Plus Minus Odds Explained: How American Odds Work (with Peso Examples)

How-To · Updated 23 Oct 2026 · By the BetGabay Editorial Team

You're reading NBA tips and see "Lakers -180, Celtics +155." Or a boxing preview says a fighter is "+300." These are American odds, also called moneyline or plus/minus odds. Most sportsbooks Filipinos use display decimal odds, but American odds are everywhere in US sports content, so it pays to read them fluently.

This guide explains exactly how plus and minus odds work, with peso examples and conversions. For other formats, see betting odds explained.

Kaugnay na gabay: Betting Odds Explained: A Clear Guide for Filipinos

The basic rule

• Minus (-) odds show how much you must bet to win ₱100 profit. They mark the favourite.
• Plus (+) odds show how much profit you win on a ₱100 bet. They mark the underdog.

The ₱100 is just a reference. You can bet any amount; the ratio stays the same.

Minus odds in detail

At -150, you bet ₱150 to win ₱100 profit. Your total return is ₱250.

Formula: profit = stake × (100 ÷ odds). For ₱1,000 at -150: 1,000 × (100 ÷ 150) = ₱667.

Plus odds in detail

At +200, a ₱100 bet wins ₱200 profit. Your total return is ₱300.

Formula: profit = stake × (odds ÷ 100). For ₱500 at +240: 500 × 2.4 = ₱1,200.

What about +100 and -100?

Both mean even money: bet ₱100 to win ₱100. You'll mostly see +100. It's the same as 2.00 in decimal and 1/1 ("evens") in fractional.

Why are both sides sometimes minus?

In spread and totals markets, you'll often see -110 on both sides. That's because the line itself (like -5.5 points) has already balanced the teams, and the -110 just reflects the bookmaker's cut. On a fair coin flip with no margin, both sides would be +100. At -110 each, the book keeps roughly 4.5%.

Converting American odds to decimal

• Plus odds: (odds ÷ 100) + 1. Example: +150 → 2.50.
• Minus odds: (100 ÷ odds) + 1. Example: -150 → 1.67.

And back:

• Decimal 2.00 or higher: (decimal - 1) × 100 = plus odds. 3.40 → +240.
• Decimal below 2.00: -100 ÷ (decimal - 1) = minus odds. 1.40 → -250.

Conversion table

For the full probability maths, read plus minus odds to probability. For decimal specifics, see decimal odds explained.

Implied probability in one line

• Minus: odds ÷ (odds + 100). -150 → 150 ÷ 250 = 60%.
• Plus: 100 ÷ (odds + 100). +200 → 100 ÷ 300 = 33.3%.

Where you'll see plus/minus odds

• NBA: moneylines, spreads at -110, player props.
• Boxing and MMA: fight winner odds like -400 / +300. See Manny Pacquiao betting odds history for real examples.
• American football and baseball: almost exclusively American odds in US media.
• Futures: championship odds like +800.

Peso examples from real-style lines

NBA moneyline

Team A -180, Team B +155. ₱900 on Team A wins ₱500 profit (900 × 100 ÷ 180). ₱400 on Team B wins ₱620 profit (400 × 1.55).

Boxing

Fighter X -350, Fighter Y +275. ₱700 on X wins ₱200. ₱200 on Y wins ₱550.

Spread at -110

₱1,100 on Team C -4.5 at -110 wins ₱1,000 profit if Team C covers.

Championship future

₱100 on a team at +1200 to win the title returns ₱1,300 if they do.

Line movement in American odds

When a favourite moves from -150 to -180, it's become a stronger favourite: you now risk more to win the same. When an underdog moves from +130 to +110, it's become less of an underdog. Moves usually follow injury news or heavy betting on one side. If you like a side early, betting before the move can give you a better price.

Why Americans use plus and minus odds

American odds grew out of the US betting market, where the standard bet size was often thought of as 100 dollars. Asking "how much do I need to risk to win 100?" for favourites and "how much do I win if I risk 100?" for underdogs made quick sense at a betting window. The format stuck, and today US sportsbooks, broadcasters and statistics sites all use it. Because so much basketball content Filipinos read comes from American sources, understanding this format helps you follow analysis, injury reports and betting previews without confusion, even if your own sportsbook shows decimal odds.

Mental maths shortcuts

You don't need a calculator for most American odds. A few shortcuts help:

• -200 means you win half your stake. ₱600 wins ₱300.
• -150 means you win two-thirds of your stake. ₱300 wins ₱200.
• -125 means you win four-fifths. ₱500 wins ₱400.
• +150 means you win one and a half times your stake. ₱200 wins ₱300.
• +250 means two and a half times. ₱100 wins ₱250.

With a little practice, you'll translate American lines to pesos as quickly as decimal ones.

Parlays with American odds

American odds can't be multiplied directly. To build a parlay, convert each leg to decimal, multiply, then convert back if needed. Example: Team A -150 (1.67), Team B +120 (2.20), Team C -110 (1.91). Decimal parlay: 1.67 × 2.20 × 1.91 = 7.02. That's about +602 in American odds. A ₱100 bet would return roughly ₱702. This is why many bettors prefer decimal odds for parlays: the maths is simpler. See ano ang parlay for more on how parlays work and why they're harder to win than they look.

Player props and futures

Props, such as a player scoring over 25.5 points, are almost always shown in American odds on US-facing sites, often around -115 on one side and -105 on the other. Futures, like a team to win the championship, show large plus numbers such as +450 or +2500. With futures, remember that your money is tied up for months, and the bookmaker's margin across all teams is usually much larger than on single games. A quick check: convert every team's futures price to implied probability and add them up. Totals well above 100 percent show how much margin is built in.

Comparing prices across formats

Sometimes you'll see the same bet quoted in different formats on different sites. To compare, convert everything to decimal. For example, one book shows Team A at -125, another at 1.83. -125 equals 1.80 in decimal, so the second book offers the better price. Small differences like this add up over hundreds of bets. A difference of just 0.05 in decimal odds on every bet can decide whether a careful bettor ends a season in profit or not.

Hedging example using American odds

Say you bet ₱500 on a team at +400 to win a tournament months ago. They reach the final, where they're now -120 against an opponent at +100. If they win, you'd receive ₱2,500 total. To guarantee some profit, you could bet on the opponent at +100. Betting ₱1,000 on the opponent means: if your team wins, you get ₱2,500 minus the lost ₱1,000; if the opponent wins, you get ₱2,000 back from that bet while losing the original ₱500. Either way you finish ahead. Hedging reduces risk at the cost of maximum profit, and it's easier to plan when you understand how American odds translate into returns.

Fractional odds: the third format

Fractional odds, common in the UK and in horse racing, show profit relative to stake. 5/1 means you win ₱5 for every ₱1 bet; 2/5 means you win ₱2 for every ₱5 bet. They map neatly to American odds: 5/1 is +500, and 2/5 is -250. You'll occasionally see fractional odds in boxing previews and racing coverage, so it's handy to recognise them.

Reading a full American odds board

A typical NBA board on a US-style site shows three columns for each game: spread, moneyline and total. For example: Team A -6.5 (-110), -250, O 221.5 (-110); Team B +6.5 (-110), +205, U 221.5 (-110). Read it left to right. The spread says Team A must win by 7 or more. The moneyline says Team A is a strong favourite to win outright, with roughly a 71 percent implied chance. The total shows the expected combined score. Notice how the moneyline gap (-250 vs +205) isn't symmetrical; the difference is the bookmaker's margin. Once you can read one row like this, you can read any board.

What "juice" means for your break-even rate

At -110, you need to win 52.4 percent of bets to break even. At -120, it rises to 54.5 percent. At -105, it's 51.2 percent. Those few points matter. A bettor who wins 53 percent of spread bets profits at -110 but loses money at -120. That's why experienced bettors pay close attention to the price, not just the pick, and why reduced-juice promotions can be worth a look.

Plus/minus odds and casino-style thinking

Some new bettors treat big plus numbers like lottery tickets: small stake, dream payout. That's fine as entertainment, but remember what the number means. +2000 implies about a 4.8 percent chance before margin. If the true chance is lower, as is often the case for long shots that attract hopeful money, the bet loses value over time. Long shots can win, and when they do it's memorable, but a sensible budget treats them as the smallest part of your betting, not the core.

Common mistakes

1. Thinking -200 means you win ₱200. It means you risk ₱200 to win ₱100.
2. Forgetting that returns include your stake when converting to decimal.
3. Treating heavy favourites as safe. -500 still loses about 1 in 6 times in fair terms.
4. Mixing up formats when your sportsbook shows decimal and your tipster quotes American.
5. Ignoring the vig that's built into both sides.

Taglish recap

Sa American odds, ang minus ay paborito at ang plus ay underdog. Sa -150, kailangang tumaya ng ₱150 para kumita ng ₱100. Sa +200, ang ₱100 na taya ay kikita ng ₱200. Para gawing decimal: sa plus, hatiin sa 100 at dagdagan ng 1; sa minus, hatiin ang 100 sa odds at dagdagan ng 1. Ang -110 sa magkabilang panig ay normal sa spread at totals; iyon ang tubo ng bookie.

Responsible betting

Understanding odds helps you avoid bad prices, but it doesn't remove risk. Bet amounts you can afford to lose and use deposit limits. If betting stops being fun, our responsible gambling page lists free help.