−115 odds: what they mean and what they pay
At −115 you bet $115 to win $100 in profit, $215 back in all. The price implies a 53.49% chance, so you need to win more than 53.49% of these bets to come out ahead.
The same price in every format
| American | −115 |
|---|---|
| Decimal | 1.870 |
| Fractional | 20/23 |
| Implied chance | 53.49% |
| Break-even win rate | 53.49% |
What −115 pays
| Bet | Profit if it wins | Total back |
|---|---|---|
| $10 | $8.70 | $18.70 |
| $25 | $21.74 | $46.74 |
| $50 | $43.48 | $93.48 |
| $100 | $86.96 | $186.96 |
| $250 | $217.39 | $467.39 |
| $1,000 | $869.57 | $1,869.57 |
Is −115 good odds?
It depends on how likely the bet is to win, not on the number itself. −115 is a good price on a side that wins more than 53.49% of the time and a bad one on a side that wins less. If a market kept nothing, the other side of a −115 bet would be +115; 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, −115 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 −114 instead of −115 on the same bet and the win rate you need drops from 53.49% to 53.27%. Over 100 bets of $100 that win 53.49% of the time, −115 breaks even and −114 comes out about $40.80 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.
−115 in a parlay
Two legs at −115 combine to decimal 3.495 (about +250): $100 would return $349.53. Each leg's cut compounds, so a parlay keeps more for the book than a single bet. Parlay calculator.
Questions
What does -115 mean in betting?
-115 means you bet $115 to win $100 in profit, returning $215 in all.
How much do I win on a $100 bet at -115?
$86.96 profit, $186.96 back in all if it wins.
What is -115 as a percentage?
-115 implies a 53.49% chance. That's also the share of bets you'd need to win to break even.
What is -115 in decimal odds?
1.870. In fractional odds it's about 20/23.
Is -115 a good bet?
Only if the side wins more than 53.49% 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.