Sorry, but there's a bit of math involved when it comes to calculating sports betting value.(Photo credit: DonkeyHotey / Foter / CC BY)

• Convert Moneyline To Percentage
• Moneyline To Percentage Calculator Bankrate
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Being able to convert betting odds into percentages is a major part of knowing how to read odds.

By knowing the percentage of the time you need to win a bet to break even, you can decide whether it is a smart bet to make. If you believe something has an 80% chance of occurring but the odds suggest it has a 50% chance of occurring, you have a positive expectation wager. If you believe something has an 80% chance of occurring but the odds suggest it has an 85% chance of occurring, it’s a bad bet to make because you have no edge.

Below are the formulas to convert moneyline betting odds to percentages, convert fraction betting odds to percentages, and convert decimal betting odds to percentages.

Moneyline (US) odds. For some events such as horse racing, US betting sites adopt fractional odds. However for many sports and markets such as American Football, Boxing etc. ‘moneyline’ odds are used. These moneyline odds are generally used for an event with two outcomes. Moneyline odds are worked out to a bet of $100. The Redskins -4 means the Redskins are favored to win and must do so by at least 5 points for a bet on the ‘Skins to pay out. The next number (-200) is the moneyline, in this case the Redskins are a 2/1 favorite. The last number (38) is the total, the over/under of the expected number of points scored in the game. Sometimes referred to as the vig or the juice, this is the small percentage that the sportsbook takes off the top for facilitating the action. The percentage that the house takes will vary, and different sides of the bet will pay for it. Moneyline bets will move the line based on the amount of money coming in on each side of the bet. Win% – Percentage of wins required to show a profit at a given money line. For example, you would need to win 80% of all of your bets just to break even if you only bet on -400 money line favorites (over 80% to turn a profit). Moneyline Conversion: Odds to Percentage Chart.

How to convert moneyline betting odds

Moneylines can come in ‘plus’ (favourites) and ‘minus’ (underdogs) formats, so there are two different formulas to convert moneylines into percentages.

For ‘plus’ moneylines, the formula is: 100 / (Moneyline + 100)

If the moneyline is +110, the formula would look like this:

100 / (110+100) = 100/210 = 0.476

Multiply your end result (0.476) by 100 to get the percentage: 47.6%

For ‘minus’ moneylines, the formula is: Moneyline / -(100 – (Moneyline))

If the moneyline is -130, the equation would look like this:

-130/ – (-130 -(-100)) = -130 / -230 = 130/230 = 0.565

Multiply your end result (0.565) by 100 to get the percentage: 56.5%

How to convert fraction betting odds

Fraction betting odds are easier to convert into an implied winning percentage.

For fraction betting odds, the formula is: Denominator / (Denominator + Numerator)

If the fraction betting odds are 11/10, the formula would look like this:

10 / (11+10) = 10 / 21 = 0.4761904

Multiply your end result (0.4761904) by 100 to get the percentage: 47.6%.

How to convert decimal betting odds

Decimal odds are the easiest to convert into a percentage.

For decimal betting odds, the formula is: 1 / decimal odds

Convert Moneyline To Percentage

If the decimal betting odds are 2.10, the equation would look like this:
1 / 2.10 = 0.4761904

Multiple your end result (0.4761904) by 100 to get the percentage: 47.6%.

Most bettors will have a portion of their volume of wagers placed on moneylines, but many don’t know when they’re getting value. Knowing the corresponding money-line to point spread values gives bettors an opportunity to pinpoint underlays on the moneyline.

For example if the point spread on a particular football game gets pounded down over the course of the week, there may be an opportunity at one of the sportsbooks where the money line hasn’t been adjusted to scale with the actual point spread. Learning to spot these weak lines will add to your bottom line over the course of a football season.

Below we have listed the odds conversion chart as listed on Bovada.

Betting Tip: Many sharp football bettors will use point spreads to bet favorites and only use money lines when wagering on underdogs.

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