−118 odds: what they mean and what they pay
At −118 you bet $118 to win $100 in profit, $218 back in all. The price implies a 54.13% chance, so you need to win more than 54.13% of these bets to come out ahead.
The same price in every format
| American | −118 |
|---|---|
| Decimal | 1.847 |
| Fractional | 50/59 |
| Implied chance | 54.13% |
| Break-even win rate | 54.13% |
What −118 pays
| Bet | Profit if it wins | Total back |
|---|---|---|
| $10 | $8.47 | $18.47 |
| $25 | $21.19 | $46.19 |
| $50 | $42.37 | $92.37 |
| $100 | $84.75 | $184.75 |
| $250 | $211.86 | $461.86 |
| $1,000 | $847.46 | $1,847.46 |
Is −118 good odds?
It depends on how likely the bet is to win, not on the number itself. −118 is a good price on a side that wins more than 54.13% of the time and a bad one on a side that wins less. If a market kept nothing, the other side of a −118 bet would be +118; 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, −118 makes the side a slight favorite.
What a better price is worth
Find −116 instead of −118 on the same bet and the win rate you need drops from 54.13% to 53.70%. Over 100 bets of $100 that win 54.13% of the time, −118 breaks even and −116 comes out about $79.09 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.
−118 in a parlay
Two legs at −118 combine to decimal 3.413 (about +241): $100 would return $341.31. Each leg's cut compounds, so a parlay keeps more for the book than a single bet. Parlay calculator.
Questions
What does -118 mean in betting?
-118 means you bet $118 to win $100 in profit, returning $218 in all.
How much do I win on a $100 bet at -118?
$84.75 profit, $184.75 back in all if it wins.
What is -118 as a percentage?
-118 implies a 54.13% chance. That's also the share of bets you'd need to win to break even.
What is -118 in decimal odds?
1.847. In fractional odds it's about 50/59.
Is -118 a good bet?
Only if the side wins more than 54.13% 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.