Odds · Basics
What Does +500 Mean in Betting? Plus and Minus Odds Explained
You see "+500" next to a player prop or a long-shot parlay and the question is simple: what do I actually win? Here is the plain answer, plus a quick way to read any price on the board.
The short answer
+500 means a $100 bet wins $500. You also get your $100 stake back, so the total return is $600. Scale it down and a $10 bet at +500 wins $50 and returns $60.
The plus sign means you win more than you risk. The bigger the number, the bigger the payout, and the less likely the book thinks it is.
How plus odds work
Plus odds tell you how much you win on a $100 bet.
- +150: a $100 bet wins $150.
- +300: a $100 bet wins $300.
- +1000: a $100 bet wins $1,000.
To get the win on any stake, multiply the stake by the number and divide by 100. A $20 bet at +500 wins 20 x 500 / 100 = $100.
How minus odds work
Minus odds tell you how much you have to risk to win $100.
- -110: risk $110 to win $100. On $10, you win $9.09.
- -150: risk $150 to win $100. On $10, you win $6.67.
- -200: risk $200 to win $100. On $10, you win $5.00.
So -110 is the "standard" price you see on most spreads, totals and a lot of player props. The extra $10 is the book's cut.
Odds, payouts and implied chance
Every price also hides a percentage: how often the outcome has to happen for the bet to break even. That is the implied probability.
| Odds | $10 bet wins | Total back | Implied chance |
|---|---|---|---|
| -500 | $2.00 | $12.00 | 83.3% |
| -200 | $5.00 | $15.00 | 66.7% |
| -150 | $6.67 | $16.67 | 60.0% |
| -110 | $9.09 | $19.09 | 52.4% |
| +100 | $10.00 | $20.00 | 50.0% |
| +150 | $15.00 | $25.00 | 40.0% |
| +200 | $20.00 | $30.00 | 33.3% |
| +300 | $30.00 | $40.00 | 25.0% |
| +500 | $50.00 | $60.00 | 16.7% |
| +1000 | $100.00 | $110.00 | 9.1% |
The formulas are short:
- Plus odds: 100 / (odds + 100). For +500 that is 100 / 600 = 16.7%.
- Minus odds: odds / (odds + 100). For -110 that is 110 / 210 = 52.4%.
If you think something happens more often than its implied chance, the price may be worth a look. If you think it happens less often, pass. We go deeper on this, including how to strip the book's margin out of a price, in implied probability explained and no-vig fair odds.
What +500 looks like on a parlay
A lot of +500 tickets are not single bets. They are parlays. Two legs at about +145 each multiply out to roughly +500. Three legs at -110 land near +596.
That matters because a +500 parlay is only as strong as its weakest leg. A single long-shot leg at +500 and a three-leg parlay at +500 can carry the same implied chance, but the parlay has three ways to lose. Our +500 Hunter builds plus-money combos from current lines and shows the model's estimate next to the book's implied chance for every leg.
If you are new to stacking legs, start with how parlays work.
Reading odds on FanDuel and BetMGM
Both apps show American odds by default. A few things to keep in mind:
- Odds move. A player prop at -110 in the morning can be -135 by tip-off. Always confirm the price on the bet slip.
- The same player, two prices. You will often see Over and Under on the same line with different prices, such as Over -120 and Under -105. The side with the bigger minus number is the one the book expects more.
- Alt lines change the price, not just the number. Dropping a receiving yards line from 59.5 to 49.5 might move the price from -114 to -290. Our alt lines explainer shows a full ladder.
A quick mental shortcut
You do not need a calculator for most bets. Remember a few anchors:
- +100 is a coin flip.
- +200 is about one in three.
- +300 is one in four.
- +500 is about one in six.
- -200 is about two in three.
Before you place anything, run the slip through Slip Surgery. It reads every leg's price, shows the implied chance for the whole ticket, and flags the leg that drags it down most. Model reads only, never locks.
Frequently asked questions
What does +500 mean in betting?
A $100 bet at +500 wins $500, plus your $100 back. On a $10 bet you win $50 and get $60 back in total. The implied chance is about 16.7%.
What does -110 mean?
You risk $110 to win $100. On a $10 bet you win about $9.09. The implied chance is about 52.4%, which is a bit over 50% because of the book's margin.
Is +500 or -500 better?
Neither is better on its own. +500 is an underdog price that pays a lot but lands rarely (about 16.7% implied). -500 is a heavy favorite that pays little (risk $500 to win $100, about 83.3% implied).
What does +100 mean?
+100 is even money. A $10 bet wins $10. The implied chance is 50%.
How do I turn odds into a percentage?
For plus odds: 100 divided by (odds + 100). For minus odds: odds divided by (odds + 100), using the number without the minus sign. Our guide to implied probability has a cheat sheet.
Model picks, not locks. For entertainment and information only. 21+ | 1-800-GAMBLER. If betting stops being fun, read our responsible gaming page.
- FanDuel Sportsbook How to Bet guide: How to read the odds · American odds format
- National Council on Problem Gambling · help and self-assessment