Welcome to this guide to using our implied probability calculator. Perfect for seeing exactly how likely you are to win that next bet.
We’ve made sure that our implied probability calculator is wonderfully simple to use. You can just fire it up, enter your odds and see the percentage chance your bet has of succeeding. Perfect for getting an extra level of accuracy with your bets.
An implied probability calculator will simply turn any betting odds into a percentage. This means that you will be left with a number that shows the likeliness of your next bet winning rather than an indication of what kind of return you will get.
Implied probability is something that all serious betting fans use before placing their wagers on a sporting event. After all, it takes your stake and the potential returns out of the picture. Instead, it will focus on what the odds are suggesting is most likely to happen in the big game.
As such, you can use the implied probability calculator on this page to get a good idea of how likely that bet is to win. From here you can start thinking about adjusting your stake according to how risky the bet is. A smart way to bet with your head, rather than your heart.
Let’s take an example of how you could use our implied odds calculator in real life. Imagine that you saw a sportsbook’s odds of the Kansas City Chiefs to beat the Denver Broncos at odds of -300. Such a figure doesn’t really tell you how likely the Chiefs are to win.
However, if you use a bet calculator to give you the implied probability, it would take those -300 odds and translate them to give you a 75% percentage. This means that the Chiefs would be expected to win 75% of the games that they play against the Broncos in this situation.
The key thing to remember here is that these are just predictions that are based on the odds supplied by the sportsbook. While that 75% number may look pretty definitive, it doesn’t actually give you any greater indication of what’s going to happen compared to American odds, decimal odds and so on. As long as you remember this, then you should be able to use our calculator safely.
Now that you know what implied probability is, you’ll probably want to use it for your next sports bet. So here is a quick rundown of what you need to do:
From here, you will know how likely your bet is to succeed and make an informed decision about whether to back that bet with your own money or not.
While it’s nice that our implied probability calculator will do everything for you, it doesn’t hurt to know a little about how this piece of software actually works.
So check this table to see how it transforms your preferred odds format into implied probability:
| Odds format | How it converts to implied probability |
|---|---|
| Decimal | The number one is divided by the decimal odds and then multiplied by 100. |
| Fractional | The number one is divided by the fractional odds plus one. From here it is multiplied by 100. |
| American positive odds | 100 is divided by the American odds plus 100. Then it is multiplied by 100. |
| American negative odds | The American odds are multiplied by -1. From here, this number is divided by the American odds plus 100, and then multiplied by 100 |
Whichever odds format you use, you should find that you’ll get a percentage at the end of it that tells you your chances of winning. Hopefully, you’ll see that it’s far nicer to get our calculator to do all of that arithmetic for you.
While our bet calculator is wonderfully easy to use, you’ll still have to put in a little effort into actually finding the best bets and winning them. So here are few simple tips to help you out:
Don’t forget that implied probability is just betting odds reconfigured as a percentage and that the initial odds are formulated by an oddsmaker. Obviously the oddsmaker is just a human like you and there is every chance that they might have got it wrong. So just because you are using implied probability doesn’t mean you are any more likely to win your bet, it just removes your stake and potential returns from the equation.
Our implied odds calculator can only work with whatever odds you give it. So if you give it mediocre odds from an average sportsbook, you will just get a pretty bland winning percentage. This is why it always pays to shop around to find those sportsbooks who are willing to give you an extra edge in the odds on offer. After all, you will probably want to be getting a little extra in terms of returns from your winning bets.
Sometimes you’ll be using our implied probability calculator and you will simply get a result that doesn’t look too good. No matter which way you play it, it’ll look like your preferred bet has no chance of winning. In which case, it could be worth shopping around to see if you can find a no sweat bet deal from one of our approved sportsbooks. After all, these deals can refund your losing bets in bonus credits to give you a safety net for backing a rank outsider.
You have to remember that our implied odds calculator isn’t some kind of crystal ball and that nobody can actually tell the future. So rather than believing our calculator’s results are 100% correct, remember that they are just what’s likely to happen. As such, you should always play it safe and never wager more than you can afford to lose.
Most of us are guilty of thinking that our favorite sports teams are better than they actually are - and this doesn’t just apply to all of those Bears fans. Thankfully this implied probability calculator works wonders in taking your favoritism out of the equation. This means that you’ll get an unbiased picture of how likely your favorite team is to win their next game.
By now you should be pretty clued up on how implied probability calculators work and understand that they are valuable tools for all forms of sports betting. So here is a quick recap of the pros and cons for using this piece of tech:
This guide has shown you that an implied probability calculator is easily among the best tools for betting. After all, it simply clarifies the likelihood of your bet winning rather than just giving you some weird odds format.
Of course, you will need to use other bet calculators to understand how much you will get back from that victorious bet, but you’ll obviously have to win your bet first. So be sure to use our implied probability calculator every time that you want to bet on sports.
Yes, you can use all of our betting calculators for any sports under the sun, from football and basketball to hockey, baseball and beyond.
Our resource has a sports betting calculator for every requirement. From moneyline and parlay calculators, to arbitrage betting calculators, it’s all here.
It depends on whether you are dealing with positive or negative odds, and it’s a little too complex to discuss right here in this FAQ answer. Check our guide for a closer look and don’t forget that you can always use our bet calculator to do it for you.
