How to Calculate Sports Betting Payout
There are many ways to get paid out for winning a bet when it comes to sports betting. From the ordinary point spread bets to money lines and parlays, let’s look at the various ways to calculate sports betting payout.
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Vig / Juice / Hold (Point Spread & Over/Unders)
The juice/vig/hold for a bet implies the amount a sportsbook holds on a losing wager. In terms of American Odds, -110 is the most common hold you will see, which means to pay out $1, you have to bet $1.10.
-110 often swings to -105 or -115 depending on where the sportsbook is trying to get more action. Yet the same rule of thumb would apply in needing to bet $1.05 and $1.15, respectively, to be paid out $1.
It’s also worth noting that the -110 hold indicates an implied probability of 52.38%. Why is that important?
Money Line
A money line, of course, negates the point spread in favor of making a bet a simple yes/no whether a particular team wins. At +100, a bettor who bets $1 would be paid out exactly $1, with an implied probability of 50%.
The higher the number on the right side of the (+), the higher the potential payout when a bettor wins that bet. For example, a +500 would payout 5 to 1 the original amount of the wager. Reversely, a (-) sign requires wagering more money to win less money. For example, for a money line side of -220, a bettor would need to wager $2.20 to win $1.
Parlay
For American bettors, to calculate parlay payouts, you first have to convert American Odds to Decimal Odds and then multiply each of the legs (i.e., different games involved) together. Luckily, ample parlay calculators exist, such as the VSiN parlay calculator that makes the calculation straightforward.
While the big payouts can be enticing, it’s important to note that parlays are amongst the lowest win percentages of any sports bet.
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Whether you’re new to sports betting or a betting pro, our How To Bet and Sports Betting Strategy and Advice pages are for you. You can get started with our 101 section — including How to Bet on Sports — or head to more advanced strategy — like 10 Tips to Become a Sharper Sports Bettor — to learn more.
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