In sports betting when you see odds like “-400”, it means that you would need to bet $400 to win $100.
When you see a team or player with -400 odds, it means they are heavily favored to win. The negative number indicates how much money you would need to wager in order to win $100.
This is because -400 odds suggest that the event is quite likely to happen, so the potential payout is lower. The formula to calculate the potential profit from negative odds is:
Potential Profit = Bet Amount / (Odds / 100)
So, if you bet $400 on -400 odds, your potential profit is:
$400 / (400 / 100) = $100
How Does This Affect Your Betting Strategy?
When you’re dealing with -400 odds, it usually indicates that the outcome is more likely to occur.
In other words, the team or individual you’re betting on is the favorite to win. That said, while the chances of winning are higher, the potential payout is lower.
Therefore, your betting strategy might need to involve larger wagers to secure substantial winnings.
However, remember to always gamble responsibly!
Real-World Example: A $100 Bet
Let’s put this into perspective with a real-world example. Suppose you place a $100 bet on a favorite with -400 odds. If they win, you’ll receive a $25 profit.
Add that to your original $100 bet, and you walk away with $125. While the profit may seem small, the likelihood of winning is typically greater.
When Should You Consider This Type of Bet?
Betting on -400 odds might be a good choice when you’re fairly confident that the favorite is going to win.
It’s also worth considering if you prefer safer bets with lower payouts. Remember, though, that even favorites can lose, so always bet responsibly!
Finding the Most Profitable Odds
Winning at sports betting isn’t just about picking winners and going with your intuition—it’s also about finding the best odds.
You need to use tools like OddsJam to help you find better sports picks you can bet on that are much more likely to win.
This way, you can maximize your chances of winning while also getting a better bang for your buck.
Plus, it’s a great way to find value bets so you can get the most out of every single bet.