In sports betting and gambling, -120 is what's known as American odds or moneyline odds. When you see -120, it means you need to bet $120 to win $100 in profit. This negative number indicates that you're betting on the favorite.

Let me break this down with a simple example:

• If you bet $120 at -120 odds and win, you'll receive $220 back
  • Your original $120 stake
  • Plus $100 in profit

The minus sign (-) always shows how much you need to bet to win $100. So:

• -110 means bet $110 to win $100
• -150 means bet $150 to win $100
• -200 means bet $200 to win $100

You don't have to bet exactly $120, though. The odds simply represent the ratio. If you bet $60 at -120, you'd win $50 (half of $100). Similarly, a $12 bet would win you $10.

I should mention that these odds also tell us about probability. -120 odds suggest roughly a 54.5% chance of winning. The higher the negative number, the more likely that outcome is expected to be.

To calculate potential winnings with -120 odds:

1. Take your bet amount
2. Divide it by 120
3. Multiply by 100

For quick reference: - $10 bet at -120 = $8.33 profit - $50 bet at -120 = $41.67 profit - $100 bet at -120 = $83.33 profit

Remember, these odds are most common in American sports betting markets. Other parts of the world typically use decimal or fractional odds, but they represent the same probabilities and payouts.

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