Moneyline = American odds conversion from probability

Moneyline Formulas:

\[ \text{If } p \geq 0.5: \text{Moneyline} = -\frac{100p}{1 - p} \] \[ \text{If } p < 0.5: \text{Moneyline} = +\frac{100(1 - p)}{p} \]

Moneyline Odds:

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1. What is Moneyline (American odds)?

Definition: Moneyline odds represent how much money you would win on a $100 bet (positive odds) or how much you need to bet to win $100 (negative odds).

Purpose: It's the most common odds format used in the United States for sports betting and other probability-based wagering.

2. How is Moneyline Calculated from Probability?

The calculator uses different formulas based on the probability value:

\[ \text{If } p \geq 0.5: \text{Moneyline} = -\frac{100p}{1 - p} \] \[ \text{If } p < 0.5: \text{Moneyline} = +\frac{100(1 - p)}{p} \]

Where:

$ p $ — Probability of the event occurring (between 0 and 1)
Positive Moneyline — Underdog odds (potential profit on $100 bet)
Negative Moneyline — Favorite odds (amount to bet to win $100)

Explanation: For probabilities ≥ 50%, the formula calculates how much you need to bet to win $100. For probabilities < 50%, it calculates how much you would win on a $100 bet.

3. Importance of Moneyline Calculation

Details: Understanding moneyline conversion helps bettors compare odds across different formats and identify value in betting markets.

4. Using the Calculator

Tips: Enter the probability as a decimal between 0.01 and 0.99 (1% to 99%). The calculator will automatically determine if it's a favorite or underdog situation.

5. Frequently Asked Questions (FAQ)

Q1: What does a +200 moneyline mean?
A: +200 means a $100 bet would win $200 (total return $300). This represents an underdog with about 33.3% implied probability.

Q2: What does a -150 moneyline mean?
A: -150 means you need to bet $150 to win $100 (total return $250). This represents a favorite with about 60% implied probability.

Q3: How do I convert moneyline back to probability?
A: For positive odds: p = 100/(moneyline + 100). For negative odds: p = -moneyline/(-moneyline + 100).

Q4: Why are there two different formulas?
A: The formulas differ based on whether the outcome is more (favorite) or less (underdog) than 50% likely, maintaining the bookmaker's margin.

Q5: What's the difference between moneyline and decimal odds?
A: Decimal odds represent total return per unit bet (e.g., 2.00 = double your money), while moneyline shows profit relative to $100 bets.