Here at BallisLife, we strive to make your life as easy as possible. That’s why we have developed an implied odds calculator. With this tool, you can easily figure out how likely an event is to happen, without manual calculations.
Whether you are a newbie sports bettor or a seasoned pro, this handy guide has everything you might need. We will help you get started and off the ground or brush up on a few tips and strategies. Whatever it was that made you stumble onto this guide, you’ll soon be converting American odds to implied probability.
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An explanation of implied odds sports betting
Implied odds, also known as implied probability, is the likelihood of an event occurring. Sportsbooks will set their prices based on the chances of an event or outcome happening. But what the bookmaker also does is hide a percentage that is known as implied probability.
When sports bettors turn these odds into percentages, it helps you to learn exactly how much a sportsbook is charging you to place a wager. Undoubtedly, the process of understanding the implied line meaning is hugely beneficial.
What it takes to use our implied probability calculator
You can use our calculator to convert implied odds to American odds and vice versa. If you don’t use American odds usually, you can always use our other
betting calculator
options to translate your preferred odds format into American odds.
Once you have your American odds, you can input these into the implied odds calc. When you have done this, simply click ‘Calculate’ to generate the result. The implied probability of the outcome happening will be displayed.
But what if the odds are displayed as minus odds? Well, that’s easy! All you have to do is enter the minus (-) symbol before the odds in the designated field. This will then calculate the correct probability percentage for you.
What’s the difference between implied and true probability?
You might have heard both of these terms thrown around in the sports betting industry before. It might be a little confusing for newcomers, but it’s very simple to get your head around, so we’ll break it down for you:
| Probability type | Description |
| Implied probability | The likelihood of an event or outcome happening |
| True probability | The same as above, but with the vig (house edge) removed from the odds |
Pros and Cons
- Accurate results in seconds
- Increase decision making
- Efficiency and time-saving
- Beginner-friendly
- Possibility of incorrect input
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A quick guide to how American odds work
As we have established our calculator only works with American odds. But how do American odds work? This odd format is most commonly used in the US, hence its name. It can be displayed in either positive or negative formats, which are represented with a plus (+) symbol or a minus (-) symbol.
The number next to either of these symbols indicates how much money you will need to bet to win a specific amount. For example, if the odds are positive, then you need to multiply your bet by the value of the odds. But if your odds are negative, then you need to divide your wager by the value of the odds.
So, let’s say you are going to bet $100 with odds of +200. This means that you would need to multiply $100 by 2, meaning that you would then receive $200 in winnings if your bet was successful. If your odds were -200, you must then stake $200 to secure $100 in winnings.
There is a wide range of different bet formats, which can be a little overwhelming at first. But once you have taken some time to learn how American odds work, we are sure that you will agree on how easy it is.
The reality of using implied probability for sports betting
Our calculators are all here for one thing; to solve a problem. While you can manually work it all out, all of our calculators provide you with instant results. Just take our
no vig calculator
for instance, it will generate the data you need in no time, allowing you to cross-check a range of sportsbooks.
But, why should you use implied probability odds? Keep reading to find out exactly what these have to offer your sports betting strategy:
🔍 Finding the Best Sportsbook
Once you know the implied probability, you can also work on finding the sportsbooks that offer the highest odds. With an instant result, you can start researching for the most competitive odds straightaway.
📊 Understand the Likelihood
Naturally, the calculator will provide you with details on what the estimated likelihood is that a specific event or outcome is going to happen. This in turn helps you to make a decision on whether or not to settle your bet, just like our
odds calculator
does.
⚖️ Compare Against the True Odds
After you have generated the result, you can use the data to compare the implied probability of your chosen betting market with the true odds.
✋ Say Goodbye to Long Maths
One of the key benefits of using this calculator is that it removes the need for you to do any long maths sums. Thanks to the calculator, all the hard work is done for you within a single click. Not only are the results instant, but you don’t have to be skilled at mathematics either!
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How to calculate implied odds
Still not completely sure how our implied odds calculator works? Stay tuned for a full explanation of how it all works, so you can gain a deeper understanding.
We get it, it can be overwhelming if you are new to the world of sports betting. You are constantly hearing betting lingo and slang without many places taking the time to explain what it all means. Well, you’ve hit the jackpot here because we’re here to walk you through it all.
Quite simply, a calculator for implied odds will convert your sports betting odds into implied probability, which is how likely an event is to occur. Implied probability is useful to know when you are trying to determine the house edge, which is the advantage the sportsbook has over the sports bettor.
While the calculator will not directly tell you which team or player you should bet for, it will highlight the implied probability. If it’s over 100%, then this means the bookmaker's advantage is significantly lower.
Conclusion: Essential software for all betting types
As you can see, our calculator for implied probability can simplify the entire process. Rather than spend hours trying to manually complete these calculations, all you need to do is enter a few pieces of data and you get your result in seconds. The best part? The calculator can be used with all bet types. Whether you want to find out the moneyline implied odds or use it as a parlay implied probability calculator, the choice is yours.
Our calculator for implied probability packs some serious benefits for all sports bettors who use it. As you use this calculator, you can spot the value in certain wagers where you think that the chances of winning are higher than what the sportsbook is offering. This allows you to hunt for better value in your sports betting odds, saving you both time and money.
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Implied odds calculator FAQ
📏 What are implied lines?
Implied lines in sports betting are the calculation of turning odds into a percentage that reflects how likely an event or outcome is to happen. It can also take into consideration the house edge (vig), to help you understand the advantage that the bookmaker has.
🧮 Can I legally use a calculator for implied odds?
Yes, of course! It is 100% legal to use any sports betting calculator that you find. It can help you to develop a better sports betting strategy and informed decisions. Using these tools can help to give you an edge over other bettors and sportsbooks.
🔄 Can I convert decimal odds to American odds?
Absolutely! It’s possible to convert any odds format into American odds and vice versa, so you never have to worry. If you’re not sure how to do this manually, we have a selection of other calculators that can help you.
🏦 Who sets the odds at sportsbooks?
Bookmakers all set their own sports betting odds for each and every market. But remember, these odds can change depending on circumstances such as player injuries, weather conditions, and other factors.
