Reading odds and understanding the different figures at a sportsbook can be confusing for rookie bettors. Fortunately, if you want to learn what -200 or longer means in betting circles, our expert team can provide a detailed explanation.
We’ll also explore how -200 betting relates to every major American sport and provide detailed examples. Read on to learn more and use -200 (or longer) odds to your advantage.
What Does -200 Or Longer Mean In Betting?
First of all, let’s begin with the basics. When betting at odds of -200 or longer, you’re wagering at minus odds—therefore, you’re standing to win less than your wager back if your bet wins. At -200 odds, you’re bidding to win half of the amount you risk on a bet.
To help you digest this information more easily, look at this example: if you found a -200 bet that you liked and risked $100, you would profit $50 for a total return of $150 if the bet is successful.
When betting at minus odds, there is much less value than betting at plus odds – because minus odds usually indicate the favorite, whilst plus represents the underdog. For minus odds wagers, the sportsbooks believe this outcome is more likely to happen than not.
-200 has a decimal equivalent (commonly used in Europe) of 1.5, and the fractional equivalent (commonly used in the United Kingdom) is 1/2. The implied probability of -200 odds is 66.7%, so you can expect these bets to win around three times every five bets.
In short, at -200 odds, you will always win back half your stake (plus your stake back).
What Does +200 In Betting Mean – The Opposite Of -200 Odds?
The opposite of betting at minus odds is plus odds, which essentially means you stand to win more than your wager in return if your bet wins. At +200 odds, you aim to win twice the amount you risk on any selection.
Like the example above, we’ll do another to make this easier to understand: if you decided to wager $100 at +200 odds, a winning bet would reward you with profits of $200, and your total returns, including your wager, would be $300.
This is completely different from betting at minus odds because there is much more value on offer, and you’re standing to win more money, but bets at these odds are much less likely to win than ones at odds of -200.
+200 in American odds has a decimal equivalent of 3.0 and a fractional equivalent of 2/1. The implied probability of +200 odds is much lower than that of -200, coming in at 33.3%. Bets at +200 odds are almost half as likely to win as bets at -200. You can expect these bets to land around three times per every ten placed.
How Much Are The Winnings On -200 Betting Odds?
- $10 wager = $15 return
- $50 wager = $75 return
- $100 wager = $150 return
- $200 wager = $300 return
- $500 wager = $750 return
- $1,000 wager = $1,500 return
Do You Get Your Stake Back With Winning -200 Bets?
Yes, you do. So long as your bet wins, the stake will be returned along with the winnings; it doesn’t matter what the odds are.
For instance, imagine you wager a $10 moneyline bet at -200 odds on the 76ers beating the Celtics. If Maxey, Emblid, and Co. get the job done, you will win $5 profit, and your $10 stake will be returned, giving you a combined payout of $15.
What Is The Next Longest Betting Price After -200?
- $10 wager on +300 odds = $40 return
- $10 wager on +200 odds = $30 return
- $10 wager on +100 odds = $20 return
- $10 wager on -200 odds = $15 return
- $10 wager on -300 odds = $13.33 return
What Percentage Of -200 Bets Win?
-200 bets have an implied probability of 66.7%, meaning that bets at these odds are successful around three times for every five placed.
An Example Of A -200 Betting Opportunity
As seen in the below example, the USA is around -200 to win the men’s basketball at the 2024 Olympic Games. They hold odds of -240, and this looks as close as you could get to a certainty, considering the firepower set to arrive in Paris. LeBron James, Kevin Durant, Steph Curry, Jayson Tatum, and more of the NBA’s biggest stars are due to line up for the US this summer—and it’d be very hard to see them beaten.
Best US Sports For -200 Betting
Between the four major sports in the US—basketball (NBA), American football (NFL), ice hockey (NHL), and baseball (MLB)—there isn’t one that is necessarily more effective than the other in terms of the best sport for betting—it’s the one you feel most comfortable wagering your hard-earned cash on. The trick is figuring out where your expertise lies.
It’s all down to what you prefer! Although perhaps not recommended, you can wager on all of them. Below, we’ve explained -200 betting for every major sport in the country with a relevant example.
NFL
Once the season begins in September, -200 odds are commonplace in the NFL. However, we’re writing this during the long winter, otherwise known as the offseason, so market selection isn’t what it could be.
Hence, we have outlined another -200 (ish) betting opportunity for the NFL, as seen below. Jayden Daniels is the odds-on -175 favorite to be selected as the number two pick in the upcoming NFL Draft, with most of America very high on the former LSU Tiger’s potential.
This particular bet can be found in the futures market. Still, again, bettors will have ample selection when looking for a -200 bet on American football, such as the moneyline, total points, and spread markets come fall.
NBA
With so many games taking place each week and often hundreds of lines available for each game, finding -200 odds when NBA betting is generally a dead cert.
For example, you might wager on Minnesota Timberwolves vs Detroit Pistons, as we have done here. This particular wager is on the prop market: -200 odds on the Timberwolves to register 10 points in the game before the Pistons. As you can see, by risking $100, we would win $50, totaling a $150 payout.
MLB
A popular -200 bet on the MLB is likely to be Julio Rodriguez – known as ‘J-Rod‘ – to record 30 or more home runs and 30 or more stolen bases in the upcoming regular season.
He’s one of the league’s brightest talents, and this looks certain. Other markets to consider include the run line (spread), totals, and player props such as strikeouts.
NHL
The Bruins are among the most elite teams in the NHL and have an impressive reputation. Hence, you can get -200 odds for the Boston franchise on the prop market. To win this particular wager, we need the Bruins to score three goals or less in the upcoming game vs the Tampa Bay Lightning.
Other popular attack angles for bettors looking to win include the puck line (spread), and player props are very common for things like goalscorers, player assists, and goaltender saves.
