H
Hannman
Guest
American odds are another way of representing the probability of an event occurring, commonly used in the United States. To convert American odds to Naira, you first need to understand how to read them.
American odds are represented as a positive or negative number, with a negative number indicating the favorite and a positive number indicating the underdog. The number represents how much money you would need to bet to win 100 Naira (for negative odds) or how much money you would win on a 100 Naira bet (for positive odds). For example, if the odds are -200, you would need to bet 200 Naira to win 100 Naira, giving a potential payout of 300 Naira (200 Naira bet plus 100 Naira profit).
To calculate the decimal odds equivalent of American odds, you add 1 to the absolute value of the odds divided by 100, then multiply by the odds sign (+1 or -1). For example, if the odds are -200, you add 1 to 2.00 (absolute value of 200 divided by 100) and multiply by -1 to get 1.50.
Here’s an example:
Let’s say you want to bet on a basketball game between the Los Angeles Lakers and the Boston Celtics. The American odds for the Lakers to win are -150.
To calculate the decimal odds equivalent, you add 1 to the absolute value of -150/100, which is 1.5, and multiply by -1 to get 1.67.
To calculate the potential payout of a 1,000 Naira bet on the Lakers, you divide the bet amount by the odds and then multiply by 100. So, for a 1,000 Naira bet on the Lakers with American odds of -150, the potential payout would be (1,000/150) x 100 = 666.67 Naira.
So, if the Lakers win the game, your payout would be 1,666.67 Naira (the potential payout of 666.67 Naira plus your original stake of 1,000 Naira). If they lose, you would lose your 1,000 Naira bet.
American odds are represented as a positive or negative number, with a negative number indicating the favorite and a positive number indicating the underdog. The number represents how much money you would need to bet to win 100 Naira (for negative odds) or how much money you would win on a 100 Naira bet (for positive odds). For example, if the odds are -200, you would need to bet 200 Naira to win 100 Naira, giving a potential payout of 300 Naira (200 Naira bet plus 100 Naira profit).
To calculate the decimal odds equivalent of American odds, you add 1 to the absolute value of the odds divided by 100, then multiply by the odds sign (+1 or -1). For example, if the odds are -200, you add 1 to 2.00 (absolute value of 200 divided by 100) and multiply by -1 to get 1.50.
Here’s an example:
Let’s say you want to bet on a basketball game between the Los Angeles Lakers and the Boston Celtics. The American odds for the Lakers to win are -150.
To calculate the decimal odds equivalent, you add 1 to the absolute value of -150/100, which is 1.5, and multiply by -1 to get 1.67.
To calculate the potential payout of a 1,000 Naira bet on the Lakers, you divide the bet amount by the odds and then multiply by 100. So, for a 1,000 Naira bet on the Lakers with American odds of -150, the potential payout would be (1,000/150) x 100 = 666.67 Naira.
So, if the Lakers win the game, your payout would be 1,666.67 Naira (the potential payout of 666.67 Naira plus your original stake of 1,000 Naira). If they lose, you would lose your 1,000 Naira bet.
