Price Probability betting calculator

The Price Probability calculator calculates:

• The implied probabily of any given price
• the mathematically correct price for any given probability

Calculating the implied probability of any given price
This shows that a price of 2.62 implies a probability of 38.17%. In other words, if a horse is priced at 2.62 and you think that it has more than a 38.17% chance of winning, you would be getting good value by backing it at 2.62. Conversely, if you thought that the horse had less than a 38.17% chance of winning, you would lay it at 2.62.



Calculating the mathematically correct price for any given probability
This shows that if you thought Tiger Woods had a 70% chance of winning a golf tournament going into the final day, the mathematically correct price would be 1.43. If you want to back (lay) Tiger, you would try to back him at a higher (lower) price in order to get some value.