Those formulas work fine but I do this a slightly different way as follows:
+450 = 100/(450+100) = 0.182 or 18.2%
-650 = 650/(650+100) = 0.867 or 86.7%
Total above equals 0.182 + 0.867 = 1.049 or 104.9%
For no juice you want the % to equal 100% so divide each value by 1.049
0.182/1.049 = 0.173 or 17.3%
0.867/1.049 = 0.827 or 82.7%
Now convert either % back to a Moneyline (for example):
(0.827/(1-0.827)) x 100 = 478
I also use these formulas to calculate the house hold % which is especially important with 3 way lines. The above shows the house hold % is 4.9% which is similar to a game with -110 lines both ways. I don't like to bet into lines with a house hold % above 5% unless they are props or I have a strong opinion. |