+120 odds: what they mean and what they pay
At +120 a $100 bet wins $120.00 in profit, $220.00 back in all. The price implies a 45.45% chance, so you need to win more than 45.45% of these bets to come out ahead.
The same price in every format
| American | +120 |
|---|---|
| Decimal | 2.200 |
| Fractional | 6/5 |
| Implied chance | 45.45% |
| Break-even win rate | 45.45% |
What +120 pays
| Bet | Profit if it wins | Total back |
|---|---|---|
| $10 | $12.00 | $22.00 |
| $25 | $30.00 | $55.00 |
| $50 | $60.00 | $110.00 |
| $100 | $120.00 | $220.00 |
| $250 | $300.00 | $550.00 |
| $1,000 | $1,200.00 | $2,200.00 |
Is +120 good odds?
It depends on how likely the bet is to win, not on the number itself. +120 is a good price on a side that wins more than 45.45% of the time and a bad one on a side that wins less. If a market kept nothing, the other side of a +120 bet would be −120; 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, +120 makes the side a slight underdog.
What a better price is worth
Find +125 instead of +120 on the same bet and the win rate you need drops from 45.45% to 44.44%. Over 100 bets of $100 that win 45.45% of the time, +120 breaks even and +125 comes out about $227.27 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.
+120 in a parlay
Two legs at +120 combine to decimal 4.840 (about +384): $100 would return $484.00. Each leg's cut compounds, so a parlay keeps more for the book than a single bet. Parlay calculator.
Questions
What does +120 mean in betting?
+120 means a $100 bet wins $120 in profit, returning $220 in all.
How much do I win on a $100 bet at +120?
$120.00 profit, $220.00 back in all if it wins.
What is +120 as a percentage?
+120 implies a 45.45% chance. That's also the share of bets you'd need to win to break even.
What is +120 in decimal odds?
2.200. In fractional odds it's about 6/5.
How often does a +120 bet win?
The price implies 45.45%, about 45 times in 100. The real chance can be higher or lower; the price includes the book's cut.