How to use the vig calculator
Bet Calculator Our Bet Calculator allows you to automatically calculate the Payout for any given combination of Stake and Odds, including Multiples. Enter the Stake and Odds for your bet and the Bet Calculator will automatically calculate the Payout. Note 1: The calculator accepts US or decimal odds. For Decimal odds greater than or equal to 100, preface the odds with either a “0” or a “d”. Sports betting fans can enter their hedge. Our parlay calculator will combine up to 12 games and calculate your payout based on your bet amount and the odds for each game. Find out how much you'll win on any parlay.
Betting Odds Payout Calculator
The +140 American odds convert to 2.40 decimal odds, 7/5 fractional odds, 1.40 for Indonesian/Hong Kong odds, and -0.7143 Malay Odds. A tool like our moneyline calculator can be a crucial component of a betting strategy when evaluating odds at sportsbooks that use different notations. Betting Calculator Before making any bet, it helps to know what you're risking for the expected payout. Enter Your 'Bet Amount' - that's what you're risking, along with the American, fractional or decimal odds. See what your total payout.
Enter American odds (ex: -110) for each team and view the “Vig %” for the given odds. The vig percentage represents how much “vig” or “vigorish” the sportsbook is charging you. This is also known as “juice” or “hold” in the sports betting industry.
The vig tells you how much the sportsbook is making when it offers a two sided bet. The higher the number, the more the sportsbook is making.
Use the calculator to find bets that minimize the vig. This will help you have a better chance of winning in the long run in sports betting.
For example, if you enter odds of -250 and +250, that would mean the vig is 0. This is a great scenario for the bettor as it means it is essentially a 50/50 bet without having to pay anything extra. The equivalent would be someone giving you 50/50 odds on a coin flip.
How to calculate market hold
Another way to use the vig calculator is to calculate market hold.
Money Line Bet Calculator
Market hold is the vig percentage across multiple different sportsbooks, choosing the best price from each side.
The benefit of doing this line shopping is that you will often bet at much better prices than you would have at a single sportsbook.
Take the image above for example. If you wanted to bet on a side for the Cincinnati Bengals at Pittsburgh Steelers, you can see the odds across multiple different sportsbooks.
If you only bet at DraftKings Sportsbook, then you would either bet on Cincinnati at +163 or Pittsburgh at -200. Entering those two values in the calculator shows a 3.4% hold. That means that DraftKings is making ~4.7% on this market on average.
However, you can see that William Hill is offering +175 on the Cincinnati Bengals while FanDuel Sportsbook is offering -190 on the Pittsburgh Steelers. If you were signed up at either of these sportsbooks, then you could bet at these improved prices.
Sports Betting Payout Calculator
Entering these two values into the calculator outputs a market hold of 1.9%. That means you have saved ~60% of the cost you would have paid by just choosing between the two sides on DraftKings (1.9% / 4.7%).