Convert Moneyline To Percentage

• Win Percentage To Moneyline
• Convert Moneyline To Percentage
• Convert Moneyline To Percentage Calculation

The $50 wager would return $80.30 to the bettor ($30.30 profit plus the original $50 bet). To calculate '+' odds, divide the odds by 100 and multiply that product by the amount of the wager. The calculations for this conversion again depend on whether the moneyline odds are positive or negative. For positive moneyline odds, you create a fraction by placing the odds over 100. Then, if possible, you simplify the fraction. So, for +200, you'd create the fraction 200/100. This would be simplified to 2/1.

This summer I read a book that is essential reading for any sports bettor, beginner, or expert. The book is called Weighing the Odds in Sports Bettingby King Yao. In this book Yao explains how to think about and beat sports betting. He draws from his successful career in financial derivative markets and examines sports betting in that vein. Chapters on general sports betting include information on the sports-betting market, different ways to beat sports betting, scalping, middling, hedging, tips for bettors and handicappers, how to evaluate other handicappers and an enlightening interview with a Las Vegas professional bettor.

In Chapter 1, Yao shows the reader How to convert a money line into a percentage.

Convert a money line into its equivalent win percentage by dividing the amount you risk by the amount your ticket will be worth if your bet wins. The ticket amount is your win plus the amount you bet.

If the money line is negative, then take the money line and divide it by itself minus 100. For example, a money line of -129 converts to 56.3%:

=-129 / (-129 -100)

=-129 / -229

=56.3%

If the money line is positive, then take 100 and divide ti by the money line plus 100. For example, a money line of +109 is converted to 47.8%

=100 / (109+100)

=100 / 209

=47.8%

Converting percentage into a money line

If the percentage is greater than 50%, then divide it by 100% minus itself, and multiply by -100. For example, 55% is conveted to -122

= PERC / (100% – PERC) x (-100)

= 55% / (100% – 55%) x (-100)

= 55% / 45% x -100

Win Percentage To Moneyline

= 1.22 x -100

= -122

If the percentage is less than 50%, then take 100% minus itself divided by itself, then multiply by +100, then put a plus sign in front of it. For example, 45% is converted to +122

= (100% – PERC) / PERC x 100

= (100% – 45%) / 45% x 100

= 55% / 45% x 100

= 1.22 x 100

= +122

So how is this useful?

I use the later set of formula's (Converting percentages into money lines) every time I place a bet. Sometimes I can cap my own games and determine that Team A has a 66% chance to win a game. Other times, I use ESPNinsider to simulate the games for me (this requires a premium subscription). In my sports betting Excel spreadsheet, I already have the two formula's entered in so all I have to do is substitute the percentages to get my money line.

So let's say that ESPN says Alabama has a 66% chance to beat Tennessee. Using the formula above, I determine that based on that percentage, the money line should be Alabama -194. At this point, the Alabama money line is actually only -170, so basically ESPN's simulation says there is a -24 point value in taking Alabama. You see what I'm saying? This is also helpful with line movement in that it quantifies in cents how much value that bet has gained or lost since it opened.

Converting a moneyline to a percent helps bettors to understand the percentage chance each fighter is being given to win the bout. Since moneylines are sometimes difficult to understand for newer bettors, percentages will help clear things up a bit.

How to convert to a percent for a favorite

• Amount you need to bet to win $1 / (Amount you need to bet to win $1 + $1) = Favorite's %

Convert Moneyline To Percentage

• Example : Chuck Liddell (-300) vs. Keith Jardine (+220). So Chuck is a -300 favorite, this means you would need to bet $3 to win $1. If you take this and plug it into the formula, it would look like this… $3/($3 + $1) = 75%.

How to convert to a percent for an underdog

• 1/(Amount won when wagering $1 + $1) = The underdog's %

• Example : For Keith Jardine (-220) you will win $2.20 if you bet $1. If you take this and plug it into the formula, it would look like this 1/($2.20 +$1) = 31.25

Note: The reason the two percentages do not add up is because of the juice that the sportsbook is putting on this bout. This is how sportsbooks make most of their money. They win a little bit from every fight, and every game bet on because of the juice.

How to use a percent to your advantage

• Using the percentage to your advantage is a very common betting philosophy in baseball, basketball, football and also fight betting. In order to use the percentage effectively you should gauge what percentage chance you think a fighter has in the bout and then compare that to the actual percent. If your percent and the actual percent are more than 5% off you probably have an edge (this applies to someone who understands the odds, and isn't just taking a wild guess). Anytime you have an edge you should make a wager on the bout.

Convert Moneyline To Percentage Calculation

Editor's note : Check out our reviews of places to bet on UFC and MMA fights