![]() This is the method bettors use to find the bets that have the most value. For example, if a team has 2.50 odds to win a game, their implied probability of winning is 0.4 or 40. Implied probability is calculated by dividing one by the decimal odds. Each of the three odds can be converted into implied probability to help bettors evaluate betting value. Implied probability is the likelihood of an outcome happening. In this case, you have it correct: 1 0.00000007151123842 13, 983, 816 1 0.00000007151123842 13, 983, 816. Implied probability represents the expected probability a bet has to win. The potential profit is $100 and the total returned is $320 ($100 winning plus $220 stake). Negative figures: The odds state how much you have to bet to win $100 profit.įor example, if you see an odd of -220, you will have to bet $220 to win $100. Positive figures: The odds state how much you will win if you bet $100.įor example, if you bet $100 on an odd of +310, the potential profit would be $310 and the total returned would be $410 ($310 plus the $100 stake). Represent underdogs and negative odds represent favorites. It is important to pay attention to the + or - sign in front of the odds. They represent how much you will win (potential profit).įor example, if you bet $10 at an odds of 3/2 the potential profit is $15 ($10 * 3/2) and the total returned is $25 ($15 plus the $10 stake).ĭecimal represents how much money will be returned to you, including your stake (total returned).įor example, if you bet $10 at an odds of 3.5 the total returned is $35 ($10 * 3.5), but the potential profit is $25 ($10 * 3.5 minus the $10 stake).Īmerican odds are a whole different ball game. When converting fractional odds to decimal odds, the calculation requires you to add the multiplier + 1 (which acts as the stake). Generally, you want to place a bet if you believe the actual odds of an event occurring are greater than what the sportsbook believes.įractional odds are primarily used in the UK and Ireland. ![]() It is the probability implied by the odds that the sportsbook believes an event will occur. Implied probability is also an important stat for evaluating a bet. Sportsbooks use 3 methods for stating odds: Fractional, Decimal, and American
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