1. 03-17-12 06:44 PM #1
    thesoxman101
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    money line calculation help

    Hi! I'm just starting out and learning how to calculate some basic probabilities. I am trying to convert the money lines into percentages.

    For example, the money line for bulls vs 76ers game tonight is:

    bulls -170
    76ers +150

    bulls: -170/-270 = 62.96%
    76ers: 100/250 = 40%

    How come the two percentages don't equal 100%, or am miscalculating?

    Thanks.
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  2. 03-17-12 07:14 PM #2
    WILLIE
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    The extra (in this case 2.96%) is called the Hold or House Edge. That's what the Sportsbook holds for them allowing you to take either side of the contest.
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  3. 03-17-12 07:44 PM #3
    thesoxman101
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    ah, okay. so are those still the true probabilities of each team winning? so should I act as if the probability the 76'ers win is 40 percent, and take the bet if I think the probability is over 40?
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  4. 03-18-12 03:04 AM #4
    subs
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    u just need the next step to approximate the true probabilities:

    bulls -170
    76ers +150

    bulls: -170/-270 = 62.96%
    76ers: 100/250 = 40%
    62.96/(62.96+40)=0.6115

    40/(62.96+40)=0.3885

    GL
    Last edited by subs; 03-18-12 at 03:15 AM. Reason: reading comprehension fail
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