-195 Odds Explained
- Decimal
- 1.51
- American
- -195
- Fractional
- 20/39
- Implied probability
- 66.10%
- Polymarket
- 66¢
- $100 wins
- 51.28
- American
- -195
- Fractional
- 20/39
- Implied probability
- 66.10%
- Polymarket
- 66¢
- Profit
- 51.28
- Total return
- 151.28
1.513 decimal, -195 American, 66.10% implied probability
American odds of -195 mean
you risk 195 to win 100
. In decimal notation that is 1.51, in fractional notation 20/39, and the implied probability is 66.10%. On a prediction market the same price is a 66¢ share.
What -195 pays
A 100 stake at -195 returns 151.28 in total: your 100 back plus 51.28 profit. To win exactly 100 you would stake 195.00. The table covers the stakes people actually use.
| Stake | Profit | Total return |
|---|---|---|
| 10 | 5.13 | 15.13 |
| 25 | 12.82 | 37.82 |
| 50 | 25.64 | 75.64 |
| 100 | 51.28 | 151.28 |
| 500 | 256.41 | 756.41 |
| 1,000 | 512.82 | 1,512.82 |
Break-even and long-run results
The implied probability of -195 is 66.10%, and that number is also the break-even win rate: win more often than 66.10% 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% | -24.4% |
| 55% | -16.8% |
| 60% | -9.2% |
| 65% | -1.7% |
| 66% | -0.2% |
With an implied probability of 66.10%, -195 is a moderate favourite. Prices in this band are where the bookmaker's margin is easiest to see: the opposite side of the market is usually priced a little longer than the fair line, and the two implied probabilities add up to more than 100%.
The vig at -195
If both sides of a two-way market were priced at -195, the implied probabilities would add up to 32.20% above 100%. That excess is the overround, or vig; as a share of stakes it is a 24.36% 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.
-195 on a betting exchange
Exchanges charge commission on net winnings, so the price you see is not the price you get. At 2% commission -195 is worth 1.503 decimal (-199 American); at 5% it drops to 1.487 (-205). Those are the bookmaker prices you would need to beat.
| Commission | Effective decimal | Effective American | Break-even |
|---|---|---|---|
| 2% | 1.503 | -199 | 66.55% |
| 5% | 1.487 | -205 | 67.24% |
Same price in other formats
Nearby prices
Nearby prices
Frequently asked questions
What does -195 mean in betting?
-195 is an American price. Positive numbers show the profit on a 100 stake; negative numbers show the stake needed to win 100. At -195 the implied probability is 66.10% and a 100 stake returns 151.28.
What is -195 in decimal odds?
-195 converts to 1.513 in decimal odds (usually shown as 1.51). Decimal odds are the total return per unit staked, so multiply your stake by 1.513 to get the return.
What is -195 as a fraction?
-195 is 20/39 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 -195?
A 100 stake at -195 wins 51.28 in profit and returns 151.28 including the stake. To win exactly 100 you would stake 195.00.
What win rate do I need at -195?
The break-even win rate equals the implied probability, 66.10%. Winning more often than that at this price is profitable over the long run; winning less often loses money.