There is no concrete, “true probability” for an outcome. This seems easy, but how do you find true odds? Essentially, true odds are subjective. If that same outcome has a true probability of 52.38% or higher, then you would want to take that bet. We know that both outcomes have an implied probability of 52.38%. Let's use the above bet of -110 for both outcomes on a NFL spread bet. True odds are the odds that a bettor gives a certain outcome to happen. The implied probability of this spread bet winning would be 52.38% This gives both outcomes a win probability of 52.38%. A spread bet in football is normally offered at -110 on both sides of the bet. Implied odds are the conversion of a sportsbooks offered odds into an implied win probability. You can use our odds calculator above to calculate the implied odds of a given bet as long as you know the odds of the bet. Implied odds and true odds are important in determining if you are making a bet that has good value. When you decide to bet on sports, it is important to have a grasp on a few things. With this being said, lets look at an example from an NFL game. If you find a bet where the implied probability of an outcome is lower than the true probability, then that is usually considered a good bet to make. The odds that a sportsbook offers you is directly related to the implied probability of that outcome happening. It is very important to know what payout you are getting on a bet.
