How to use the moneyline calculator
The foundation of sports betting is odds. They determine the likelihood of an event happening and a placed bet’s payout value. Gauging the likely payout of a moneyline bet might seem easy on the surface. However, you'll find out that it's easier said than done when you're staring at -175 odds on Philadelphia Phillies to defeat the New York Mets, and you'd like to place a $39.80, calculating your profits is anything but easy.
When you find yourself in this situation, it's best to use a moneyline calculator. With this calculator, all you need to do is insert your bet’s odds and wager value and you'll receive the result in an instant. The subsequent sections deliver insight into this calculator, shedding light on the metrics it requires to put out accurate results and steps to use it in real-time. I'll wrap things up with a real-world moneyline bet example and the payout result from the calculator.
To get started using the moneyline wagering calculator, you'll need to fill in these sections:
- Bet Value:
This metric indicates your wager size. The calculator typically displays it as “Dollars.” However, you can tweak it to suit your preferred currency unit.
- Odds:
Refers to the odd variant on your chosen sports betting site. In the United States, the default odd variant at sportsbooks is the American (moneyline). If you don't like this odd, you can change it to decimal or fractional.
What the calculator displays
Once you've entered your bet value and odds into the free moneyline bet calculator, hit the “Calculate” icon. Then, you'll find these results:
- To win:
This value represents your profit from the wager using the bet value and odds type. For instance, if you bet $10 on moneyline odds of +200 odds, your total win amount, excluding your initial wager, would be $20.
- Total payout:
This figure represents your profit alongside the amount you risked. As I've established, your $10 on odds of +200 will yield a $20 profit. Add this $20 to your initial bet of $10 and you'd arrive at a total payout of $30.
Using the moneyline betting calculator: A step-by-step guide
You won't encounter issues when using most moneyline
betting calculators
to get your potential payouts. If you're using this betting calculator for the first time, I recommend following these steps:
- Visit a sportsbook and find your preferred sporting event(s) odds
- Insert those odds into the designated spot on the moneyline calculator
- In the “bet amount” segment, input the amount you'd like to wager
- Once you've entered the required metrics, click the “Calculate” button
- Almost immediately, you'll see your total profit and payout
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Real-world moneyline bet and calculation example
I've explained how moneyline bet calculators work. But how can you apply it to odds on real-time sporting events? Without further ado, let's take a look at a moneyline bet associated with a matchup and the profits players will make from placing this wager.
Example: NBA Event - Washington Mystics Vs. New York Liberty
On 888 Sport,Washington Mystics gets moneyline odds of +700 for this event. For New York Liberty who are considered the favorites, the moneyline odds is -1613. Note that the odds with the plus and minus sign are deemed positive and negative odds, respectively.
Let's say your wager for this event is $100. If you bet on positive odds (+700 on Washington Mystics), you'd need to divide it by 100. Then, multiply it by your original betting amount. Here's an overview of this calculation:
Washington Mystics: 700/100 = 7
7 × $100 = $700
This means that your total payout is $800, and your total profit (excluding your wager) is $700.
That said, if you'd like to bet on the negative odds tied to New York Liberty, you'd need to divide 100 by the sportsbook’s odds. Once you've gotten your answer, multiply it by your wager.
Here's how to get your answer:
New York Liberty: 100/1613 = 0.062
0.062 × 100 = $6.20
From this calculation, your profit on a $100 bet is $6.20. As such, you'll receive $106.20 as your total payout.
It's important to note that the above example was just to give you insight into the formula used by the moneyline wagering calculator to deliver instant results. With this calculator, all you need to do is insert your bet and odds. Once you've performed this action, you'll receive results containing your total profit and payout.
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Moneyline betting explained
Moneyline is one of the most straightforward sports betting options online. This bet type involves wagering on a player or team to win a specific matchup or tournament, irrespective of the final score.
Unlike spread betting where your winning chances are based on your wager’s accuracy, moneyline betting is simple to understand. Once you've placed a bet on an individual or team and they win, you can cash out your ticket. That said, if you regularly tilt from spread betting to moneyline wagering, you'd want to use the spread to moneyline calculator to get accurate results on either bet format.
Online bookmakers place moneyline odds based on each team's chances of winning an event, even when these sides aren't equally matched. In these bets, favorites have the “minus” sign next to their odds. On the other hand, underdogs have the “plus” sign before their odds. This odd format is tagged “American Odds” and is available at most US sports betting sites. However, players can also view moneyline odds in these modes:
These odds are simple to understand, even if you're new to the sports betting scene. Here, you'll find two numbers, with the second number representing how much you'd need to stake to win the amount shown in the first number. For context, if you find 5/2 odds on an NFL team, it means that for every $2 you wager, you'll get $5 in return if your bet is successful. So, if you make a $100 bet, your profit will be $250 alongside your initial wager.
Decimal odds are becoming the norm in the sports betting arena. They're usually displayed by one number with two decimal places (for example, 2.75 or 3.30). This value indicates what you'll get in return, your initial bet inclusive. So, if you place a $50 bet on odds of 5.50, your total return will be your wager ($50) multiplied by the bookmaker's odds (5.50). This multiplication means you'll receive $275 in return — $225 as your profit and your $50 wager back.
Why is this calculator useful?
The moneyline betting calculator is useful for the following reasons:
Makes conversions seamless
Using the moneyline percentage calculator, you can easily convert moneyline odds into implied probabilities, total profits and payouts, and other odd variations (fractional and decimal odds). With this advantage, you can compare and contrast different bets without hassles.
Moneyline sports betting calculators operate on an unchanging algorithm that doesn't show errors. As such, expect the accurate profit and payout tally accompanying an event in seconds. Using this results, you can make informed decisions about the amount you'd like to stake and the associated profit.
Before wagering and
arbitrage betting calculators came into existence, bettors had to scribble figures on notes to get their bet's profit and payout values. Due to human error, these figures are often incorrect. However, thanks to moneyline computing tools, you can see a bet's total ROI and payout in seconds.
Serves as a great educational tool
If you're a sports betting newbie and are fascinated by moneyline bet, this calculator can deliver vital insights into how moneyline betting works alongside its associated odds.
What other betting calculators are available?
The moneyline odds calculator isn't the only variant available. Here are others calculators you might want to check out to see how they fit into your sports betting adventure:
Conclusion – Gauge your wagering profits with the moneyline betting calculator
The moneyline odds calculator is one of the most streamlined odds calculators I've ever seen. By incorporating it into your wagering adventure, you're guaranteed accurate insights and calculations. With the results from this tool, you can make better decisions in your betting strategy and adjust it if needed. Just like the
Betting ROI calculator, the moneyline
odds calculator
can save you time and energy trying to work out complex mathematical equations, leaving you with more time to improve your own betting strategy.
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Moneyline calculator FAQs
📌 What is moneyline betting?
Moneyline betting simply involves placing a bet on a team or individual that you feel will win an event or tournament. If your prediction is accurate, you'll win the wager and can cash out your ticket without hitches.
🌟 What is +200 on a moneyline?
+200 is a positive moneyline odds. This odd on a team means that they're considered the underdogs for that event. If you stake $100 on this odd value using a moneyline betting calculator, your total profit (excluding your initial stake) will be $200.
Yes, you can. Most moneyline calculators have “odds” segments where you'll see the different odds available. Just insert your chosen odd variant (decimal, American, or fractional) and you'll get its profit and payout results instantly.
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