−500 odds: what they mean and what they pay
At −500 you bet $500 to win $100 in profit, $600 back in all. The price implies a 83.33% chance, so you need to win more than 83.33% of these bets to come out ahead.
The same price in every format
| American | −500 |
|---|---|
| Decimal | 1.200 |
| Fractional | 1/5 |
| Implied chance | 83.33% |
| Break-even win rate | 83.33% |
What −500 pays
| Bet | Profit if it wins | Total back |
|---|---|---|
| $10 | $2.00 | $12.00 |
| $25 | $5.00 | $30.00 |
| $50 | $10.00 | $60.00 |
| $100 | $20.00 | $120.00 |
| $250 | $50.00 | $300.00 |
| $1,000 | $200.00 | $1,200.00 |
Is −500 good odds?
It depends on how likely the bet is to win, not on the number itself. −500 is a good price on a side that wins more than 83.33% of the time and a bad one on a side that wins less. If a market kept nothing, the other side of a −500 bet would be +500; 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, −500 makes the side a heavy favorite.
What a better price is worth
Find −490 instead of −500 on the same bet and the win rate you need drops from 83.33% to 83.05%. Over 100 bets of $100 that win 83.33% of the time, −500 breaks even and −490 comes out about $34.01 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.
−500 in a parlay
Two legs at −500 combine to decimal 1.440 (about −227): $100 would return $144.00. Each leg's cut compounds, so a parlay keeps more for the book than a single bet. Parlay calculator.
Questions
What does -500 mean in betting?
-500 means you bet $500 to win $100 in profit, returning $600 in all.
How much do I win on a $100 bet at -500?
$20.00 profit, $120.00 back in all if it wins.
What is -500 as a percentage?
-500 implies a 83.33% chance. That's also the share of bets you'd need to win to break even.
What is -500 in decimal odds?
1.200. In fractional odds it's about 1/5.
Is -500 a good bet?
Only if the side wins more than 83.33% 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.