Introduction
If you're new to sports betting, you've probably seen odds listed as +150, -200, or something similar. At first glance, it looks confusing — but once you understand how to read these numbers, betting becomes a lot clearer.
In this guide, we'll explain exactly what +150 odds mean, how much you could win with a $10 or $100 bet, and why beginners often misunderstand them. At the end, we'll also show how BetChekr makes it simple by converting odds into probabilities and payouts automatically.
Understanding American Odds (+/- System)
Sportsbooks in North America usually use American odds:
The team less likely to win
The team expected to win
So when you see +150, it means the team is the underdog.
Quick Examples:
💡 This system tells you two things instantly:How much risk is needed and which side is expected to win more often.
Converting Odds to Probability
Odds aren't just about money — they also represent the implied chance of winning.
For +150:
40% chance to win
For −150:
60% chance to win
So when you see +150, the sportsbook is saying, "This team has about a 40% chance of winning."
Example: A +150 Bet Slip
Here's what a BetChekr slip looks like when analyzing +150 odds:
BETCHEKR
BET SLIP
Pick: Raptors Moneyline
Odds: +150 (Underdog)
Sportsbook: Caesars
($50 stake + $75 profit)
BetChekr Analysis: 40% implied win chance. Good risk/reward if you believe Raptors have a higher chance than 40%.
Why Beginners Misinterpret +150
Most new bettors assume underdogs are "bad bets" just because the odds are higher. The truth:
Betting underdogs at the right price can be profitable long-term.
Favorites (−200, −300) often look safe but carry hidden risk.
How BetChekr Makes This Easy
Instead of you doing all the math, BetChekr instantly converts odds like +150 into win % and payouts.
Upload your bet slip → see if it's Trash or Cash
BetChekr auto-calculates implied probability
You'll know if your bet has real value or if the sportsbook is overpricing it
💡 In short: with BetChekr, you don't just guess — you bet smarter.