Decoding the sportsbook: What does + and – mean in betting?

The first thing to understand is that a plus or minus sign does not have one fixed meaning. Odds of -150 tell you something different from a -5.5 point spread, even though the same symbol is used for both. One controls the payout, while the other adjusts the score for settlement.

Here at the ToonieBet online casino and sportsbook, you can change the displayed odds format. American odds are the focus below because they place a sign beside each price. We will then move on to spreads and totals, where signed numbers can appear together. Players must be 19 or older and physically located in the country to wager.

The Quick Translation: What Does Plus and Minus Mean in Betting?

On American odds, a negative price normally identifies the favourite and shows the stake required to make $100. A positive price shows the profit from a successful $100 wager.

On a spread, the sign has nothing to do with that $100 reference point. A team at -4.5 gives away 4.5 points for settlement, while the side at +4.5 receives them. Of course, this is only a virtual handicap and the final score remains unchanged.

Here is how the difference looks with specific numbers as examples:

• Toronto -150 on the moneyline: A $150 winning stake makes $100 in profit.
• Ottawa +150 on the moneyline: A $100 winning stake makes $150 in profit.
• Toronto -5.5 on the spread: Toronto must win by at least six points.
• Ottawa +5.5 on the spread: Ottawa can win outright or lose by no more than five points.

So, what does the + and – mean in sports betting if one selection reads Toronto -5.5 (-110)? The -5.5 is the spread, while -110 is the price and requires a $110 winning stake to make $100, meaning the total return would sit at $210.

Context 1: What Does – and + Mean in Betting Odds (The Moneyline)?

Under a standard two-way moneyline, you select the team or player that will win. The margin does not matter, but you should check whether overtime or another tiebreaker forms part of settlement.

Price gives a rough indication of how likely each result is considered to be. A -250 favourite is priced as more likely to win than a +250 underdog, but either side can still win, obviously, as upsets can happen.

You can put an exact percentage beside those prices too. For negative odds, divide the absolute number by that number plus 100, for example, -160 comes to 61.54%. With a positive price, divide 100 by the odds plus 100, making +180 equal to 35.71%. These are break-even figures before the sportsbook margin is removed, not promises about the final result.

Reading the Minus (-) Payouts

Minus odds show how much players must stake to make $100 in profit. For example, if the Toronto Maple Leafs are -160, a successful $160 wager makes $100 and returns $260 in total.

The calculation is:

• Profit = Stake x (100 / Absolute Value of the Odds)

Let’s say you bet $40 at -160. Dividing 100 by 160, then multiplying by $40, gives $25 in potential profit and a $65 return, while a loss costs the whole $40 stake.

Moving farther below zero shortens the price. A $100 win makes $50 at -200, but only $25 at -400. The more negative the odds, the more likely the selection is considered to win, meaning a larger stake is required for the same potential profit.

Reading the Plus (+) Payouts

The opposite is true for plus odds, as these show the potential profit from a $100 wager. Take the Ottawa Senators at +180. A successful $100 wager makes $180 in profit, with the initial stake bringing the total return to $280.

For other stake sizes, use this formula:

• Profit = Stake x (Positive Odds / 100)

A $25 bet at +180 makes $45 in profit ($25 x (180 / 100, creating a $70 return in total. Of course, you don’t have to worry about manually calculating the potential winnings before each wager, as our bet slips show these values before you confirm.

Payout Cheat Sheet: Pluses vs. Minuses

Here’s a look at the potential winnings for some different plus and minus odds, based on a $20 stake size: 

American Odds	Potential Profit	Total Potential Return
-200	$10.00	$30.00
-125	$16.00	$36.00
+125	$25.00	$45.00
+200	$40.00	$60.00

Odds of +100 are often called even money because the potential profit matches the stake. A $20 win makes $20 and returns $40. By comparison, odds of -110 require $110 to make $100, so -110 should not be treated as even money.

You may still see minus prices on both sides of a close market. Two selections at -110 do not represent two favourites. Instead, each has a break-even probability of about 52.38%, with the amount above a combined 100% reflecting the margin built into the prices.

Context 2: What Does the Plus and Minus Mean in Betting Spreads?

Once we move onto a spread, the symbols take on a different job. Sports betting lines apply a virtual scoring adjustment, with the payout displayed through a separate price.

Basketball and football use point spreads most often, although similar handicaps appear in other sports. Hockey calls its standard version a puck line, while baseball uses a run line. Regardless of the terminology used, make sure to check whether overtime or extra innings count as part of the settlement. 

The Minus (-) Point Spread

Let’s use Toronto Raptors -7.5 against the Boston Celtics for a minus point spread example. Toronto must win by at least eight because 7.5 is subtracted from its score. A 112-104 victory covers by half a point after the adjustment.

Should Toronto win by seven, the -7.5 wager loses. There is no push available on this line because the actual scoring margin cannot finish on half a point.

Whole-number spreads can land exactly, for example, if Toronto is -7 and wins by seven, a standard two-way spread normally pushes, and the stake is returned. If the selection is part of a parlay, the pushed leg is normally removed and the remaining legs continue at adjusted odds.

The Plus (+) Point Spread

Boston +7.5 takes the other side of the same handicap. An outright Boston win covers, but so does a defeat by seven points or fewer. Lose by eight, and the wager is unsuccessful. This sign only shows that Boston receives points on the selected spread, as an alternate line can give positive points to a team that remains favoured on the moneyline.

For example, Boston could be -225 to win the game but +2.5 at a very short spread price. Boston remains the moneyline favourite, yet it receives points on that alternate market. The line is easier to cover, and the reduced potential payout reflects that.

Now look at Boston +7.5 at American odds of -110. The +7.5 controls settlement, while -110 prices the wager. If the price moves to -120, Boston still receives 7.5 points, but $120 is now required to make $100.

Totals: What Does Over and Under Mean in Betting?

Here, the winning team is no longer the main thing to consider. Basketball and football totals combine both teams’ points, while hockey uses their goals. There are also player totals and team totals that follow the same premise. 

Defining the Over/Under Line

Suppose the total for a Toronto Maple Leafs game is 6.5 goals. Over 6.5 needs at least seven combined goals, while Under 6.5 wins if the teams finish with six or fewer. A 4-3 score settles the Over, whereas 3-2 settles the Under.

Because 6.5 cannot be matched exactly, neither selection can push. At a whole-number total of 6, exactly six goals normally return the stake, but overtime and shootout goals are only counted if the rules specify they do.

Why Do Over/Under Bets Have Minus Signs?

A total may be displayed as Over 6.5 (-115) and Under 6.5 (-105). In both cases, 6.5 is the number of goals used for settlement. The prices in brackets control the payout and do not add anything to or subtract anything from the total.

Backing the Over at -115 means a successful $115 stake makes $100 in profit. At -105, the Under only requires $105 to make the same amount, so it carries the slightly longer price. Both wagers are still judged against the same 6.5-goal line.

Positive prices can appear on totals too. If Over 7.5 is +130, a $100 win makes $130, but at least eight goals are still required.

Putting It All Together: Reading a Full Sportsbook Line

A sportsbook line should not be read as one long number. Check the market and its settlement rules first, then identify the selection and line before using the separate odds to calculate the potential return. 

Before confirming the wager, check each of these details:

• MarketPeriod: Does the bet cover the full game, regulation, one half, or another listed segment?
• Selection: Make sure the correct team, player, over or under appears on the slip.
• Line: Record the spread or total because it may move before the event begins.
• Price: Check the odds used to calculate your potential profit and total return.

The process remains the same during live sports betting, but numbers can change as the score develops. A basketball team may move from +4.5 to -2.5 after taking the lead, and its price can shift at the same time. 

Example: Toronto Raptors vs. Boston Celtics

The sample board below uses two real NBA teams. These figures are illustrative and do not represent current ToonieBet prices: 

Market	Toronto Raptors	Boston Celtics
Moneyline	+190	-225
Point Spread	+5.5 (At odds of -110)	-5.5 (At odds of -110)
Game Total	Over 224.5 (At odds of -105)	Under 224.5 (At odds of -115)

Boston -225 requires $225 to make $100, while a successful $100 wager on Toronto +190 makes $190, and neither moneyline carries a margin requirement.

On the spread, Boston must win by six or more to cover -5.5. Toronto +5.5 wins outright or through a defeat by no more than five, while -110 prices each side.

Over 224.5 needs at least 225 combined points, while Under wins with 224 or fewer. At these prices, $21 on the Over makes $20, while the same profit on the Under requires $23.

FAQ: Decoding Betting Symbols

1 Can Both Teams Have Negative Odds?

Yes, a close two-way market may show odds of -110 on both selections because the sportsbook margin is included within each price.

2 Is -200 Better Than +200?

Neither is automatically better. The -200 selection is priced as more likely to win, but it returns less profit relative to the stake, while odds of +200 offer a larger payout because the market considers that result less likely.

3 What Does +1.5 Mean on a Hockey Puck Line?

A hockey puck line of +1.5 means that the selected team receives 1.5 goals for settlement. It covers by winning the game or losing by exactly one goal. A defeat by two or more goals causes the wager to lose, and the separate price beside +1.5 determines the payout.

4 Do Plus Odds Guarantee More Money Back Than Minus Odds?

Only if equal stake sizes are being compared. A $20 bet at +150 has more potential profit than $20 at -150, but either selection can lose. Set the wager from a fixed entertainment budget and never increase it solely to recover an earlier loss.

This content is provided for general informational and entertainment purposes only and does not constitute betting advice, financial advice, or a recommendation to place any wager. Odds are subject to change. Online wagering involves risk, and there is no guarantee of success or profit. For Ontario residents, participation in regulated online gaming is restricted to individuals 19 years of age or older. Please play responsibly. If gambling is no longer fun or may be causing harm, support is available through recognized gambling resources like ConnexOntario. Terms and conditions apply where applicable.