How to Read NFL Odds

Published July 16, 2026 by Statz NFL.

American odds, implied probability and the vig — the three ideas every line on a sportsbook is built from.

American odds in one paragraph

A minus number is what you must stake to win $100: at −110 you risk $110 to win $100. A plus number is what $100 of stake wins: at +150 you risk $100 to win $150. That is the whole encoding — everything else about a betting line is probability wearing that costume.

Implied probability

Every price converts to a break-even probability: implied % = 100 / (decimal odds). At −110 you need 52.4% just to tread water; at +150 you need 40%. If your true win probability is above the implied number, the bet has positive expected value; below it, the book keeps your money over time — no matter how often any single bet lands.

The vig — why both sides add past 100%

Price both sides of a spread at −110 and the implied probabilities sum to 104.8%. That extra 4.8% is the vig — the bookmaker's margin. De-vigging (rescaling both sides to sum to 100%) recovers the market's actual opinion, which is the number our model compares itself against on Best Bets.

Lines move — and differ by book

The same game is priced differently across books, in both line and price. A half point on a spread or three cents on a moneyline is real money over a season, which is why line shopping — always taking the best available price — is the one betting edge that requires no model at all.

Put it to work

Odds Board Every book side by side, best price highlighted.
Best Bets The week's tips, every one graded in public.

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Frequently asked questions

What does −110 mean in NFL betting?

You stake $110 to win $100, a return of $210 in all if the bet wins. It is the standard price on NFL spreads and totals and implies a break-even rate of 52.4%.

What does +150 mean in betting?

A $100 stake wins $150, returning $250 in all. Plus prices mark the underdog side of a bet; the implied probability at +150 is 40%.

How do you convert American odds to probability?

For a minus price, divide the number by itself plus 100: −150 is 150 ÷ 250, or 60%. For a plus price, divide 100 by the number plus 100: +150 is 100 ÷ 250, or 40%.

How do American odds convert to decimal and fractional odds?

For a plus price, divide by 100 and add 1: +150 is 2.50 in decimal, or 6/4 in fractional. For a minus price, divide 100 by the number and add 1: −110 is about 1.91 in decimal, or 10/11 in fractional.

What is the vig in betting?

The bookmaker's margin, built into the prices. At −110 on both sides the implied probabilities add up to 104.8%; the extra 4.8% is the vig, and removing it gives the market's fair probability.