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Odds can change at any time, and a team that is listed at +200 one day could easily be listed at +160 the next. You don’t need to bet $100 but this is the simplest way to explain what +200 odds mean in terms of potential payouts. Bet on the defense if there are expanding odds on its side and it needs to make a big play. But the more complex answer has to do with how much you have to wager, what your objective is and how much you’ve lost or won.