Why is it -110? The price on spreads and totals
-110 means you stake 110 to win 100. When both sides of a spread or total are -110, their implied probabilities add up to 104.76%. The 4.76% above 100% is the bookmaker's margin, also called juice or vig.
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Worked example
To start, the box below is filled in with -110 / -110. This starting line is the two sides of a spread or total, both at -110, so its card shows the margin and the fair probabilities. The box is editable: type any line, or tap one under the card, and the explanation updates.
−110 / −110: neither side is favored. Both have the same price.
What it means
A moneyline is a bet on who wins, with no points involved. A bet on Side 1 risks 110 to win 100. A bet on Side 2 risks 110 to win 100.
Scenarios
| If… | Side 1 | Side 2 |
|---|---|---|
| Side 1 wins | Win | Loss |
| Side 2 wins | Loss | Win |
| Tie or draw | Depends on house rules | Depends on house rules |
On a 2-way moneyline, what happens on a tie or draw depends on the sport and the sportsbook's rules. In boxing, a two-way market (just the two fighters) refunds the stake on a draw. A three-way market that includes the draw loses both fighter bets.
The numbers
Side 1 −110
- Implied probability
- 52.38%
- Decimal
- 1.91
- American
- −110
- Per 100 staked
- returns 190.91 (profit 90.91)
Side 2 −110
- Implied probability
- 52.38%
- Decimal
- 1.91
- American
- −110
- Per 100 staked
- returns 190.91 (profit 90.91)
Both sides together
- Implied probabilities add up to
- 104.76%
- Bookmaker margin
- 4.76%
- Fair probability: Side 1
- 50.00%
- Fair probability: Side 2
- 50.00%
Margin (overround) = the implied probabilities added together, minus 100%. Fair probabilities remove the margin by dividing each one by that total.
Watch out for
A minus price doesn't mean you lose money. −110 means you stake 110 to win 100, and the 110 comes back too if the bet wins.
Learn more: Moneyline guide
Common lines to try
What -110 means
American odds are built around 100. A minus price is what you stake to win 100.
- Stake 110, win 100, get 210 back in total.
- Per 100 staked: profit 90.91, total return 190.91.
What each price pays
| Odds | Profit per 100 staked | Total return per 100 | Implied probability |
|---|---|---|---|
| −105 | 95.24 | 195.24 | 51.22% |
| −110 | 90.91 | 190.91 | 52.38% |
| −115 | 86.96 | 186.96 | 53.49% |
| −120 | 83.33 | 183.33 | 54.55% |
Why both sides are -110
A point spread or total is set so the two sides look roughly even. If both were truly 50/50 with no margin, each would be priced at +100 (evens): stake 100, win 100.
Instead, both are priced at −110. Each side’s implied probability is 110 ÷ 210 = 52.38%. Together that’s 104.76%. The 4.76% above 100% is the bookmaker’s margin, also called the juice or vig (vigorish). Remove it and each side is back to 50.00%.
Implied probability also works as a break-even rate: at −110, a bet has to win 52.38% of the time over many bets just to break even. That’s simply what the price works out to. It isn’t a prediction about any game.
How the price changes the margin
| Market | Sum | Margin |
|---|---|---|
| −105 / −105 | 102.44% | 2.44% |
| −110 / −110 | 104.76% | 4.76% |
| −115 / −115 | 106.98% | 6.98% |
| −120 / −120 | 109.09% | 9.09% |
| −120 / +100 | 104.55% | 4.55% |
The last row shows that the two sides don’t have to match. When one side is −120 and the other +100, the line is treating them as not quite even, but the margin is still built in.
Some sites quote hold instead of margin, which gives a smaller number. The glossary explains the difference.
Common misreadings
- -110 means you win 110.
- It's the other way round. You stake 110 to win 100. Per 100 staked, the profit is 90.91.
- -110 means the team is a favorite.
- On a spread or total, -110 is just the price. Both sides are often -110. The minus sign on the spread itself (like −4.5) is what marks the favorite.
- 52.38% is the chance the bet wins.
- 52.38% is what the price implies, margin included. It says nothing about the game itself.