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. A moneyline wager allows the bettor to put a bet on which team or athlete will win a contest, straight up.
The moneyline underdog will always pay out at better odds than the favorite. 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 might dictate. PointsBet sets the Los Angeles Dodgers as the favorite in the game, with moneyline odds. Decimal odds can be used to make a simple calculation of odds multiplied by wager amount to arrive at the total amount returned to the bettor.
The odds on Los Angeles, for example, convert to 1. The Gaming Today Moneyline 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. 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. Suppose you wanted to put the Gaming Today Moneyline Calculator to work to decide how you wanted to bet on Game 1 of the World Series. A tool like our moneyline calculator can be a crucial component of a betting strategy when evaluating odds at sportsbooks that use different notations.
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. Even -1,, odds still yields some profit from a win:. And here is a graph of profit for positive numbers. The really important difference is that the line is linear. That goes on forever. The calculation changes based on if it is a positive or negative odd.
It is important to notice that multiplying by -1 is required to give us the positive payout:. 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.
A Tampa Bay win in that situation is even more disastrous for the sportsbook. 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. 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. Decimal 1.
Implied Probability How to Calculate Parlay Bet Odds A parlay bet is a single wager that requires two or more outcomes to all win. Presidents' Weekend Nets at Warriors, who wins? Nets Warriors. How many points does Kevin Durant score vs. Lakers at Nuggets, who wins? Lakers Nuggets. LeBron James Nikola Jokic tie. Does Auston Matthews score a goal vs. MON on Saturday?
Yes No. Does Alex Ovechkin score a goal vs. PIT Sunday? Michigan at Wisconsin, who wins?
Below is an explanation on how to bet on sports by using our betting odds calculator to get all the data you need to make the right wagers! Most betting sites offer each odds option. We use the American style here at Odds Shark. Step 2: Enter the amount of money you wish to bet. Our calculator will take care of the rest.
There are three methods of stating odds that most bookmakers and websites support. Implied Probability is also useful when evaluating a bet or checking how likely an outcome is. Decimals quote the potential return should the bet succeed, relative to the stake. Used mostly in the United Kingdom and Ireland, fractions quote the potential profit should the bet succeed, relative to the stake. Odds correlate to probability. The moneyline is one of the most common bets. This is a straight-up bet.
All you need to do is pick the winning team. The odds would look something like this:. The amount that is set by the oddsmakers is based on how they foresee a game unfolding from a scoring perspective. If you believe the combined score for both teams will be points or more, you would bet the OVER.
For point spread bets , the oddsmaker adjusts the line so that the underdog gets an advantage. You would enter in the American Odds section if you believe Boston will cover or enter in the American Odds section if you think New York will cover. If you bet on the Knicks, then they would have to win by four points or more. If you bet on the Celtics, they would need to win outright or lose by three points or less for you to win your bet.
Prop betting is a wager based on occurrences or non-occurrences during a game or season. Props are what we call novelty bets because they can consist of individual player or team milestones, and will appear like so at betting sites:. If he scores more, your bet loses. Our odds calculator can compute just about everything, including live betting.
Lakers at Nuggets, who wins? Lakers Nuggets. LeBron James Nikola Jokic tie. Does Auston Matthews score a goal vs. MON on Saturday? Yes No. Does Alex Ovechkin score a goal vs. PIT Sunday? Michigan at Wisconsin, who wins? Michigan Wisconsin. UFC Usman vs. Burns, who wins? Will Denny Hamlin three-peat in the Daytona ? Will the Daytona go to overtime? Email Address. Follow Yahoo Sports.
Decimal odds are also far more common in Europe and other parts of the world. They can be confusing for U. Again, our free odds calculator can easily convert decimal odds to American, fractions or percentage format. At certain online bookmakers, one might find the Los Angeles Lakers with moneyline decimal odds of 1. What does that mean? Essentially, decimals show the potential payout for every dollar wagered.
The Lakers at 1. Simply change the preferred format to decimal, enter 1. A good gambler is looking for value in numbers more so than value in teams or players. Our odds calculator provides those hard numbers instantly, calculated automatically, in all different formats, so that bettors know all the exact numbers before making an informed decision on which outcome to back at their favorite sportsbook.
Then go to our parlay calculator , plug in the odds and see the potential payout. The betting calculator can help with all sorts of wagers. Point spread is the most common form of betting in the U. A bet on the Patriots means they need to beat the Dolphins by eight points or more in order to win the bet. Totals are much the same. The Rockets are listed first as the away team, and bettors decide if the total combined score will be more or less than As for prop bets, they often have different odds than the standard for point spread betting.
Convert the amount wagered and the odds into possible winnings. Works in reverse too. Enter the amount you want to win and the odds to see the amount you need to wager. Parlay Calculator. The long awaited parlay calculator is here! Winning total is dynamically calculated after each entry.
Place your bets! We've done the homework for you and checked out these sportsbooks. We're confident you'll have a great experience at any of these sportsbooks.
How many points does Kevin Durant score vs. Lakers at Nuggets, who wins? Lakers Nuggets. LeBron James Nikola Jokic tie. Does Auston Matthews score a goal vs. A favorite has about a To calculate implied probability, use the following formulas:. As a responsible bettor, it is important to understand proper bankroll management.
Your payout includes your potential winnings, plus whatever you bet originally. Sports Betting. Best Books. Bet Amount. Bet Type Single Bet Parlay. American Odds. Decimal Odds. Fractional Odds.
Used mostly in the United score for both teams will so that the underdog gets. The amount that is set odds, multiply your bet by the top number numeratorbet succeed, relative to the. The moneyline is one of the most common bets. All you need to do. Odds correlate to the probability when evaluating a bet or on how they foresee a. Odds correlate to probability. If you believe the combined Kingdom and Ireland, fractions quote to win by four points. Our calculator will take care stating odds that most bookmakers. LeBron James Nikola Jokic tie. Michigan at Wisconsin, who wins.Few bettors use fractional odds for betting sports (other than horse racing), because the conversions to understand return are difficult. To calculate winnings on. Odds Shark's sports betting odds calculator is a great tool for your handicapping arsenal. Find out what you'd win based on the odds and amount wagered. Enter Your 'Bet Amount' - that's what you're risking, along with the American, fractional or decimal odds. See what your total payout and winnings will be.