In sports betting and gambling, -120 is what's known as American odds, indicating how much money you need to bet to win $100. When you see -120, it means you must wager $120 to win $100 in profit (plus your initial stake back).

Let me break this down with a simple example:

• If you bet $120 at -120 odds and win, you'll receive $220 back
  • $120 (your original bet)
  • $100 (your profit)

The minus sign (-) tells us two important things:

• This selection is the favorite to win
• The number shows how much you need to bet to win $100

The higher the negative number, the more likely that outcome is to occur. For example, -300 represents a heavier favorite than -120.

It's worth noting that you don't have to bet exactly $120. The odds work proportionally for any amount:

• A $60 bet would win $50
• A $12 bet would win $10
• A $240 bet would win $200

To calculate potential winnings with -120 odds, use this formula: (Your Bet ÷ 120) × 100 = Your Profit

This odds format is primarily used in American sports betting, particularly for NFL, NBA, MLB, and NHL games. Other regions typically use decimal or fractional odds, but they represent the same probabilities.

The -120 odds represent an implied probability of 54.55%. This means bookmakers believe there's a 54.55% chance this outcome will occur.

Remember that understanding odds is crucial for responsible gambling. Always bet within your means and be aware that even favorites (indicated by negative odds) can lose.

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