−245 odds: what they mean and what they pay
At −245 you bet $245 to win $100 in profit, $345 back in all. The price implies a 71.01% chance, so you need to win more than 71.01% of these bets to come out ahead.
The same price in every format
| American | −245 |
|---|---|
| Decimal | 1.408 |
| Fractional | 20/49 |
| Implied chance | 71.01% |
| Break-even win rate | 71.01% |
What −245 pays
| Bet | Profit if it wins | Total back |
|---|---|---|
| $10 | $4.08 | $14.08 |
| $25 | $10.20 | $35.20 |
| $50 | $20.41 | $70.41 |
| $100 | $40.82 | $140.82 |
| $250 | $102.04 | $352.04 |
| $1,000 | $408.16 | $1,408.16 |
Is −245 good odds?
It depends on how likely the bet is to win, not on the number itself. −245 is a good price on a side that wins more than 71.01% of the time and a bad one on a side that wins less. If a market kept nothing, the other side of a −245 bet would be +245; 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, −245 makes the side a clear favorite.
What a better price is worth
Find −240 instead of −245 on the same bet and the win rate you need drops from 71.01% to 70.59%. Over 100 bets of $100 that win 71.01% of the time, −245 breaks even and −240 comes out about $60.39 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.
−245 in a parlay
Two legs at −245 combine to decimal 1.983 (about −102): $100 would return $198.29. Each leg's cut compounds, so a parlay keeps more for the book than a single bet. Parlay calculator.
Questions
What does -245 mean in betting?
-245 means you bet $245 to win $100 in profit, returning $345 in all.
How much do I win on a $100 bet at -245?
$40.82 profit, $140.82 back in all if it wins.
What is -245 as a percentage?
-245 implies a 71.01% chance. That's also the share of bets you'd need to win to break even.
What is -245 in decimal odds?
1.408. In fractional odds it's about 20/49.
Is -245 a good bet?
Only if the side wins more than 71.01% 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.