The sports betting industry in the United States continues to grow, and new bettors are getting signed up for accounts each day. Learning how to bet on sports can be a bit overwhelming at times, but there are a few things that you must understand.
Learning how to read betting odds and betting lines is one of the most important things for beginning bettors, and it can help you become successful in the industry.
This article will explain what odds of +200 mean, but it will also explain betting odds in general.
Whenever you see odds listed at +200, you are looking at either moneyline betting odds or future odds. Against the spread or total betting odds will typically be offered at -110 for each side, and it’s rare that it would ever go to +200.
If you are looking at moneyline odds listed at +200, then the first thing you know is that this team is a clear underdog in this bet. The favorite will usually be listed at -110 or lower, and the underdog will have a (+) in front of their odds.
If this is a futures bet, you have to look at the complete list to determine where this team or player falls. Getting odds at +200 can be extremely valuable if you are able to win this bet.
For example, if you were to place a bet of $100 on a team with odds at +200, then you would win $200 for that play. You would also get your $100 bet back, meaning that $300 would go back into your account.
You don’t always have to bet $100, but that’s the easiest way to explain what +200 odds mean in terms of potential payouts.
Odds Can Change at Anytime
Another important aspect to remember when betting on sports and looking at odds is that these can change at any time. A team that is listed at +200 one day could easily be listed at +160 the next.
If you have made a bet on a team or player at +200, then you are locked into those odds. You can always make an additional bet if the odds change in your favor, but you don’t need to worry about them if you have already locked in a wager.
There are several reasons that betting odds and lines can change, but the amount of money that is being wagered on each side is usually the biggest factor. Sportsbooks are looking to protect themselves from a big loss, and they will adjust the odds accordingly.
Shop Around for the Best Odds
Before you make a wager, you should always shop around for the best odds that you can find. A team that is listed at +200 at one sportsbook could be listed at +220 at another site.
If you only have a sports betting account at one site, you are stuck with those odds, but giving yourself a chance to find the best odds can help you succeed in this industry.
Further reading about betting and odds
If you are new to betting or want to know more about specific betting strategic, we have put together a few betting guides that cover details around how to bet and what to consider when placing a wager online: