Changes

[[American odds]]represent betting prices through positive and negative numbers relative to a 100 unit base figure. Negative American odds require a risk of that amount in order to profit $100. Positive American odds yield a profit of that amount for an initial stake of $100. Converting positive and negative American odds to implied probability require separate formulas. {| class="wikitable" style="text-align: center; margin: auto;"|- style="background-color:#eaecf0;"|colspan="2"|'''Team'''|'''Spread'''|'''Total'''|'''Moneyline'''|-|[[File:Patriots.png|25px]]|New England Patriots| -3.5 (-110)| Over 44.5 (-110)| -180|-|[[File:Ravens.png|25px]]|Baltimore Ravens| +3.5 (-110)| Under 44.5 (-110)| +160|} In the NFL match above the New England Patriots are favored with -180 odds to win outright. Implied probability is calculated by dividing initial risk by total return. Since a bet on a market with -180 odds requires a risk of $180 in order to profit $100, it is converted into a percentage by diving the odds (180) by the odds augmented by 100 (180 + 100 = 280). The Baltimore Ravens are the underdog with +160 odds to win outright. An initial stake of $100 would yield $160 profit and a return of $260. Converting positive American odds into implied probability is done by dividing the odds (160) by the odds augmented by 100 (160 + 100 = 260). {| class="wikitable" style="text-align: center; margin: auto;"|- style="background-color:#eaecf0;"|colspan="2"|'''Bet'''|'''Odds'''|'''Calculation'''|'''Implied probability'''|-|[[File:Patriots.png|25px]]|Patriots ML| -180| 180 / (180 + 100) = 0.6429| 64.29%|-|[[File:Ravens.png|25px]]|Ravens ML| +160| 100 / (160 + 100) = 0.3846| 38.46%|}

Total return can be directly calculated by multiplying initial risk by [[fractional Fractional odds]]represent profit relative to initial risk. This makes it an easy format to convert into Odds are represented by a fraction. Betting the amount in the fraction's denominator will profit the amount in the numerator. Since implied probability. Percentage is calculated by dividing 1 initial risk by the total return fractional odds (taking can be converted into percentages by dividing the reciprocal denominator by the sum of the fraction).numerator and denominator: