If you are looking at a sportsbook and see a team listed at +400, you are looking at a significant “Underdog.” In the world of American Odds (Moneyline), any number with a plus (+) sign indicates how much profit you will make on a $100 wager.
The Short Answer: Odds of +400 mean that for every $100 you bet, you win $400 in profit. Your total payout would be $500 (your $100 stake + $400 profit).
How to Calculate the Payout for +400 Odds
American odds center around the number 100. When the number is positive, the math is straightforward:
- Bet $10: You win $40. (Total Payout: $50)
- Bet $50: You win $200. (Total Payout: $250)
- Bet $100: You win $400. (Total Payout: $500)
Do you have a different stake amount? You don’t need to do the math manually. You can calculate the exact return for any wager amount using our free Odds Converter & Payout Calculator.
Converting +400 to Other Formats
Depending on where you live, you might be more familiar with Decimal or Fractional odds. Here is how +400 translates across different regions:
1. Decimal Odds (Europe/Australia)
To convert positive American odds to decimal, you divide by 100 and add 1.
Math: (400 / 100) + 1 = 5.00
In Decimal format, the stake is included in the number. A 5.00 coefficient means you multiply your money by 5.
2. Fractional Odds (UK/Ireland)
As a fraction, +400 is expressed as 4/1 (Four-to-One).
This means for every 1 unit you stake, you receive 4 units of profit.
The Risk: Implied Probability of +400
A payout of $400 sounds great, but how likely are you to win? Every set of odds has an “Implied Probability”—the percentage chance the bookmaker assigns to that outcome.
The formula for positive odds is: 100 / (Odds + 100).
Math: 100 / (400 + 100) = 100 / 500 = 20%
This means that mathematically, a +400 bet is expected to win only 1 out of every 5 times. If you believe the team actually has a 25% or 30% chance to win, this is considered a “Value Bet.” You can verify this edge using our Value Bet & EV Calculator.
Should You Bet on +400 Odds?
Betting on +400 outcomes is a high-variance strategy. While the returns are high, losing streaks are common. Here is how professionals approach these odds:
- Single Bets: Pros only bet +400 if they have calculated that the probability is higher than 20%.
- Hedging: Sometimes, bettors take a +400 underdog to “hedge” a previous bet. If you need to lock in a profit, use our Hedging Calculator to see exactly how much to stake on the +400 underdog.
- Bankroll Management: Because you will likely lose 80% of the time, you should bet smaller amounts. Use the Kelly Criterion Calculator to find the mathematically safe stake size for high-odds wagers.
Summary
In summary, +400 is a lucrative but risky odd used for underdogs. It pays 4 times your stake in profit.
- Payout: $400 profit on a $100 bet.
- Decimal: 5.00
- Probability: 20%
Always ensure the reward justifies the risk before placing your wager.