Demystifying Plus 800 Odds: Your Complete Guide

Hey friend! Have you ever been betting on a game and seen odds like +800 for a team? If you scratched your head wondering what those plus odds mean, you‘re in the right place.

As a sports betting stats geek, I‘m going to breakdown exactly how plus odds work, when they offer value, and how to calculate payouts properly. Get ready to become a plus odds pro!

Plus Odds 101

In sports betting lingo, odds that begin with a "+" sign indicate a team is the underdog. The number shows how much you would profit on a $100 bet if they win.

For example, +800 odds mean if you bet $100 on that underdog and they win, you get back $800 in profit plus your original $100 wager.

Simple enough right? To quickly summarize:

• Odds starting with + = the underdog
• The number = profit on $100 bet
• Bigger + number = bigger underdog

Now let‘s really dive into how these plus odds work and how to spot value bets.

Why Bigger Plus Odds = Bigger Underdogs

When you see a bigger number attached to the plus odds, it means the team is a more substantial underdog.

For instance:

• +200 = moderate underdog
• +650 = sizable underdog
• +1500 = major underdog
• +5000 = massive underdog

Bookmakers assign these big plus odds when they perceive the team is very unlikely to win. Of course, sometimes teams with +5000 odds miraculously pull off a shocking upset!

While the big potential payout is alluring, just keep in mind the implied probability of outright victory is low. But we all need those good vibes of our scrappy underdog somehow emerging victorious!

Calculating Your Payouts on Plus Odds

Let‘s walk through some examples so you can see exactly how payout calculations work on plus odds bets.

If you bet $100 on a team at +900 odds, and they end up winning, here is how your total payout would be calculated:

• Your $100 bet at +900 wins $900 profit
• Add your original $100 wager to the $900 profit
• Total payout = $1000

To check payouts on any plus odds bet, simply:

1. Take your Bet Amount
2. Multiply it by the Plus Odds Decimal (Odds/100)
3. Add your Bet Amount

Here‘s the formula:

Bet Amount x (Plus Odds Decimal / 100) = Profit

Bet Amount + Profit = Total Payout

Let‘s try a couple more examples so you can get the hang of it:

• $150 Bet at +750 Odds
• +750 Odds Decimal = 750/100 = 7.5
• $150 x 7.5 = $1,125 Profit
• $150 Bet + $1,125 Profit = $1,275 Total Payout

And one more:

• $200 Bet at +2200 Odds
• +2200 Odds Decimal = 2200/100 = 22
• $200 x 22 = $4,400 Profit
• $200 Bet + $4,400 Profit = $4,600 Total Payout

See how it works? Now you can calculate potential payouts on any plus odds bets like a pro. Let‘s contrast them with minus odds now.

How Plus Odds Differ from Minus Odds

While underdogs have plus odds, the favored team in a contest will be listed with minus odds. For example:

Denver Nuggets +400

Phoenix Suns -250

The minus odds indicate how much you need to risk to win $100 if you bet on the favorite. So on -250 odds, you would need to bet $250 to profit $100 if that team wins.

The big discrepancy in profit between plus and minus odds demonstrates why underdog payouts are so enticing. You‘re being rewarded for taking on increased risk by betting on an upset.

Fun Fact on Plus Odds Probability

Sportsbooks don‘t actually set lines based on potential payouts. Instead they analyze the implied probability for each team.

Based on that probable outcome percentage, the oddsmakers then craft inverted odds to pay out less on likely winners and more on underdogs.

For example, if they give a team a 25% chance to win, they may set plus odds around +300 which pays out 3 to 1.

Why Betting Underdogs with Plus Odds Can Pay Off

While underdogs have lower win probabilities, there are still plenty of situations where betting on them makes sense:

When They Are Underrated by the Oddsmakers

If you have reason to believe a team has better chances than the posted plus odds reflect, you can get great value betting on them as proven underdogs.

To Root for an Upset Victory

Part of sports betting is just having fun and riding the emotional waves. Picking an underdog you want to succeed can make their upset win so much sweeter!

Low Stakes Entertainment

A small wager on a big plus odds underdog provides exciting entertainment potential with only a little money at risk if they lose as expected.

Combining into Parlays

Adding a high plus odds leg into a parlay bet juices up the potential payout drastically at minimal extra cost.

Plus Odds in Popular Sports

While every sport is different, here are some typical plus odds ranges you‘ll often see:

NBA Odds

• Favorites: -200 to -500
• Slight underdogs: +150 to +300
• Large underdogs: +400 to +1000
• Major underdogs: +1500 to +5000

NFL Odds

• Favorites: -150 to -350
• Slight underdogs: +120 to +250
• Moderate underdogs: +300 to +600
• Major underdogs: +800 to +2000
• Extreme underdogs: +2500 to +10000

MLB Odds

• Strong favorites: -300 to -500
• Modest favorites: -150 to -200
• Toss-up underdogs: +120 to +160
• Good underdogs: +180 to +300
• Live underdogs: +350 to +1000

Real World Plus Odds Example

Let‘s look at an actual plus odds betting line:

Los Angeles Lakers vs Boston Celtics

Los Angeles Lakers +360

Boston Celtics -475

The favored Celtics have minus odds of -475, meaning you‘d need to bet $475 just to profit $100 if they win.

Meanwhile, the underdog Lakers have plus odds of +360. A $100 wager on them at those odds would payout $360 in profits plus your original $100 back.

Finding Optimal Value with Plus Odds

Rather than chasing extremely long odds, your best value is finding plus odds in the sweet spot. According to betting industry experts:

• "We recommend looking for underdogs between +200 to +500 for optimal value." – Covers.com

• "Don‘t fall into the trap of betting bombs. Look for underdogs with plus odds in the +300 to +700 range." – WagerTalk

• "The best plus odds range to target is probably +350 to +650. Enough juice to be worth it but not astronomical longshots." – Pregame.com

The sweet spot differs across sports based on how unpredictible they are. But in general, that +200 to +700 window provides the best blend of upset potential and genuine value.

Should You Bet Big Plus Odds Longshots?

What about those juicy looking four digit plus odds like +10000? As tempting as they are, there are definite downsides to betting massive underdogs:

• Very low win probability
• Much harder to predict upsets
• Significantly less valuable than shorter plus odds
• Must bet tiny amounts to mitigate risk

That being said, here are three times when huge plus odds might make sense:

Entertainment Bet with Spare Change

A micro wager on something with +10000 odds can provide hours of hopeful entertainment as a pure fun bet.

Bookie Offering Enhanced Odds

Sometimes bookmakers will boost select plus odds, adding value to even extremely long odds.

Combining into a Low Stakes Parlay

Throwing a team with +8000 odds into a large parlay can juice up the payout drastically with minimal added risk.

Outside of those limited cases, your best bet is focusing on quality plus odds in that +200 to +700 range we discussed earlier.

Betting $100 at +800 Odds – Step by Step

Alright, you‘ve made it this far, so let‘s walk through betting $100 at +800 odds all the way to cashing your ticket!

1. You place a $100 wager on a team at +800 underdog odds

2. The team pulls off the upset victory against all odds!

3. Your payout is calculated as:

   • +800 Odds Decimal = 800/100 = 8
   • $100 Bet x 8 = $800 Profit
   • $100 Bet + $800 Profit = $900 Total Payout

4. You head to the betting window with your winning ticket and walk out with $900 cash!

Now you see exactly how a wager on plus 800 odds would play out step-by-step. Not bad for a $100 bet!

Key Takeaways on Plus Odds

Let‘s do a quick recap of everything we covered on how plus odds work:

• Odds starting with + indicate an underdog
• The number shows potential profit on a $100 bet
• Bigger plus odds means a bigger underdog
• Calculate payouts by taking Bet x (Plus Odds Decimal / 100)
• Compare to minus odds which show the favorite‘s required wager
• Focus on quality plus odds in the +200 to +700 range
• Resist temptation of extremely long odds like +10000

Now you‘re a plus odds expert ready to cash those underdog betting tickets! Please reach out if any other sports betting questions come up. Enjoy the big game payouts when your scrappy underdog pulls off an upset.