-150 is a negative American odds price, indicating a favorite. The negative number tells you how much you need to wager to win $100.
Breaking Down -150
- You bet $150
- Your team wins
- You profit $100
- Total returned: $250 (your $150 stake + $100 profit)
The implied probability of -150 is 60% — formula: |American odds| / (|American odds| + 100) = 150 / 250 = 60%.
Negative Odds Across the Scale
| Odds | Implied Probability | Must Bet to Win $100 | |———|——————————|——————————| | -110 | 52.4% | $110 | | -130 | 56.5% | $130 | | -150 | 60.0% | $150 | | -200 | 66.7% | $200 | | -300 | 75.0% | $300 |
The Problem with Heavy Favorites
As odds get more negative, the payout gets smaller relative to your risk. At -300, you need 75% of your bets to win just to break even. Heavy favorites lose more often than most bettors expect.
When Negative Odds Offer Value
A -150 team isn't automatically a bad bet. If they truly have a 70% chance of winning, -150 (implying 60%) is positive expected value. The market has underpriced them.
The challenge: accurately estimating true probability requires research and data, not just gut feel about which team is better.
[See the no-vig fair price on any bet with Oddible →]
