Remember, odds are just the sum of probability for all outcomes offered. But futures markets have more juice baked in than almost any other market.

You may look at Super Bowl odds and see a bunch of teams with long odds and think you're getting a great deal. Some books will offer 10-cent lines on baseball moneylines, meaning in this scenario, the Yankees could be -135 and the Red Sox +125. That adds up to 103.78%, meaning the sportsbook has a 3.78% hold on this wager. The implied probability of the Yankees winning is 58.33%. Take this hypothetical Yankees– Red Sox game in which New York is favored. Most commonly, sportsbooks will offer a 20-cent line. The gap between the two moneylines is the juice. The sportsbooks have a 2.4% edge over your bet and a 4.8% hold on that game all together before it even begins. That means you need to win that bet 52.4% of the time to break even in the long run. The most common juice is -110 on two football point spreads. Negative Odds / (Negative Odds + 100) * 100įor anything with a plus sign, use this to get the implied probability. Use the following formula for anything with a minus sign in front of it, but drop the negative sign. Use our Odds Converter tool to get implied probabilities, or you can do it yourself.

So how do you convert to implied probability? You can calculate the juice by adding up the implied probabilities of each side, and then subtracting from 100. If you want to get more technical on calculating juice, read on.Įvery set of odds in sports betting is just the probability of all the outcomes offered.Īn even-money bet like a coin flip is 50% on each side, meaning the implied probability of the event is 100%.īut the probability when betting sports will be greater than 100%, because the sportsbook needs its cut. That's why the house has such an advantage - they're collecting at least $1 for every $10 bet. While a normal NFL point spread should be -110 (10%) on both sides, a player prop might be -120 (20%) on both sides. Different sportsbooks, like BetRivers or PointsBet, take different cuts depending on what you're betting.

What does units mean in gambling