sports betting odds breakeven calculator

If the odds are negative, do odds / (odds + 100).If the odds are positive, do 100 / (odds + 100).You can actually take the fact that a team has +400 odds and convert that into a likelihood of them winning. Implied Win Probability: This is the win probability (WP) calculated based on the moneyline odds set by sportsbooks.This just ensures that no bet is a “ push“, meaning everyone get’s their money back because the spread and actual score margin were the same. That just means that if the favored team wins by 6, they cover, and if they win by 5, they don’t. Oftentimes you’ll see the spread at half-points, like “-5.5”.If you bet on Georgia -3, that means you expect them to cover, winning by more than 3. If you were to bet on Alabama +3, that means you expect them to “cover” the spread, or lose by less than 3 (or win outright).If you see a line and it just says “Alabama +3”, that would mean that Alabama is expected to lose by 3 points in whatever game they’re playing that week. It is usually written in terms of the home team, so if it’s Alabama Georgia and the spread is -3, that means Georgia is expected to win by 3 points. Spread: The points a team is expected to win or lose by.The team with the positive odds are the underdog. Seeing “+200” means you would win $200 if you bet $100, for $300 total. Seeing “-350” means that you’d need to bet $350 to win $100, plus your initial bet back, so $450 total. Usually you’ll see these formatted like “-350” or “+200”. Moneyline: A bet placed on a team to win outright, regardless of the score.Let’s talk moneylines and expected value, something that’s essential to understand if you want to stand a chance at profiting off sports betting in the long run.īefore I go into too much detail, let me just clarify some key terms for any new people to sports betting: Subscribe to get weekly content like this in your inbox. This is an excerpt from a recent edition of the Staturdays newsletter.

Sports betting odds breakeven calculator