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Both +200 and -200 are odds in the American format that is most commonly used in the United States.
In sports betting, +200 indicates the underdog and means that you will win $200 if you bet $100—or 2/1 odds. As another example, if you wager $15 on a bet with +200 odds, you would win $30.
On the other hand, -200 indicates the favorite and you would have to bet $200 in order to win $100. If you wagered $15 on a market with -200 odds, as another example, you would win $7.50.
Note that the winning amounts above don’t include what you wagered. If you win a $50 bet on a market with +200 odds, your total payout would be $150 ($100 profit + $50 wagered).