How to Calculate the Winning Percentage for a Sports Betting System

The key to profitable sports betting is understanding statistics. Simply put, knowing the odds will help you make more accurate predictions and thus, make more money. Keep reading for some helpful tips on calculating your winning percentage for different sports and leagues!

Understanding The Basics

Before you start calculating any numbers, it is important to understand the basics. What is a percentage? A percentage is used to show how much of something you have compared to how much of something else there is. It is usually expressed as a formula similar to this:

(number of successes x 100) / (number of attempts x number of successes)

In the above example, we have two events: the Red Sox winning the World Series and a Boston Red Sox home game. There were three Red Sox games in total: two home games and one away game. If we assume that all three games had an equal probability of winning, then we can arrive at a winning percentage for the series as follows:

  • 189/300 =.625 (the number of successes x 100) / (3 x 2)
  • =.625 x 2 / 3
  • =.625 / 3

Betting On Football

American football is a game that many people enjoy watching and wagering on, particularly since the NFL Network has made it possible for casual fans to follow the games live with no broadcasting blackout restrictions. You can use this fact as a basis for calculating your winning percentage for the entire NFL season. Here are the steps:

  • Set up a column for the year and then click on the tab for the regular season
  • Select the team you are analyzing from the drop-down menu; then, select a league from the drop-down menu under NFL
  • Enter the number of games played (in this case, 12) in the games box at the top of the screen
  • Select the game you are analyzing from the drop-down menu; then, select the betting option from the drop-down menu
  • Click on the Calculate button to obtain the final winning percentage for the season

Betting On Ice Hockey

Another sport on which you can make a lot of money is ice hockey. Just keep in mind that it is very difficult to calculate the winning percentage for a hockey pool because there are many variations in the rules of the game. Also, the number of attempts needed to win varies from game to game and can be quite high. Here are the steps to follow if you want to make a living at the amusement park:

  • Set up a column for the year and then click on the tab for the regular season
  • Select the team you are analyzing from the drop-down menu; then, select a league from the drop-down menu under NHL
  • Enter the number of games played (in this case, 10) in the games box at the top of the screen
  • Select the game you are analyzing from the drop-down menu; then, click on the Calculate button to obtain the final winning percentage for the season

Betting On Baseball

Baseball is America’s pastime and the most popular sport to bet on. You can use this fact as a basis for calculating your winning percentage for the entire MLB season. Here are the steps:

  • Set up a column for the year and then click on the tab for the regular season
  • Select the team you are analyzing from the drop-down menu; then, select a league from the drop-down menu under MLB
  • Enter the number of games played (in this case, 154) in the games box at the top of the screen
  • Select the game you are analyzing from the drop-down menu; then, select the betting option from the drop-down menu
  • Click on the Calculate button to obtain the final winning percentage for the season

Handling Re-Sets and Clashes

You’ll probably need to handle re-sets and clashes when calculating the winning percentage of a sports betting system. A re-set occurs when the same team or the same player wins or loses a bet after having won or lost a set, respectively. A clash occurs when a team or player wins a set by default because the other team or player withdrew. You’ll need to include these results when calculating the overall winning percentage of a sports betting system. For example, if you are backing the Cleveland Browns in the NFL and they lose to the Baltimore Ravens but then beat the Bengals in the rematch, you’ll need to handle this situation by entering a re-set win and a clash loss.

Knowing The Trends

In addition to understanding the basics, you’ll need to consider the trends when calculating the winning percentage of a sports book. Some sports are more popular to bet on than others, and this can help you identify which events are most likely to result in a win. For example, you might notice that the Kansas City Chiefs have an excellent record this year when playing on the road, but they have not had much luck at home this year. This could indicate that fans are less likely to bet on the home team when there is no history of success. Understanding trends can help you make better predictions about which teams have a good chance of winning and which ones are likely to lose.

To learn more, check out the FAQ section of this site where I answer some of the more common questions that arise when using the tool. Additionally, if you’d like to stay up to date on any changes to the tool, simply click on the ‘Follow’ button on the dashboard to receive notifications when there are updates.