When you see a negative number like -150 in betting odds, it means that team or player is the favorite to win.
This figure tells you how much you’d need to bet to win $100. In this case, if you were to bet $150 on the favorite, and they win, you would earn a profit of $100.
How does this affect your betting strategy?
Well, betting on the favorite might seem like a safe bet, but remember, there’s no such thing as a sure thing in sports.
The higher the absolute value of the negative odds, the more likely the favorite is to win, but also the less money you stand to gain from a successful bet.
So, while a -150 bet might seem attractive because it’s more likely to pay out, you’re risking more money for a smaller potential return.
Here’s an example
Let’s put this into perspective with a real-world example of a $100 bet.
If you bet $100 on a team with -150 odds, and they win, you would make a profit of approximately $66.67.
That’s because -150 odds imply a 60% probability of winning (150/(150+100)).
When should you consider this type of bet?
Well, that depends on your risk tolerance and betting strategy.
If you’re confident in the favorite’s chances and are willing to accept a smaller payout in exchange for a higher chance of winning, then betting on -150 odds could be a good move.
Remember, even favorites lose sometimes, so never bet more than you’re willing to lose.
Don’t bet without comparing odds
Finding the most profitable odds is essential to successful sports betting.
Tools like OddsJam can help you compare odds across different bookmakers to ensure you’re getting the best possible return on your bets. Happy betting!