![]() ![]() If you are not skilled in converting betting odds into probabilities you will, without exception, lose money in the long run. It is rare to find reliable information on the implied probabilities for odds offered in the markets, or the net returns from the odds.įurthermore, only people who understand the probabilities behind the odds on offer are able to assess the potential value of a bet. The Internet is full of advice and explanations, but unfortunately the vast majority of information is either wrong or intended to lure you into betting. If you calculate your own probabilities and need to check them against the odds offered by bookmakers to find value bets, how on earth would you work this out if you don’t know the formulas behind the odds? Why is it important to know the formulas behind odds calculation? You will never become a winner if you buy your bet at the most conveniently available price, without searching for the best price offered by the market.įootball Betting Odds: Study Comparison Bookmaker vs. However, they may have far better prices on offer you just simply don’t know because you don’t know how to convert them into probabilities and net returns. What is the advantage of being able to switch between different betting odds formats?Īs you compare prices and look for the best odds available in the market, you limit yourself if you are only at ease with one or two types of betting odds.įor example, you may wish to find the best price for a tennis match, and if you are only comfortable with European style odds, then you probably won’t even consider checking the US market or Asian bookmakers. Understanding Betting Odds – Moneyline, Fractional Odds, Decimal Odds, Hong Kong Odds, IN Odds, MA Odds Probability, Expectation, Hit Rate, Value, Mathematical Advantage: Explained Otherwise, how would you possibly know that 6/5 fractional odds, 1.2 HK odds, 2.2 decimal odds, +120 US moneyline, 1.2 Indonesian odds, or -0.83 Malay odds, all stand for a 45.45% chance of success and 120% net return? ![]() Only when you convert odds into their probabilities can you compare them. In order to compare odds, you need to be able to convert them into implied probabilities and their net returns, because this is the foundation of all odds in the market. Into probabilities and net returns, and vice versa? Odds into Net return Why do I need to know how to convert betting odds What Additional Information is included in the Spreadsheet?Įxcel formulas, explanations and toggle facilities for the following conversions: – Bet Tracker - Track and share your bets.Automatically converts odds into their implied probabilitiesĪutomatically switches odds between US, decimal, fractional, percentage, Hong Kong, Indonesian, and Malay formatsĪutomatically converts probabilities into their corresponding oddsĪutomatically displays the net return for each odd type.Fade the public and bet on low betting percentage sides View line history to see how the odds have changed over time including obscure prop bets for free.View live sports betting lines odds data from 5Dimes.Odds Comparison - Fade the public and view betting line history.Bet Simulator - Simulate thousands of bets using a variable or fixed bet sizing with various ROIs to determine your expected variance and bankroll growth going forward.T-Test Calculator - Find out if a variable or winrate is statistically signifcant or not.Confidence Interval Calculator - Calculate a 95% confidence interval for your winrate to give you an idea of what your expected winrate in the future may be.Line Shopping Calculator - Compare betting lines between sharp and square books to see if you found a +EV bet and calculate an optimal kelly bet size at the square book if you did.Hedge Calculator - Solve for the optimal hedge amount to maximize the expected growth of your bankroll.Vig Free Line Calculator - Figure out how much vigorish you are paying on a particular bet and solve for the implied win percentage of each team.Kelly Criterion Calculator - Calculate the optimal bet size to maximize your long term growth rate of your bankroll.ROI Calculator - Find your expected ROI given the odds of a bet and your assumed win percentage. ![]() Odds Converter - Convert american odds to decimal odds and figure out your required win percentage to turn a profit.Betting Tools - Convert odds and size your bets appropriately.
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