+200 is a positive American odds price, meaning you're betting an underdog or a less likely outcome. The "+" sign indicates the profit you'll win on a $100 bet.
Breaking Down +200
- You bet $100
- Your team or outcome wins
- You profit $200
- Total returned: $300 (your $100 stake + $200 profit)
The implied probability of +200 is 33.3% — the sportsbook estimates roughly a 1-in-3 chance of this outcome occurring.
What +200 Looks Like in Practice
NBA moneyline: The Miami Heat are +200 against the Boston Celtics. You bet $50 on Miami. Miami wins. You profit $100 (returned $150 total).
NFL anytime TD scorer: Josh Downs to score a touchdown is +200. You bet $25. He scores. You profit $50.
Futures: A team to win the Super Bowl is listed at +200. You bet $100. They win. You profit $200.
When +200 Has Value
The key question: is the true probability greater than 33.3%? If you think a team has a 40% chance of winning but the price is +200 (implying 33.3%), that's positive expected value. You're getting paid more than the implied probability warrants.
If you think the true probability is 25% but the price is +200, that bet is negative expected value despite the big number.
[Calculate the true EV on any bet with Oddible →]
