Figuring out odds if you have percentage of an event happening

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  • smallball
    SBR Wise Guy
    • 01-16-10
    • 610

    #1
    Figuring out odds if you have percentage of an event happening
    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
    • 12-03-06
    • 940

    #2
    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.
    Comment
    • Toples
      SBR Sharp
      • 12-18-07
      • 275

      #3
      its easier to understand this with decimal odds:

      x-probability of event

      1/x - decimal odds
      Comment
      • LT Profits
        SBR Aristocracy
        • 10-27-06
        • 90963

        #4
        You formula is correct, but the result is the BreakEven point. In other words, you need at least +171 to make it profitable.
        Comment
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