A tool designed to calculate true probabilities and payouts removes the sportsbook’s commission, commonly referred to as the “vig” or “vigorish.” For instance, in a standard point spread bet with a -110 moneyline on both sides, this tool would reveal the implied probabilities and the payout reflecting the actual odds without the house’s built-in profit margin. This allows bettors to assess the true value of a wager and compare it to their own assessment of the event’s likelihood.
Utilizing such a tool provides crucial insights for informed wagering. By stripping away the bookmaker’s commission, bettors gain a clearer understanding of the perceived probabilities and can identify potentially advantageous wagers. Historically, understanding true odds has been a cornerstone of successful gambling strategies. This type of analysis provides a foundation for more sophisticated betting approaches like value betting, where wagers are placed only when the odds offered exceed the bettor’s estimated probability of the event occurring. This empowers bettors to make more objective decisions, potentially leading to increased profitability over time.
