This summer I read a book that is essential reading for any sports bettor, beginner, or expert. The book is called Weighing the Odds in Sports Bettingby King Yao. In this book Yao explains how to think about and beat sports betting. He draws from his successful career in financial derivative markets and examines sports betting in that vein. Chapters on general sports betting include information on the sports-betting market, different ways to beat sports betting, scalping, middling, hedging, tips for bettors and handicappers, how to evaluate other handicappers and an enlightening interview with a Las Vegas professional bettor.

In Chapter 1, Yao shows the reader How to convert a money line into a percentage.

Convert a money line into its equivalent win percentage by dividing the amount you risk by the amount your ticket will be worth if your bet wins. The ticket amount is your win plus the amount you bet.

The $50 wager would return $80.30 to the bettor ($30.30 profit plus the original $50 bet). To calculate “+” odds, divide the odds by 100 and multiply that product by the amount of the wager.

1. Sports Betting Spread to Moneyline Converter. The spread to moneyline converter allows you to see the estimated moneyline for a specific point spread. Favorite Spread Odds. Underdog Spread Odds. Estimated Favorite Moneyline.
2. Decide whether you want to convert from point spread to moneyline, or vice versa. Enter the odds type you would like to use: American odds are US odds, decimal odds are referred to as Euro odds.
3. Convert American, Decimal and Fraction odds while also getting implied probability and calculating moneyline payouts with our betting tool. Odds of 1/3 will pay only 33.33 percent of the.

If the money line is negative, then take the money line and divide it by itself minus 100. For example, a money line of -129 converts to 56.3%:

=-129 / (-129 -100)

=-129 / -229

=56.3%

If the money line is positive, then take 100 and divide ti by the money line plus 100. For example, a money line of +109 is converted to 47.8%

=100 / (109+100)

=100 / 209

=47.8%

Converting percentage into a money line

If the percentage is greater than 50%, then divide it by 100% minus itself, and multiply by -100. For example, 55% is conveted to -122

= PERC / (100% – PERC) x (-100)

= 55% / (100% – 55%) x (-100)

= 55% / 45% x -100

= 1.22 x -100

= -122

If the percentage is less than 50%, then take 100% minus itself divided by itself, then multiply by +100, then put a plus sign in front of it. For example, 45% is converted to +122

= (100% – PERC) / PERC x 100

= (100% – 45%) / 45% x 100

= 55% / 45% x 100

= 1.22 x 100

= +122

So how is this useful?

I use the later set of formula’s (Converting percentages into money lines) every time I place a bet. Sometimes I can cap my own games and determine that Team A has a 66% chance to win a game. Other times, I use ESPNinsider to simulate the games for me (this requires a premium subscription). In my sports betting Excel spreadsheet, I already have the two formula’s entered in so all I have to do is substitute the percentages to get my money line.

So let’s say that ESPN says Alabama has a 66% chance to beat Tennessee. Using the formula above, I determine that based on that percentage, the money line should be Alabama -194. At this point, the Alabama money line is actually only -170, so basically ESPN’s simulation says there is a -24 point value in taking Alabama. You see what I’m saying? This is also helpful with line movement in that it quantifies in cents how much value that bet has gained or lost since it opened.

Calculator Use

Convert decimals to percentages with this calculator. Input a decimal number to convert both the whole number and decimal part of the number to a percent value.

How to Convert a Decimal to Percent:

Convert Moneyline To Percentage Markup

Multiply by 100 to convert a number from decimal to percent then add a percent sign %.

• Converting from a decimal to a percentage is done by multiplying the decimal value by 100 and adding %.
• Example: 0.10 becomes 0.10 x 100 = 10%
• Example: 0.675 becomes 0.675 x 100 = 67.5%
• The shortcut to convert from decimal to percent is to move the decimal point 2 places to the right and add a percent sign.

How to Convert a Percent to a Decimal:

Divide by 100 to convert a percent to a decimal and remove the percent sign %.

• Converting from a percent to a decimal is done by removing the percent sign % and dividing the value by 100.
• Example: 15.6% becomes 15.6 / 100 = 0.156
• Example: 235% becomes 235 / 100 = 2.35
• The shortcut to convert from a percent to a decimal is to move the decimal point 2 places to the left and remove the percent sign.

Express 0.5 as a percent

The mathematical process in converting a decimal to a percent is as follows:

Convert 0.5 to a percent:

'Percent' means 'per 100' or 'over 100'. So, to convert 0.5 to percent we rewrite 0.5 in terms of 'per 100' or over 100.

Multiply 0.5 by 100/100. Since 100/100 = 1, we are only multiplying by 1 and not changing the value of our number.

[ frac{0.5}{1} times frac{100}{100} = frac{50}{100} ]

50/100 is 50 over 100 and means 50 per 100.

50 'per 100' means 50 'percent' or 50%.

Therefore, we have shown that

Related Calculators

To convert a percent to a decimal see the Percent to Decimal Calculator.

References

Convert Moneyline To Percentage Calculation

Khan Academy: Converting decimals to percents: 0.601; Note: All Khan Academy content is available for free at www.khanacademy.org

Moneyline To Odds Calculator

Cite this content, page or calculator as:

Betting Odds Converter

Furey, Edward 'Decimal to Percent Calculator'; CalculatorSoup, https://www.calculatorsoup.com - Online Calculators