Bram Welch has been writing about sports betting and iGaming for over five years now, starting as a freelancer before joining our team. Previously he worked teaching English as a foreign language and as a journalist for the UK's largest regional newspaper.
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Writer and editor with over 15 years of experience in the iGaming industry, having worked for TeamTalk, ClubCall, Planet Sport and several Tier 1 and Tier 2 sportsbooks. Passionate Middlesbrough FC supporter.
All posts by Andrew Morgan+1000 are sports betting odds in the American odds format, which largely revolves around $100 stakes. Odds of +1000 indicate you would win $1,000 if you place a $100 bet and the bet is successful. This is an implied win probability of 9.09%.
You can find out more about +1000 odds and where you are likely to find them. We also take a look at how American odds work in general.
+1000 Odds Meaning
What does 1000 mean in betting? +1000 implies long odds that indicate you are betting on an underdog. You can garner this as if a sports bettor places a $100 bet and it is successful, they will win $1,000.
You are more likely to see odds of +1000 on futures bets than on moneyline or prop bets. If a basketball team is listed with odds of +1,000 for a moneyline bet, then the sportsbook considers them to be a huge underdog in the particular game.
In this example, the odds of this match between the New Orleans Pelicans and Brooklyn Nets finishing as a tie by the end of regulation play are +1,500. Only 6.26% of all NBA games are still tied at the end of regular time play. This suggests that selections with +1,000 or over have around as much chance of winning as there being a tie in an NBA match.
-1000 Odds Meaning
Positive odds mean something less likely to happen, while a minus sign suggests sports bets that are perceived as more likely to happen. You can make this deduction because -1000 odds indicate that you would need to bet $1,000 to win $100. That means a successful $100 bet returns $10 on a -1000 odds selection. Essentially you win 10 cents for every dollar that you bet.
+1000 Odds In Spreads and Moneylines
Odds of 1000, whether negative or positive, are indicative of probability. The online sportsbooks offering these odds clearly believe that the outcome is either incredibly likely (-1000) or incredibly unlikely (+1000).
In the example below, Orlando Magic are listed with money line odds of -909, which is not too far from -1000.
They are considered quite significant favorites for this match. The makeup of the Eastern Conference at the time of this match goes some way to explaining this. Orlando Magic were fifth in the conference heading into the match with 40 wins under their belt. Conversely, the Charlotte Hornets were 13th, having only recorded 17 wins from a possible 68.
Finding +1000 odds for spread betting will require the use of alternate spread bets but even then they will be difficult to find. Sportsbooks tend to arrange spread bets so that both selections are as close to -100 as possible. This is highlighted perfectly in the example below.
Even handicapping the less favored team using alternate spread bets does not get you close to +1000 odds. This is highlighted in this example involving a match between the eighth-placed Mavericks and the bottom-placed San Antonio Spurs.
It seems you would need to disadvantage the less favored team, the Spurs, using alt points by over 10 points to get close to +1000 odds on a spread bet. That selection is not available at the sports betting site used in the example.
American Odds Explained
The American format of displaying odds is easy to interpret once you know how. Take a look at our how the American odds format works page to learn how to read betting odds.
In cases with two outcomes, the selection with the lowest odds is the favorite. The selection with the highest odds is the less favored outcome. The lower the number, the bigger the favorite. The higher the number, the less favored the selection is.
You can also use the numbers to determine how much you will win. In the case of American odds in a positive format, the number indicates how much you would win if you bet $100. Odds of +150 mean if you stake $100 and the bet wins, you will get back $250 for a $150 profit.
In the case of American odds in a negative format, the number indicates how much you need to stake to win $100. Odds of -150 indicate that if you stake $150 and the bet wins, you would win $250 for a $100 profit. This means a $100 bet would return $166.67 for a $66.67 profit. For negative odds, you can think of them in dollar increments to help work out the winnings; for every $1 wagered, you win $0.67.
| American | Fractional | Decimal |
| +100 | Evens | 2 |
| -100 | Evens | 2 |
| +1000 | 10/1 | 11 |
| -1000 | 1/10 | 1.1 |
How To Calculate American Odds
The formula for calculating a payout from American odds is different depending on whether they are positive or negative.
The formula for working out a payout from American odds that are negative is:
Stake/(Odds/100) = Winnings
A $100 bet on -1000 odds would be:
100/(1000/100) = 100/10 = $10.
A $50 bet on -1000 odds would be:
50/(1000/100) = 50/100 = $5.
The formula for working out a payout from American odds that are positive is:
(Odds/100) x Stake = Winnings
A $100 bet on +1000 odds would be:
(1000/100) x $100 = 10 x $100 = $1,000
A $50 bet on +1000 odds is:
(1000/100) x $50 = 10 x $50 = $500
Conclusion
American odds are centered around $100, whether it is staking this amount or aiming for a $100 win.
Selections with odds of +1000 are seen as long shots with a low implied probability. Selections with odds of -1000 are seen as strong favorites with a high implied probability.
1000 odds, whether negative or positive, are usually associated with future or outright selections. This is because there would have to be a huge gap in the quality of two teams for 1000 odds to appear in moneyline selections. These types of moneyline odds often feature in horse racing though.
There are different formulas for calculating payouts from negative American odds and positive American odds, as we have seen. There are also easy ways of switching between American odds and different formats such as decimal and fractional odds.
Plus 1000 Odds Meaning FAQs
What does +1000 odds mean at an online sportsbook?
What’s the equivalent of +1000 in fractional and decimal odds?
How does +1000 differ from -1000?
