−106 odds: what they mean and what they pay
At −106 you bet $106 to win $100 in profit, $206 back in all. The price implies a 51.46% chance, so you need to win more than 51.46% of these bets to come out ahead.
The same price in every format
| American | −106 |
|---|---|
| Decimal | 1.943 |
| Fractional | 50/53 |
| Implied chance | 51.46% |
| Break-even win rate | 51.46% |
What −106 pays
| Bet | Profit if it wins | Total back |
|---|---|---|
| $10 | $9.43 | $19.43 |
| $25 | $23.58 | $48.58 |
| $50 | $47.17 | $97.17 |
| $100 | $94.34 | $194.34 |
| $250 | $235.85 | $485.85 |
| $1,000 | $943.40 | $1,943.40 |
Is −106 good odds?
It depends on how likely the bet is to win, not on the number itself. −106 is a good price on a side that wins more than 51.46% of the time and a bad one on a side that wins less. If a market kept nothing, the other side of a −106 bet would be +106; 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, −106 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 −105 instead of −106 on the same bet and the win rate you need drops from 51.46% to 51.22%. Over 100 bets of $100 that win 51.46% of the time, −106 breaks even and −105 comes out about $46.23 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.
−106 in a parlay
Two legs at −106 combine to decimal 3.777 (about +278): $100 would return $377.68. Each leg's cut compounds, so a parlay keeps more for the book than a single bet. Parlay calculator.
Questions
What does -106 mean in betting?
-106 means you bet $106 to win $100 in profit, returning $206 in all.
How much do I win on a $100 bet at -106?
$94.34 profit, $194.34 back in all if it wins.
What is -106 as a percentage?
-106 implies a 51.46% chance. That's also the share of bets you'd need to win to break even.
What is -106 in decimal odds?
1.943. In fractional odds it's about 50/53.
Is -106 a good bet?
Only if the side wins more than 51.46% 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.