−116 odds: what they mean and what they pay
At −116 you bet $116 to win $100 in profit, $216 back in all. The price implies a 53.70% chance, so you need to win more than 53.70% of these bets to come out ahead.
The same price in every format
| American | −116 |
|---|---|
| Decimal | 1.862 |
| Fractional | 25/29 |
| Implied chance | 53.70% |
| Break-even win rate | 53.70% |
What −116 pays
| Bet | Profit if it wins | Total back |
|---|---|---|
| $10 | $8.62 | $18.62 |
| $25 | $21.55 | $46.55 |
| $50 | $43.10 | $93.10 |
| $100 | $86.21 | $186.21 |
| $250 | $215.52 | $465.52 |
| $1,000 | $862.07 | $1,862.07 |
Is −116 good odds?
It depends on how likely the bet is to win, not on the number itself. −116 is a good price on a side that wins more than 53.70% of the time and a bad one on a side that wins less. If a market kept nothing, the other side of a −116 bet would be +116; 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, −116 makes the side a slight favorite.
What a better price is worth
Find −115 instead of −116 on the same bet and the win rate you need drops from 53.70% to 53.49%. Over 100 bets of $100 that win 53.70% of the time, −116 breaks even and −115 comes out about $40.26 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.
−116 in a parlay
Two legs at −116 combine to decimal 3.467 (about +247): $100 would return $346.73. Each leg's cut compounds, so a parlay keeps more for the book than a single bet. Parlay calculator.
Questions
What does -116 mean in betting?
-116 means you bet $116 to win $100 in profit, returning $216 in all.
How much do I win on a $100 bet at -116?
$86.21 profit, $186.21 back in all if it wins.
What is -116 as a percentage?
-116 implies a 53.70% chance. That's also the share of bets you'd need to win to break even.
What is -116 in decimal odds?
1.862. In fractional odds it's about 25/29.
Is -116 a good bet?
Only if the side wins more than 53.70% 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.