−108 odds: what they mean and what they pay
At −108 you bet $108 to win $100 in profit, $208 back in all. The price implies a 51.92% chance, so you need to win more than 51.92% of these bets to come out ahead.
The same price in every format
| American | −108 |
|---|---|
| Decimal | 1.926 |
| Fractional | 25/27 |
| Implied chance | 51.92% |
| Break-even win rate | 51.92% |
What −108 pays
| Bet | Profit if it wins | Total back |
|---|---|---|
| $10 | $9.26 | $19.26 |
| $25 | $23.15 | $48.15 |
| $50 | $46.30 | $96.30 |
| $100 | $92.59 | $192.59 |
| $250 | $231.48 | $481.48 |
| $1,000 | $925.93 | $1,925.93 |
Is −108 good odds?
It depends on how likely the bet is to win, not on the number itself. −108 is a good price on a side that wins more than 51.92% of the time and a bad one on a side that wins less. If a market kept nothing, the other side of a −108 bet would be +108; 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, −108 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 −106 instead of −108 on the same bet and the win rate you need drops from 51.92% to 51.46%. Over 100 bets of $100 that win 51.92% of the time, −108 breaks even and −106 comes out about $90.71 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.
−108 in a parlay
Two legs at −108 combine to decimal 3.709 (about +271): $100 would return $370.92. Each leg's cut compounds, so a parlay keeps more for the book than a single bet. Parlay calculator.
Questions
What does -108 mean in betting?
-108 means you bet $108 to win $100 in profit, returning $208 in all.
How much do I win on a $100 bet at -108?
$92.59 profit, $192.59 back in all if it wins.
What is -108 as a percentage?
-108 implies a 51.92% chance. That's also the share of bets you'd need to win to break even.
What is -108 in decimal odds?
1.926. In fractional odds it's about 25/27.
Is -108 a good bet?
Only if the side wins more than 51.92% 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.