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Sports: Straight Bet
The calculator will calculate the house edge for an event that has just two possible outcomes, known as a "." Whether it be a spread against the spread, money line, or total, if there are only two possible outcomes, then you can use this calculator. Just put in the line on each outcome, click "calculate," and the calculator will tell you the house edge, assuming both sides have the same house edge.
The calculator defaults to American odds (for example -110, +120). The alternative is European odds, which are expressed on a "for one" basis (for example 1.9091, 2.2000).
Of course, I'm not claiming that both sides always have the same house edge. This is more of a tool to determine how much juice a casino takes out. For example, if a money lines on a are +300 and -450 then the balanced house edge would be 6.38%.
For bets with more than two or more possible outcomes, please see my futures calculator.
Written by:Michael Shackleford