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Figuring out odds if you have percentage of an event happening
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smallball
SBR Wise Guy
Join Date:
01-16-10
Posts:
610
#1
Figuring out odds if you have percentage of an event happening
12-04-10, 05:04 PM
lets say my numbers show that team x will win 37% of the time. is my math accurate if the
odds
needed to make this profitable are +170?
(1-.370)/.370 X 100
turnip
SBR Wise Guy
Join Date:
12-03-06
Posts:
940
#2
12-04-10, 05:14 PM
Originally posted by
smallball
lets say my numbers show that team x will win 37% of the time. is my math accurate if the
odds
needed to make this profitable are +170?
(1-.370)/.370 X 100
Check out SBR's odds converter:
http://www.sbrforum.com/betting-tool...converter.aspx
Type in the probability in the " implied probability" field, and you see the conversion is indeed ~+170.
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Toples
SBR Sharp
Join Date:
12-18-07
Posts:
275
#3
12-06-10, 01:06 PM
its easier to understand this with decimal odds:
x-probability of event
1/x - decimal odds
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LT Profits
SBR Aristocracy
Join Date:
10-27-06
Posts:
90963
#4
12-06-10, 01:09 PM
You formula is correct, but the result is the BreakEven point. In other words, you need at least +171 to make it profitable.
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