1. What is Betting Probability?

The betting probability represents the implied probability of an outcome based on the risk/reward ratio of a bet. It helps bettors assess whether a wager offers value compared to their own probability assessment.

2. How Does the Calculator Work?

The calculator uses the probability formula:

Where:

• \( Risk \) — Amount you risk to win the bet
• \( Reward \) — Potential profit from the bet

Explanation: The formula calculates the break-even probability needed for a bet to be profitable in the long run.

3. Importance of Probability Calculation

Details: Calculating implied probability helps bettors compare against their own probability estimates to identify value bets with positive expected value.

4. Using the Calculator

Tips: Enter the amount you're risking and the potential reward. Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What's a good probability value?
A: A bet is considered good value when your estimated probability is higher than the implied probability calculated here.

Q2: How is this different from odds?
A: Probability is the conversion of odds into a percentage chance of winning.

Q3: Should I always bet when probability is low?
A: No, low probability doesn't necessarily mean good value - it must be compared against your own assessment.

Q4: What if the reward is zero?
A: The calculator requires both risk and reward to be positive numbers.

Q5: How accurate is this calculation?
A: The calculation is mathematically precise for the given inputs, but doesn't account for bookmaker margins.