Use the following formula for anything with a minus sign in front of it, but drop the negative sign. Use our Odds Converter tool to get implied probabilities, or you can do it yourself. So how do you convert to implied probability? You can calculate the juice by adding up the implied probabilities of each side, and then subtracting from 100. If you want to get more technical on calculating juice, read on.Įvery set of odds in sports betting is just the probability of all the outcomes offered.Īn even-money bet like a coin flip is 50% on each side, meaning the implied probability of the event is 100%.īut the probability when betting sports will be greater than 100%, because the sportsbook needs its cut. That's why the house has such an advantage - they're collecting at least $1 for every $10 bet. While a normal NFL point spread should be -110 (10%) on both sides, a player prop might be -120 (20%) on both sides.
Different sportsbooks, like BetRivers or PointsBet, take different cuts depending on what you're betting.
