Implied Probability Calculator For Sports Betting Odds

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A point spread in sports is a way for oddsmakers to make a matchup between two unbalanced teams more balanced by giving points to or taking points away from each team. On the flip side, the plus-minus juice can also encourage gamblers to wager on a longshot. If the Los Angeles Lakers are a +500 to win the NBA championship, a successful $100 bet would net $500. This juice is a way to discourage gamblers from wagering on a heavy favorite. If the Golden State Warriors are listed at –500 to win the NBA championship, a successful $500 wager would only net $100.

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That’s why the house has such an advantage — they’re collecting at least $1 for every $10 bet. Penn State is a 6.5-point underdog against Ohio State. And that -110 indicates that for every $10 you want to win on Penn State +6.5, you need to risk $11. It’s the same for Ohio State -6.5 — every $10 you want to win, you must risk $11.

One thing to remember is that the wider the gap is between the odds, the less evenly matched the two teams are perceived to be. Most of the sportsbook must be careful whenever they change the lines inside order to avoid some sort of “middle”. This results in a one or two point pass on between your two extremes in which by both wagers succeed and then the sportsbook gets nailed. Implied ProbabilityImplied probability is the total amount risked divided by the total payout on a particular moneyline. PayoutsThe amount of money paid by a sportsbook to a winning bettor. A 14-team parlay risking $400 will usually pay out $900,000.

The true reflection of the underlying probability of an event to which a bookmaker will add their margin. A sports bet, historically confirmed by a physical ticket, but still applied to online bets. Method of calculating the appropriate amount of money to place on a bet for consistent profit making as part of a betting strategy. A derivative bet on events within a match or game (e.g. first goal scorer, or time of first yellow card). Term to describe when the betting percentage of a market is above 100% and therefore providing an advantage to the bookmaker and the opposite to the bettor.

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