Calculates total value attained (positive or negative) from a completed multiway scalp and calculates bet size on each outcome to fully smooth results.
Number of distinct possible non-push outcomes of the event (the number of horses in the race)
The bet that would need to be placed on event N to fully smooth results (i.e., so that the monetary result from each of the possible outcomes are equivalent)
Dollar profit (or loss) from completing scalp
Profit (or loss) as percent of total bet (if all bets take place at the same book this negative number would corresponds to the vig charged by that book)
If the odds offered on the different outcomes of a bet are sufficiently large then a profitable opportunity called ascalpexists. This is where a bettor may secure risk-free profits by betting on every possible outcome of the event.
For example, if one book were offering the Yankees to win against the Blue Jays at -150, and another book were offering the Blue Jays to win against the Yankees at +155, then for every $100 you bet on the Yankees, were you to bet $65.36 on the Blue Jays, youd guarantee a risk-free profit of $1.31 or 0.791%.
Likewise, if a given contest had 4 possible outcomes (such as, say, the number of contestants remaining on a season of American Idol, or the number of teams remaining in the NCAA tournament) and by shopping lines at different book you were able to find odds of +400 on each one to win, then by betting the same amount on each team or contestant youd have the same profitable result (+25%) regardless of the outcome.
This calculator may also be used to determine thetheoretical hold(also known asvigorjuice) charged by a book on a given market. By entering a given books line on every event outcome, then the negative of the % profit corresponds to the books theoretical hold. This represents the amount the book expects to make on average with any given bet. For example, if a book is offering team XYZ to win at -107 and is also offering team XYZs opponent to win at -107, we see that this implies juice of 3.271% (i.e., % Profit of -3.271%).
Note 1: The calculator accepts US or decimal odds. For Decimal odds greater than or equal to 100, preface the odds with either a 0 or a d. For example, decimals odds of 200.0000 could be entered as eitherd200 or 0200.
Note 2: The calculator will convert exchange money lines + commission into zero commission sportsbook-equivalent lines. If you enter a money line followed by a space and a percentage, it will treat that percentage as an exchange commission and the pair will be converted for you automatically. For example, if you entered a line as +100 2%, that would be converted to a zero commission line of -102.04.