Betting Equations

Calculate a Favorite’s Moneyline based on Implied Probability
-(Implied probability / (100 – Implied probability)) x 100 = Moneyline 

A team that wins 72.7% looks like this for the moneyline calculation…  -(72.7/(100-72.7))*100= -266
What that means is this team is a value under -266

Calculate Implied Probability for Favorites based on Moneyline-
Flip that calculation around. If you know the moneyline you can see what that means as to what the oddsmaker is calculating for that team or wager’s implied probability…

Moneyline odds / (Moneylines odds + 100) * 100 = Implied probability
For the example, if the wager is -183 then here’s what that equals in terms of implied probability of the event happening…. 183/(183+100)*100 = 64.7%

Calculate Implied Probability for Dogs based on Moneyline-
Implied Probability (“IP”)= 100/(Plus Moneyline+100) so a +115 dog means… 100/(115+100) = 46.5% IP

Calculate Moneyline for Dogs based on Below 50% Implied Probability-
Moneyline odds = ((100 – IP)/(IP) * 100)… so a 46.5% implied probability means… ((100-46.5)/(46.5)*100) = 1.15

Decimal Odds conversion to Moneyline
Use the following formula to convert a Decimal of 2 or greater to a Moneyline: (Decimal – 1) x 100 = American Moneyline

Use the following formula to convert a Decimal less than 2 to a Moneyline: (-100)/(Decimal – 1) = American Moneyline

Moneyline conversion to Decimal Odds-
For positive Moneylines, divide the moneyline by 100 and then add 1: (Moneyline/100) +1 = Decimal

For negative Moneylines, divide 100 by the moneyline removing the negative sign and then add 1: (100/Moneyline) + 1 = Decimal