+104 Odds Explained
- Decimal
- 2.04
- American
- +104
- Fractional
- 26/25
- Implied probability
- 49.02%
- Polymarket
- 49¢
- $100 wins
- 104.00
- American
- +104
- Fractional
- 26/25
- Implied probability
- 49.02%
- Polymarket
- 49¢
- Profit
- 104.00
- Total return
- 204.00
2.040 decimal, +104 American, 49.02% implied probability
+104 is an American price:
the plus sign marks an underdog, and the number is the profit on a 100 stake
. Every other format describes the same chance: 2.04 decimal, 26/25 fractional, 49.02% implied probability, 49¢ on Polymarket.
What +104 pays
A 100 stake at +104 returns 204.00 in total: your 100 back plus 104.00 profit. To win exactly 100 you would stake 96.15. The table covers the stakes people actually use.
| Stake | Profit | Total return |
|---|---|---|
| 10 | 10.40 | 20.40 |
| 25 | 26.00 | 51.00 |
| 50 | 52.00 | 102.00 |
| 100 | 104.00 | 204.00 |
| 500 | 520.00 | 1,020.00 |
| 1,000 | 1,040.00 | 2,040.00 |
Break-even and long-run results
The implied probability of +104 is 49.02%, and that number is also the break-even win rate: win more often than 49.02% 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 |
|---|---|
| 49% | -0.0% |
| 50% | 2.0% |
| 55% | 12.2% |
| 60% | 22.4% |
| 65% | 32.6% |
+104 sits close to even money. The bookmaker sees this as roughly a coin flip, with the margin nudging both sides of the market a little under fair. Point spreads and totals live here: the line moves to make each side about a 50% proposition, and the price carries the juice.
The vig at +104
If both sides of a two-way market were priced at +104, the implied probabilities would add up to -1.96% above 100%. That excess is the overround, or vig; as a share of stakes it is a -2.00% 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.
+104 on a betting exchange
Exchanges charge commission on net winnings, so the price you see is not the price you get. At 2% commission +104 is worth 2.019 decimal (+102 American); at 5% it drops to 1.988 (-101). Those are the bookmaker prices you would need to beat.
| Commission | Effective decimal | Effective American | Break-even |
|---|---|---|---|
| 2% | 2.019 | +102 | 49.52% |
| 5% | 1.988 | -101 | 50.30% |
Same price in other formats
Same price in other formats
Nearby prices
Nearby prices
Frequently asked questions
What does +104 mean in betting?
+104 is an American price. Positive numbers show the profit on a 100 stake; negative numbers show the stake needed to win 100. At +104 the implied probability is 49.02% and a 100 stake returns 204.00.
What is +104 in decimal odds?
+104 converts to 2.040 in decimal odds (usually shown as 2.04). Decimal odds are the total return per unit staked, so multiply your stake by 2.040 to get the return.
What is +104 as a fraction?
+104 is 26/25 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 +104?
A 100 stake at +104 wins 104.00 in profit and returns 204.00 including the stake. To win exactly 100 you would stake 96.15.
What win rate do I need at +104?
The break-even win rate equals the implied probability, 49.02%. Winning more often than that at this price is profitable over the long run; winning less often loses money.