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How American odds work
American odds are built around $100. A minus number tells you how much to stake to win $100: at -150 you risk $150 for $100 of profit. A plus number tells you how much a $100 stake wins: at +130 you profit $130. The favorite carries the minus sign, the underdog the plus. You can stake any amount; the ratio stays the same.
On a hockey board you will see American odds on almost every market. Moneylines carry a minus favorite and a plus underdog, the puck line at 1.5 goals often flips the sign (a moneyline favorite can be plus money at -1.5), and totals sit near -110 on each side. Our moneyline guide and puck line guide show how those prices relate to each other.
From odds to implied probability
Every price hides a probability: the win rate at which the bet breaks even. For minus odds, divide the number by itself plus 100. For plus odds, divide 100 by the number plus 100. So -150 implies 60% and +130 implies about 43.5%. The table lists common prices.
| American | Implied probability | Decimal | Fractional (nearest) |
|---|---|---|---|
| -300 | 75.0% | 1.333 | 1/3 |
| -200 | 66.7% | 1.500 | 1/2 |
| -150 | 60.0% | 1.667 | 2/3 |
| -130 | 56.5% | 1.769 | 10/13 |
| -110Standard line | 52.4% | 1.909 | 10/11 |
| +100Even money | 50.0% | 2.000 | 1/1 |
| +110 | 47.6% | 2.100 | 11/10 |
| +130 | 43.5% | 2.300 | 13/10 |
| +150 | 40.0% | 2.500 | 3/2 |
| +200 | 33.3% | 3.000 | 2/1 |
| +300 | 25.0% | 4.000 | 3/1 |
The probability is the useful number. It lets you compare a moneyline, a puck line and a prop on the same scale, and it tells you what you need to believe before a bet makes sense. If you think a team wins 55% of the time, any price implying less than 55% is worth a look; anything implying more is not.
Base rates from real games help here. Home teams won 52.2% of games in 2025-26, which as a fair price is -109. A home team priced at -170 is being asked to win far more often than the average home team does, so the price has to be justified by the matchup, not by home ice.
Decimal and fractional odds
Decimal odds show the total return per unit staked, including the stake. 2.30 means a $100 bet returns $230. They are the easiest format for math: the implied probability is simply 1 divided by the decimal, and a parlay's price is the decimals of each leg multiplied together, which is how our parlay calculator works.
Fractional odds show profit over stake, like 13/10 or 1/2. You will mostly see them in UK sources and older futures listings. They do not map neatly onto American prices, so treat the fractional result as an approximation. Decimal and probability are exact.
Removing the vig from a two-way line
Add the implied probabilities of both sides of a line and you get more than 100%. On -110 and -110, it is 104.8%. The extra is the overround, and the share of money the book expects to keep is the hold, about 4.55% here.
To get a fair price, divide each side's implied probability by the total. Take the default example in the tool: -150 implies 60.0% and +130 implies 43.5%, together 103.5%. Divided out, the fair probabilities are 58.0% and 42.0%, or -138 and +138 as fair American odds.
This is the simplest way to remove the vig, sometimes called the multiplicative method. Other methods shift more of the margin onto the underdog, because books tend to shade longshots more. For a normal NHL moneyline the difference is small, and the simple method is a sound starting point.
The fair price lets you judge one book's line against another's. If the no-vig line from a sharp market says 58% and another book offers that side at a price implying 54%, the gap is worth noticing, whatever your opinion of the game.
Three-way lines and the 60-minute market
A three-way line has three outcomes: home win in regulation, away win in regulation, or a tie after 60 minutes. Ties are common in hockey. 24.9% of games in 2025-26 were level after regulation, and 24.9% went to overtime or a shootout. As a fair price, that tie rate is about +302.
The no-vig tool above handles two sides. For a three-way line, add all three implied probabilities and divide each by the total, the same idea with one more side. Expect a bigger margin on three-way markets than on the standard moneyline. Our overtime and shootout rules explain which markets include the extra time.
Converter mistakes to avoid
- Typing a number between -100 and +100. -50 or +80 are not American odds. Check for a missing digit.
- Reading implied probability as a forecast. It includes the vig. Use the no-vig figure as the market's estimate.
- Comparing prices across different markets. A 60-minute price and a moneyline settle on different outcomes, so their probabilities are not directly comparable.
- Trusting the fractional result for math. It is the nearest simple fraction, not the exact price.
Once a price is a probability, the next step is to set it against the game itself: who is in net on the starting goalies board, how the teams compare in the power rankings, and what the tonight slate looks like. Sports betting is for adults 21 and older in states where it is legal. If you need help, call 1-800-GAMBLER.
