About Moneyline to Implied Probability Calculator
Use this calculator to convert moneyline odds or American odds into implied probability, percent chance, adjusted probability, and house edge. It works for favorites, underdogs, draws, and other three-way markets, and it can also help you remove the sportsbook vig, juice, or overround before you compare prices.
How to Use
Enter each event name and moneyline, add rows for more selections, and review the raw implied chance, adjusted chance, total implied chance, and house edge. The table works for favorites, underdogs, draws, and other three-way markets.
- Open the calculator : Use Moneyline to Implied Probability Calculator from the Finance category.
- Check the inputs : Review the required values and any optional settings.
- Read the formula : Use the formula and notes below to understand how the result is produced.
Common Questions
How do I convert moneyline odds to implied probability?
Yes. Enter the moneylines, and the calculator shows the raw implied chance, the adjusted chance after removing the market margin, and the house edge.
How do I calculate the implied chance for for win, loss, or draw given a moneyline?
Let's say you have betting odds of -300 for one team, +400 for a draw, and +800 for the other team. Yes, you can calculate the implied chance for each event. American odds use two formulas because favorites and underdogs are written differently. Negative odds use abs(odds) / (abs(odds) + 100), and positive odds use 100 / (odds + 100). For -300, 300 / 400 = 0.75, or 75.00%. For +400, 100 / 500 = 0.20, or 20.00%. For +800, 100 / 900 = 0.1111..., or 11.11%. Add the raw probabilities together and you get 106.11%. The extra 6.11% is the vig, juice, or overround. To remove it, divide each raw probability by 106.11%. That gives 70.68%, 18.85%, and 10.47%, which add back up to 100%.
Inputs
- Event - Optional label for the team, draw, or other outcome.
- Moneyline - Enter a positive or negative American moneyline, like -300 or +400.
- event2
- moneyline2
- event3
- moneyline3
- event4
- moneyline4
- event5
- moneyline5
- event6
- moneyline6
- event7
- moneyline7
- event8
- moneyline8
- event9
- moneyline9
- event10
- moneyline10
- event11
- moneyline11
- event12
- moneyline12
- event13
- moneyline13
- event14
- moneyline14
- event15
- moneyline15
- event16
- moneyline16
- event17
- moneyline17
- event18
- moneyline18
- event19
- moneyline19
- event20
- moneyline20
Outputs
- Total implied chance - Sum of the raw implied chances before adjustment.
- House edge - Raw implied total minus 100%.
Formula
Positive moneyline implied probability = 100 / (moneyline + 100). Negative moneyline implied probability = abs(moneyline) / (abs(moneyline) + 100). Adjusted chance = implied chance / total implied chance. House edge = total implied chance - 100%.