For example, if the odds of a particular team winning a game are +150, a bettor would win $150 in profit for a $100 wager. Positive odds indicate the potential profit that can be made on a $100 wager, while negative odds indicate how much needs to be wagered to win $100. One common format for odds in the United States is American odds, which are expressed as a positive or negative number. Betting odds are a way for sportsbooks and bookmakers to communicate the likelihood of a particular event occurring.
What is Implied Probability in Sports Betting?
