All games on the menus of legal sportsbooks feature lines that give the house an edge. No sports bet works out as an even money proposition on both sides.
The house edge allows the sportsbook to make money in the long term, no matter what actually happens on the field. Some games offer odds that favor the house more than others.
The Edge Table calculates the house edge for upcoming games across the top legal online sportsbooks. The Edge Table displays which sportsbook takes the lowest edge on each game, allowing bettors to evaluate which book presents the most player-friendly odds.
Sports Betting Edge Table
|Game||Odds||Bet Type||% Edge||Book|
|Currently, there are no upcoming games or bets.|
Calculating The House Edge
You can calculate the house edge on a particular game by converting the odds on both sides into implied probability. The favored team’s implied win probability percentage minus the underdog’s implied probability yields the edge built into a bet by the sportsbook.
Implied Probability Calculation For Negative American Odds
Suppose the line on an upcoming Kansas City Chiefs game looks like this:
|Kansas City Chiefs||-323|
To calculate the implied probability of the Chiefs winning, you have to put the payout odds into the implied probability for negative American odds formula:
Implied Probability = (-1*(Odds))/(-1(Odds) + 100)
Putting the Chiefs’ (-323) moneyline odds into this equation yields the following result:
That equation solves to 323/423, which converts to 76.36% (rounded up). The (-323) odds on Kansas City converts to a 76.36% implied probability of winning.
Implied Probability Calculation For Positive American Odds
To calculate the Dolphins implied probability at (+275) moneyline odds, take a look at the implied probability for positive American odds formula:
Implied Probability = 100/(Odds + 100)
Putting Miami’s (+275) line into this formula yields the following:
100/(275 + 100)
That equation converts to 26.67% as the implied winning probability for the Dolphins.
Using Implied Probabilities To Determine The House Edge
Now that you’ve converted the moneyline odds on both sides of the bet into implied probabilities, you can calculate the house’s built-in edge on the Kansas City-Miami NFL game.
To accomplish this, we add both implied probabilities together and subtract (1). Before we put the implied probabilities into the equation, we convert the percentages to decimal format:
(0.7636 + 0.2667) – 1
Which converts to:
1.303 – 1 = 0.303
The house edge on the Chiefs-Dolphins game in 0.303, or 3.03%.