expected outcome

[CNoyes]

I know this is a sports example, but I figure this is a general probability problem. Is this the correct way to figure out the expected outcome of a game? (Assuming the line is accurate.)

Team1 odds: -135 (Must bet $135 to win $100)
Team2 odds: 115 (Must bet $100 to win $115)

Actual odds that Team1 wins (removing the house's take): -125

(Potential money won)/(Potential money lost) = 100/125 = 0.8

Therefore, Team1 will win 80% of the time, or 4 out of 5 games.