[Ganchrow]

See http://www.sbrforum.com/Betting+Tools/

Betting Tools & Gambling Calculators

• Betting Spreadsheet
  Customize your own sports betting spreadsheet. Sort your plays by sportsbook, wager type, leagues, units and amounts. Share your plays and track plays of others in the SBR Handicapping Network.
• ScreenShot Toolbar
  - Take Screen shots of all your online bets
  - Quickly Find Rotation numbers
  - Search SBR, SBRForum and Google
  - Have the entire SBR Rating Guide at your fingertips
  - Quick launch live odds buttons for each league
• Arbitrage Calculator
  Calculates total value attained (positive or negative) from a completed multiway scalp and calculates bet size on each outcome to fully smooth results.
• Freeplay Value Calculator
  Determines the risk-free real dollar profit that may be obtained from betting and hedging a freeplay of given size.
• Half-Point Calculator
  Calculates the value of buying or selling half-points for MLB totals and NBA, NFL, NCAA Basketball, and NCAA Football spreads and totals.
• Kelly Calculator
  Calculates Kelly stakes for bets on up to either 15 simultaneous events or 15 mutually exclusive outcomes of a single event.
• Odds Converter
  Converts odds between US, decimal, fractional, percentage, Hong Kong, Indonesian, and Malay formats.
• Parlay Calculator
  This calculator determines parlay payouts as well as associated premiums given a set of underlying bet odds.
• Poisson Calculator
  Calculates win probabilities and odds for one or two variable Poisson-style proposition bets given an underlying win percentage.
• Reverse Bets
  This calculator determines the maximum win and loss amount for a given reverse bet, as well as the situational results based upon whether or not each underlying game wins, loses, or pushes.
• Round Robin Calculator
  This calculator determines the maximum win and loss amount for a given round-robin, as well as the situational results based upon whether or not each underlying game wins, loses, or pushes.
• Spread/ML Converter
  This calculator approximately converts between spreads and money lines for both pro and college football and basketball.
• Streak Calculator
  This calculator determines the probability of losing a streak of wagers over the course of a wager series of specified length.

Betting Tools Questions and Comments Thread

[Ganchrow]

Excuse me if I sound like an idiot but the only ones I understand are the parlay calculator and U.S./Decimal odds converter. Can someone please explain all the other ones?

I'll start off with the Freeplay Value Calculator, which, as its name implies, figures the value of a freeplay bonus based upon betting and hedging at specifioed prices.

For example let's say that a book offers you a $200 freeplay which you bet at +200 and hedge -215, You'd enter $200 into the "Freeplay Size" box, +200 into the "Freeplay Line" box, and -215 into the "Hedge Line" box.

When you click "Calculate" you see that the proper amount for the hedge bet would be $273.02 and your locked-in profit would be $126.98. This means that you would have captured 63.49% of the notional ($200) value of the freeplay.

Now compare that to the same $200 freeplay, bet at -110 (entered into the "Freeplay Line" box) and hedged at +120 (entered into the "Hedge Line" box). After clicking "Calculate" you see that the proper hedge bet under these circumstances would be $82.64 and the locked-in profit would then be $99.17. This means that you would have captured 49.59% of the notional value of freeplay.

The conclusion which could then be drawn from this is that betting a freeplay at +200, and hedging at -215 would be a better usage of the freeplay than betting at -110 and hedging at +120.

[Ganchrow]

Ganchrow or anyone else, could you please explain to me the usage of the Poisson, Reverse Bet and Round Robin Calculators?

I am familiar with the Poisson distribution for random numbers, but not really how it is being used in a practical betting context. Thanks.

One variable Poisson calculator:
Let's say a book is offering up a prop bet on an event you to believe to be Poisson -- let's say the number of 3-point attempts made by the Knicks in a particular game. The line 15.5o -105 15.5u -115.

You think that the based on historical averages the expected number of Knicks 3pt attempts is actually 15.2. Is th under bet positive expectation?

Solution:

1. Select "One Variable" radio button
2. Enter 15.2 into "Expected Average" text box
3. Enter 15.5 into "Proposition" text box
4. Click "Calculate"
5. We see that the probability of hitting the under ("Less than 15½") is 54.7611%, corresponding to a fair money line of -121.05
6. Since you'd only be laying -115 on the bet your edge would be positive. (How positive? Your edge would be 54.7611% * 100/115 - 45.2389% = 2.3794%)

Two variable Poisson calculator:
Let's say a book is offering up a prop bet on a combination of events, each one of which you to believe to be Poisson and independent -- let's say the number of 3-point attempts made by the Knicks in a particular game versus the number of 3-point attempts made by the Nets in a different game. The line line is Nets -1½ -110, Knicks +1½ -110.

You think that the based on historical averages the expected number of Knicks 3pt attempts is 15.2, and the expected number of Nets 3pt attempts is 17.0. Is Nets -1½ positive expectation?

Solution:

1. Select "Two Variable" radio button
2. Enter 15.2 into "Event A Expectation" text box
3. Enter 1.5 into "Spread" text box
4. Enter 17.0 into "Event B Expectation" text box
5. Click "Calculate"
6. We see that the probability of hitting the Nets -1½ ("A +1½ < B") is 52.0527%, corresponding to a fair money line of -108.56
7. Since you'd have to lay -110 on the bet your edge would be negative. (How negative? Your edge would be 52.0527% * 100/110 - 47.9473% = -0.6267%)

The reverse bet and round robin calculators respectively calculate reverse bet and round-robin risk, max win, and situational win/loss amounts given a notional bet amount, underlying lines, and outcomes.

[Ganchrow]

If you're like me, you frequently reuse many of the same excel sports betting formulas. I've compiled a few related to odds manipulation into this Excel template file as VBA functions. Eventually, I plan to greatly expand on these.

Here are the included functions:

1. US2Dec(USOdds) (usage 1): Converts US-style to decimal. So US2Dec(-110) = 1.909090909
2. US2Dec(range of USOdds) (usage 2): Converts an array or Excel range of US-style odds to decimal parlay odds. So US2Dec(-110,-110) = 3.644628099
3. Dec2US(DecimalOdds): Converts decimal odds to US. So US2Dec(1.909090909) = -110.
4. US2Prob(USOdds) or Dec2Prob(DecimalOdds): Converts from US or decimal odds to probability. So US2Prob(+100) = Dec2Prob(2.0000) = 50%.
5. US2Hold(range of US Odds) or Dec2Hold(range of Decimal Odds): Calculates theoretical hold based on an Excel range of US or decimal odds. So if cells A1 and A2 are both -110, US2Hold(A1:A2) = 4.54545%.
6. {US2Real(range of US Odds)** or {Dec2Real(range of Decimal Odds)**: (array function) Returns an array of zero-vig probabilities based on an Excel range of US or decimal odds. So if cells A1 and A2 are both -110, if B1, B2, and B3 were set to the array formula **=US2Real(A1:A2)**, B1 and B2 would both have the value of 50%, and B3 would have the value of the theoretical hold (4.54545%).
7. ProbUS2Edge(Probability, USOdds) or ProbDec2Edge(Probability, DecimalOdds): Calculates edge based on win probability and US or decimal odds. So ProbUS2Edge(55%,-110) = 5%
8. EdgeUS2Prob(Edge, USOdds) or EdgeDecimal2Prob(Edge, DecimalOdds): Calculates win probability based on edge and US or decimal odds. So ProbUS2Edge(5%,-110) = 55%.
9. ProbEdge2US(Probability, Edge) or ProbEdge2Dec(Probability, Edge): Calculates US or decimal odds based on probability and edge. So ProbEdge2US(55%,5%) = -110.
10. US2Exch(US Odds, Commission) or Dec2Exch(Decimal Odds, Commission): Calculates sportsbook equivalent lines given either US or decimal odds and sports exchange commission.
11. ExchUS2Hold(range of US Odds, Commission) or ExchDec2Hold(range of Decimal Odds, Commission): Calculates theoretical hold including sports betting exchange commissions based on an Excel range of US or decimal odds. So if the values of cells A1 and A2 both equal -102 ExchUS2Holds(A1:A2,2%) would equal the theoretical hold theoretical on the -102/-012 market inclusive of 2% exchange commission (a value of 1.961%).

If you want these functions to be available every time you start Excel you'll need to save the Book.xlt template file in your Excel XLStart directory ("C:\Program Files\Microsoft Office\OFFICE11\XLSTART\" by default for Excel 2003). (If the file already exists you shouldn't overwrite but instead choose a different name as in the next paragraph. Alternatively, if you know what you're doing, you could manually add the Excel VBA functions or module to your preexisting Book.xlt file).

If you want these functions to only be available only by request then save the file under a different name in the XLStart directory. For example, if you saved the file as Ganchrow.xlt, then by clicking "New" on the "File" menu, you'd be able to select the template "Ganchrow" and have all the above functions available.

Download Book.xlt from this thread

[WWTSblows]

By the way, I wanted to say thank you for these. By far, the best single source of calculators for this stuff.

[20Four7]

Why did this stop being a sticky? I'm sure it was for a while.

[cobra_king]

Why did this stop being a sticky? I'm sure it was for a while.

It's easily accessible on the SBR Live Lines page, on the right hand side, half way down the page!

[turnip]

Hi Ganchrow, I'm new here. I am getting strange reults from the Kelly calculator - " NaN% ". Perhaps, I am missing something? N.

Make sure you're using the version in this post, otherwise the "Expected Bankroll" and "Median Bankroll" will be wrong:

Kelly Calculator Down?

As for NaN%, I've encountered that when I made an error, such as entering decimal odds while "US Odds" was selected.

[Munson15]

Just wanted to thank Ganchrow for the freeplay calculator. I had never seen it until this afternoon, and by coincidence was holding a $150 freeplay at Bet Phoenix. I have always tried to pick up as close to half of any freeplays I got. When I think of the money I could have made over the years with this tool! I just made an extra $22 on the freeplay I mentioned above by using the ML calculator. Thanks Ganchrow and SBR.

[Munson15]

I'll start off with the Freeplay Value Calculator, which, as its name implies, figures the value of a freeplay bonus based upon betting and hedging at specifioed prices.

For example let's say that a book offers you a $200 freeplay which you bet at +200 and hedge -215, You'd enter $200 into the "Freeplay Size" box, +200 into the "Freeplay Line" box, and -215 into the "Hedge Line" box.

When you click "Calculate" you see that the proper amount for the hedge bet would be $273.02 and your locked-in profit would be $126.98. This means that you would have captured 63.49% of the notional ($200) value of the freeplay.

Now compare that to the same $200 freeplay, bet at -110 (entered into the "Freeplay Line" box) and hedged at +120 (entered into the "Hedge Line" box). After clicking "Calculate" you see that the proper hedge bet under these circumstances would be $82.64 and the locked-in profit would then be $99.17. This means that you would have captured 49.59% of the notional value of freeplay.

The conclusion which could then be drawn from this is that betting a freeplay at +200, and hedging at -215 would be a better usage of the freeplay than betting at -110 and hedging at +120.

By using the calculator I found that you do even better at higher odds, say +420 and -500.

[ChuteBoxe]

By using the calculator I found that you do even better at higher odds, say +420 and -500.

Pretty awesome to see ya here bud.

Ganch is a great guy, and extremely intelligent.

[Munson15]

Pretty awesome to see ya here bud.

Ganch is a great guy, and extremely intelligent.

Agreed on Ganch, Chute, and thanks for the greeting.

[Peep]

Any chance of leaving this pinned Ganch?

Good to refer to, gives an easy way to find it, I always get lost looking for it up top lol.

[tbiala]

i just became a member of this site after stumbling across it on google. i am very interested in checking out these betting tools but they dont show for me. anyone know why?

[Ganchrow]

i just became a member of this site after stumbling across it on google. i am very interested in checking out these betting tools but they dont show for me. anyone know why?

See http://www.sbrforum.com/Betting+Tools/.

[MadTiger]

By the way, I wanted to say thank you for these. By far, the best single source of calculators for this stuff.

QFT x 10

[MrLuckyPants]

I love Ganchrow

[tbiala]

Thanks. appreciate it!

[cochise]

Hello Ganchrow, first of all this is the best collection of calculators on the web....
my question is: what kind of formula one should use on excel to have a scalp calculator....is it even possible ?

[Ganchrow]

Hello Ganchrow, first of all this is the best collection of calculators on the web....
my question is: what kind of formula one should use on excel to have a scalp calculator....is it even possible ?

Thanks for the kind words.

Just to be sure I'm understanding you properly ... are you looking to recreate the JavaScript Arbitrage Calculator in Excel?

[cochise]

for example....if you have a match up between Team A +120 and Team B -111; and you risk 100 / 120 on team A, how much do you have to risk on team B to make an arbitrage ?
my question is if there is a math formula that you can use on excel...just that.

[Ganchrow]

$115.73

See attached spreadsheet sheet or Scalp/Arbitrage Calculator for a riskfree profit of $4.27 or 1.9772% of notional.

In general, if you're looking to balance results across outcomes then were you to risk $X on Team A, you'd risk $X *Odds(A) /Odds(B) on Team B, where odds are expressed in decimal format.

[permaslope]

I have a question regarding the usage of this sheet. Lets say I want to use Book A's pricing to determine the fair, no-vig price of an event. Lets say that event is -4500/+2000. Using the sheet I come up with a fair price of -2054/+2054. Now lets further assume I can get +4700 at another store. The sheet is telling me my edge on this is 127% using a fair line of -2054/+2054.

Is that correct?

[Ganchrow]

I have a question regarding the usage of this sheet. Lets say I want to use Book A's pricing to determine the fair, no-vig price of an event. Lets say that event is -4500/+2000. Using the sheet I come up with a fair price of -2054/+2054. Now lets further assume I can get +4700 at another store. The sheet is telling me my edge on this is 127% using a fair line of -2054/+2054.

Is that correct?

Using the US2FAIR() function gives a fair on a market of -4500/+2000 gives a fair value of ~+2054.35 on the dog.

Edge is then given by:

=US2DEC(4700) * US2PROB(2054.35) - 1 ≈ 122.8%

Or more succinctly:

=PROBUS2EDGE(4.642%,4700) ≈ 122.8%

[permaslope]

Ganchrow,
I just realized I made an error and used +4800 instead of +4700 which is where the discrepancy lies. Thank you for checking my work and thank you for making these wonderful tools available.