In the world of sports betting, +200 is one of the most attractive numbers on the board. It represents a clear “2-to-1” payout: you bet $100 to win $200 profit.
But to answer the question “Is +200 good odds?”, we have to look beyond the potential payout. A bet is only “good” if the probability of winning is higher than the price implies.
The Golden Rule of +200
For a +200 bet to be profitable in the long run, you must win more than 33.3% of the time.
1. The Financials: What You Win
First, let’s establish the reward. +200 odds are excellent in terms of Return on Investment (ROI) for a single wager.
- Profit: 200% of your stake.
- Total Return: 300% (Stake + Profit).
If you bet $50 at +200, you get back $150. You can check payouts for any specific amount using our Odds Converter Calculator.
2. The Math: Implied Probability
This is where professional bettors make their living. Every set of odds can be converted into a percentage called Implied Probability.
The Formula:
100 / (+200 Odds + 100) = 0.3333
This means the bookmaker is saying this event has a 33.33% chance of happening. This is your “Break-Even Point.”
3. The Verdict: When is +200 “Good”?
A bet is “good” (or has Positive Expected Value, +EV) only when your calculated probability is higher than the bookmaker’s implied probability.
Scenario A: A Bad Bet
You bet on a Tennis underdog at +200. However, based on stats, they only beat this opponent 20% of the time.
- Your Win Rate: 20%
- Required Win Rate: 33.3%
- Verdict: BAD BET. Even though the payout is high, you will lose money over time.
Scenario B: A Good Bet
You bet on an NFL team at +200. Your model (or analysis of injuries/weather) suggests they have a 40% chance to win the game.
- Your Win Rate: 40%
- Required Win Rate: 33.3%
- Verdict: GREAT BET. You have a mathematical “edge” of roughly 6.7%.
Not sure if you have an edge? Use our Value Bet & EV Calculator. Input the odds (+200) and your estimated win chance to see if the bet is mathematically sound.
Summary
Is +200 good odds? It depends entirely on the match.
- If the team wins more than 1 out of 3 times: Yes.
- If the team wins less than 1 out of 3 times: No.
Don’t be seduced by the payout alone. Always compare the price (+200) against the true probability of the outcome.