−240 odds: what they mean and what they pay
At −240 you bet $240 to win $100 in profit, $340 back in all. The price implies a 70.59% chance, so you need to win more than 70.59% of these bets to come out ahead.
The same price in every format
| American | −240 |
|---|---|
| Decimal | 1.417 |
| Fractional | 5/12 |
| Implied chance | 70.59% |
| Break-even win rate | 70.59% |
What −240 pays
| Bet | Profit if it wins | Total back |
|---|---|---|
| $10 | $4.17 | $14.17 |
| $25 | $10.42 | $35.42 |
| $50 | $20.83 | $70.83 |
| $100 | $41.67 | $141.67 |
| $250 | $104.17 | $354.17 |
| $1,000 | $416.67 | $1,416.67 |
Is −240 good odds?
It depends on how likely the bet is to win, not on the number itself. −240 is a good price on a side that wins more than 70.59% of the time and a bad one on a side that wins less. If a market kept nothing, the other side of a −240 bet would be +240; 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, −240 makes the side a clear favorite.
What a better price is worth
Find −235 instead of −240 on the same bet and the win rate you need drops from 70.59% to 70.15%. Over 100 bets of $100 that win 70.59% of the time, −240 breaks even and −235 comes out about $62.58 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.
−240 in a parlay
Two legs at −240 combine to decimal 2.007 (about +101): $100 would return $200.69. Each leg's cut compounds, so a parlay keeps more for the book than a single bet. Parlay calculator.
Questions
What does -240 mean in betting?
-240 means you bet $240 to win $100 in profit, returning $340 in all.
How much do I win on a $100 bet at -240?
$41.67 profit, $141.67 back in all if it wins.
What is -240 as a percentage?
-240 implies a 70.59% chance. That's also the share of bets you'd need to win to break even.
What is -240 in decimal odds?
1.417. In fractional odds it's about 5/12.
Is -240 a good bet?
Only if the side wins more than 70.59% 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.