How to Read American Sports Betting Odds

American odds are the standard format on US sportsbooks. They come in two shapes: negative numbers (favorites) and positive numbers (underdogs).

Negative odds: -110, -160, -350. - The number tells you how much you risk to win $100. - -110 means risk $110 to win $100. - -160 means risk $160 to win $100.

Positive odds: +120, +220, +500. - The number tells you how much you win on a $100 risk. - +120 means risk $100 to win $120. - +500 means risk $100 to win $500.

Decimal odds (used in Europe and most data providers): - Decimal = (American positive / 100) + 1, or (100 / American negative absolute value) + 1. - -110 American = 1.91 decimal. - +120 American = 2.20 decimal. - Decimal odds × bet = total return (including stake).

Converting odds to implied probability: - Negative: abs(odds) / (abs(odds) + 100). - Positive: 100 / (odds + 100). - -110 implies 52.4%. +120 implies 45.5%.

The vig: - A "-110 / -110" market implies 52.4% on each side. Sum = 104.8%. - That extra 4.8% above 100% is the sportsbook's hold (vig). - True probability is the implied probability divided by the sum, so 52.4 / 104.8 = 50% on each side.

Reduced juice books: - Pinnacle, BetOnline, lowvig.ag run thinner margins (often 102-103% combined). - Their lines are closer to true probability — that's why sharp bettors use them as their reference, not their bet ticket.

CleverBet uses Pinnacle's de-vigged price as the sharp anchor. Every pick is scored against it. Soft-book mispricings versus the sharp anchor become +EV plays.