In simplest terms, +2000 means that if you were to place a $100 bet, you could potentially win $2000 if your chosen outcome occurs.
It’s important to note that this doesn’t mean you have to bet $100. You could bet $5, and if your bet is successful, you would then be paid out $100 (20 times your original bet).
This is a way for sportsbooks to represent betting odds, and it’s known as ‘moneyline odds‘ or ‘American odds. The “+” sign indicates that the team or player is an underdog.
Betting Strategy and When to Consider This Type of Bet
With such high potential returns, you might be wondering how this should affect your betting strategy.
Well, it’s key to remember that while the potential payout is high, so is the risk. A +2000 bet implies that the sportsbook believes this outcome is less likely to happen.
Therefore, you should consider this type of bet when you believe the underdog has a better chance of winning than the odds imply.
This requires a good understanding of the sport, the teams or players involved, and other influencing factors such as injuries, form, and even weather conditions.
Finding the Most Profitable Odds
Finding the best odds can significantly increase your potential profits in sports betting.
But how do you go about it? One effective way is by using odds comparison tools.
A tool like OddsJam, for instance, allows you to compare odds across different sportsbooks to find the most profitable odds.
The key to successful sports betting is not just about understanding what the odds mean.
It’s also about making smart, data-driven decisions, managing your bankroll effectively, and constantly learning and adapting your strategy.