Understanding the '+' Symbol in Betting: A Comprehensive Guide to This Puzzling Indicator

Introduction

The world of sports betting is filled with its own unique jargon and symbols, and one of the most confusing for newcomers is the '+' symbol. What does it really mean, and how does it affect your bets? In this comprehensive guide, we'll delve into the depths of the '+' symbol and unravel its mysteries.

What Does '+' Mean in Betting?

Simply put, the '+' symbol in betting represents the amount of money that you need to wager in order to win a specified amount. For example, if you see a bet with odds of +100, it means that you need to bet $100 to win $100.

Understanding American Odds (Moneyline)

American odds are the most common format used in sports betting, and they always use the '+' or '-' symbol. Positive odds, denoted by a '+', indicate that the outcome is considered an underdog. Negative odds, denoted by a '-', indicate that the outcome is considered the favorite.

Calculating Payouts

To calculate the payout for a bet with American odds, use the following formula:

Payout = (Bet Amount) x (Odds/100) + (Bet Amount)

For example, if you bet $100 on a team with odds of +100 and they win, your payout would be:

Payout = ($100) x (100/100) + ($100) = $200

Advantages and Disadvantages of Positive Odds

Advantages:

• Higher potential payouts: Bets with positive odds can offer higher potential payouts than bets with negative odds.
• Underdog appeal: Underdogs with positive odds can be appealing to bettors looking for a longshot with a potential for a big payout.

Disadvantages:

• Lower probability: Outcomes with positive odds are considered underdogs, which means they have a lower probability of winning.
• Higher risk: Betting on underdogs with positive odds carries more risk than betting on favorites with negative odds.

Stories and Lessons

Story 1: The Underdog Triumph

In 2023, the Jacksonville Jaguars, an NFL team with abysmal odds of +150, shocked the world by winning the AFC South division. This victory taught bettors the importance of not underestimating underdogs and the potential for high payouts when taking risks.

Lesson: Don't be afraid to bet on underdogs with positive odds, especially when they have a chance to exceed expectations.

Story 2: The False Favorite

In the 2022 NBA Finals, the Golden State Warriors were heavy favorites with odds of -200. However, the Boston Celtics upset them in six games. This upset reminded bettors that even the most favored teams can stumble, and that it's wise to do your research before placing bets.

Lesson: Don't blindly bet on favorites with negative odds. Always consider their current form and potential weaknesses.

Story 3: The Parlay Trap

Parlay bets are a combination of multiple bets into a single wager. While they can offer the potential for high payouts, they also come with a high risk of losing everything. In 2021, a bettor lost a $1 million parlay on eight NFL games by a single point.

Lesson: Be cautious when placing parlay bets. The risk of losing everything is high, and the potential payout may not be worth the risk.

Effective Strategies

• Bankroll management: Manage your betting bankroll wisely and bet only what you can afford to lose.
• Line shopping: Compare odds from different sportsbooks to find the best value for your bets.
• Fade the public: Betting against the majority of the public can sometimes be a profitable strategy.
• Utilize value betting: Bet on outcomes that offer a higher probability of winning than the odds suggest.

Common Mistakes to Avoid

• Betting on every game: Don't bet on every game just for the sake of it. Only bet on games where you have a good understanding of the teams and the matchup.
• Chasing losses: Don't try to chase your losses by placing reckless bets. This is a surefire way to lose even more money.
• Falling for traps: Avoid betting on inflated odds or bonuses that seem too good to be true. Always read the terms and conditions carefully.

Conclusion

Understanding the '+' symbol in betting is crucial for making informed decisions and maximizing your chances of success. By remembering that it represents the underdog, using the correct formula to calculate payouts, and implementing effective strategies, you can improve your betting skills and increase your chances of profiting from the world of sports betting.

Tables

Table 1: Example of American Odds

Table 2: Advantages and Disadvantages of Positive Odds

Table 3: Common Mistakes to Avoid in Betting