Question 1

How do I convert American odds to decimal odds?

Accepted Answer

For positive American odds: decimal = 1 + (odds/100). For negative odds: decimal = 1 + (100/|odds|). Example: +200 = 3.00 decimal, -150 = 1.67 decimal.

Question 2

How does a parlay calculator work?

Accepted Answer

A parlay calculator multiplies the decimal odds of each leg together, then multiplies by your stake to calculate total payout. All legs must win for the parlay to pay out.

Question 3

What is the Kelly Criterion for betting?

Accepted Answer

The Kelly Criterion is a formula for optimal bet sizing: f = (bp - q) / b, where b is the net payout, p is your win probability, and q is the loss probability. Most bettors use half Kelly for lower variance.

Question 4

How do I hedge a bet?

Accepted Answer

To hedge, place a bet on the opposite outcome. Divide your original potential payout by the decimal hedge odds to find the hedge stake that guarantees equal profit regardless of outcome.

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