baseball odds can look confusing at first because of the plus and minus shorthand used in U.S. books. This short introduction explains why those symbols exist and what they tell you about profit and stake. By learning the conversion formulas and a few practical checks you can read lines confidently and compare moneyline and run line options without guessing.

Plus means profit on a 100 USD stake, minus means the amount you must risk to win 100 USD.

Convert American odds to implied probability with two simple formulas to compare prices objectively.

Adjust implied probabilities for vigorish before using expected value to size or choose bets.

What the plus and minus actually mean in American odds

Quick definition

On American-style lines you will see a plus sign or a minus sign next to a team and those symbols tell you about profit and stake. A plus sign shows how much profit a 100 USD stake would return on an underdog, while a minus sign shows how much you must stake to win 100 USD on a favorite; this is the standard U.S. convention for American odds, and it applies to baseball odds as well Investopedia American Odds.

Put simply, +150 means a 100 USD wager would yield 150 USD profit if the selection wins, while -200 means you must risk 200 USD to make 100 USD profit. These shorthand rules let you read a moneyline at a glance and convert between stake and profit without special notation.

How to read + and - in practice

When you see a line like +150, treat the number as the profit on a 100 USD stake; for -200, treat the absolute value as the amount you need to stake to make 100 USD. Writing out the two quick rules on paper next to a line helps avoid confusion when scanning multiple games.

Tip: keep the words underdog and favorite in mind. The underdog usually carries the plus sign because the payout is larger for the same 100 USD stake. The favorite gets the minus sign because the bettor must risk more to collect the same 100 USD reward.

Steps to convert American odds to probability and payout on a phone calculator

Odds
Stake
Result

Use whole numbers for odds

How to convert American odds into implied probability and payout

Conversion formulas for positive and negative odds (baseball odds)

To turn American odds into an implied probability use a simple formula. For positive odds use probability = 100 / (odds + 100). That gives the market implied chance for that price. When you do this calculation it tells you what the sportsbook s price implies about the chance of the outcome Investopedia implied probability Omni Calculator implied probability.

For negative odds use probability = |odds| / (|odds| + 100). The absolute value is important because negative numbers express the stake required to win 100 USD rather than the profit on 100 USD. Both formulas convert the price into an implied percentage you can compare to your own estimate.

Worked examples with numbers

Example for +150: implied probability = 100 / (150 + 100) = 100 / 250 = 0.40, or 40 percent. If you back that team with a 50 USD stake, profit = stake × (odds / 100) = 50 × (150 / 100) = 75 USD profit if the bet wins. This is deterministic math you can run manually or on a phone calculator Investopedia American Odds Odds converter.

Example for -200: implied probability = 200 / (200 + 100) = 200 / 300 = 0.6667, or about 66.67 percent. A 50 USD stake on -200 yields profit = stake × (100 / |odds|) = 50 × (100 / 200) = 25 USD profit if the bet wins. Using these formulas converts any American price into both a probability and a payout number you can compare.

Practice converting lines with structured challenges

Try converting one line yourself: pick a moneyline and calculate the implied probability and the profit for a 50 USD stake to build familiarity.

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One more practical note: sportsbooks include a margin known as vigorish or overround, so the two sides combined often imply more than 100 percent probability. That means raw implied probabilities overstate true edge unless you adjust for the book s margin Investopedia vigorish.

Moneyline versus run line in baseball and where + and - appear

What a moneyline price represents

A moneyline is a straightforward wager on which team will win the game; each team receives an American-odds price showing how the book pays a winning selection. For a plain winner bet you look at the moneyline, read the plus or minus, and use the conversion rules to judge the implied probability and payout VSiN how to bet baseball.

What does the plus or minus sign tell me on a baseball moneyline?

They tell you whether the number is profit on a 100 USD stake for underdogs or the stake required to win 100 USD for favorites; convert to implied probability to compare value.

What the run line is and its usual ±1.5 structure

The run line is baseball s form of a spread. Most books use a run line of -1.5 for the favorite and +1.5 for the underdog; that line shifts the score margin and carries its own American-odds prices separate from the moneyline. The run line price reflects the market s estimate and appetite for a favorite to win by more than the set run buffer TheLines MLB run line explained.

Because run line and moneyline markets reflect different possible outcomes, their American-odds prices can and do move independently. Traders and bettors will force changes based on game-day information, starting pitchers, and betting flow, which means the favorite on the moneyline is not always the same numeric favorite on the run line VSiN how to bet baseball.

How to use + and - to evaluate value and make betting decisions

Basic expected value calculation using implied probability

Close up smartphone screen showing American baseball odds with highlighted plus and minus signs on a clean dark Funded Plays style background

Expected value, EV, is a compact way to judge whether a price offers long-term advantage. The formula is EV = (probability × profit) - (1 - probability) × stake. Convert the American odds into an implied probability first, then plug the profit you would win into the formula to get a single number that shows whether the wager is expected to pay off over many trials Investopedia implied probability.

For example, if a line implies a 40 percent probability and the profit on your stake would be 75 USD, EV = (0.4 × 75) - (0.6 × stake). Running this math consistently helps compare different bets on an apples-to-apples basis.

Adjusting for vigorish and overround

Raw implied probabilities come straight from the conversion formulas, but sportsbook books embed vigorish, which inflates the combined implied probability across both sides above 100 percent. To estimate the book s margin and remove it from your calculations you can normalize the probabilities so their sum equals 100 percent; that adjustment gives a cleaner view of edge against the true market consensus Investopedia vigorish.

Practically, adjusting for overround is most important when two prices are tight and a small edge is in play. For larger perceived advantages the adjustment matters less to the decision but is still best practice before sizing a stake.

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Choosing between moneyline and run line for a single game

Deciding whether to take a moneyline or the run line is a comparison of implied payout, implied probability, and your own estimate. A favorite with a tight moneyline may pay little, while laying the run line may offer a better payout if you believe the team will win by more than the set runs. Use the EV framework to compare both markets for the same game and choose the option with the higher expected value after adjusting for vigorish VSiN how to bet baseball. Our blog

Remember that market movement and starting lineup news can shift where value lies, so reassess lines as new information arrives rather than locking to a first price without checking the run line and moneyline together.

Common mistakes and pitfalls when reading plus and minus signs

Misreading profit versus stake

A common error is treating the plus sign as the amount to risk rather than the profit on a 100 USD stake. That mistake leads to overestimated returns. Always restate the rule out loud: plus means profit on 100 USD, minus means amount to stake to make 100 USD. If in doubt, do the basic math and confirm the payout before placing funds Investopedia American Odds.

Forgetting to convert negative odds correctly

Another frequent arithmetic slip is mishandling negative odds in probability and payout calculations. Use the absolute value for negative odds when applying formulas so you do not flip the ratio incorrectly; the conversion formulas are simple but must be followed exactly to avoid errors How to calculate implied probability Investopedia implied probability.

Ignoring vigorish and market movement

Ignoring the book s margin or assuming no live movement will occur can distort expected value. Lines change for reasons, and the overround means the book s implied probabilities exceed 100 percent. Factor both into decisions and avoid sizing stakes that assume a static market edge Investopedia vigorish.

Practical baseball scenarios: worked examples with moneyline and run line

Example 1: Small favorite on the moneyline

Scenario steps: 1) A team is posted at -140 on the moneyline. 2) Convert implied probability = 140 / (140 + 100) = 140 / 240 = 0.5833, or 58.33 percent. 3) You plan to stake 60 USD. Profit on win = 60 × (100 / 140) = 60 × 0.7143 = 42.86 USD. Plugging into EV with your estimated true probability gives a decision metric to compare alternatives Investopedia implied probability.

Interpretation: if your model places the team s win chance above 58.33 percent after considering pitching and park factors, the moneyline may offer positive EV. If below, consider alternate markets like run line or skip the wager.

Example 2: Underdog on the run line

Scenario steps: 1) Underdog is +1.5 on the run line with a price of -120. 2) Convert implied probability for -120 = 120 / (120 + 100) = 0.5455, or 54.55 percent. 3) A 50 USD stake yields profit = 50 × (100 / 120) = 41.67 USD on a win. Use these numbers to compare taking the underdog on the run line versus picking them straight on the moneyline TheLines MLB run line explained.

Interpretation: if you think the underdog has better than a 54.55 percent chance to cover +1.5, the run line bet could be preferable to the moneyline where implied payouts and probabilities differ.

Example 3: Live odds movement and adjustments

Scenario steps: 1) Pre-game the favorite is -170. After late scratches the number drifts to -190. 2) Convert both prices to implied probability: -170 implies 170 / 270 = 62.96 percent; -190 implies 190 / 290 = 65.52 percent. 3) The drift increases the favorite s implied chance; if your model s estimate did not change, the move reduced value and you might decline the bet VSiN how to bet baseball.

Interpretation: live movement can flip a positive EV wager into a negative one. Recompute quickly and compare to your model before increasing stake sizes as the market moves.

Conclusion and next steps for practicing reading baseball odds

Key takeaways

Plus and minus on American odds map directly to profit and stake: plus shows profit on 100 USD, minus shows how much to risk to earn 100 USD. Always convert these prices to implied probabilities before judging value and use the EV formula to compare markets objectively Investopedia implied probability. Funded Plays evaluations

How to practice safely

Practice reading lines and doing conversion exercises using simulated or challenge-style platforms that do not promise earnings. Use small, repeatable exercises to build speed and accuracy rather than large, speculative bets. Platforms that offer practice challenges can help you learn without exposing real capital to risk.

What does a plus sign mean in American odds?

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How do I convert -200 to implied probability?

Use the formula |odds| / (|odds| + 100). For -200 that is 200 / 300 = 66.67 percent.

When should I use the run line instead of the moneyline?

Use the run line if its implied probability and payout produce higher expected value than the moneyline after adjusting for vigorish and your matchup assessment.

Practice the conversion steps until they feel automatic and use challenge-style or simulated formats to test decisions at scale. Focus on improving accuracy, not chasing quick wins, and remember that sportsbook prices include a margin that affects expected value.