1. What is Positive Betting Odds?

Positive betting odds (e.g., +150, +300) represent how much profit you would make on a $100 bet. They are typically used for underdogs in sports betting.

2. How Does the Calculator Work?

The calculator uses the positive odds to probability formula:

Where:

• \( Odds \) — The positive odds number (e.g., for +150, use 150)
• \( Probability \) — The implied probability (0 to 1)

Explanation: This formula converts the betting odds into the implied probability that the event will occur.

3. Importance of Probability Calculation

Details: Understanding the implied probability helps bettors assess whether a wager offers value by comparing it to their own estimated probability of the outcome.

4. Using the Calculator

Tips: Enter the positive odds number (without the + sign). For example, for +250 odds, enter 250. The calculator will show both percentage and decimal probability.

5. Frequently Asked Questions (FAQ)

Q1: What's the difference between positive and negative odds?
A: Positive odds show potential profit on a $100 bet (underdogs), while negative odds show how much you need to bet to win $100 (favorites).

Q2: How do I know if a bet has value?
A: Compare the implied probability to your own assessment. If your probability is higher than the implied probability, the bet may have value.

Q3: What does +200 odds mean?
A: +200 means a $100 bet would return $200 profit (plus your $100 stake). The implied probability is 100/(200+100) = 33.33%.

Q4: Can this calculator be used for decimal odds?
A: No, this is specifically for American/moneyline positive odds. Different formulas are used for decimal or fractional odds.

Q5: Why is understanding probability important in betting?
A: It helps you make informed decisions by quantifying the risk versus potential reward of each wager.