If anyone is interested and doesn't know, here is how you convert money line odds to win percent
Converting Moneyline Odds
Moneyline odds, also known as 'American odds' are probably the most foreign odds format to those of us outside of North America. And at first they appear a little confusing. But it is helpful to understand what these odds represent especially when listening to Americans speaking about gambling odds in sports broadcasts or podcasts. So, let's see how we can convert Moneyline odds into their respective implied probabilities.
There are two instances of Moneyline odds.
The first are 'minus' moneylines. This is expressed as for example, -120. But what does this mean exactly? Well, let's say a bookmaker are offering odds of -120 for the Los Angeles Lakers to win a game in the NBA. This is essentially saying that to win $100 you have to bet $120. In other words, if you place $120 on that outcome, you will receive a profit of $100.
The other instance are 'plus' moneylines. This is expressed as for example +180. In this case, let's say bookmaker
Sportsbet have offered odds of +180 for the New York Yankees to win a game. This simply means that if you bet $100, you will win $180.
So how do we convert the 'plus' and the 'minus' moneyline odds into their implied probabilities?
For 'minus' moneyline odds, it's the following calculation.
So let's take our example of a moneyline odds offer of -120.
Implied probability = (- (-120) / ((- (-120)) + 100)
Implied probability = 120 / (120 + 100)
Implied probability = 120 / 220
Implied probability = 0.545
Multiplied then by 100, we get the implied probability percentage of 54.5%.
Now the calculation for 'plus' moneyline odds, we make the following calculation:
So let's use our example of moneyline odds offer of +180
Implied probability = 100 / (180 + 100)
Implied probability = 100 / 280
Implied probability = 0.357
Multiplied then by 100, we get the implied probability percentage of 35.7%.
Note: Shamelessly stolen from the internet
