−480 odds: what they mean and what they pay
At −480 you bet $480 to win $100 in profit, $580 back in all. The price implies a 82.76% chance, so you need to win more than 82.76% of these bets to come out ahead.
The same price in every format
| American | −480 |
|---|---|
| Decimal | 1.208 |
| Fractional | 5/24 |
| Implied chance | 82.76% |
| Break-even win rate | 82.76% |
What −480 pays
| Bet | Profit if it wins | Total back |
|---|---|---|
| $10 | $2.08 | $12.08 |
| $25 | $5.21 | $30.21 |
| $50 | $10.42 | $60.42 |
| $100 | $20.83 | $120.83 |
| $250 | $52.08 | $302.08 |
| $1,000 | $208.33 | $1,208.33 |
Is −480 good odds?
It depends on how likely the bet is to win, not on the number itself. −480 is a good price on a side that wins more than 82.76% of the time and a bad one on a side that wins less. If a market kept nothing, the other side of a −480 bet would be +480; 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, −480 makes the side a heavy favorite.
What a better price is worth
Find −470 instead of −480 on the same bet and the win rate you need drops from 82.76% to 82.46%. Over 100 bets of $100 that win 82.76% of the time, −480 breaks even and −470 comes out about $36.68 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.
−480 in a parlay
Two legs at −480 combine to decimal 1.460 (about −217): $100 would return $146.01. Each leg's cut compounds, so a parlay keeps more for the book than a single bet. Parlay calculator.
Questions
What does -480 mean in betting?
-480 means you bet $480 to win $100 in profit, returning $580 in all.
How much do I win on a $100 bet at -480?
$20.83 profit, $120.83 back in all if it wins.
What is -480 as a percentage?
-480 implies a 82.76% chance. That's also the share of bets you'd need to win to break even.
What is -480 in decimal odds?
1.208. In fractional odds it's about 5/24.
Is -480 a good bet?
Only if the side wins more than 82.76% 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.