How do you calculate break even %

using -110 juice how do you can to 52.4% break even?

I will make this harder than it needs to be but this is how I look at it.  I look like an option(i am a trader).  What does -110 equate to in terms of Delta (options term you can look it up)?  100/110 is .909090909, you add 1 to that for 1.90909090909 then divide that into 100.  100/1.90909 = 52.38.  The 100 Delta is the payout on a winning outcome (or losing if you are selling, the bookie is the seller here.)  0 delta if the outcome is a loser.  Delta is really just the probability of the outcome happening.  So the bookie is selling at 52.38 when the delta should really be 50.  The markup is his fee to provide you with the liquidity to bet what you want.  So if I buy something (make a bet) and pay 52.38 delta and it wins my payout is 100-52.38 = 47.62.  So I am betting 52.38 to win 47.62 on a straight bet at -110.

Take a 2 team parlay where the book pays you 2.6/1.  That equates to a 27.77 delta (100/3.6).  What is the actual odds of hitting a 2 team parlay?  Well 4 equal scenarios (assuming ATS) can occur.  So 4/1 is 100/5 or 20 delta.  So I am paying 27.77 to win 72.23 on something that should be 20 to win 80. 

Sorry if that is confusing.  Its helpful in some betting we do here.  We had a crazy bet going on the world cup that would have been impossible to figure out if not for figuring out the deltas.  I am putting one together for the super bowl now.

If you're just looking at one bet then the easiest way is to take the absolute value of the odds and divide by itself plus 100 if it's a favourite.

-110
110/210 = 52.38

For a dog, take 100 and divide by 100 plus the odds.

+150
100/250 = 40.00


Hope that helps.

Well sure Jimmy you could just go and do it the easy way haha.

If anyone understood my delta garbage, I have been taking this bet today on the desk.
 

Thank you guys for the most useful post I've read in a while. A popular question receives two different but accurate answers. I learned something and I imagine those that were already aware of this got a second point of view.

I would love to see more posts like this in the new year.

/||an jester