Originally <a href='/showthread.php?p=21811053'>posted</a> on 05/08/2014:
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How to convert a moneyline to a percentage for a favorite:
Amount you need to bet to win a dollar / (Amount you need to bet to win a dollar + $1) = Favorites Percentage
Let’s say the favorite has a -400 moneyline. In this case you need to bet $4 to win $1. The formula would look like this: $4 / ($4 + $1) and it is equivalent to 80%.
How to convert a moneyline to a percentage for an underdog:
1/(Amount won when wagering $1 + $1) = Underdogs Percentage
Let’s say the underdog has a +300 moneyline. In this case if you bet $1 you’ll win $3. The formula would look like this: 1/($3 +$1) and it is equivalent to 25%.
Is this what you are looking for?
How to convert a moneyline to a percentage for a favorite:
Amount you need to bet to win a dollar / (Amount you need to bet to win a dollar + $1) = Favorites Percentage
Let’s say the favorite has a -400 moneyline. In this case you need to bet $4 to win $1. The formula would look like this: $4 / ($4 + $1) and it is equivalent to 80%.
How to convert a moneyline to a percentage for an underdog:
1/(Amount won when wagering $1 + $1) = Underdogs Percentage
Let’s say the underdog has a +300 moneyline. In this case if you bet $1 you’ll win $3. The formula would look like this: 1/($3 +$1) and it is equivalent to 25%.