What Does +200 Mean in Betting?
Positive odds explained with payout examples
5 min read
The Quick Answer
+200 means you win $200 profit on a $100 bet.
The plus sign (+) indicates the underdog. The number shows your profit on a $100 wager. At +200, if you bet $100 and win, you get back $300 total—your $100 stake plus $200 profit.
How to Calculate Positive Odds Payouts
The Formula
Profit = (Stake × Odds) ÷ 100
Total Return = Stake + Profit
Real Examples at +200
$25 bet
Profit: $50
Total: $75
$50 bet
Profit: $100
Total: $150
$100 bet
Profit: $200
Total: $300
$200 bet
Profit: $400
Total: $600
Positive Odds Reference Chart
| Odds | Bet | Profit | Total Return | Implied Probability |
|---|---|---|---|---|
| +100 | $100 | $100 | $200 | 50% |
| +125 | $100 | $125 | $225 | 44.4% |
| +150 | $100 | $150 | $250 | 40% |
| +200 | $100 | $200 | $300 | 33.3% |
| +250 | $100 | $250 | $350 | 28.6% |
| +300 | $100 | $300 | $400 | 25% |
| +500 | $100 | $500 | $600 | 16.7% |
| +1000 | $100 | $1000 | $1100 | 9.1% |
Notice: As odds get bigger (+), implied probability gets smaller. A +1000 longshot only has a ~9% chance of winning.
+200 vs -200: What's the Difference?
+200 (Underdog)
Bet $100, win $200 profit
• Total return: $300
• Implied probability: 33.3%
• Risk: Lower $ at risk, higher reward potential
-200 (Favorite)
Bet $200, win $100 profit
• Total return: $300
• Implied probability: 66.7%
• Risk: Higher $ at risk, lower reward potential
The key insight: +200 and -200 have opposite risk/reward profiles. Underdogs pay more but win less often. Favorites win more often but pay less.
Finding Value in Positive Odds
+200 implies a 33.3% win probability. The question is: Is that accurate?
When +200 is a Value Bet
If you estimate the true probability is higher than 33.3%, you've found value. For example:
• Book offers +200 (implies 33.3% chance)
• Your analysis says 40% chance
• That's a +EV bet worth taking
Learn how to identify these spots: What is Expected Value?
Find +EV Underdog Bets Daily
We surface underdog picks where the true probability beats the implied odds.
Frequently Asked Questions
What does +200 mean in sports betting?
+200 means if you bet $100 and win, you receive $200 in profit plus your $100 stake back ($300 total). Positive odds always show how much profit you make on a $100 bet.
Is +200 odds good?
+200 odds imply a 33.3% probability. Whether it's "good" depends on the actual probability. If you think something has a 40%+ chance but it's priced at +200 (33%), that's a value bet.
How much do I win on a $50 bet at +200?
At +200 odds, a $50 bet wins $100 profit. Total return = $150 ($50 stake + $100 profit). The formula is: Profit = (Stake × Odds) ÷ 100.
What is the difference between +200 and -200?
+200 means you win $200 on a $100 bet (underdog). -200 means you must bet $200 to win $100 (favorite). +200 implies 33.3% probability, -200 implies 66.7% probability.
What does +200 mean on a parlay?
In a parlay, +200 on a leg means that selection has underdog odds. Parlay payouts compound—adding +200 legs increases your total payout but also increases risk since all legs must win.