Sports Betting 101: What Does the Plus (+) and Minus (-) Mean in Betting?

What do the plus (+) and minus (-) signs mean in sports betting?

In American sports betting, the plus (+) and minus (-) signs are shorthand for an outcome’s odds and potential payout. In simplest terms, the minus sign indicates the favorite, and the plus sign indicates the underdog​

For example, odds of +200 mean a $100 bet could payout $200 in profit, whereas odds of -200 mean you must bet $200 to earn $100 in profit​

In both cases, if you win the bet, you also get your original stake back on top of the profit​

These plus/minus odds are known as money line or American odds, widely used by US sportsbooks like DraftKings, FanDuel, and BetMGM. The system centers around $100 as a base figure for understanding potential winnings​

A bet at positive odds (> +100) will return more than your stake in profit (because the team is an underdog and less likely to win), while a bet at negative odds (< -100) returns less profit than you wagered (because the team is favored and more likely to win).

For instance, a +150 line means you win $150 on a $100 bet, whereas a -150 line means you’d have to wager $150 to win $100. The larger the plus number, the bigger the potential reward and the bigger the underdog. Conversely, a large minus number means a strong favorite with a smaller payout relative to the stake. Understanding these basics is the first step in reading any betting line across sports.

What is a Money Line Bet?

A money line bet is the simplest type of wager in sports betting – you’re just betting on who will win the game or match, straight-up. There’s no point spread involved, so the sportsbook uses plus and minus odds to balance the bets between the favorite and underdog. On a money line, the minus indicates which team or fighter is favored to win, and the number tells you how much you must bet to win $100. The plus indicates the underdog and shows how much you’d win for every $100 bet​.

For example, if the Los Angeles Lakers are -180 on the money line against the New York Knicks, the Lakers are favored – you’d need to bet $180 to win $100. If the Knicks are +160, they are the underdog – a $100 bet on the Knicks would win you $160 if they pull off the upset. U.S. sportsbooks display these odds prominently; as Caesars Sportsbook explains, a minus means “the player lays that amount to win $100,” while a plus means “the player wins that amount for every $100” wagered​

Money line bets are common in sports like baseball, hockey, soccer, and combat sports, but you’ll also see money lines offered for every game in the NBA and NFL as well. In an NHL game, for instance, you might find the Boston Bruins at -150 and the Chicago Blackhawks at +130. If you believe the favored Bruins will win, you accept a smaller payout (bet $150 to win $100). If you think the underdog Blackhawks can win, a $100 bet could net you $130 profit. In soccer, a strong team like Manchester City might be -200 against an underdog team at +500 (with a draw option also listed, often at plus odds too). And in a UFC fight, a dominant champion might be -300 facing a challenger at +250. Money line odds capture the relative strength of competitors and the risk/reward of betting either side.

The key is remembering: minus means favorite (risk more to win less), plus means underdog (risk less to win more)​.

Money line bets are straightforward, which makes them a great starting point for beginners learning to bet on sports outcomes.

What is a Point Spread Bet?

A point spread bet is a wager on the margin of victory in a game, rather than just who wins outright. Point spreads are most commonly used in high-scoring team sports like football and basketball. The sportsbook sets a spread (a number of points) to handicap the favorite and make the bet more even. The favorite will have a minus point spread (meaning they must win by more than that number of points), and the underdog gets a plus point spread (meaning they can lose by up to that number of points or win the game outright and still cover the spread). For example, you might see an NFL line like Kansas City Chiefs -7 vs. Los Angeles Chargers +7. In this case, the Chiefs are favored by 7 points – they need to win by more than 7 for a bet on Chiefs -7 to win. The Chargers are the underdog at +7, meaning a bet on the Chargers wins if they either win the game outright or lose by fewer than 7 points. If the result lands exactly on a 7-point margin, that’s called a push (the bet ties and your stake is returned)​.

Point spread bets are extremely popular in sports betting, especially for NFL and NBA games. The point spread essentially gives the underdog a head start. A spread bet is sometimes written with the spread and a standard odds in parentheses, like Patriots -6.5 (-110) vs Jets +6.5 (-110). The “-110” is the money line odds attached to most point spread bets, meaning you’d bet $110 to win $100 on either side. Sportsbooks like DraftKings and FanDuel usually set spread odds around -110 to give the house a small edge (this is the bookmaker’s vig or commission). It’s important to note that the plus or minus in a point spread does not denote the payout directly (unlike a money line bet), but rather the scoring handicap. The payout for a point spread bet is typically the same for both sides at those standard odds. In other words, whether you bet the favorite -6.5 or the underdog +6.5, a winning $100 bet would profit about $91 (because of the -110 odds). Point spreads level the playing field: you’re effectively betting on how much a team wins or loses by, which makes even a lopsided matchup exciting for bettors.

Underdogs vs Favorites: How do plus and minus odds identify them?

The plus/minus system makes it immediately clear which side is the underdog and which is the favorite in any betting line. Favorites are always indicated by a minus (-) sign before the odds, while underdogs always have a plus (+) sign​.

The reasoning is straightforward: a favorite is more likely to win, so the sportsbook offers a smaller reward for betting on them (hence the negative odds showing you must risk more to win less). The underdog is less likely to win, so the book entices bettors with a bigger potential reward (positive odds showing you win more than you risk). For a practical example, imagine an NBA game where the Golden State Warriors are listed at -250 and the Orlando Magic at +200 on the money line. The Warriors’ minus odds tell you they’re the favored team; the Magic’s plus odds signal they are the underdog. If you only saw “Warriors -250” and “Magic +200” without any labels, you could immediately identify the underdog as the Magic because of the plus sign, and the favorite as the Warriors because of the minus.

This principle applies across all sports and bet types. Even in point spreads, you’ll see the favorite with a minus spread (e.g. -7 points) and the underdog with a plus spread. At US sportsbooks, it’s basically a universal convention: minus means favorite, plus means underdog. According to BetMGM’s betting guides, understanding these symbols is fundamental for bettors – “minus” indicates the favored team and “plus” indicates the underdog in the American odds system​.

One quick tip: sometimes people use the phrase “plus-money” to refer to any bet with positive odds (underdog odds), and “odds-on favorite” for heavy favorites with minus odds. As a bettor, recognizing underdogs vs favorites at a glance helps you weigh the risk and reward. You might decide to back an underdog when you think the odds (and the potential payout) are worth the risk, or stick with a favorite when you have confidence in the stronger team despite the smaller return. Either way, the plus/minus sign is your immediate guide to who is expected to win and who the longshot is in any matchup.

How are payouts calculated from plus and minus odds?

Calculating your winnings from plus and minus odds is easier than it looks. The odds number, combined with the plus or minus, directly tells you the payout relative to a $100 bet. For plus odds (underdogs), the number is the profit you’d make on a $100 bet. For example, at +300 odds, a $100 bet would profit $300, giving a total return of $400 (your $300 winnings plus your $100 stake back). If you bet less or more than $100, the payout scales proportionally. For instance, +300 odds on a $50 bet would pay out $150 profit (because $50 is half of $100, you get half of $300). On a $200 bet at +300, you’d profit $600. The formula for plus odds is: Profit = (Odds / 100) * Stake. So +300 means 3 * your stake in profit. Similarly, +150 would mean 1.5 * stake profit (e.g., $100 bet wins $150; $20 bet wins $30).

For minus odds (favorites), the number after the minus tells you how much you need to bet to win $100 profit. For example, -200 odds means you must bet $200 to win $100 (and you’d get $300 returned: your $200 stake + $100 profit). If you wager $100 at -200, how do we calculate the profit? In this case, the formula is: Profit = (100 / Odds) * Stake (where Odds is the absolute value of the negative odds). So for -200, Profit = (100/200) * $100 = 0.5 * $100 = $50 profit. Indeed, a $100 bet at -200 yields $50 profit (total return $150). At -120 odds, a $100 bet would profit $83.33 (because 100/120 ≈ 0.833). The key is that negative odds will always yield a profit smaller than the stake (since the team is favored). American odds revolve around that $100 benchmark​ – you can think of it as either “how much do I win on $100?” (for plus odds) or “how much do I need to bet to win $100?” (for minus odds). Many online sportsbooks offer automatic bet calculators, but it’s good to understand the math yourself.

According to a BetMGM sports betting glossary, plus odds represent the amount you’d win on a $100 bet, while minus odds represent the amount you’d wager to profit $100​. And remember, your initial bet is returned to you if you win, in addition to the profit. So a winning $100 bet at +250 returns $350 total ($250 winnings + $100 stake). A winning $100 bet at -250 returns $140 total ($40 winnings + $100 stake). Knowing how to calculate payouts helps you compare bets and manage your bankroll wisely before you place that next bet.

NFL and NBA Betting Examples with + and – Odds

Let’s apply these concepts to real sports examples in the NFL and NBA, where both point spread and money line bets are extremely popular. Consider an NFL game example: the New England Patriots -6.5 vs. New York Jets +6.5 (point spread) with both sides at -110 odds. The Patriots are a 6.5-point favorite (minus sign indicates the favorite). If you bet on the Patriots to cover the spread, they must win by 7 or more points for your bet to win. If you bet on the Jets +6.5, the Jets can lose by up to 6 points (or win the game outright) and your bet wins. Because the odds are -110 for both, a $110 bet on either team would net $100 profit if it covers. Now, look at the money line for the same game: Patriots -250 vs Jets +210 (for example). A money line bet on the Patriots at -250 means they are favorites – you’d have to wager $250 to win $100. A bet on the underdog Jets at +210 would win $210 on a $100 bet if the Jets manage to win. In this scenario, the point spread gives the Jets some leeway (losing by less than 7 still wins the point spread bet), whereas the money line bet on the Jets requires them to win the game outright, but offers a higher payout if they do. It’s up to the bettor to decide which option offers better value based on how they expect the game to go.

In the NBA, you’ll see similar listings. For example, the Los Angeles Lakers might be -5.5 favorites against the Chicago Bulls (+5.5 underdogs) on the point spread. If you take the Lakers -5.5, they need to win by 6 or more points. If you take the Bulls +5.5, the Bulls can’t lose by 6 or more. Now for the money line: Lakers -210, Bulls +175 (just as an illustrative example). The Lakers’ minus odds tell us they are favored; a $210 bet on LA would win $100. The Bulls’ +175 means a $100 bet would win $175 if Chicago wins. These plus/minus numbers also imply the likelihood of each outcome – a -210 favorite is expected to win roughly 67% of the time, whereas a +175 underdog might only have around a 36% implied chance. In fact, the larger the gap between a favorite’s minus odds and an underdog’s plus odds, the bigger the perceived difference in team quality or expectations of victory​.

Sportsbooks factor in injuries, matchups, and public betting patterns when setting these lines. As a bettor, you might look at an NBA game and decide: do I take the underdog with the points (spread) for a safer bet, or go for the bigger payout on the money line underdog hoping for an upset? The plus/minus odds on NFL Sundays or NBA nights are the bread-and-butter of sports betting, and knowing how to read them lets you evaluate these betting opportunities at a glance.

MLB and NHL Betting: Understanding the Run Line and Puck Line

In MLB (baseball) and NHL (hockey) betting, you’ll encounter the terms run line and puck line, which are essentially point spreads for those lower-scoring sports. The standard run line or puck line is +1.5 runs/goals for the underdog and -1.5 for the favorite. That means the favored team must win by 2 or more for a run line/puck line bet to win, while the underdog can lose by 1 and still cover. For example, in an MLB game you might see: New York Yankees -1.5 (+120) vs. Boston Red Sox +1.5 (-140). This tells us the Yankees are favored by 1.5 runs; the plus odds (+120) next to -1.5 indicate that if you bet the Yankees to win by 2+, you’d get a higher payout (underdog odds on the run line, since winning by 2 is tougher). Meanwhile, the Red Sox are +1.5 runs at odds -140, meaning Boston can lose by one run and your bet wins, but you must bet $140 to win $100 due to the -140 odds. It might seem a little confusing that the favorite on the run line can sometimes have plus odds – that happens when a team is heavily favored to win outright, so giving 1.5 runs still makes it somewhat challenging (hence a better payout). In essence, the plus and minus in front of the run line number (±1.5) tells you the handicap, and the plus/minus on the money line odds tells you the payout. When betting MLB, you can choose the run line or simply bet the money line. A money line example might be Yankees -200 vs Red Sox +180 (Yankees heavily favored to win). A $200 bet on the Yanks wins $100; a $100 bet on the Sox wins $180 if they upset. Often in baseball, bettors take an underdog +1.5 runs for a bit of safety, at the cost of a lower payout (or lay extra juice if the odds are negative).

In the NHL, the puck line works the same way. A typical hockey matchup might have the Tampa Bay Lightning -1.5 (+150) vs. Detroit Red Wings +1.5 (-170). This means the Lightning need to win by 2 goals or more; if they do, a $100 bet would profit $150 (since +150 odds). The Red Wings can lose by one goal and still cover the +1.5 spread, but you’d have to bet $170 to win $100 at those -170 odds. Money lines are also extremely common in hockey. You might see Lightning -200 vs. Red Wings +170 on the money line – here Tampa is a strong favorite straight-up. In both MLB and NHL, because scoring is lower, the point spread (run line/puck line) is almost always 1.5. Many bettors either take the favorite on the money line (if they’re confident in a simple win) or the underdog +1.5 to keep the game close. But if you fancy a team to win big, taking the -1.5 at plus odds can be enticing. Just remember, as always, minus in front of a team (whether in a spread or money line) tags it as the favorite, and plus tags the underdog. The numbers will guide your potential payout on these bets, so read them carefully.

Soccer and UFC Odds: Plus/Minus in Moneyline Betting

Soccer (football) and combat sports like UFC also use the plus/minus money line format, but with a few quirks. In soccer, most bets are on the three-way money line (1X2) because games can end in a draw. This means you’ll see odds for Team A, Team B, and Draw. Often, especially in balanced matchups, all three outcomes may have plus odds (since a draw is a third possibility lowering each win probability). For example, in an English Premier League game you might find: Liverpool -150, Draw +280, Everton +400. Here Liverpool is the favorite (minus odds, bet $150 to win $100), Everton is the underdog (big plus odds, $100 bet wins $400), and a Draw at +280 (bet $100 to win $280). The plus and minus work the same way: minus for the favored outcome, plus for the less likely outcomes. If both teams are evenly matched, you might see both at slight plus odds, like Team A +120, Team B +160, Draw +230 – neither side is an odds-on favorite, but one is still favored over the other (the lower plus indicates the favorite). When betting soccer, it’s important to note that a money line bet on a team is for the 90-minute result (including stoppage time) in most cases. If you want to avoid the draw scenario, you can bet “Draw No Bet” or use a handicap, but those also use plus/minus odds in a similar fashion (just adjusting for the removed draw possibility). The main takeaway is that, just like other sports, the underdog will have a plus number (bigger potential payout) and the favored side a minus number (lower payout) in American odds.

In the UFC (and boxing or any one-on-one sport), it’s pure money line betting on who wins the fight. Here, plus/minus odds shine as the clear indicator of the favorite and underdog. For example, you might see a UFC fight listing: Champion -300 vs. Challenger +250. The champion is a 3-to-1 favorite – you must bet $300 to win $100 because he’s expected to win. The challenger is +250, an underdog – a $100 bet on the challenger would net you $250 if she scores the upset. There is no point spread in fights; the odds are solely based on win probability. Sometimes two fighters might both be minus (e.g. Fighter A -120, Fighter B -110) if it’s a very close matchup – in that case, the one with -120 is the slight favorite. But usually one will be plus. The methodology is the same: minus = favored, plus = underdog, and the numbers indicate the payout scaling. A quick example calculation: at -300 odds, a $50 bet would win about $16.67 (because you’d win 1/3 of your stake as profit); at +250 odds, a $50 bet would win $125 profit. Knowing this, you can decide if a longshot underdog is worth a small bet for a big payoff, or if it’s a safer play to back the favorite despite the modest return. Sports like tennis, boxing, and UFC rely heavily on these money line odds, so becoming comfortable with plus and minus is essential for bettors.

When should you bet the money line vs the point spread?

Now that we know what plus and minus mean for money line bets and point spread bets, how do you decide which type of bet to place? This often comes down to your confidence in an underdog or favorite, and your strategy for balancing risk vs reward. Betting the money line is straightforward: you’re picking a team to win outright. This can be attractive if you believe an underdog has a real shot to win the game. Instead of taking the points, you might take the underdog on the money line for a bigger payout. For example, if an NFL team is +7 underdog (roughly +250 money line), you could bet them +7 to play it safe, or bet the money line and potentially win 2.5 times your money if they pull the upset. On the flip side, if you like a favorite but aren’t sure they’ll cover a big spread, you might opt for a money line bet at minus odds. Some bettors will parlay heavy favorites on the money line for a lower-risk, lower-return combination. Money lines are also the only choice in sports without point spreads (like most baseball or hockey bets), unless you use the run line or puck line.

Betting the point spread is often the better choice when the money line odds are extremely lopsided or if you want a cushion on an underdog. For instance, a powerhouse NBA team might be -500 on the money line (very expensive to bet), but -10 on the point spread at -110 odds. If you think they’ll win comfortably, a point spread bet can be more sensible (risk $110 to win $100) rather than risking $500 to win $100 on the money line. Conversely, maybe you think an underdog can keep the game close but not necessarily win – taking the points (e.g. +10, +7, etc.) is a smarter bet in that case. The decision also depends on the payout you desire and your risk tolerance. A small underdog might be +3 on the spread but +140 on the money line. If you want the higher payout and are confident in an outright win, you go money line. If you want to play it safe, you take the +3 points with a standard juice. There’s also the consideration of pushes: if a spread is a whole number and the team loses by exactly that margin, you get your money back; on a money line there’s no push (it’s win or lose).

Sometimes, bettors will do both – for example, bet a little on the underdog money line for the big reward, and a larger amount on the underdog spread as a safer play. The plus/minus odds will reflect the probabilities: a huge longshot will be +500 or more on the money line, which can be tempting for a flyer bet. Favorites with minus odds beyond -300 might not be worth it to some bettors except in parlays or very confident situations. The key is to understand what the line is telling you: if a team is -7 (spread) and -300 (money line), they are expected to win comfortably. If you disagree and think the underdog has a chance, the money line is where you’d take the shot. If you think the favorite wins but maybe by only 3-6 points, you might avoid the spread or not bet that game. By reading the plus and minus, you can form a betting strategy: choosing between point spread bets and money line bets depending on how you see the game unfolding and where the value lies.

Tips for betting with plus/minus odds (Betting 101 Strategies)

Finally, here are some expert tips and strategies for betting with plus/minus odds in mind:

• Understand Implied Probability: The plus/minus odds can be converted into implied chance of winning. A quick rule of thumb: the favorite’s odds tell you their expected win percentage. For example, -200 roughly implies a 67% chance of winning, while +200 implies about a 33% chance. If you believe an underdog’s true chances are higher than what the odds imply, that bet might have value. Always remember that bigger underdog odds mean the sportsbook views it as a long shot. Don’t let a big payout alone lure you—consider the actual likelihood of the team winning.

• Line Shopping: Different sportsbooks might offer slightly different odds on the same game. One book might list an underdog at +150 while another has +160. Getting an extra bit of plus money on your bet, or a slightly lower minus price on a favorite, increases your potential payout over the long run. In a field as competitive as sports betting, squeezing out the best odds is part of a smart strategy. All US-based sportsbooks use the same plus/minus format, so it’s easy to compare – and taking +160 instead of +150 on an underdog, for example, means $10 more profit on a $100 bet. Over time, that adds up.

• Manage Your Bankroll: Plus and minus odds can also guide how you stake your bets. For heavy favorites (large minus odds), you might risk more money to win a smaller amount – be cautious doing this frequently, as one upset can wipe out many small gains. For big underdogs (large plus odds), you can bet smaller amounts since the payout is high. Many experienced bettors will flat bet (risk the same amount on each bet) or a proportional amount based on confidence. Just because an outcome is -500 doesn’t mean it’s a “sure thing” – upsets happen, and the loss would be large. Balance your bets between favorites and underdogs in a way that your budget can handle the swings.

• Context Matters: Always consider the context of the odds. A team at -120 is a slight favorite – essentially a coin flip game. A team at -500 is a huge favorite (and likely much better than their opponent). Likewise, an underdog at +300 is not expected to win often. Look at injuries, matchup stats, and other information to inform whether those odds have value. Sometimes a star player being out can turn a -200 favorite into an underdog, for example. The odds move with the money and news, so plus/minus can also indicate how the betting public and oddsmakers are feeling about a game.

• Utilize Promotions and Bonuses: Many US sportsbooks (DraftKings, FanDuel, BetMGM, etc.) offer promotions like enhanced odds or “+EV” boosts (e.g., boosting an underdog from +200 to +250). Taking advantage of a boost can tilt the plus/minus a bit more in your favor. Just be sure to read the terms. Also, if you’re a new bettor, use any sports betting 101 materials the sportsbook provides – they often explain these odds and might even give you a risk-free bet to try them out.

By keeping these tips in mind, you can approach betting lines with confidence. The plus and minus odds tell you more than just who’s favored – they inform your potential return, the level of risk, and the sportsbook’s expectations. With this sports betting 101 knowledge under your belt, you’re better equipped to find value and make smarter bets, whether it’s on a Sunday NFL game, the NBA playoffs, the World Series, or the next big UFC title fight.

Summary: Key Takeaways

• Plus (+) and Minus (-) Basics: In American sports betting odds, a minus indicates the favorite and shows how much you must bet to win $100, while a plus indicates the underdog and shows how much you win on a $100 bet​
• Money Line Bets: A money line bet is simply picking a winner. Minus odds (e.g. -150) mean you’re betting the favorite (risk more to win less), plus odds (e.g. +150) mean you’re betting the underdog (risk less to win more). This applies in all sports (NFL, NBA, MLB, NHL, soccer, UFC, etc.).
• Point Spread Bets: The point spread uses plus/minus to handicap teams. A favorite might be -6.5 points, meaning they must win by 7+ to cover; an underdog at +6.5 can lose by 6 or fewer and still cover. Point spread bets typically have odds around -110 for both sides (bet $110 to win $100).
• Payout Calculations: Plus odds payout more than your stake (e.g. +200 yields $200 profit on a $100 bet), minus odds payout less than your stake (e.g. -200 yields $100 profit on a $200 bet). In all cases, you get your original bet back plus the profit if you win​
• Favorites vs Underdogs: The favorite always has a minus sign and the underdog a plus sign in the odds​. Big minus odds (e.g. -300, -500) indicate a strong favorite; big plus odds (e.g. +300, +500) indicate a long-shot underdog.
• Sports Examples: In an NFL game, Patriots -7 vs Jets +7 shows a touchdown favorite. In MLB, Yankees -1.5 (run line) means they must win by 2 runs. In UFC, Fighter A -250 vs Fighter B +200 means A is favored and B is the underdog. The plus/minus format is universal across sports for odds.
• Choosing Spread vs Moneyline: Bet the point spread if you want to take or give points (useful if the money line is too pricey or you want some cushion on an underdog). Bet the money line if you just want to pick a winner – great for underdogs or parlays with big favorites. It’s about balancing risk and reward.
• Always Compare Odds: Different sportsbooks may have slightly different plus/minus odds. Shopping around can improve your payouts (e.g. getting +105 instead of +100). Use the consistency of American odds format to your advantage by finding the best line.
• Bankroll and Strategy: Don’t be intimidated by plus and minus. They’re your guide to how much you’ll win. Manage your bets accordingly – don’t unload your whole bankroll on a huge favorite for small gain, and don’t chase long-shot plus odds without reason. Stay informed on the teams/fighters and bet responsibly.

With these fundamentals, you’re ready to navigate the betting board with confidence. Plus and minus odds are the language of sports betting, and now you’re fluent in what they mean. Good luck, and happy betting!