That number should be familiar to experienced bettors as the break-even winning percentage bettors shoot for.
SPORTS CALCULATOR ODDS PLUS
Once again, the calculation is slightly different for minus odds versus plus odds. Let’s take the classic coin flipping example where we know the actual probability is 50%: a -110 bet on Heads. Implied Probability Calculation For Negative American OddsĬalculating implied probability is a little more complex for American odds. In being a successful sports bettor every percentage point counts, and each point the book gives back is one more win toward profitability for the bettor. Though it will never tell you which team to select, determining the percent implied probability over 100% will point out lines where the book’s advantage is lower. This is simply the advantage they have in being profitable over the bettor. It is important to note: this is not the margin/vig/juice. Implied probability is most useful when determining the sportsbook’s edge over the bettor. How The Implied Probability Calculator Works
This type of calculator includes the sportsbook’s margin, which means the combined probabilities don’t add up to exactly 100%. This calculation converts the odds into a form that is easier to quantify: percent likelihood of the event occurring. This Implied Probability Calculator converts American odds into implied probability. Using An Implied Probability Calculator To Place A Sports Bet Calculating Las Vegas’ (-115) moneyline odds yields a 53.49% implied winning probability for the Raiders. So, if the Jaguars were +105 odds instead of -105, for instance, just type “105” into the “American Odds” field in the calculator.Īfter inputting “105” and clicking “Calculate” we see that Jacksonville’s implied winning probability would be 48.78% if their odds were +105.įor “-“ moneyline odds, be sure to include the “-“ sign in front of the inputted number. Simply input the moneyline odds on either side of a bet, and the Gaming Today Implied Probability Calculator gives you an instant calculation of that team’s implied probability.įor “+” moneyline odds, simply input the number without the “+” sign. Our implied probability calculator works the same way. Other sports betting odds calculators include tools that allow you to calculate moneyline odds or the house edge by inputting the sportsbook’s offered moneyline odds. You can plug in and moneyline odds into the Gaming Today Implied Probability Calculator (at the top of this page) and convert those odds into implied probability. What Is An Implied Probability Calculator? If you think the Jaguars have better than a 51.22% chance of winning, for instance, the Jaguars (-105) line presents value. Jacksonville’s (-105) odds convert to a 51.22% chance of winning.Īstute bettors look for value in moneyline bets, and that assessment requires converting the odds into implied probability. In this case, the (-115) moneyline on the Raiders implies that Las Vegas has a 53.49% chance of winning.
You can convert the moneyline odds into an implied chance of winning for each team using an implied probability calculator Moneyline bets don’t involve any kind of point spread, however, and only concerns the straight-up winner of the game. Note that the point spread and totals columns for the Hall of Fame game 2022 also display an American Odds payout. The sportsbook puts favored Las Vegas at (-115) on the moneyline. The “+” indicates the underdog on the moneyline, while the “-“ denotes the favorite.ĭraftKings has the Jaguars as the Hall of Fame Game underdog, with Jacksonville paying out at (-105) moneyline odds. US sportsbooks generally display American odds, with potential payouts denoted by the “+” or “-“ in front of the odds. Here’s a look at how DraftKings Sportsbook presented the lines on Super Bowl LV a few days before the game: DraftKings Sportsbook Hall of Fame Game 2022 Lines Sportsbooks generally display the moneyline, point spread, and totals odds on a game, but all three function as separate bets. The underdog on the moneyline pays out at greater odds than the favorite.
This kind of bet doesn’t involve a point spread. A moneyline bet functions as a straight-up wager on which team will win a game.
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