Sportsbook Hold Calculator

What this hold calculator does

Enter the American odds for each outcome in a market and the calculator shows the hold, which is the bookmaker margin. It also shows each outcome's no-vig probability and fair odds.

Toggle between a 2-way market (like a spread or total) and a 3-way market (like a soccer moneyline with a draw). The reference line shows what a standard -110 / -110 market holds.

How the math works

First convert each outcome's American odds to an implied probability. The hold is 1 minus 1 divided by the sum of those probabilities. A 2-way market at -110 and -110 has implied probabilities of 52.38 percent each, so the sum is 104.76 percent and the hold is 4.55 percent.

The no-vig probability for each outcome is its implied probability divided by the sum. The fair odds come from converting that no-vig probability back to American odds.

Worked example

A 3-way soccer moneyline at +150, +200, +300. The implied probabilities are 40 percent, 33.33 percent, and 25 percent, so the sum is 98.33 percent. Wait, that is below 100 percent, which means the book is offering a positive expected value to the bettor. That is rare and usually a stale line.

More commonly you see +130, +250, +310. The implied probabilities are 43.48 percent, 28.57 percent, and 24.39 percent, so the sum is 96.44 percent. That is still below 100, which means the hold is negative. In practice sportsbooks hold 4 to 8 percent on 3-way markets.

Common mistakes

Do not compare holds across markets with different numbers of outcomes. A 3-way market naturally holds more than a 2-way market because there are more outcomes to price. Compare 2-way to 2-way and 3-way to 3-way.

Another mistake is ignoring the hold when shopping lines. A market with a 2 percent hold is much better for you than one with a 6 percent hold, even if the odds look similar. The hold is the true cost of betting.

Frequently asked questions