-115 Odds Explained
- Decimal
- 1.87
- American
- -115
- Fractional
- 20/23
- Implied probability
- 53.49%
- Polymarket
- 53¢
- $100 wins
- 86.96
- American
- -115
- Fractional
- 20/23
- Implied probability
- 53.49%
- Polymarket
- 53¢
- Profit
- 86.96
- Total return
- 186.96
1.870 decimal, -115 American, 53.49% implied probability
-115 is an American price:
the minus sign marks a favourite, and the number is the stake needed to win 100
. Every other format describes the same chance: 1.87 decimal, 20/23 fractional, 53.49% implied probability, 53¢ on Polymarket.
What -115 pays
A 100 stake at -115 returns 186.96 in total: your 100 back plus 86.96 profit. To win exactly 100 you would stake 115.00. The table covers the stakes people actually use.
| Stake | Profit | Total return |
|---|---|---|
| 10 | 8.70 | 18.70 |
| 25 | 21.74 | 46.74 |
| 50 | 43.48 | 93.48 |
| 100 | 86.96 | 186.96 |
| 500 | 434.78 | 934.78 |
| 1,000 | 869.57 | 1,869.57 |
Break-even and long-run results
The implied probability of -115 is 53.49%, and that number is also the break-even win rate: win more often than 53.49% of the time at this price and you profit in the long run, win less often and you lose. The table shows the return on stake at a few win rates, including the break-even rate itself.
| Win rate | Return on stake |
|---|---|
| 50% | -6.5% |
| 53% | -0.9% |
| 55% | 2.8% |
| 60% | 12.2% |
| 65% | 21.5% |
An implied probability of 53.49% makes -115 a near-even price. This is the natural home of handicap and over/under markets, where the bookmaker adjusts the line rather than the price and both sides are quoted a shade under 2.00 decimal.
The vig at -115
If both sides of a two-way market were priced at -115, the implied probabilities would add up to 6.98% above 100%. That excess is the overround, or vig; as a share of stakes it is a 6.52% margin for the bookmaker. Removing it leaves fair odds of 2.00 decimal ( +100) on each side. Use the devig calculator to do the same for any market.
-115 on a betting exchange
Exchanges charge commission on net winnings, so the price you see is not the price you get. At 2% commission -115 is worth 1.852 decimal (-117 American); at 5% it drops to 1.826 (-121). Those are the bookmaker prices you would need to beat.
| Commission | Effective decimal | Effective American | Break-even |
|---|---|---|---|
| 2% | 1.852 | -117 | 53.99% |
| 5% | 1.826 | -121 | 54.76% |
Same price in other formats
Same price in other formats
Nearby prices
Nearby prices
Frequently asked questions
What does -115 mean in betting?
-115 is an American price. Positive numbers show the profit on a 100 stake; negative numbers show the stake needed to win 100. At -115 the implied probability is 53.49% and a 100 stake returns 186.96.
What is -115 in decimal odds?
-115 converts to 1.870 in decimal odds (usually shown as 1.87). Decimal odds are the total return per unit staked, so multiply your stake by 1.870 to get the return.
What is -115 as a fraction?
-115 is 20/23 in fractional odds, the traditional bookmaker notation where the top number is profit and the bottom number is stake.
How much do I win on a 100 bet at -115?
A 100 stake at -115 wins 86.96 in profit and returns 186.96 including the stake. To win exactly 100 you would stake 115.00.
What win rate do I need at -115?
The break-even win rate equals the implied probability, 53.49%. Winning more often than that at this price is profitable over the long run; winning less often loses money.