It is one of the most important first steps to understanding sports betting and is crucial to success. Even -1,, odds still yields some profit from a win:. And here is a graph of profit for positive numbers. The really important difference is that the line is linear. That goes on forever. The calculation changes based on if it is a positive or negative odd. It is important to notice that multiplying by -1 is required to give us the positive payout:.
Sportsbooks make money by setting lines that bring in an appropriate amount of wagers on both sides of a bet. The house offers odds that factor in a cut of overall wagers, known as vig, that goes to the sportsbook. A Tampa Bay win in that situation is even more disastrous for the sportsbook. If the bets coming in on a game are too one-sided, the line on the game will start to move to try to prompt more bets for the other side.
Several states now offer both retail and online sports betting, including New Jersey, Pennsylvania, Nevada, Illinois, Indiana, Colorado, and several others. The top online sport betting brands in the US include the following:. One of the biggest brands to emerge in the booming online sports betting industry, DraftKings Sportsbook offers mobile sports wagering in eight states. The sportsbook offers every imaginable kind of wager across multiple sports. That betting menu includes daily moneyline opportunities on all major US sports leagues, as well as numerous international leagues.
Another huge player in the legal sports betting market, FanDuel Sportsbook offers mobile sports wagering in seven states. Such a tool allows sharp players to compare odds across multiple sportsbooks and only place the most favorable bets. More than a dozen states either currently offer online sports betting or have a launch of mobile sports betting products pending.
New Jersey, Nevada, and Pennsylvania represent the three biggest online sports betting markets in the US. Other states with legal online sports wagering include Colorado, Illinois, Indiana, Iowa, West Virginia, and a few others. The Gaming Today Moneyline Calculator can be used as a valuable resource on any moneyline bet.
Nothing in the terms and conditions of any US legal online sportsbooks prohibits the use of a moneyline calculator. The calculator provides computations that any person could produce with pen and paper but in a much faster and more efficient manner. The implied probability of odds is a Several online sportsbooks offer comprehensive coverage of sports and ways to bet.
Moneyline Calculator. Written By: Geoff Fisk. Moneyline Calculator Fill in the dollar amount for your bet and the American Odds for example and calculate the implied probability and the return on the moneyline. American Odds. So if you're betting on the Packers at against the Vikings, that means Green Bay is a slight favorite.
And the number represents the total return , not just the profit like American and fractional odds. The Packers would be 1. The Vikings would be 2. Fractional Odds are used primarily in the UK and Ireland. Few bettors use fractional odds for betting sports other than horse racing , because the conversions to understand return are difficult. To calculate winnings on fractional odds, multiply your bet by the top number numerator , then divide the result by the bottom denominator.
Odds correlate to the probability of a team winning, which is the implied probability. A favorite has about a To calculate implied probability, use the following formulas:. As a responsible bettor, it is important to understand proper bankroll management.
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Nets Warriors. How many points does Kevin Durant score vs. Lakers at Nuggets, who wins? Lakers Nuggets. LeBron James Nikola Jokic tie. To calculate implied probability, use the following formulas:. As a responsible bettor, it is important to understand proper bankroll management. Your payout includes your potential winnings, plus whatever you bet originally.
Sports Betting. Best Books. Bet Amount. Bet Type Single Bet Parlay. American Odds. Decimal Odds. Fractional Odds. Implied Odds.