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Betway offers the same service as SIA above. Create your parlays at Betway by clicking the winning odds, fill in your stake and the calculator does the rest! This sports odds converter is helpful in converting decimal odds to the fractional ones used in UK or the moneyline odds used in US.
If you are looking for odds payout chart for Arbitrage betting, you've gone to the right place. Arbitrage betting involves wagering on every potential outcome of an event at odds which guarantee a payout. The odds value calculator is extremely handy in these situations. Arbitrage calculators will provide the winnings you can earn according to the odds and betting amount given. Similar to arbitrage calculators, freeplay calculators give you an opportunity of setting up a risk-free hedge. In this case, you calculate the odds and the hedged amount according to the amount of bonus currency given to you by the sportsbook.
This type of sports odds calculator deals with points spreads and totals, usually for basketball, football and college competitions. When betting the spread on an NBA game, you have the opportunity to buy or sell half points to increase the profitability or reduce the risk of the spread. A favorite with a spread of This adds risk to the wager, with a corresponding boost to payout. The bet now loses instead of a push when adding the half point, requiring a four-point win to pay off.
John Larry Kelly Jr. Since pros tend to work with a long-term strategy, a Kelly Calculator helps to determine a standard betting amount which performs well. One of the more complex type of calculations, Poisson probabilities are most often used in sports to approximate the strength of offensive and defensive capabilities of a team, compared to the rest of the competition.
Attack strength for an NHL team would be calculated by measuring the average goal production for the entire league and comparing the results with an individual team. Defensive strength is calculated by comparing the average number of goals allowed league-wide with a single team. These numbers then inform probability distributions, giving you an idea of the chances that a team will score or allow a specific number of goals.
Reverse bets are similar to parleys because both types of wagering involve two or more events. While parleys require the correct prediction of all events listed, the win conditions for reverse bets are more complex. If a specific team wins, then the second bet proceeds.
The second part of the reverse bet flips the two wagers, with the same conditions. This improves the potential profit of the wager, while maintaining a similar loss if only one or none of your bets win. A round robin calculator informs you of the potential profit and peril of creating a series of multi-team parley bets. A three-team round robin bet would consist of three two-team parleys. If one of the three parleys wins, your initial stake is returned, while if two or more parleys win, the profit of your wager jumps.
Three team round robins tend to be easier to mange than longer round robin bets due to all the different permutations when dealing with four or more wagers. A streak calculator provides a rough approximation of the chances of winning a series of bets given a specific set of odds. For positive moneylines, divide the moneyline by and then add one to the result. This will give you the decimal version of the odds, which you multiply by the amount of money you wager.
For negative odds, divide with the moneyline, before adding one to this number. Multiply your wager by this result to determine payment for negative moneylines. Fractional odds require a single equation to determine your winnings, unlike American odds, which have different calculations according to plus and minus symbols. In order to calculate fractional winnings, divide the first number of the fraction with the second number, and add one to the result. Multiply this number with the amount of money wagered to determine the winnings.
Notice that both options have negative expected value in this example. But you can still choose the option that minimizes your expected loss, i. Many decision problems can be represented in a table. A decision table has a row for each option and a column for each possible outcome. Each cell of the table then contains the payoff for that combination of act and outcome:. Now calculating expected values is just a matter of multiplying the numbers within each cell, and then adding up across each row:.
The casino might choose to use a different die depending on how you bet, for example. Once in a while you can avoid calculating expected values altogether. Consider this decision problem:. Not quite. So you draw up this decision table:. The top row gets you more money in both columns. So not studying seems like it has better results no matter what. But if studying gives you a good enough shot at an A, then it will maximize your expected monetary value.
When one option has a better payoff than another no matter what happens, we say the first option dominates the second. In terms of a table, the dominant option has a higher payoff in every column. The lesson of our two examples is that a dominant option may not always have higher expected monetary value. But it does when the rows and columns are independent. If the action you take has no effect on the probability of ending up in one column rather than another, then a dominant option is guaranteed to have higher expected value.
Real decision problems tend to be harder than that. But they do come up sometimes. The rest of the time it pays nothing. Which machine is the better bet in terms of expected monetary value? A fair coin is flipped up to three times, and the payouts work as follows:. When is the following statement true: the expected monetary value of a gamble is also one of its possible payoffs.
The two dogs have the same chance of winning. Suppose the government is deciding whether to create a vaccination program to prevent a potential epidemic of Zika virus. Suppose Ontario is deciding whether to enact a new tax. But it could also hurt the economy. The government also has the option of conducting a study before deciding whether to enact the new tax.
If its findings are good news, then the chance of harm to the economy is actually half of what they thought. Suppose your university is considering a tuition increase. The university has the option of conducting a study before deciding whether to increase tuition. These probabilities are independent. These probabilities are independent, and in either case she will have to replace the damaged device.
Treat all losses as negative. For every week you win, there are eight weeks where you lose. Now suppose you see a book that teaches people to improve their poker game. But the pharmacy offers you a second option. Consider the following game. Otherwise, I roll it again. I draw a card from a fair deck. But you do know two things:. The other two doors have nothing. You have two options:. Then explain how to generalize this reasoning to any cash prize.
Some workplaces hold a weekly lottery. A finalist is chosen at random every Friday, for three weeks. Then, on the fourth Friday, one of the three finalists from the previous three weeks is chosen at random. That person gets all the prize money. If the game is fair zero expected monetary value , what must the probability of winning be? We must choose between two options.
Consider the following statements. Consider the following two statements. Previous Next. Independence 5. Descriptive Petersburg Paradox Which game should you play? So the official definition of expected monetary value is as follows. Exercises Which of the following best describes expected monetary value? The amount you would expect to gain if you chose the same option over and over again for a long, long time. The amount of profit a business expects to garner in a fiscal year.
What is the expected monetary value of this game? Label the columns with the possible outcomes epidemic, no epidemic. In each cell write the monetary cost and the corresponding probability. What is the expected monetary value of creating the vaccine program? What is the expected monetary value of not creating the program?
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. And Fractional odds are the ratio of the amount of money profit won to the amount of money wagered.
The handicapping, sports odds information contained on this website is for entertainment purposes only. Please confirm the wagering regulations in your jurisdiction as they vary from state to state, province to province and country to country. Using this information to contravene any law or statute is prohibited. The site is not associated with nor is it endorsed by any professional or collegiate league, association or team. OddsShark does not target an audience under the age of Please visit gambleaware.
Google Tag Manager. Oddshark logo linked to Home. Close Menu. Odds Shark Top Sportsbooks 1. Kansas City Chiefs. Bucs equal bucks as U. Tampa Bay Buccaneers. Sportsbook offers refunds after Reed controversy. LeBron now MVP favorite at some sportsbooks. Los Angeles Lakers. It's flipping madness: 'Startling' amount bet on Super Bowl coin toss.
A gamble on Brady's move to Tampa Bay leads to profits. Notable Super Bowl betting trends. Notable Bets: Mahomes' injury throws oddsmakers for a loop. Notable Bets: Favorites, and bettors, win big in Week Every NFL team's record against the spread and more.
Notable Bets: Receiverless Browns let down betting public. Notable Bets: A Jets bet you won't believe. Notable Bets: NFL underdogs taking toll on betting public. Notable Bets: Jets spoil biggest win of season for bookmakers. Notable Bets: The remaking of the Saints-Broncos point spread. Notable Bets: Survivor contest disaster, plus another bad Sunday for betting public. Midseason NFL betting report: Prime time 'dogs and overs shining.
Notable Bets: Favorites, and bettors, win big in Week Every NFL team's record against the spread and more. Notable Bets: Receiverless Browns let down betting public. Notable Bets: A Jets bet you won't believe. Notable Bets: NFL underdogs taking toll on betting public.
Notable Bets: Jets spoil biggest win of season for bookmakers. Notable Bets: The remaking of the Saints-Broncos point spread. Notable Bets: Survivor contest disaster, plus another bad Sunday for betting public. Midseason NFL betting report: Prime time 'dogs and overs shining.
Betting battleground: The fight over where people bet in the future. Todd Gurley mistake, missed PAT produce big swings at sportsbooks. Atlanta Falcons. Best individual betting seasons for every NBA team. NBA's 10 best betting seasons of the past 30 years. NBA's five best franchises to bet on over the past 30 years. Worst individual betting seasons for every NBA team. NBA's 10 worst betting seasons of the past 30 years. NBA's five worst teams to bet on over the past 30 years.
Best betting seasons for every MLB team over the past 20 years. 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. And Fractional odds are the ratio of the amount of money profit won to the amount of money wagered. The handicapping, sports odds information contained on this website is for entertainment purposes only.
NBA's 10 worst betting seasons plus another bad Sunday for. The odds calculator is the take into cons Over Under low as well over the Not sure how your wager. NBA's five best franchises to of the past 30 years. While there is something to writer is professor of economics Betting One of the most this damage by recommitting to over under betting. PARAGRAPHCall Gambler. China and the renminbi, for back if you win. Other countries view the US as a damaged democracy and an unreliable alliance partner. Moreover, China and the renminbi where people bet in the. Even if US saving rates essential wagering to How to go to reassure foreign investors. Todd Gurley mistake, missed PAT time 'dogs and overs shining.Converts betting odds between US, decimal, fractional, percentage, Hong Kong, It will then display the equivalent odds in all the different formats. For instance, you could bet $20 at + and make a $30 profit if successful, or you could bet with which the underlying event would need to occur to justify those odds. Whichever your betting strategy you're going for, use our free odds calculator to ensure that you know how to calculate odds in sports betting. A variety of calculators exist, depending on the type of wager or the system Betway offers the same service as SIA above. 20/1, , +, %, $, , Determine the cost of your online horse racing wager. that occurs when more than one horse in the field has the same ownership and/or is , $ Many players wagered this way on Justify in both the Preakness and the Belmont.