The basis of understanding sports gambling is understanding the odds. The odds are basically the multipliers at which your wagers are paid out.

Certain events have different odds because they have a different likelihood of them occurring. The longer the odds the less likely something is to happen, but the more you get paid. The opposite is true for shorter odds.

**Reading Odds**

American odds, also known as Moneyline odds, come in two forms: positive (+) and negative (-).

1. Positive (+) Odds: Positive odds indicate the potential profit on a $100 wager. For example, if you see odds of +200, it means a $100 bet could earn you a profit of $200. Positive odds typically represent the underdog in an event.

2. Negative (-) Odds: Conversely, negative odds denote the amount one must bet to win $100. For instance, odds of -150 suggest you'd need to wager $150 to profit $100. Negative odds commonly represent the favorite in a game.

**Interpreting Implied Probability**

Beyond their representation of potential winnings, American odds provide insight into the implied probability of an outcome.

**Implied Probability:** By converting American odds into implied probability, you can assess the likelihood of an event occurring. For positive odds, divide 100 by the odds plus 100.

For negative odds, divide the odds by the absolute value of the odds plus 100. For instance, +200 odds imply a 33.33% chance of winning, while -150 odds suggest a 60% probability.

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