+138 Odds Explained
- Decimal
- 2.38
- American
- +138
- Fractional
- 69/50
- Implied probability
- 42.02%
- Polymarket
- 42¢
- $100 wins
- 138.00
- American
- +138
- Fractional
- 69/50
- Implied probability
- 42.02%
- Polymarket
- 42¢
- Profit
- 138.00
- Total return
- 238.00
2.380 decimal, +138 American, 42.02% implied probability
The price +138 converts to 2.38 decimal odds and 69/50 fractional odds. Read as a probability it says the bookmaker prices this outcome at 42.02%, 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 42¢.
What +138 pays
A 100 stake at +138 returns 238.00 in total: your 100 back plus 138.00 profit. To win exactly 100 you would stake 72.46. The table covers the stakes people actually use.
| Stake | Profit | Total return |
|---|---|---|
| 10 | 13.80 | 23.80 |
| 25 | 34.50 | 59.50 |
| 50 | 69.00 | 119.00 |
| 100 | 138.00 | 238.00 |
| 500 | 690.00 | 1,190.00 |
| 1,000 | 1,380.00 | 2,380.00 |
Break-even and long-run results
The implied probability of +138 is 42.02%, and that number is also the break-even win rate: win more often than 42.02% 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 |
|---|---|
| 42% | -0.0% |
| 50% | 19.0% |
| 55% | 30.9% |
| 60% | 42.8% |
| 65% | 54.7% |
At 42.02% implied, +138 is a moderate underdog. A bet here wins less than half the time by the bookmaker's reckoning, but each win pays 138.00 per 100. Draws in soccer, the second favourite in a three-horse race and road teams in close games are typical residents of this range.
The vig at +138
If both sides of a two-way market were priced at +138, the implied probabilities would add up to -15.97% above 100%. That excess is the overround, or vig; as a share of stakes it is a -19.00% 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.
+138 on a betting exchange
Exchanges charge commission on net winnings, so the price you see is not the price you get. At 2% commission +138 is worth 2.352 decimal (+135 American); at 5% it drops to 2.311 (+131). Those are the bookmaker prices you would need to beat.
| Commission | Effective decimal | Effective American | Break-even |
|---|---|---|---|
| 2% | 2.352 | +135 | 42.51% |
| 5% | 2.311 | +131 | 43.27% |
Same price in other formats
Same price in other formats
Nearby prices
Nearby prices
Frequently asked questions
What does +138 mean in betting?
+138 is an American price. Positive numbers show the profit on a 100 stake; negative numbers show the stake needed to win 100. At +138 the implied probability is 42.02% and a 100 stake returns 238.00.
What is +138 in decimal odds?
+138 converts to 2.380 in decimal odds (usually shown as 2.38). Decimal odds are the total return per unit staked, so multiply your stake by 2.380 to get the return.
What is +138 as a fraction?
+138 is 69/50 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 +138?
A 100 stake at +138 wins 138.00 in profit and returns 238.00 including the stake. To win exactly 100 you would stake 72.46.
What win rate do I need at +138?
The break-even win rate equals the implied probability, 42.02%. Winning more often than that at this price is profitable over the long run; winning less often loses money.