What is the Money Line formula used in Sports Betting?
What is the Money Line formula used in Sports Betting?
What does it. When something is -300, which means I have to bet $ 300 to win $ 100. When something is 200, I bet $ 100 to win $ 200. That the ‘m. staggering around, I bet if I want to say, $ 15, which formula I use to do so? Formula that applies here? For my math is very rusty so I need the cracked out there.
Posted by: Hunted
Answer
The money line in sports betting represents the odds for a team or individual to win a particular event. The money line is expressed in terms of positive (+) and negative (-) odds. Positive odds indicate the underdog, while negative odds represent the favorite.
Here are the formulas you can use to calculate the potential winnings for a given bet amount:
- For positive odds (underdog):
Potential winnings = (bet amount * positive odds) / 100
For example, if you bet $15 on a team with odds of +200:
Potential winnings = (15 * 200) / 100 = $30
In this case, you would win $30, plus your initial bet of $15, for a total payout of $45.
- For negative odds (favorite):
Potential winnings = bet amount / (negative odds / 100)
For example, if you bet $15 on a team with odds of -300:
Potential winnings = 15 / (300 / 100) = $5
In this case, you would win $5, plus your initial bet of $15, for a total payout of $20.
Remember that these formulas only calculate the potential winnings, not the total payout. To find the total payout, simply add the initial bet amount to the potential winnings.
10:35 pm
It’s a ratio. 100 being the standard. For the -300 example, divide 300 by 100 and you get a 3:1 ratio. You pay 3 times as much as you win. Same for the other one, 100/200 = 1:2. You pay half as much as you win. If you were to wager $15 on both bets and win, you would earn $5 (plus your $15 back) for the first bet and $30 (plus your $15 back) for the second.