In the American odds format, a negative number (like -250) indicates the favorite in the match or game.
It tells you how much money you would need to wager in order to earn a $100 profit. So in this case, with odds of -250, you’d have to bet $250 to potentially win $100.
Impact on your betting strategy and example
Say you want to place a $100 bet. With odds of -250, if you win, your profit would be $40 (because 100 divided by 2.5 equals 40).
This is because the odds are saying that this outcome is more likely to happen, hence the lower return on your bet.
When should you consider this type of bet?
If you strongly believe that the favorite is going to win, then betting on these odds could be a good idea.
However, remember that while the potential payout is lower, the risk is also lower since the favorite is more likely to win – but still winning a bet like this is not guaranteed, and there is still a risk of losing the bet.
Getting the best bang for your buck
Trying to find the best value bets is where odds comparison tools come into play. They can help you find the most profitable odds for a given bet.
A tool like OddsJam, for instance, allows you to compare odds across many different sportsbooks to ensure you’re getting the best possible value for your wager.