# What Does -162 Mean in Betting?

In betting, the odds are what you need to know. Whether you’re watching sporting events, playing cards, or engaging in any other type of wagers, the chances of one team winning are usually provided. Sometimes, the odds can get really interesting, with some sporting events having massive differences in odds depending on the time of day or location of the betting shop. Let’s take a closer look at what the number -162 means in relation to betting and how to use it effectively.

## More Than Meets The Eye

When you see this symbol followed by a number, it usually means that the bet you’re making has a very high probability of winning. You’re essentially placing a “very large” wager or “super bet” on the outcome of the game. The higher the number following the -162 symbol, the bigger the wager.

In Australia, where I come from, you’ll often see -162 followed by a number in the range of 300 to 600. These are very high odds indeed, and they mean that you’ll need to put down a lot of money (or alternatively win a lot of money) for the chance to come back even or ahead. If you’re new to betting, you should read my guide to betting in Australia, where I explain all the different types of bets and how to place them effectively. It’ll help you understand what these high odds mean and how to use them to your advantage.

## The Meaning of The Number

When you see these odds, they usually mean that there’s some sort of advantage for the other team. For example, if you see -210, this usually indicates that the other team has been given 10 points (or whatever the betting unit is) for every 100 points that they’ve given up. In this case, if you’re making the bet, you’re effectively betting that the other team will lose by 10 or more points. It’s not always that straightforward, but these are generally the sort of odds that you’ll see a lot in relation to football or basketball matches. For more accurate betting advice, you should check the actual points scored in the game versus the points given away and see what the over/under is. For example, if you see that a team scored 111 points and gave away 106, this would yield a plus-5 result (you make a 5-point bet on that game, and you win 5 points back if your team loses by 5 or more points).

## How To Use This Information

If you’re reading this, chances are you’re already familiar with odds. When someone mentions the word “odds,” your brain probably goes right to thoughts of betting and whether or not you’ll come back ahead or behind on a certain wager. While this is understandable, it’s not usually what they mean when they use the term. Let’s take a look at how to effectively use the information that follows the -162 symbol.