−200 odds: what they mean and what they pay
At −200 you bet $200 to win $100 in profit, $300 back in all. The price implies a 66.67% chance, so you need to win more than 66.67% of these bets to come out ahead.
The same price in every format
| American | −200 |
|---|---|
| Decimal | 1.500 |
| Fractional | 1/2 |
| Implied chance | 66.67% |
| Break-even win rate | 66.67% |
What −200 pays
| Bet | Profit if it wins | Total back |
|---|---|---|
| $10 | $5.00 | $15.00 |
| $25 | $12.50 | $37.50 |
| $50 | $25.00 | $75.00 |
| $100 | $50.00 | $150.00 |
| $250 | $125.00 | $375.00 |
| $1,000 | $500.00 | $1,500.00 |
Is −200 good odds?
It depends on how likely the bet is to win, not on the number itself. −200 is a good price on a side that wins more than 66.67% of the time and a bad one on a side that wins less. If a market kept nothing, the other side of a −200 bet would be +200; 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, −200 makes the side a clear favorite.
What a better price is worth
Find −195 instead of −200 on the same bet and the win rate you need drops from 66.67% to 66.10%. Over 100 bets of $100 that win 66.67% of the time, −200 breaks even and −195 comes out about $85.47 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.
−200 in a parlay
Two legs at −200 combine to decimal 2.250 (about +125): $100 would return $225.00. Each leg's cut compounds, so a parlay keeps more for the book than a single bet. Parlay calculator.
Questions
What does -200 mean in betting?
-200 means you bet $200 to win $100 in profit, returning $300 in all.
How much do I win on a $100 bet at -200?
$50.00 profit, $150.00 back in all if it wins.
What is -200 as a percentage?
-200 implies a 66.67% chance. That's also the share of bets you'd need to win to break even.
What is -200 in decimal odds?
1.500. In fractional odds it's about 1/2.
Is -200 a good bet?
Only if the side wins more than 66.67% 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.