A moneyline bet calculator is the perfect solution for gamers looking to make more educated bets. If you aren’t sure exactly what a betting calculator is, then join me as we uncover everything you need to know before using the tool.
A moneyline calculator is one of the simplest sports betting calculators out there. The system is all about putting your faith in a specific team or player to come out on top in their game or tournament, the calculator will use the odds for the bet and your stake amount to provide useful information such as the potential payout and implied probability that the bet will win.
The calculator will also provide an odds conversion, so if you add the original odds as american odds then various other odd types will be shown such as fractional and decimal.
Let’s take a look at an example together. You want to bet on basketball and visit one of the best NBA betting sites, and so you’d plug in +150 odds and a $100 bet, and voilà! The calculator offers you a $250 potential payout and probabilities, like a 40% chance of triumph.
Here’s how you can use a moneyline payout calculator in this step by step guide:
You can add any type of odds to the bet calculator, American will likely be your preference but fractional, decimal and others are available.
Once you hit calculate, all of the different odds formats will be shown. You will also see the implied probability and potential payout when hitting the calculate button.
A half point calculator is used to determine the value of buying or selling half-points when placing sports bets. Half-point betting is typically used to increase your chances of success, but decreases your winning potential.
A parlay calculator is used to determine the implied probability of multiple bets winning all at once and the potential payouts associated with the win. Parlay bets are a type of bet that involves multiple individual bets. However, in order for the parlay bet to be won, you must win each of the individual bets.
A Kelly criterion calculator is a sports betting tool that can be used to determine the optimal size of a bet or series of bets to maximize how you use your bankroll. This helps bettors work out how to best allocate their account balance to different bets.
Hedge betting is an interesting tactic that you can use to minimize potential losses. Hedging is when you already have an existing bet that is active and they place a second bet to divert risks associated with the first bet. A hedge betting calculator helps to determine how much to bet and what kind of reward can be expected based on the stake and outcome.
Implied probability is the likelihood of a selected bet being a winner based on the bet’s odds. A moneyline to percentage calculator will automatically provide this value to you when information is added correctly. This gives the user a better understanding of the bet’s statistical likelihood of being won.
Implied probability is calculated using a simple formula for each of the different odds types. American Odds requires two different formulas, one for negative and one for positive. The formulas for various odds types can be seen in the table below.
| Odds Type | Formula |
|---|---|
| Negative American Odds | Implied Probability = Odds / (Odds + 100) x 100 |
| Positive American Odds | Implied Probability = 100 / (Odds + 100) x 100 |
| Decimal Odds | Implied Probability = (1 / Decimal Odds) x 100 |
| Fractional Odds | Implied Probability = Denominator / (Denominator + Numerator) x 100 |
A moneyline calculator eliminates any uncertainty around potential bets that you may want to place and creates a more enjoyable gaming experience. With just a few taps, you can scrutinize critical stats like implied probability and total payouts in seconds flat.
However, as with everything in the world of sports betting I advocate highly for responsible gaming. This is why the use of calculators should not be taken lightly, always remember to double check the information you input into your calculator.
Yes, all sports betting calculators are legal and safe to use. They are designed to work out calculations that you could otherwise do manually. Moreover, they are not designed to provide any advantage over the house, it’s simply an educational tool to provide better insight and understanding.
Implied Probability refers to the likelihood of your bet being successful. For example, odds of +150 will always have an implied probability of 40%. The use of implied probability is important as it provides bettors with insight into how likely the outcome is to be in their favor.
The purpose of a calculator in betting is to provide users with the implied probability of the bet winning and the potential payout the user would receive.
Yes, a moneyline bet calculator can be used for all different types of sports including baseball. Be sure to check out the baseball news section here at Deadspin.
No, a bet calculator is super simple to use and almost anyone can pick it up in a few minutes. All you need is the betting odds for your bet and the stake amount.
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