Video Summary

In the world of sports betting, American odds can be overwhelming for newcomers. However, they're actually quite simple to understand. American odds are represented by a plus or minus sign followed by a number. A minus sign indicates how much you need to bet to win $100, while a plus sign indicates how much you'll win if you bet $100. For example, minus 110 means you need to bet $110 to win $100, while plus 120 means you'll win $120 if you bet $100.

Understanding American odds can help you determine which team is favored to win and which is the underdog. Favored teams have negative odds, while underdogs have positive odds. The odds are also influenced by the sportsbook's prediction of the outcome, with favorites typically having higher odds and underdogs having lower odds.

Sportsbooks use American odds to create a “service fee” or “vig” on each bet, which is essentially a commission they take for facilitating the bet. This fee is built into the odds and is reflected in the minus sign. For example, if you see minus 110 odds, you're essentially paying a 10% commission to the sportsbook for every $100 you bet.

In summary, American odds are a simple way to represent the probability of an event occurring. By understanding how to read American odds, you can make informed decisions when placing bets and increase your chances of winning.