To calculate the implied odds for a favorite, you divide the odds by $100 plus the odds. To calculate the implied odds for an underdog, you simply divide the amount wagered by the total potential payout. In some markets, like NFL MVP odds, there might be many different probabilities to add up, but we’ll keep it simple here by looking back to our moneyline example. To calculate the hold, we first need to add up all the implied probabilities. If you want to bet like a professional, you have to know how to calculate the hold How to calculate the sportsbook hold One strategy employed by sports bettors is to look for lines and markets with lower holds as this increases their chances of making money in the long-run. If a sportsbook makes more money on lines with higher holds, then bettors, on average, lose more money on lines with higher holds. The hold is important because it tells bettors how much profit margin the sportsbook will make from a particular line or market. The sportsbook will make a profit by taking more money from losing wagers than they payout to winning wagers. To break down exactly what that means, you can think of this way - if the average break-even rate for all bettors adds up to a number over 100%, it’s impossible for all bettors to break-even across their bets. The extra percent above 100% is called the hold, and it represents the percent of dollars wagered that the sportsbook keeps for itself as profit. If we calculate the implied probability of both these bets, we’d see that the total probability is about 104% (38.46% + 65.51%). You might think that the odds of the underdog winning or the favorite winning must add up to 100%, right? Well, not quite. For instance, our moneyline of +160 on the underdog might be associated with a moneyline of -190 for the favorite. We can think of this 38.46% as the approximate likelihood the sportsbook is assigning to the moneyline hitting.Įvery line has at least two sides. To break-even, this bettor will have to win at least 38.46% of their bets. For instance, a bettor wagering $100 on a moneyline of +160 will generate $160 in profit on winning bets and -$100 in losses on losing bets. Let BreakingOdds sports betting odds calculators and professional expertise work for you.When a sportsbook sets a line or gives odds, they’re assigning a probability of some event happening. NFL Picks, College Football Picks, NBA Picks, College Basketball Picks and Baseball Picks. Don’t Miss Out! Get Free Sports Information on line movements including NBA odds, NFL odds, College Football odds and MLB odds from our Sports Handicapping software.īreakingOdds sports betting odds service offers daily sportsbook odds, lines and point spreads, free sports betting ledgers, handicapping calculators customized for the sports handicapper, sporting news, articles and free sports picks. Tracking odds and line movements for every single game so you get an edge before placing your bets. Track your bets, your winning percentage and positively manage your money. When you sign up for a FREE account you get access to your own ledger. Start browsing our college football lines or NFL lines now! Use our computer calculated statistics to get an unbiased edge on college football and NFL matchups. View the odds as they change and see which direction they are moving. Whether it’s the office football pool, your daily fantasy league or gambling in the sportsbook. Gain the advantage in your college football and NFL pool. Check out our Sports Betting Calculators!
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