How are odds payout calculated?

To calculate “+” odds, divide the odds by 100 and multiply that product by the amount of the wager. To calculate the payout of a $50 bet on the Buffalo Bills, divide 115/100 and multiply by $50 (1.15*$50=$57.50).

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Moneyline bets present are the most straightforward. A moneyline wager requires bettors to choose which team will win a game with no point spread involved. Odds can vary wildly on a moneyline bet. Using a moneyline calculator breaks down the math on the odds, which allows bettors to assess a moneyline’s true value. The following page includes the GamingToday.com MoneyLine Betting Calculator, as well as several valuable tables and graphs designed to help bettors gain an edge with moneyline betting.

Moneyline Calculator

Fill in the dollar amount for your bet and the American Odds (for example -110) and calculate the implied probability and the return on the moneyline.: Bet Amount ($) Odds Type American Odds Decimal Odds Fractional Odds Hong Kong Odds Indonesian Odds Malay Odds Implied Probability (%) To Win

3 Best Betting Apps

DraftKings Sportsbook is one of the most popular sportsbook apps in the US and available in most states where sports betting is legal. Users rave about profit boosts and how user-friendly the app is. Claim a $50 free bet plus a 20% deposit match up to $1,000 at DraftKings Sportsbook. BetMGM Sportsbook has one of the highest app ratings in the Apple iOS App Store. It’s also a great app for anyone who’s just getting their feet wet with sports wagering. BetMGM bettors like the score notification feature for specific games and frequent promo offers. Claim up to a $1,000 risk-free bet using BetMGM bonus code TODAY. You’ve probably seen Caesars Sportsbook ads during any major game, especially during the NFL season. It’s one of the top sportsbook apps, which comes as no surprise given it’s backed by Caesars Entertainment. Bettors will like the user-friendly app, its myriad sports options, and often short wait-time on payouts. If Caesars Sportsbook is legal in your state, you can claim a $1,100 first bet insurance using Caesars Sportsbook promo code TODAYCZR. Caesars has most recently launched in New York and Louisiana. Visit Caesars Sportsbook NY or LA reviews to claim promo code: TODAYCZR in those states.

What Is A Moneyline Bet?

Legal US sportsbooks generally present several different ways to wager on sports. Moneyline bets represent just one of several different wagering options, which include point spread, totals, parlays, and in-game betting.

Moneyline Bets

A moneyline wager allows the bettor to put a bet on which team or athlete will win a contest. The moneyline underdog will always pay out at better odds than the favorite. But underdogs are more likely to lose, so there’s an important tradeoff. Skilled bettors look for value on moneyline bets by evaluating teams that have a better chance of winning than the implied probability of the odds suggests. Sharp bettors are sharp because they can come with up their own estimations of whether a team will win. So, bettors who want to become sharps must hone this crucial skill. Moneyline favorites are listed with “-” odds, and the underdog is listed at “+” odds. For example, here’s a look at a line offered by Caesars Sportsbook on the 2022 Bills/Chiefs game: Point Spread Total Moneyline Buffalo Bills +2.0 (-110) Over 55.0 (-110) +115 Kansas City Chiefs -2.0 (-110) Under 55.0 (-110) -135

American Odds

Caesars Sportsbook sets the Kansas City Chiefs as the favorite in the game, with odds of -135 odds. To calculate “-” odds, divide 100 by the odds, then multiply that quotient by the amount you bet. For example, suppose you want to calculate how much profit a $50 bet on the Dodgers would yield. First divide 100 by 135 (without the “-”), which yields 0.74. Then multiply that number by your $50 bet to arrive at the profit (0.74*$50=$37). A $50 bet on the Chiefs at -135 odds would yield $37 in profit. Then, the $50 wager would return to the bettor. So, the bettor would earn $87 total from a win on that bet. To calculate “+” odds, divide the odds by 100 and multiply that product by the amount of the wager.

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To calculate the payout of a $50 bet on the Buffalo Bills, divide 115/100 and multiply by $50 (1.15*$50=$57.50). A winning $50 moneyline bet on the Bills returns $107.50 total to the bettor. ($57.50 in profit plus the original $50 stake.)

Decimal Odds

Decimal odds can be used to make the calculations above simpler.

For example, bettors can use the Gaming Today moneyline calculator to convert Kansas City’s -135 odds to 1.74 decimal odds. Multiplying 1.74 by a $50 bet yields $87, and subtracting the stake yields potential profit ($87-$50=$37).

What Is A Moneyline Betting Calculator?

The Gaming Today Moneyline Betting Calculator allows for quick calculations for any wager amount and payout odds. Using American, decimal, fractional, Hong Kong, Indonesian, or Malay Odds, you can input the odds and the amount of a wager and see the payout that would come if the bet is a win. While it’s valuable to understand and be able to calculate favorite and underdog Moneyline odds for all of the different odds notations, the moneyline calculator can save a significant amount of time and energy. One of the most important features of the Gaming Today Moneyline Betting Calculator is the Implied Probability feature. For any favorite or underdog input, the calculator produces the implied probability of that team winning. Astute bettors can use the calculator to find teams that have a higher actual win probability than the implied probability dictated by the odds. The “To Win” window displays the amount of profit yielded by any combination of odds and wager amount. To calculate the return to the bettor, add the “To Win” number to the original amount of the wager.

How To Use The Moneyline Calculator To Place A Sports Bet

Suppose you wanted to put the Gaming Today Moneyline Calculator to work to decide how you wanted to bet on a game. Here’s another look at the lines offered on that game by Caesars Sportsbook: Point Spread Total Moneyline Buffalo Bills +2.0 (-110) Over 55.0 (-110) +115 Kansas City Chiefs -2.0 (-110) Under 55.0 (-110) -135 To calculate a $50 moneyline wager on the Buffalo Bills, enter $50 in the “Bet Amount” window and put “+115” in the “American Odds” window. Hit enter or click on the “Convert Odds” button and see how the moneyline calculator converts that information into several different useful categories. The calculator converts the “+115” odds into all of the different notations you might see used by a sportsbook. The +115 American odds convert to 2.15 decimal odds, 23/20 fractional odds, 1.15 for Indonesian/Hong Kong odds, and -0.8696 Malay Odds. A tool like our moneyline calculator can be a crucial component of a winning betting strategy when evaluating odds at sportsbooks that use different notations. The “Implied Probability” output tells you that at +115 odds, the Bills have a 46.51% implied probability of winning. If they think Buffalo’s actual chance of winning the game is higher than that, skilled bettors will take that bet. The “To Win” output yields the profit produced if the Bills win. A winning $50 bet on the Bills yields $107.50 total. ($57.50 profit plus the original $50 bet).

Looking for other calculators to use when sports betting? Check out:

Fair Odds Calculator

Parlay Calculator

Kelly Criterion Calculator

Arbitrage Calculator

Calculating Positive And Negative Moneyline Odds

The math used in calculating the payout on a moneyline is pretty simple. It is one of the most important first steps to understanding sports betting and is crucial to success. Below is a graph of profit won on $100 bets for negative odds. Note that it is a curve that approaches, but will never get to $0. Even -1,000,000 odds still yields some profit from a win: And here is a graph of profit for positive numbers. The important difference is that the line is linear. As the odds increase, so does the profit. Both increase infinitely.

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Looking at the odds offered by the sportsbook, note whether they are negative odds (for example -110) or positive odds (for example +120). The calculation changes based on if it is a positive or negative odd. Below we work through an example of a bet of $100 at -110 moneyline odds. It is important to notice that multiplying by -1 is required to give us the positive payout:

PAYOUT = BET AMOUNT / (-1 *MONEYLINE ODDS / 100)

So that looks like:

$90.91 = $100 / (-1 * -110/100)

That also means that you will be returned that amount AND your original bet, meaning you now have $190.91. Let’s work another negative example of a $100 bet at -150:

$100 / (-1 * -150 / 100) = $66.67

Now let’s work through a positive money example. Let’s say you bet $100 at +120

PAYOUT = BET AMOUNT * ODDS / 100

That looks like:

$120 = $100 * 120 / 100

In that case, you are returned your original bet plus profit, so you now have $220.

What Is Line Movement?

Sportsbooks make money by setting lines that bring in an appropriate amount of wagers on both sides of a bet. The house offers odds that factor in a cut of overall wagers, known as vig, that goes to the sportsbook. In the Bills/Chiefs example from above, if 90% of bets come in on the Chiefs, the sportsbook stands to lose big money if Buffalo wins. If the bets coming in on a game are too one-sided, the line on the game will start to move to try to prompt more bets for the other side. It’s important to remember that you’ll lose in the long run even if you win exactly 50% of the time. Sharp bettors are sharp because they can win despite this line movement.

Legal Online Sports Betting In The US

The Professional and Amateur Sports Protection Act (PASPA) was overturned in May 2018, giving US states the legal clearance to offer state-regulated sports betting. Several states now offer both retail and online sports betting, including New Jersey, Pennsylvania, Nevada, Illinois, Indiana, Colorado, and several others.

The top online sport betting brands in the US include the following:

One of the biggest brands to emerge in the booming online sports betting industry, DraftKings Sportsbook offers mobile sports wagering in eight states. The sportsbook offers every imaginable kind of wager across multiple sports. That betting menu includes daily moneyline opportunities on all major US sports leagues, as well as numerous international leagues. A tool like the Moneyline Calculator can be an indispensable tool to use for evaluating the odds and implied win probabilities at DraftKings Sportsbook. Another huge player in the legal sports betting market, FanDuel Sportsbook offers mobile sports wagering in seven states. Along with DraftKings Sportsbook, FanDuel Sportsbooks stands as one of the top two mobile sports betting brands in the US. FanDuel Sportsbook’s vast selection of moneyline wagering options becomes a potentially profitable market for bettors using a moneyline calculator. Such a tool allows sharp players to compare odds across multiple sportsbooks and only place the most favorable bets.

FOX Bet

A collaboration between FOX Sports and The Stars Group, the FOX Bet brand operates online sportsbooks in New Jersey, Pennsylvania, and Colorado. The moneyline odds at FOX Bet can vary greatly versus some of its competitors, and bettors using a moneyline calculator tool gain a significant edge versus players that don’t.

gamingtoday.com - Moneyline Calculator & Converter for Winnings and Payouts

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