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True Implied Probability of Winning (American Odds)

Source: R/true_implied_prob.R
true_implied_prob.Rd

This function provides the true implied win probability for a bet.

Usage

true_implied_prob(odds, type = "us")

Arguments

odds

American Odds of the bet

type

Type of odds. Possible values are:

  • us, American Odds

  • dec, Decimal Odds

  • frac, Fractional Odds

Value

Implied probability of winning or the "Break Even" percentage

Examples

true_implied_prob(-150)
#>   true_prob imp_prob
#> 1         1      0.6
true_implied_prob(360)
#>   true_prob  imp_prob
#> 1         1 0.2173913
true_implied_prob(c(360, -500, -110, 140))
#>   true_prob  imp_prob
#> 1 0.1091760 0.2173913
#> 2 0.4185079 0.8333333
#> 3 0.2630621 0.5238095
#> 4 0.2092540 0.4166667
true_implied_prob(c(3.60, 5.00, 1.10, 1.40), type = "dec")
#>    true_prob  imp_prob
#> 1 0.13220246 0.2777778
#> 2 0.09518577 0.2000000
#> 3 0.43266259 0.9090909
#> 4 0.33994918 0.7142857
true_implied_prob(c(5/2, 1/2, 7/1, 20/1, 10/11), type = "frac")
#>    true_prob   imp_prob
#> 1 0.17328520 0.28571429
#> 2 0.40433213 0.66666667
#> 3 0.07581227 0.12500000
#> 4 0.02888087 0.04761905
#> 5 0.31768953 0.52380952