What does -120 mean in betting?
-120 means you risk $120 to win $100, or $12 to win $10. The price says it wins 54.5% of the time, so you need to win more than 54.5% of your bets at -120 to make money.
In plain words
-120 is close to a coin flip with the book's cut built in. It usually sits across from +100 on the other side of a spread, a total or a player prop.
Add the two chances: 54.5% + 50.0% = 104.5%. The extra 4.5% is the book's cut, called the juice or the vig. It is why you need 54.5% at -120, not 50%, to break even.
This is where shopping for the price pays most. The same pick at -115 instead of -120 wins $3.62 more on every $100 bet that wins.
Where you see -120
Common on player props and totals that the book leans toward. Across from it you often see +100 on the other side.
100 bets at -120
| Win rate | Wins in 100 | Result on 100 bets of $10 |
|---|---|---|
| 51.5% | 51.5 | -$55 |
| 54.5% (break-even) | 54.5 | $0 |
| 57.5% | 57.5 | +$55 |
Three points above break-even turns 100 bets of $10 at -120 into about $55 of profit; three points below loses about the same. The edge is the few points, not the pick.
Prices next to -120
| Price | Chance | $10 wins | Bet to win $100 |
|---|---|---|---|
| -140 | 58.3% | $7.14 | $140 |
| -130 | 56.5% | $7.69 | $130 |
| -125 | 55.6% | $8 | $125 |
| -120 | 54.5% | $8.33 | $120 |
| -115 | 53.5% | $8.70 | $115 |
| -110 | 52.4% | $9.09 | $110 |
| -105 | 51.2% | $9.52 | $105 |
One step better for you, -115 pays $3.62 more than -120 on every $100 bet that wins.
Convert -120 or any other price, see what a ticket pays, or get a suggested bet size for your bankroll.
Questions
What does -120 mean in betting?
-120 means you risk $120 to win $100, or $12 to win $10. The price says it wins 54.5% of the time, so you need to win more than 54.5% of your bets at -120 to make money.
How much does a $10 bet win at -120?
$8.33 in profit. You get $18.33 back in total: your $10 plus the win. A $100 bet wins $83.33.
What win rate do I need at -120?
More than 54.5% to make money over time. That is the price's implied chance, also called the break-even rate.
What is -120 in decimal odds?
1.83. A $1 bet returns $1.83 in total. As a fraction it is 5/6.
How much juice is in -120?
With +100 on the other side, the two implied chances add up to 104.5%, so the book's cut is about 4.5% of the market.
One pick a day, free, with its price, the book and a suggested bet size, posted at least 30 minutes before the game. Every result stays public.
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