Sports Betting Juice and Vig: If you have ever placed a bet before, then you know exactly what the juice is. Sportsbooks make their money in one of two ways: Ideally, sportsbooks would love to take equal action on both sides of a sporting event and simply make their money risk-free on the juice.
Well, they become the juice that the sportsbooks make on your bets. If you noticed in our example, winning 50 percent of your sports bets will not be enough to break even. But, since the juice does exist, winning 50 percent of your wagers would be a losing situation. The question now becomes, what wining percentage does a bettor need to have in order to break even?
So, for wagers with standard juice, a 53 percent win rate will bring a profit. The standard juice for a bet is usually around , but sportsbooks have gotten into the trend of changing the prices of their lines instead of actually moving the spread around.
Does that match the online bookies' pricing? On this page you'll be able to convert sports betting odds using our sports betting calculator across the three different formats, or convert chance of winning percentages to each of the different formats, hassle-free and in a flash.
Here's how our betting calculator works. To use, simply input your known odds in either Moneyline American , Fractional UK or Decimal European odds into one of the boxes in the gambling odds calculator and click the convert button. The odds equivalent in all other formats will then be shown, as well as your expected profit, odds, and payout. Remember that you would also have your original bet returned to you, so add that value to the profit for your total payout figure.
The odds equivalent in all other formats will then be shown, as well as your expected profit. When betting on the moneyline in American odds, the team that you are betting on just needs to win the game.
The fractional odds displayed shows how much you can win on a bet compared to how much you put on it. The first number will show how much you can win, when you place the second amount as a wager. With decimal odds, you will multiply your wager by the decimal shown, with the answer being what you will receive in winnings, including your original wager. We hope you make good use of our sportsbetting odds calculator and our odds converter app on this page.
Now, put your knowledge to the test and sign up with one of our great sports betting sites. Whether you're into baseball, football, basketball, or racing, you will find odds in all three formats and a great range of markets to wager on and with our handy sports betting calculator, things couldn't be easier! From there, you divide the right-hand side — one — by the total figure — three — giving the answer of When looking to make a bet, speed is key, something that our sports betting calculator can help with.
Input your type of odds, given odds, and total bet, and the betting calculator will handle the rest. Moneyline odds sometimes listed as US or American odds probably rank as the most confusing odds format out there, largely as it appears to be used exclusively in North America. Yes, it is a bit complicated to understand, but that is the nature of the beast when it comes to moneyline odds. Finally, on European shores, decimal odds are often the preferred choice.