When you first look at Vegas odds, it can seem like a jumble of numbers. But it all comes down to one simple thing: figuring out who the favorite is and who's the underdog.
The key is the plus (+) and minus (-) sign. A negative number shows you the favorite, while a positive number points to the underdog.
Breaking Down American Odds
When you log into an offshore sportsbook like MyBookie or BetOnline, you'll see those plus and minus numbers next to each team. They're the heart of the American odds format and tell you two things: who's expected to win and what your potential payout is.
Here's the breakdown:
- A negative line (like -150) is for the favorite. It tells you how much money you need to risk to win $100. In this case, you'd bet $150 to win $100.
- A positive line (like +130) is for the underdog. It shows how much profit you'll make on a $100 bet. So, a $100 bet on a +130 underdog would win you $130.
It’s important to remember that offshore sportsbooks build a margin into these odds—known as the "vigorish" or "vig"—to ensure they make a profit. That's why if you add up the implied probabilities of both outcomes, it will always be more than 100%.
Once you have the plus/minus concept down, you can apply it to the three most common ways to bet on a game: the moneyline, the point spread, and the totals (or over/under).
Quick Guide to American Odds Types
This table gives a quick snapshot of the big three bet types. It’s a handy reference for understanding what each one involves at a glance.
| Bet Type | What It Means | Example |
|---|---|---|
| Moneyline | Simply picking the outright winner, no strings attached. | -150 |
| Point Spread | Betting on a team to win or lose by a certain margin. | +6.5 (-110) |
| Totals | Wagering on the combined final score of both teams. | Over 48.5 |
These are the building blocks for almost every bet you'll place.
With point spreads, the sportsbook gives the favorite a handicap to level the playing field. For example, a favorite might be listed at -3.5 points, meaning they have to win by 4 or more for your bet to cash. The underdog at +3.5 just has to lose by 3 or less (or win outright). You’ll see this format all over offshore sites like BetUS and Bovada.
Totals bets, often called Over/Under, are a different beast entirely. You’re not betting on who wins, but whether the combined final score will be higher or lower than a number set by the oddsmakers. This is a go-to bet on platforms like Sportsbetting.ag and Xbet, especially in games where factors like bad weather or key injuries could dramatically impact scoring.
If you're looking for a deeper dive, our guide on What Is Odds In Betting breaks it down even further.
Understanding the basics lets you shop for value across offshore sportsbooks.
Once you can read the lines, you can start spotting the good, the bad, and the ugly—and make smarter decisions about where to put your money.
Placing Wagers on the Moneyline
The moneyline is the most straightforward bet in sports: you’re simply picking who will win the game. It’s the foundation of sports betting, and you'll find it on every major offshore sportsbook from BetUS to Bovada. While its simplicity is what draws people in, the real skill is reading the odds to understand the risk versus the reward.
Most guides explain moneyline odds using a standard $100 bet, which is a great starting point. But let's be realistic—you'll rarely wager that exact amount. The trick is learning how to calculate your potential payout for any wager size, which is the key to managing your bankroll like a pro.
Calculating Favorite Payouts
When you bet on a favorite, you'll see a negative number (like -150). This number tells you how much you need to risk to win $100.
Let's say you're on Xbet and see a UFC fighter listed at -180. You feel good about this pick and decide to put down a $40 bet.
Here’s the simple formula to figure out your profit:
Profit = (Stake ÷ Odds) x 100
Plugging in our numbers: ($40 ÷ 180) x 100 = $22.22 profit. If your fighter wins, you get your original $40 back plus the $22.22 you won, giving you a total return of $62.22.
Calculating Underdog Payouts
Figuring out the payout for an underdog is even easier. The positive number next to the team or player shows you how much profit you’ll make on a $100 bet.
Imagine you're browsing Bookmaker.eu and spot a serious underdog at +220. You decide to take a chance and risk $75 on them.
The formula for an underdog payout is just as simple:
Profit = (Stake x Odds) ÷ 100
In this case: ($75 x 220) ÷ 100 = $165 profit. A winning ticket would bring back your $75 stake plus that sweet $165 profit, for a total of $240.
Getting these quick calculations down is a game-changer. It moves you from just guessing to making smart, calculated decisions. For a deeper dive into this betting style and the strategies that work, check out our complete guide on what is moneyline betting.
This is where sports betting gets really fun. Moving beyond just picking a winner, point spreads and totals add a whole new layer of strategy to every single game. These are the bread and butter of offshore sites like Sportsbetting.ag because they make you think differently—it’s not just about who wins, but how the game plays out.
A point spread is the sportsbook's handicap, their way of leveling the field between a favorite and an underdog. The favorite has to win by a certain number of points (e.g., -7.5), while the underdog gets a head start (e.g., +7.5). If you want to get into the nitty-gritty, our guide on understanding point spreads is a great place to start.
Breaking Down a Real Game Example
Let's pull up a real NBA line from an offshore site like Bookmaker.eu to see how this works in the wild.
- Los Angeles Lakers: +5.5 (-110)
- Boston Celtics: -5.5 (-110)
- Game Total: Over 224.5 (-110) / Under 224.5 (-110)
If you bet on the Celtics at -5.5, they don’t just have to win; they have to win by 6 points or more for your bet to cash. On the flip side, if you take the Lakers at +5.5, they can either win the game outright or lose by 5 points or fewer, and you still win your bet.
Then you have the game total, often called the over/under. This is simply a bet on the combined final score of both teams. Bet the over, and you're rooting for a shootout where the total hits 225 points or more. Take the under, and you need a defensive battle that keeps the score at 224 or less.
What happens if the final score lands exactly on the spread number? Say the line was -5 and the Celtics won by exactly 5. That's a "push," and the offshore sportsbook just refunds your wager. No harm, no foul—you get your money back.
The amount of money flowing through these markets is staggering. To give you an idea, Nevada sportsbooks had their best month ever in September 2023, raking in $80.9 million in net profit. That just shows how incredibly popular these bets are, and it’s why getting a solid handle on reading Vegas odds for spreads and totals is absolutely critical for any serious bettor.
Turning Odds Into Implied Probability
If you want to find real value in sports betting, you have to learn to see the numbers behind the numbers. Seasoned bettors don’t just see a payout; they see a probability. This is the secret sauce, and it all starts with converting American odds into their implied probability.
This simple bit of math translates a betting line into a percentage, revealing the offshore sportsbook's own prediction of how likely an outcome is.
The calculation itself is surprisingly straightforward. There are just two formulas to remember: one for the favorites (negative odds) and a slightly different one for the underdogs (positive odds).
Calculating Implied Probability
Let's walk through a real-world example. Imagine you’re browsing a site like Cosmobet and you see a big-time boxing match with the favorite listed at -250 and the underdog at +200. We can use these numbers to figure out the chances the bookie is giving each fighter.
For the favorite (-250), here’s how you break it down:
(Negative Odds) / (Negative Odds + 100) * 100
(250) / (250 + 100) * 100 = 71.4%
Based on this, Cosmobet is giving the favorite a 71.4% shot at winning the fight.
Now for the underdog (+200), the formula is flipped:
100 / (Positive Odds + 100) * 100
100 / (200 + 100) * 100 = 33.3%
So, the offshore sportsbook thinks the underdog has about a 33.3% chance to pull off an upset.
You might have noticed something odd. If you add those two percentages together (71.4% + 33.3%), you get 104.7%. That extra 4.7% isn't a mistake—it’s the offshore sportsbook’s cut, also known as the "vig" or "juice." This is the built-in commission that ensures offshore sites like BetOnline and MyBookie make a profit no matter who wins.
To make things easier, here's a quick reference table.
Implied Probability Calculation Cheat Sheet
| Odds Type | Formula | Example (Odds -> Probability) |
|---|---|---|
| Negative (Favorite) | (Odds) / (Odds + 100) * 100 | -250 -> (250 / 350) * 100 = 71.4% |
| Positive (Underdog) | 100 / (Odds + 100) * 100 | +200 -> (100 / 300) * 100 = 33.3% |
Keep this handy, and you'll be converting odds in no time.
Understanding implied probability is what separates casual guessing from smart, strategic betting. It allows you to compare the offshore sportsbook's assessment with your own. If your analysis tells you the underdog’s true chances are closer to 40%, then those +200 odds suddenly look like a fantastic value bet. This is how you start thinking like a sharp.
Applying Your Knowledge to a Real Game
Alright, let's put all the pieces together. Reading individual odds is one thing, but the real skill comes from seeing how they tell a story about the game. This is how you start to find an edge.
We'll walk through a classic college football rivalry you might see listed on an offshore site like BUSR or Bet105.
Picture this: it's rivalry week, and the Ohio State Buckeyes are facing the Michigan Wolverines. You log into your account and see these lines:
- Moneyline: Ohio State -250
- Point Spread: Ohio State -6.5
- Total: 48.5
Right away, this setup paints a clear picture. The -250 moneyline screams that Ohio State is the heavy favorite. If you run the numbers, that translates to an implied win probability of about 71.4%. The offshore bookmakers are confident they’ll win the game outright.
Connecting the Spread and Total
The -6.5 point spread backs up that story, suggesting oddsmakers are expecting the Buckeyes to win by at least a touchdown.
But here's where a sharp bettor goes deeper. That 48.5-point total hints at a moderately high-scoring game. By combining the spread and the total, we can start to game out a likely final score. In this case, something in the neighborhood of Ohio State 27, Michigan 21 seems plausible.
This simple exercise helps you size up each bet on its own terms.
- Think Ohio State wins but it'll be a nail-biter? The moneyline might be a safer play than laying the -6.5 points.
- Anticipate a defensive slugfest where neither team gets much going? That under 48.5 starts to look pretty appealing.
This is the core of sports betting. You're not just guessing; you're analyzing the entire board to make an informed wager. It's a craft that has come a long way since Nevada first legalized sports betting back in 1949. Those early days laid the foundation for the sophisticated markets we have today. You can discover the history of Vegas sports betting to get a sense of just how much the industry has evolved.
Common Questions About Reading Vegas Odds
Even after you get the basics down, a few questions always seem to pop up. It’s totally normal. Let's tackle some of the most common ones I hear to clear up any lingering confusion and get you betting with more confidence on offshore sites like MyBookie and BetUS.
Why Do Betting Odds Change?
Ever check the odds for a game on BetOnline or Sportsbetting.ag on a Tuesday, then look again on Saturday and see they’ve shifted? That’s called line movement, and it happens for a couple of key reasons.
First and foremost, offshore sportsbooks are trying to balance their books. If 80% of the early money comes in on the Chiefs, the book will adjust the odds to make the other side more tempting. This encourages betting on the underdog, which limits their own financial risk if the popular side wins.
The other major factor is new information. A star quarterback twisting an ankle in practice, a sudden change in the weather forecast, or even a last-minute lineup shuffle can force oddsmakers to re-evaluate the game and move the line accordingly.
Watching how odds move can give you some great intel. It often shows where the general public is betting versus where the "sharp" money from professional bettors is going. Sharps tend to bet early, causing the first significant line movements of the week.
What Is the Vig or Juice?
You'll often hear the terms "vig" (short for vigorish) or "juice." This is simply the commission an offshore sportsbook charges for taking your bet—it's how they guarantee a profit. The clearest example is on point spread and totals bets, where you’ll almost always see both sides listed at -110 instead of an even +100.
That extra 10% is the book's cut. It's the reason offshore sportsbooks like Bovada and Xbet stay in business. It means you have to risk $110 just to win $100. Grasping this concept is absolutely crucial for long-term bankroll management because it's baked into every single bet you make.
Can I Bet Amounts Besides $100?
Of course. The $100 figure is just a standard benchmark used to make the math simple and universal. Think of it as a reference point, not a requirement.
Whether you're on Bookmaker.eu or BetAnything, you can wager whatever you're comfortable with, from a couple of bucks up to the site's maximum limit. Your potential payout just scales proportionally. For instance, if you place a $10 bet on odds of +200, your potential profit is $20, not $200.
Ready to put your knowledge to the test? USASportsbookList provides detailed reviews and bonus information for the best offshore sportsbooks, helping you find the perfect site to place your next wager. Explore our curated lists and expert guides at https://usasportsbooklist.com.
