#Moneyline explained plus

So, 1/ 2.3 = 43.47% implied probability that the Chiefs will win. To do so, you will need to divide one into your decimal odds. Now we can calculate the implied probability of winning. To convert to decimal, you will need to use the following calculations.Ĭhiefs are the underdog: 1+(130/100) = 2.3īuccaneers as the favorite: 1+(100/105) = 1.95 While American odds still are quite new, you’d need to convert your odds to decimal for this calculation. This number will show you the exact value placed on each team by the oddsmakers. Implied Probability is a great calculation that can help you with your moneyline betting.

#Moneyline explained plus

Tip: If you bet the same amount as the denominator (the bottom number) you will win the numerator (the top) plus your initial stake. So, if we were to bet $10 on the Chiefs with the same moneyline odds as above, their odds would be 13/10, so we’d multiply 10×13 then 130×10 = $13 plus your initial $10 for a payout of $23. Odds are displayed as fractions, and you essentially need to multiply your amount wagered by the top of the fraction and divide that result by the bottom. Kansas City Chiefs 2.3 (which means for every dollar wagered, you would win $1.30 plus your initial $1) Fractional Oddsįractional odds aren’t nearly as popular in the United States as they are in European countries like the United Kingdom, but they are an option nonetheless and should be mentioned. Tampa Bay Buccaneers 1.95 (which means for every dollar wagered, you would win 95 cents plus your initial $1)

The Buccaneers/Chiefs odds would look like this: If you’re doing the mental math on this and want to quickly figure out how much you will earn, you will do the following: multiply your wager amount by the odds. It’s pretty simple to understand, your decimal odds number represents the return for every dollar you wager. Decimal Oddsĭecimal odds have been popular in Europe for the past few decades and are very common still in the United States even with American odds. These numbers are quite low as these two teams are pretty closely matched, but if you saw something like -300/+650 you would assume that the Buccaneers are heavily favored and the Chiefs have a slim chance of winning. So you would win $130 by betting $100 on the Chiefs, and you would need to bet $105 to win $100 by betting on the Buccaneers. The negative number represents the favored team, and the positive number represents the underdog. These are displayed as a plus or minus amount, usually in the hundreds or thousands or even tens of thousands for a huge underdog.Ī good trick to remember when reading American odds is that it’s showing you how much you might win betting the underdog on a $100 wager, or conversely, how much you need to wager to win $100 by betting on the favorite.įor example, if you’re looking to place a moneyline bet on the NFL, you might see:

In the United States, American odds are most prevalent. Your sportsbook may allow you to toggle between the three – they all represent the same odds, but they are displayed in different ways that can be tricky to understand if you’re not familiar. While it’s important to understand your moneyline betting odds, it’s important to know the difference between the three different odds formats.