Implied Probability Calculator for Sports Betting (May 2025)

Welcome to a page that explains everything you need to know about odds and implied probability. Thanks to OddsJam, there’s a chance to use an implied probability calculator. You can assess the odds for a particular pick and work out whether there’s value in placing a wager. 

This guide will explain the concept of implied win probability so you can place sharper bets. Using the implied probability calculator will ultimately give you a stronger chance of landing a return on investment. You can do this for a wide range of different sports. We also explain how the American odds work and the formula that is used to work out probability.

It's good to know the difference between American odds, implied probability, and the true odds of an outcome happening. We’ll show you how to calculate implied probability and why it’s important for sports betting. OddsJam provides this as one of many betting tools, and we explain how you can benefit from signing up with this company.

It’s important to convert betting odds to implied probability. This will tell you the percentage chance of a pick winning. You simply take the odds and enter them into the implied probability calculator. 

When you have this percentage, you can then compare it to the true odds. If the former number is bigger, then it naturally follows to take this wager as it’s a value selection.

The betting implied probability goal is to find a pick where the odds are bigger than they should be. Using the implied probability win formula, you can establish any discrepancy between the former and the actual probability. 

By regularly betting on picks that are essentially value, you are getting an edge over the sports betting sites constantly. This means a greater chance of landing a return. 

Convergence implied probability does not mean guaranteed wins. However, knowing the implied probability does increase the chance of being successful with your bets. 

The implied probability calculator will simply allow you to enter odds and get a percentage likelihood of that pick winning. This is the view of the sportsbook with a built-in margin, which is also known as the vig. 

However, we want to conclude that the fair odds are bigger than the betting odds. Let’s say that the LA Lakers are +120 to beat the Minnesota Timberwolves in the NBA. These NBA odds are available with FanDuel Sportsbook. Using the implied probability win formula, you will find that the Lakers have a 45.45% chance of winning according to this book.

After careful investigation, you discover that the real probability is closer to 50%. This is based on the sportsbook with the tightest lines and removing the vig from the equation. 

You don’t need to know how to convert odds to implied probability. You simply need to understand when to take these odds based on whether they’re bigger than the real probability. 

You can use American odds for implied probability betting, and they are easy to understand. If the New England Patriots are +100 on the moneyline, it means you can double your stake if they win. It’s the same as evens (fractional) or 2.00 (decimal). With a positive figure, the American odds will always state the winnings from a $100 bet. 

If the Pats were -200 on the money line, that is the same as 1/2 in fractional terms or 1.50 in decimal terms. Any American odds expressed as a negative number means how much needs to be wagered to land a $100 profit. Any bet with implied odds of +100 or bigger is expressed with a positive. Anything regarded as bigger than a 50% probability will be denoted with a negative. 

For readers wanting American odds implied probability, there is good news. The implied probability calculator at OddsJam does all the hard work for you. 

OddsJam software uses a math formula, so you simply enter the odds for a team on the moneyline or spread. If the Boston Celtics -7.5 are -110 on the spread, then it suggests a 52.6% probability of them winning. Conversely, their opponents Orlando Magic, could be +7.5 at -110 with DraftKings Sportsbook. This would also mean a 52.6% probability. 

The reason why both probabilities are bigger than 50% can be explained. A sportsbook will build a vig into their betting odds, which means you would ultimately lose money by betting both picks for the same stake. The trick is to identify a sportsbook that has the odds wrong compared to the real probability.

The vig is also known as the juice when it comes to sports betting. It’s the built-in commission by a sportsbook as they operate a business. The aim for any reader is to achieve no-vig odds, and this is best achieved by holding accounts with several sports betting apps. In doing so, you stand a much better chance of getting true odds for a particular betting selection.

You can use an implied probability calculator to find the true odds for a bet. You will first convert betting odds to implied probability. You can then use the no-vig calculator at OddsJam to eliminate the juice. 

It’s then possible to compare the odds implied probability with the true odds. If the latter is bigger, that’s the time to consider placing a bet on that particular pick.

It’s very important to understand how to calculate implied probability. This will help you understand the potential value in a betting market. Using American odds, the math formula depends on whether the odds are negative (first example) or positive (second example). 

Example 1: Negative Odds

Negative American odds / (Negative American odds + 100) * 100 = implied probability.

So if the Golden State Warriors were -172 on the money line, it would be:

172 / (172 + 100) * 100 = 63.3%.

Example 1: Positive Odds

100 / (Positive American odds + 100) * 100 = implied probability. 

So if the Kansas City Chiefs were +100 on the money line, it would be:

100 / (100 + 100) * 100 = 50%. 

Thanks to the implied probability calculator at OddsJam, you can instantly find out the win percentage with each bet. This gives you a good starting point to assess how much value is with each wager.

The goal of having an implied win probability is to work out whether this percentage is bigger than your assessment. If you have the confidence that the true probability is higher for a pick, then it stands to reason to place a bet.

Let’s return to our previous example of the Kansas City Chiefs. They are +100 on the moneyline with DraftKings, suggesting a 50% implied probability. However, other sportsbook odds and your data suggest that the percentage is closer to 60%. It then stands to reason that the Chiefs are a value bet. 

The implied probability calculator at OddsJam is the best in the business. It’s super simple to use and just requires you to enter the American odds for a selection. After a while, you will start to learn certain probabilities, such as +100 being 50% and +200 being 33.3%. 

Here at Bookies.com, we would always recommend using an implied probability calculator. Using an implied probability calculator gives you a starting point for how likely a pick is to win. Also, it helps bettors compare the implied probability with the “fair” probability when it comes to a market. 

Ultimately, it’s all about the discrepancy between the two and needing the latter figure to be bigger to proceed with a bet. This helps to establish the expected value with a betting pick. It will also reveal the percentage gain between implied odds and true odds. We are looking for a positive expected value with any selection in order to benefit. 

We highly recommend signing up for OddsJam with OddsJam Promo Code BOOKIES, so that you can test the OddsJam Implied Probability Calculator.

Sportsbooks provide customers with the chance to wager on different sports. There are several types of bets, with the odds being set by each book. You will find that they differ across the board, and that provides a chance to explore various loopholes. 

The team of experts at OddsJam enable sports bettors to extract value. This is thanks to their software which will scan odds and provide sports betting tools and calculators to shed light on the best bets. There are free coaching calls available and outstanding customer service. The implied probability calculator is just the tip of the iceberg in terms of what is available. 

Head over to the OddsJam site and check out the various options on the table. Right now, you can select from the Gold or the Platinum package. There’s even the opportunity to have seven days free with each of these packages before deciding whether to subscribe or not. 

Kick off your free trial by using Apple Pay, Google Pay, Credit Card or Stripe Link. It’s your choice whether to go for monthly pay or go for annual pay. If you enter a promo code on the payment page, you can also benefit from a cost reduction.