Sportsbook markets answer different questions: a moneyline asks who wins, a spread asks whether a team beats a points handicap, and a total asks whether the combined score goes over or under a number. American odds then determine the potential profit and total payout. Check the sportsbook’s market rules and your local legal requirements before relying on any line.
How American odds translate into profit and payout
In U.S.-style American odds, a minus sign generally marks the favorite and a plus sign the underdog. The price tells you how the potential profit relates to your stake; it does not change what result the market requires.
- Negative odds: The number indicates how much you must stake to earn $100 profit. At −150, a $150 winning stake earns $100 profit and returns $250 total: the $150 stake plus $100 profit.
- Positive odds: The number indicates the profit on a $100 stake. At +130, a $100 winning stake earns $130 profit and returns $230 total.
For example, a $20 wager at −125 earns $16 profit if it wins, for a $36 total return including the original stake. BetMGM’s educational odds calculator converts −125 to a 55.56% implied probability; this is the raw conversion of that quoted price, not a promise that the wager will win or a margin-adjusted estimate of the true chance. BetMGM odds converter
The raw American-odds conversions are:
- For positive odds +A: implied probability = 100 ÷ (A + 100).
- For negative odds −A: implied probability = A ÷ (A + 100), using the absolute value of the negative number.
Bookmaker margin can be built into prices, so the raw implied probabilities for both sides of a market may add up to more than 100%. Decimal odds express total return per unit staked, including the stake; fractional odds express profit relative to the stake.
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Moneyline: pick the outright winner
A moneyline bet is settled on which team or player wins; the margin of victory does not matter. If a sport or event can end in a tie, the sportsbook may offer a draw as a separate outcome. A moneyline can have different odds for each side, and those prices determine potential returns. BetMGM guide to reading sports betting odds
Point spread: pick whether a team covers
A point spread adds a points handicap to the result. The handicap determines whether a team covers; the odds listed beside the spread determine the payout. Those are separate parts of the wager.
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Reading a spread
A favorite listed at −1.5 must win by at least two points to cover. An underdog at +1.5 covers by winning outright or losing by one point. The favorite could win the game but fail to cover, while the underdog could lose and still cover.
For example, −110 beside a spread is the price, not the number of points in the handicap. At −110, a $110 winning stake earns $100 profit, plus the returned $110 stake.
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When a spread can push
If a spread uses a whole number and the result lands exactly on that line, the bet may push, meaning the stake is refunded. A half-point spread avoids an exact-score push on that line. Settlement details depend on the sport and the sportsbook’s rules. Action Network explanation of point spreads
Totals: bet on the combined score
A total, also called an over/under, asks whether both teams’ combined score will be over or under the posted number. It does not ask you to pick the winner. With a total of 165.5, the over wins if the combined score is above 165.5; the under wins if it is below. Because the line ends in .5, the final combined score cannot equal it.
A whole-number total can push if the combined score lands exactly on the line, subject to the sportsbook’s settlement rules. Action Network explanation of totals and pushes
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What to check before comparing markets
One game can have a moneyline, spread, and total, but each settles on a different condition. Compare the market’s winning condition, the quoted odds, and its settlement rules rather than assuming one price describes the whole wager.
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- Identify what must happen: outright win, cover the handicap, or combined score above or below the total.
- Separate line from price: spread points or total points define the condition; American odds define potential profit.
- Check for a push: whole-number spreads and totals may push when the result equals the line. Confirm whether and how the operator refunds the stake.
- Calculate both profit and total return: profit is the amount won; total payout also includes the returned stake.
- Verify current rules and availability: licensing, legal access, and settlement rules differ by jurisdiction, sport, and operator. Check the local regulator and the sportsbook’s current rules.
Keep the numbers in perspective
Odds describe prices and potential returns, not certainty or dependable income. The Responsible Gambling Council recommends setting time and spending budgets, using available limits, taking breaks, avoiding chasing losses, limiting alcohol or other substances, and stopping if gambling becomes stressful or stops being fun. Its 2025 release reported that 70% of surveyed sportsbook users planning to bet on a Big Game said they would use at least one responsible-gambling feature; that finding applies to that event-specific survey, not all bettors. Responsible Gambling Council Find help for problem gambling
