Guide

Guide · 4 min read

What a bet has to win to break even

Every bet comes with a bar it has to clear. The bar is the break-even chance: how often the bet must win just to leave you where you started. Once you can work it out, you can size up a pick from any source in about ten seconds.
The break-even chance does not say a bet is good or bad. It says how good the bet has to be.

The idea in one line

Break-even chance = what you risk ÷ what you get back if you win, with your own stake counted in the money back.
Example: a bet at -110
You risk $110 to win $100.
A win pays you back $210: your $110 plus $100 profit.
110 ÷ 210 = 52.4%.
Out of 100 bets at this price, you need to win about 52 and lose about 48 to end up even. The wins pay $5,238 and the losses cost $5,238.

Favorites and long shots

The more a bet pays, the less often it has to win. The less it pays, the more often it must.
Three prices side by side
-200: risk $200 to win $100. Money back $300. 200 ÷ 300 = 66.7%.
-110: risk $110 to win $100. Money back $210. 110 ÷ 210 = 52.4%.
+150: risk $100 to win $150. Money back $250. 100 ÷ 250 = 40.0%.

A shortcut for the odds you see

For odds with a minus sign, like -130, break-even is 130 ÷ (130 + 100) = 56.5%. For odds with a plus sign, like +130, it is 100 ÷ (130 + 100) = 43.5%. For decimal odds, divide 1 by the odds: 1.91 gives 52.4%, and 2.50 gives 40.0%.

Why this matters before you follow a pick

A tout can call a pick a "lock", five stars, or the play of the day. Those labels describe how excited they are. They are not a chance of winning. The only hard fact in a pick is the price, and the price sets the bar.
So the useful question is not "is this a good pick?" It is "does this win more often than the price needs?" Nobody can answer that from one bet. But once you know the bar, you know what the answer has to be.

The bar is not the chance

Break-even is what the price needs. It is not the chance the bet wins. Those are two different numbers, and mixing them up is the most common mistake in betting math. KYT estimates the real chance from the pros' price, with the sportsbook's cut taken out, and puts it next to the bar. If the chance clears the bar by more than a point, the result bar is green. Within a point either way, it is yellow. Below that, red.
Try it on your next slip: take what you would get back, divide your stake by it, and ask whether you really believe the bet wins that often. A smart pass is a win, too.
For entertainment and education. Nothing here predicts results or recommends a bet.
Know Your Tout is not a sportsbook and does not sell picks. If you bet, bet for fun, not for income. The odds, and our own test, say the money goes the other way. If betting stops being fun, call 1-800-GAMBLER (US, free and confidential).