easy to understand once you know how to read them.

Understanding sports betting odds