Are you new to online betting? No drama: Our resident SportsTalkPhilly gambling expert is on hand to explain what +500 means in betting and the pros and cons of the market.
This guide will feature everything you need to know on +500 in betting, including how it correlates to each of the major US sports, such as American football (NFL), basketball (NBA), ice hockey (NHL), and baseball (MLB).
+500 betting is a beloved tactic for many sports bettors, both in Pennsylvania and nationwide, who want to increase their profits and win big. Read on to find out all you need to know.
What Does +500 Mean In Betting?
When betting at plus odds, you stand to win at least your wager back with a winning selection. At +500, you have the opportunity to win five times the amount you’re risking on any given bet.
To make this easier to understand, let’s use an example: if you risked $100 at +500 odds, a winning bet would net you a massive $500, and your total returns, including your wager, would be $600.
There’s plenty of value on offer when betting plus odds, which usually means it’s an underdog. Therefore, the sportsbook believes this outcome is less likely to happen than a minus selection, which is normally associated with favorites.
+500 has a decimal equivalent 6.0, and the fractional equivalent is 5/1. The implied probability of these odds is 16.7%, so you can expect these bets to win around four times per every 25 bets placed.
But note that a +500 betting selection in a competitive outright futures market—like the Masters golf, Kentucky Derby, or the soccer World Cup—could mean this pick is one of the more fancied in that market.
However, a +500 pick in a matched betting scenario would mean that the team or player is the underdog.
What Does -500 Mean In Betting? (The Opposite)
The opposite of betting at plus odds is betting at minus odds, which means you stand to win less than your wager back if your bet is successful. At -500 odds, this means you’re bidding to win a fifth of the amount you’re risking on a bet.
Again, to make this easily digestible, we’ll use another example: if you wagered $100 at -500 odds, a winning bet would see you profit just $20, and your total returns, including your wager, would be $120.
Unlike betting at plus odds, there isn’t as much value when betting at minus odds, but some bettors prefer this because the selection has a very high probability of winning.
-500 has a decimal equivalent of 1.2 and is written as 1/5 as a fraction. The implied probability on -500 odds is much greater than +500, coming in at 83.3%, so you can expect these bets to return profit around four times per every five bets placed.
-500 betting selections will always be strong favorites to win.
What Are The Winnings At +500 Betting Odds?
- $10 wager = $60 return
- $50 wager = $300 return
- $100 wager = $600 return
- $200 wager = $1,200 return
- $500 wager = $3,000 return
- $1,000 wager = $6,000 return
Do You Get Your Stake Back With +500 Betting?
+500 betting ensures that, yes, you do get your stake back – and much more! When a bet has odds of +100 or greater, that means you stand to win at least your wager back if the bet is successful.
Betting at +500 odds means you stand to win five times your wager back, making this a very popular angle for bettors who are looking to win a substantial amount.
What Percentage Of +500 Bets Win?
+500 bets have an implied probability of 16.7%, meaning these bets are successful around four times per every 25 bets placed.
An Example Of A +500 Betting Opportunity
In the below example, we’ve found what looks like a good +500 betting opportunity. The Baltimore Ravens dominated the AFC last season, and despite missing out on a trip to the Super Bowl, we only expect them to improve with a young squad full of life. You can back the Ravens at +500 to win the AFC Championship in 2024, which pays $500 profit from a $100 wager.
Best US Sports For +500 Betting
The four major sports in the US are American football (NFL), basketball (NBA), ice hockey (NHL), and baseball (MLB), and each of these leagues attracts millions of bettors across the country every year.
There isn’t one that’s necessarily better for +500 betting than the other, it’s down to your own preference and what sport you think you know best. If you want to wager on them all, you can do that too. Below, we have outlined +500 betting for every US sport with an example.
NFL +500 Betting
We have outlined another +500 betting opportunity for the NFL below. The Minnesota Vikings are +500 to win the NFC North Division in 2024, and that looks valuable if star wide receiver Justin Jefferson is fit and firing come autumn.
There are plenty of other +500 betting opportunities for the NFL, too, in the form of moneyline, total points, and spread markets. Player props and touchdown scorers are another hugely popular angle for bettors.
NBA +500 Betting
If you fancy an outright bet on the upcoming NBA Playoffs, you might look towards the Los Angeles Clippers at +500. This team – led by two-time champion and Finals MVP Kawhi Leonard – alongside Hall-of-Famers James Harden, Paul George, and Russell Westbrook – has a real shot at glory in 2024.
If you’d prefer to bet on an individual game, there are also moneyline, total points, and spread markets to look at. Player props are also common, and many enjoy wagering on the first basket scorer.
NHL +500 Betting
The Boston Bruins are +500 to win the Eastern Conference in the NHL this year, which looks enticing. They’re the third-oldest active hockey team in the country, with six Stanley Cup titles and five conference championships to their name.
Other popular bets on the NHL include the puck line (spread) and the 60-minute line (doesn’t include overtime). Goalscorers, player assists, and goaltender saves are also common prop bets.
MLB +500 Betting
An intriguing +500 betting opportunity for MLB is the Atlanta Braves to win the 2024 World Series. They won their last World Series in 2021 and are currently second in the betting behind the Los Angeles Dodgers.
The run line (spread) and totals are again extremely popular bets for baseball games, alongside prop bets like home runs, strikeouts, and total hits.
