What does +\- mean in betting?
What does +\- mean in betting?
By Jocelyn Alano November 27, 2023 10:15
If you're new to sports betting, you might have come across the terms + and - while looking at the odds for a particular event. But what do these symbols mean, and how do they affect your betting strategy?
In short, the + and - symbols are used to indicate the underdog and favorite in a particular matchup. The favorite is denoted by a negative number, while the underdog is denoted by a positive number.
For example, let's say that the odds for a basketball game between the Los Angeles Lakers and the Brooklyn Nets are as follows:
Los Angeles Lakers -150 Brooklyn Nets +120
In this case, the Lakers are the favorites, as indicated by the -150 next to their name. This means that you would have to bet $150 on the Lakers to win $100 in profit. On the other hand, the Nets are the underdogs, as indicated by the +120 next to their name. This means that if you bet $100 on the Nets and they win, you would get $120 in profit.
But why do the odds differ for the favorite and underdog? Essentially, the sportsbook is trying to balance the amount of money being bet on each team so that they can make a profit regardless of the outcome. They do this by adjusting the odds for the favorite and underdog to incentivize more people to bet on the underdog.
For example, let's say that the Lakers are heavily favored to win the game, and most bettors are putting their money on them. In this scenario, the sportsbook might adjust the odds to something like this:
Los Angeles Lakers -300 Brooklyn Nets +250
By making the odds even more in favor of the Lakers, the sportsbook is hoping to entice more people to bet on the underdog Nets. This way, if the Nets do end up winning, the sportsbook won't lose as much money since they'll have made enough profit from all the people who bet on the Lakers.
Of course, this is just a simplified example, and the actual odds for any given event will depend on a variety of factors, including the teams' records, injuries, and past performance.
So how can you use the + and - symbols to your advantage as a bettor? One strategy is to look for situations where the underdog has a good chance of winning, but the odds are heavily in favor of the favorite. In these cases, betting on the underdog can be a smart move since you'll get a higher payout if they end up winning.
Another strategy is to look for situations where the odds for the underdog are gradually improving over time. For example, let's say that the odds for the Lakers vs. Nets game were originally as follows:
Los Angeles Lakers -150 Brooklyn Nets +120
But as the game gets closer, more and more people start betting on the Nets, causing the odds to shift:
Los Angeles Lakers -130 Brooklyn Nets +110
In this scenario, betting on the Nets early could have earned you a higher payout, since the odds were more in your favor. However, if you wait too long and the odds shift too much in favor of the Nets, then it might not be worth betting on them anymore.
Ultimately, the + and - symbols are just one part of the complex world of sports betting. To become a successful bettor, you'll need to do your research, analyze the odds, and develop a sound strategy that works for you. But by understanding what these symbols mean and how they affect your bets, you'll be well on your way to making smarter and more profitable wagers.
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