NASCAR: How to read and understand motorsport betting odds

Sports betting has slowly yet somewhat forcefully been introduced to the fan experience when it comes to watching games and sporting events, whether you watch live or on television – or even if you simply follow the action online.

Sportsbook partnerships are everywhere, odds are shown regularly before and during events, and betting discussions are more prominently featured than they have ever been before on talk shows, websites, and more.

Motorsport has been no exception to that trend, and amid the resurgence of legalization of sports betting in the United States, NASCAR, the country's most popular form of motorsport, has specifically been no exception to it.

NASCAR drivers, of course, are not allowed to bet on races. It is purely a fan-based experience. As betting continues to skyrocket in popularity, for better or for worse, its inclusion everywhere you look makes it worth discussing exactly how to figure out what, exactly, is being implied by the odds you seemingly see everywhere you look.

There are a lot of things fans can bet on regarding NASCAR on most major sportsbooks, including individual race winners, head-to-head driver matchups, and even specific results for each driver.

Let's use NASCAR Cup Series championship odds as an example.

At FanDuel Sportsbook, Joe Gibbs Racing's Christopher Bell is listed at +450, making him one of three championship co-favorites along with teammate Denny Hamlin and Hendrick Motorsports' Kyle Larson.

The +450 listing means that if you bet $100 on Bell and Bell wins the championship, you win $450 and can therefore claim a $550 payout.

It's rare in NASCAR that a driver has minus odds, because the series is so competitive; the 2024 season has already produced 12 different winners. But not all odds are pre-race odds. For instance, if a driver is dominating a race, he might be listed at -165 or something, as live odds are also offered on most occasions.

This means that if you bet $165 on that driver and he wins, you win $100 and can therefore claim a $265 payout.

An easy way to think about it is this: "+" means that's how much you win if you bet $100, and "-" means that's how much you have to bet to win $100.

Let's also discuss implied probability.

The implied probability of -165 odds is 62.26% (165/265). The implied probability of +450 odds is 18.18% (100/550).

The addition of all the implied odds for any particular market will always be significantly over 100% to give the sportsbooks a house edge (and to prevent fans from guaranteeing profit by betting on everybody). Sportsbooks aren't in business just to go out of business.

It's why both sides of a 50/50 bet are usually listed at around -110 and -110, implying a total probability of 104.76%.

Odds refresh periodically and are subject to change. If you or someone you know has a gambling problem, call 1-800-GAMBLER.

The next race on the 2024 NASCAR Cup Series schedule is the Cook Out 400, which is set to be broadcast live on USA Network from Richmond Raceway beginning at 6:00 p.m. ET on Sunday, August 11. Start a free trial of FuboTV and don't miss it!