−380 odds: what they mean and what they pay
At −380 you bet $380 to win $100 in profit, $480 back in all. The price implies a 79.17% chance, so you need to win more than 79.17% of these bets to come out ahead.
The same price in every format
| American | −380 |
|---|---|
| Decimal | 1.263 |
| Fractional | 5/19 |
| Implied chance | 79.17% |
| Break-even win rate | 79.17% |
What −380 pays
| Bet | Profit if it wins | Total back |
|---|---|---|
| $10 | $2.63 | $12.63 |
| $25 | $6.58 | $31.58 |
| $50 | $13.16 | $63.16 |
| $100 | $26.32 | $126.32 |
| $250 | $65.79 | $315.79 |
| $1,000 | $263.16 | $1,263.16 |
Is −380 good odds?
It depends on how likely the bet is to win, not on the number itself. −380 is a good price on a side that wins more than 79.17% of the time and a bad one on a side that wins less. If a market kept nothing, the other side of a −380 bet would be +380; 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, −380 makes the side a heavy favorite.
What a better price is worth
Find −370 instead of −380 on the same bet and the win rate you need drops from 79.17% to 78.72%. Over 100 bets of $100 that win 79.17% of the time, −380 breaks even and −370 comes out about $56.31 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.
−380 in a parlay
Two legs at −380 combine to decimal 1.596 (about −168): $100 would return $159.56. Each leg's cut compounds, so a parlay keeps more for the book than a single bet. Parlay calculator.
Questions
What does -380 mean in betting?
-380 means you bet $380 to win $100 in profit, returning $480 in all.
How much do I win on a $100 bet at -380?
$26.32 profit, $126.32 back in all if it wins.
What is -380 as a percentage?
-380 implies a 79.17% chance. That's also the share of bets you'd need to win to break even.
What is -380 in decimal odds?
1.263. In fractional odds it's about 5/19.
Is -380 a good bet?
Only if the side wins more than 79.17% 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.