Question 1

How do you calculate implied probability from betting odds?

Accepted Answer

For negative American odds: Implied Probability = |Odds| / (|Odds| + 100). For positive odds: Implied Probability = 100 / (Odds + 100). Example: -150 odds = 150/250 = 60% implied probability. +200 odds = 100/300 = 33.3% implied probability.

Question 2

What is a hedge bet calculator used for?

Accepted Answer

A hedge bet calculator determines the optimal stake on a second bet to guarantee profit or minimize loss regardless of outcome. It's commonly used when you have a futures bet that's close to winning, or during live betting to lock in profit on a parlay.

Question 3

How do you calculate the hold percentage of a sportsbook?

Accepted Answer

Hold percentage = 1 - (1 / (Implied Prob Side A + Implied Prob Side B)). For standard -110/-110 lines, each side has 52.38% implied probability, totaling 104.76%. The hold is 1 - (1/1.0476) = 4.55%. Lower hold means better value for bettors.

Question 4

What is expected value (EV) in sports betting?

Accepted Answer

Expected Value = (Probability of Winning × Amount Won per Bet) - (Probability of Losing × Amount Lost per Bet). Positive EV (+EV) bets are profitable long-term. Example: A bet at +150 with 45% true probability has EV = (0.45 × $150) - (0.55 × $100) = +$12.50 per $100 wagered.

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