High vs Low Odds in Sports Betting: What Is Better?

In sports betting, “low” and “high” describe your potential return, not your chance of winning in real-world terms.

• High odds mean a lower chance of winning but a bigger payout if you do.
• Low odds means you’re likely to win but will earn less.

There’s no official cutoff, but most bettors consider odds of up to +100 low, while +200 and above are high.

Here’s how that looks in action:

• A $100 bet at +400 wins $400 in profit (for a $500 total return).
• A $100 bet at -150 wins about $66 in profit (for a $166 total return).

Both bets could be smart; it just depends on what you want from your wager. Low odds are like steady savings; high odds are like taking a big swing when you see an opportunity.

For example, backing a strong favorite at -200 offers a safer path if you want steady results. Betting on a long shot at +500 is riskier but can be worth it when the matchup feels undervalued or the sportsbook line seems off.

Let’s explore the major pros and cons of both options in practical terms next.

High-odds bets are where the action feels bigger, and so do the swings. These wagers involve underdogs and unlikely outcomes, but when they hit, the reward is worth the risk.

Pros of High Odds

• Larger Payouts: Winning one high-odds bet can cover several small losses, especially when you spot value others miss.
• Qualify for More Promotion: Many betting bonuses or loyalty programs reward high-odds bets because of the extra risk involved.
• Thrill and Variety: Betting high odds adds excitement that’s difficult to achieve with low prices.

Cons of High Odds

• Lower Win Rate: You’ll lose more often, so variance can be tough on smaller bankrolls.
• Requires Patience: Even with good analysis, it can take time for value bets to balance out your losses.
• Bankroll Volatility: Without discipline, a few losses in a row can wipe out progress quickly.
• Emotions Management: The highs and lows can lead to chasing losses if you’re not careful.

High odds work best for bettors who can handle swings and prefer rare big hits to consistent small wins. They also pair well with conservative bankroll management, so if you prefer to only place a minimal chunk of your money, targeting high odds is a solid choice.

Low-odds bets are a common choice for newer bettors and those who prefer a slow-and-steady approach. They trade big wins for consistency.

Pros of Low Odds

• Higher Win Probability: Low odds mean your pick is more likely to win. +100 equals an implied probability of 50%, and anything lower is above that.
• Steadier Results: Because low-odds bets win more often, your bankroll moves in smaller, more predictable steps.
• Flexible Bankroll Management: You can afford to bet a bigger chunk of your bankroll because variance is significantly lower.
• Easier Tracking and Learning: Consistent wins help you test strategies without major bankroll swings.

Cons of Low Odds

• Smaller Returns: Even frequent wins may barely outpace losses unless your accuracy is strong.
• Can Feel Slow or Boring: The low risk can make the betting experience less exciting.
• Not Always Worth the Juice: Some favorites are so heavily priced that your return barely justifies the risk.
• Limited Bonus Impact: Some sports betting sites promotions require higher-odds wagers for you to qualify for bonuses or free-bet rollover.

Low odds are ideal if you value reliability over adrenaline. They’re especially good for bettors focused on long-term bankroll management. This is something you can read more about in our bankroll management strategy guide.