Odds are not just payouts; they are probabilities expressed in a different language. To find value, you must be fluent in this language.
2. Implied Probability Conversion
This is the most critical skill in betting.
AMERICAN (+) CONVERSION
Formula: 100 / (Odds + 100)
Example (+150): 100 / 250 = 40%
AMERICAN (-) CONVERSION
Formula: Odds / (Odds + 100)
Example (-200): 200 / 300 = 66.6%
3. Finding Value
Value exists when: Your Probability > Implied Probability.
If you calculate a team has a 50% chance to win, but the odds imply a 40% chance (+150), you have a massive edge.
FAQ
Which odds format should I use?
Decimal odds (e.g., 2.50) are mathematically the easiest to use for calculating payouts and parlay multipliers.