discmampubi1970.netlify.com

Moneyline odds of -110 when betting points spreads. If you choose to bet in the decimal format instead, then you’ll often be given odds of 1.90. The true conversion is 1.9091 though, so you’ll potentially lose a small percentage of your winnings if you bet based on their conversion. Therefore, it can be an advantage to use the primary format. To calculate a $50 moneyline wager on the Tampa Bay Rays, input $50 in the “Bet Amount” window and put “+140” in the “American Odds” window. Hit enter or click on the “Convert Odds. The tool to the left can be used to calculate no-vig odds and no-vig win probabilities. For example, if the moneylines of an NFL football game are NY Giants -160 / Atlanta Falcons +140 novice bettors often make the mistake of assuming the fair odds without juice are Giants -150 / Falcons +150.

• Moneyline To Percentage Calculator Express Entry
• Moneyline To Percentage Calculator Present Value
• Moneyline Payout Calculator
• Moneyline To Percentage Calculator

Moneyline betting is an American term for the betting market match winner which is simply a wagering option for which team will win a match with no handicap involved. This is the most common way betting is done on baseball and hockey games and for basketball and football it is a popular alternative to point spread betting. In this article I will explain how the odds work, introduce the websites with the best odds and explain the dynamics of this form of wagering in great depth.

Understanding Moneyline Odds

First let me explain how the odds work. The odds can be expressed as either a positive or a negative. A positive moneyline is how much profit a winning bet will pay per $100 staked. A negative moneyline is how much a player needs to stake in order to win $100. +175 means risk $100 to win $175 profit and -183 means risk $183 to win $100 profit. To calculate for other bet amounts, just change the moneyline to a decimal and multiply for positive or divide for negative. Betting $60 on +175 is risk $60 to win ($60*1.75=) $105 and staking $60 on -183 is risk $60 to win ($60/1.83=) $32.79.

Betting Moneylines Online

First, understand bookmakers make their profit (vig) by shorting positive moneylines and inflating negative moneylines. A term to be familiar with is cents. Yankees -180 / Twins +160 is said to be a 20 cent line which is referring to gap between -180 and +160. Also if one site is offering -180 and another -176 one site is said to have a 4 cent better price. A dimeline means a 10 cent line (example: -150/+140) and a nickel line (rare) means a 5 cent line (example -120 / +115). Where you bet moneylines online makes a difference. Many sites charge a lot of vig using 20+ cent lines. The sites offering better value are listed below.

• Why We Like’em
• Has point spreads priced -105 (risk $1.05 to win $1, instead of $1.10 to win $1)
• Offers a 15-25% bonus on all deposits and is highly competitive with 5Dimes for baseball and hockey moneylines.
• Offers a 50% up to $250 sign-up bonus, baseball dimeline up to -144 (.15 to -175) and many off market NFL & NBA underdogs.

Understand the websites above are best on average because they build less juice into their lines than competitors Justbet, Topbet and Bookmaker do. It is still important to shop as many betting sites as possible including the three just mentioned in seeking the best price. Line shopping is the heart of moneyline betting strategy.

Understanding the Dynamics

There’s a huge mistake many novice sports bettors make on a regular basis. I’m going to explain the dynamics of moneyline betting multiple ways in the hope you’ll firmly grasp the concept and avoid making the same mistake.

Question 1: Game 1= Bears -110 / Falcons -110. Game 2= Patriots -450 / Jaguars +350. Which of these two lines has more vig? To novice players the obvious answer is the Bears/Falcons because it is a 20 cent line as opposed to a 100 cent line. This is answer is however incorrect. The second line has less juice (vig) than the first.

Question 2: All online betting sites are offering Patriots -450 / Jaguars +350. A friend says: “I’ll offer you either Patriots -380 or Jaguars +380, which would you like?” You are only concerned with having the maximum expected value. Which wager -380 or +380 has higher expected value? Many bettors would say if the line is -450 / +350 this averages to -400 / +400, therefore -380 is the better bet. This is again wrong. -450 / +350 when vig is removed is -368 / +368! If you’re thinking: what? wait? why? you are completely lost and lack understanding of the basics. It is a good thing you found this article as I’ll explain further.

Implied Probability Explained

Understand that all moneylines have an associated implied probability, which means how often they need to win to break even. The math for calculating this is risk/return=implied probability. Return refers to stake + win. So -110 is risk $110 to win $100 and the return is $210 ($110 stake + $100 win). The math here is 110/210=0.5238 (52.38%).

Do not skip this exercise: Visit our odds converter and under required break even percentage enter 52.38%. You’ll see this is American odds -110 as just explained. Increase this figure by 1% to 53.38% and you’ll see the American odds are -114.5. This is a 4.5 cent increase.

Continuing this exercise, enter 81.82% and you’ll see this is -450. Add 1% more to make it 82.82% and you’ll see this is a -482.1. That’s a 32.1 cents difference for 1%, but above 1% was only 4.5 cents.

The lesson here is that cents are near meaningless for evaluating odds. All that matters is implied probability.

Calculating odds, VIG and EV may look difficult at first, but do 1 or 2 examples and it’s a piece of cake

How to Remove Vig

Back to question #2: again, novice bettors often make the mistake of assuming -450/+350 has a -400/+400 fair value line, which is well off. The way to calculate this is -450 has an implied probability of 81.82% and +350 has an implied probability of 22.22%. Notice these total 104.04%. The reason they are higher than 100% is the bookmaker’s advantage (vig) which we’ve already discussed.

To remove vig: divide both implied probabilities by their combined total (in this case 104.04%). 81.82%/104.04%=78.64% 22.22%/104.04%=21.36%. Notice 78.64%+21.36%=100%. This means so long as vig was divided equally, the oddsmaker determined the favorite will win 78.64% of the time leaving 21.36% of the time for the underdog. Enter these into our odds converter and you’ll see 78.64% is -368.2 and 21.36% is +368.2 in American odds format.

Originally to come up with -450/+350 the bookmaker took his starting probabilities added about 4% vig. When doing this, he couldn’t simply add 2% to the favorite and remove 2% from the underdog; he needed to do this proportional to how often each side is going to win. This meant giving 78.64% of the 4% to the favorite and taking the remainder from the underdog. Next he made some slight adjustments/rounding to get a nicer looking number, giving him -450/+350.

Calculating EV

The equation for calculating EV is (win probability * what you’ll be paid if you win) – (loss probability * amount staked)=EV. Using the same odds we’ve been discussing let me calculate the EV for each.

$100 at -450 pays ($100/4.5=) $22.22 and we know our chances of winning is the 78.64% we calculated earlier. This plugs in as (0.7864*$22.22)-(0.2136*$100)=-$3.88. As we expect to lose $3.88 per $100 stake we have a -3.88% expected return on investment (ROI). The bookmaker on average profits 3.88% of our staked amount.

$100 at +350 pays ($100*3.5=) $350 and we know our chances of winning are 21.36%. This plugs in as (0.2136*$350)-(0.7864*$100)=-3.88. Again we have same -3.88% ROI and again the bookmaker on average profits 3.88% of our staked amount.

Re-Answering Questions 1 & 2

When betting point spreads that are 50/50 propositions $100 at -110 pays $90.91. This plugs in as (0.5*90.91)-(0.50*$100)=-4.55. This here is a -4.55% ROI. As you can see, the bookmaker makes more on -110/-110 than -450/+350. Likewise, we pay less vig betting either option on a -450/+350 line than we do on either option of a -110/-110 line.

Do you understand now why -110/-110 has move vig than -450/+350. It is really as simple as noting 1% of a big number is far more than 1% of a small number. If you did the exercise with our odds converter earlier you are already aware of how this works. There is an important lesson to take from this involving shopping large moneylines at multiple betting sites. When dealing with the favorite you need to find MUCH better price than the consensus moneyline to find a +EV bet. When dealing the underdog you need to find only a small amount better. Again for -450/+350 the no-vig lines are about -368/+368, not the -400/+400 novice bettors often believe that they are.

Moneyline To Percentage Calculator Express Entry

Use the calculator below to convert betting odds into any betting odds format.

Around the world, there are several methods used to present betting odds. Ultimately they all represent the perceived percentage chance of success, but to the uninitiated the different odds displays can be confusing. Here we break down just what each of the popular methods mean:

Decimal Odds

Decimal odds are widely used around Europe and are the display format of choice for the betting exchanges around the world. They are also incorporated in Asian Handicap betting which is quickly becoming a popular way of gambling on football and other events, and, to many, decimal odds are the most straightforward representation of probabilities. The odds that are presented illustrate the return that you will receive if your bet is successful, to a unit stake of 1. Therefore, if the decimal odds on a football team are 4.50, and you stake £10, the return if the bet goes in would be £45 and the profit would be £35 (4.5 – 1, multiplied by stake).

Any decimal odds that are less than 2.0 indicated that the selection has a more than 50% chance of success, as the outlay is greater than the return. For instance, a bet of £50 on a 1.60 chance would return £80 (£50 stake + £30 profit).

Moneyline To Percentage Calculator Present Value

Fractional Odds

Fractional odds have been the choice in the UK for centuries. They are still used today on racecourses, football coupons and betting adverts. To a beginner, fractional odds may seem a little more difficult to grasp that decimal odds.

Examples of fractional odds include 7/4, 4/1, 5/2 and 11/4. In order to obtain ‘the multiplier’, the top number should be divided by the bottom number. For instance 7 divided by 4 gives 1.75. This 1.75 multiplied by your stake will be the profit on the bet, but don’t forget to add on your stake to get the total return.

E.g. £40 is placed on a horse whose odds are 5/2. The horse wins.

Stake: £40
Multiplier: 5 divided by 2 = 2.5
Profit: 2.5 x 40 = £100
Return: Stake (£40) + Profit (£100) = £140

When converting fractional odds to decimal odds, the calculation requires you to add the multiplier + 1 (which acts as the stake). For instance, 6/4 express in decimal odds is 1.5 + 1 = 2.50 (decimals always expressed to two places)

If the number at the bottom of the fractional odds is larger than the number at the top, then the selection is ‘odds on’ – it is deemed to have more than a 50% chance of success. The larger the bottom number compared to the top number, the higher the probability.

Moneyline (US) odds

For some events such as horse racing, US betting sites adopt fractional odds. However for many sports and markets such as American Football, Boxing etc. ‘moneyline’ odds are used. These moneyline odds are generally used for an event with two outcomes.

Moneyline odds are worked out to a bet of $100. If the figure for a team is positive, then it refers to how much profit will be made based on a $100 dollar wager. For example, if the Denver Broncos were available for a match at +120, for every $100 staked, the profit would be $120 and the total return would be $220. Positive odds are used for the outcome which is deemed to be less likely.

A negative figure on the moneyline indicates a betting favourite and indicates how much needs to be staked to win $100. Betting on a Floyd Mayweather fight (where he is always a heavy favourite), punters are likely to see odds of -700 for the undefeated star. This means that $700 will have to be staked to make $100 profit. The total return would be $800.

Even money shots indicate that there is a 50% chance of success and in theory could be expressed as -100 or +100, as ultimately $100 staked at these odds equals $100 profit. Read about US Moneyline odds in more detail.

Hong Kong odds

Hong Kong odds are unsurprisingly adopted by many Asian bookmakers. The odds are fairly simple to work out in format and are a cross between decimal and fractional odds in their presentation, in that they exhibit the net return similar to fractional odds, but are presented in a decimal format.

To understand Hong Kong odds, the punter should assume that they are placing a 1 unit bet on a selection. The odds reflect the profit that will be obtained from striking that bet. Any odds that are less than 1, indicate the bet is ‘odds on’ i.e. has more than a 50% chance of success.

E.g.

HK odds of 0.4 = 0.4 units profit for every 1 staked. (Fractional odds of 2/5)
HK odds of 5 = 5 units profit for every 1 staked (Fractional odds of 5/1)

Indonesian odds

Indonesian odds follow the same format as US odds, but just use a different stake to illustrate the probabilities of each outcome. Whereas with US betting odds returns are calculated a stake of 100, in Indonesia, they are calculated to a stake of 1. Again, odds with a – sign before them demonstrate how much is required to be staked to win 1 unit, whilst the + sign is disregarded for the ‘outsider’ bets which show how much profit can be obtained for a 1 unit stake. Read further about Indonesian odds here.

E.g:

Manchester United are playing Newcastle at home. Manchester United are available at Indonesian odds of -3.0 to win the game. This means a 3 unit bet will give a 1 unit profit and total return of 4 unit.

Andy Murray is playing Rafa Nadal in France on a clay court. Murray is available at Indonesian odds of 2.25 to win the match. This means for every 1 unit staked, if Murray wins, 2.25 units will be made in profit, with a return of 3.25.
Even money bets are quoted as 1.00.

Moneyline Payout Calculator

Malay odds

Malay odds are effectively the opposite of US odds. They also work on positive/negative system of display, but in reverse to that adopted in America. If the number is positive, then it indicates what you will receive for an outlay of 1 unit. For example, odds of 0.75 would indicate that for 1 unit stakes, 0.75 units profit would be derived. When the odds are negative, they indicate the bet has a less than 50% chance of success. So a bet which was -0.05 would require just 0.05 units to be staked to win 1. An even money bet is indicated as 0. Read more on this here.

E.g.

1. A horse is available at odds of -0.40. This would require an outlay over 0.4 units to win 1 unit. In decimal terms this equates to odds of 3.5

Moneyline To Percentage Calculator

2. Arsenal are at home to Ipswich in the FA Cup. Arsenal can be backed at 0.25. This means for every 1 unit placed on Arsenal, 0.25 units profit will be made.