Here we will explain what minus 120 odds mean, give you the percentage probability of -120 odds, and provide you with a -120 odds calculator. Before we continue, note that we are talking about -120 American odds, also known as -120 Moneyline odds.
When two teams or opponents are playing against each other, usually the team with positive odds is the underdog and not likely to win, while the team with the negative odds is the favorite to win.
Thus, a team that has the American odds of -120 is the likely winner. The percentage probability of winning a bet with -120 odds is about 54.55 percent.
Furthermore, -120 odds means that for each $100 you bet, you will win $83.33. So if your team wins, a $100 bet will result in a total payout of $183.33 (bet plus winnings).
In the -120 Moneyline Odds Calculator (-120 American Odds Calculator) below, you can enter your bet to calculate your winnings and payouts of a minus 120 odds bet.
American Odds Calculator
Learn what another American odds means and calculate how much you can win. Please enter a negative (-) or positive (+) American odds in the box below.
What does minus 121 odds mean?
Here is another American odds that we have explained for you!