Academy · Odds
How to read American odds (and the probability behind them)
Odds don't just show what you risk or win: they carry an implied probability.
October 31, 2026
American odds come in two kinds. A negative line (−115) shows how much you risk to win 100. A positive line (+150) shows how much you win when you risk 100.
| Odds | You risk | You win | Implied probability |
|---|---|---|---|
| −115 | $100 | $86.96 | 53.5% |
| −110 | $100 | $90.91 | 52.4% |
| +150 | $100 | $150.00 | 40.0% |
How implied probability is calculated:
- Negative odds: odds ÷ (odds + 100), without the sign. Example: 115 ÷ 215 = 53.5%.
- Positive odds: 100 ÷ (odds + 100). Example: 100 ÷ 250 = 40%.
Add both sides of the same game and they almost always top 100%. At −110 / −110, each side is 52.4% and together they reach 104.8%. That extra is the sportsbook margin. Removing it gives you the fair price, which EdgePicks calls the no-vig price.
The useful question is never "who will win?" but "do the odds pay more than the real probability is worth?".
Informational content. No odds or analysis guarantee results. EdgePicks does not process bets. 18+.
Create your account with code EDGEPICKS26 and try EdgePicks free for 15 days.