-480 Odds Explained
- Decimal
- 1.21
- American
- -480
- Fractional
- 5/24
- Implied probability
- 82.76%
- Polymarket
- 83¢
- $100 wins
- 20.83
- American
- -480
- Fractional
- 5/24
- Implied probability
- 82.76%
- Polymarket
- 83¢
- Profit
- 20.83
- Total return
- 120.83
1.208 decimal, -480 American, 82.76% implied probability
The price -480 converts to 1.21 decimal odds and 5/24 fractional odds. Read as a probability it says the bookmaker prices this outcome at 82.76%, which is the share of the time you would need to win just to break even. A prediction market would quote the same chance as 83¢.
What -480 pays
A 100 stake at -480 returns 120.83 in total: your 100 back plus 20.83 profit. To win exactly 100 you would stake 480.00. The table covers the stakes people actually use.
| Stake | Profit | Total return |
|---|---|---|
| 10 | 2.08 | 12.08 |
| 25 | 5.21 | 30.21 |
| 50 | 10.42 | 60.42 |
| 100 | 20.83 | 120.83 |
| 500 | 104.17 | 604.17 |
| 1,000 | 208.33 | 1,208.33 |
Break-even and long-run results
The implied probability of -480 is 82.76%, and that number is also the break-even win rate: win more often than 82.76% 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% | -39.6% |
| 55% | -33.5% |
| 60% | -27.5% |
| 65% | -21.5% |
| 83% | 0.3% |
A price of -480 is deep odds-on. Bookmakers quote it when an outcome is close to a formality, and the margin they take is proportionally large at this end of the market. Sharp bettors tend to look at the other side of such a market, or at the exchange, where the same favourite is often available a tick or two better.
The vig at -480
If both sides of a two-way market were priced at -480, the implied probabilities would add up to 65.52% above 100%. That excess is the overround, or vig; as a share of stakes it is a 39.58% 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.
-480 on a betting exchange
Exchanges charge commission on net winnings, so the price you see is not the price you get. At 2% commission -480 is worth 1.204 decimal (-490 American); at 5% it drops to 1.198 (-505). Those are the bookmaker prices you would need to beat.
| Commission | Effective decimal | Effective American | Break-even |
|---|---|---|---|
| 2% | 1.204 | -490 | 83.04% |
| 5% | 1.198 | -505 | 83.48% |
Same price in other formats
Nearby prices
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Frequently asked questions
What does -480 mean in betting?
-480 is an American price. Positive numbers show the profit on a 100 stake; negative numbers show the stake needed to win 100. At -480 the implied probability is 82.76% and a 100 stake returns 120.83.
What is -480 in decimal odds?
-480 converts to 1.208 in decimal odds (usually shown as 1.21). Decimal odds are the total return per unit staked, so multiply your stake by 1.208 to get the return.
What is -480 as a fraction?
-480 is 5/24 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 -480?
A 100 stake at -480 wins 20.83 in profit and returns 120.83 including the stake. To win exactly 100 you would stake 480.00.
What win rate do I need at -480?
The break-even win rate equals the implied probability, 82.76%. Winning more often than that at this price is profitable over the long run; winning less often loses money.