−104 odds: what they mean and what they pay
At −104 you bet $104 to win $100 in profit, $204 back in all. The price implies a 50.98% chance, so you need to win more than 50.98% of these bets to come out ahead.
The same price in every format
| American | −104 |
|---|---|
| Decimal | 1.962 |
| Fractional | 25/26 |
| Implied chance | 50.98% |
| Break-even win rate | 50.98% |
What −104 pays
| Bet | Profit if it wins | Total back |
|---|---|---|
| $10 | $9.62 | $19.62 |
| $25 | $24.04 | $49.04 |
| $50 | $48.08 | $98.08 |
| $100 | $96.15 | $196.15 |
| $250 | $240.38 | $490.38 |
| $1,000 | $961.54 | $1,961.54 |
Is −104 good odds?
It depends on how likely the bet is to win, not on the number itself. −104 is a good price on a side that wins more than 50.98% of the time and a bad one on a side that wins less. If a market kept nothing, the other side of a −104 bet would be +104; real books price it worse than that, and the gap is their cut. At −110 on both sides, the most common spread and total price, the cut is 4.76%. Which book keeps the least differs: every sportsbook's cut, measured.
As a price, −104 makes the side close to even: at this price both sides of a game are often priced alike, and the gap from 50% is mostly the book's cut.
What a better price is worth
Find −102 instead of −104 on the same bet and the win rate you need drops from 50.98% to 50.50%. Over 100 bets of $100 that win 50.98% of the time, −104 breaks even and −102 comes out about $96.12 ahead: the same picks, a better price. Books often differ by that much on the same game: the board shows which one pays the most.
−104 in a parlay
Two legs at −104 combine to decimal 3.848 (about +285): $100 would return $384.76. Each leg's cut compounds, so a parlay keeps more for the book than a single bet. Parlay calculator.
Questions
What does -104 mean in betting?
-104 means you bet $104 to win $100 in profit, returning $204 in all.
How much do I win on a $100 bet at -104?
$96.15 profit, $196.15 back in all if it wins.
What is -104 as a percentage?
-104 implies a 50.98% chance. That's also the share of bets you'd need to win to break even.
What is -104 in decimal odds?
1.962. In fractional odds it's about 25/26.
Is -104 a good bet?
Only if the side wins more than 50.98% of the time. The price alone can't tell you: compare it with other sportsbooks' prices on the same bet, since a better price lowers the win rate you need.