Download the appBy Outlier · Updated
About the Hold Calculator
The Hold Calculator measures the margin built into a set of betting odds. It shows both overround and theoretical hold. Actual sportsbook hold also depends on the stakes placed and which bets win.
How to use this calculator
- Choose two or three outcomes that cover the whole market.
- Enter the offered odds for each outcome in the same format.
- Check each implied win chance and their total.
- Compare overround with theoretical hold to understand the margin.
Formula and definitions
- Convert each price to a win chance: 1 ÷ decimal odds.
- Add those win chances to get S.
- Overround = S − 1.
- Theoretical hold = (S − 1) ÷ S. Multiply each result by 100 for a percentage.
- S
- The total implied win chance as a decimal. 101% is 1.01.
- Overround
- The amount by which the implied win chances exceed 100%.
- Theoretical hold
- The margin as a share of stakes when all outcomes pay back the same amount.
- Actual hold
- The share of money staked that the sportsbook keeps after results.
Worked example
- +120 implies a 45.45% win chance. -125 implies 55.56%.
- Their total is about 101.01%.
- Overround is about 1.01%. Theoretical hold is about 1.00%.
How to read your result
A positive overround shows margin in the prices. Zero means the win chances add up to exactly 100%.
A negative overround may allow a profit across all outcomes if you can place every bet at those odds on matching terms.
Assumptions and limitations
- This is a margin estimate from prices. It does not measure a sportsbook’s actual revenue or profit.
- If you combine odds from different books, check betting limits and settlement rules at each one.
- Theoretical hold assumes stakes are split so every outcome gives the same total payout.
Common mistake to avoid
Overround and actual hold are different. Actual hold also depends on stakes, results, bonuses, and accounting rules.
Put your result to work
Try a related calculator, or read our sports betting strategy guides to learn more.
- Arbitrage & Hedge Calculator — Payouts for both outcomes
- Vig Calculator — Margin cost in dollars
- No-Vig Fair Odds Calculator — Odds without sportsbook margin
Hold FAQs
What is negative hold?
The implied win chances add up to less than 100%. That may allow a profit by covering all outcomes. Fees, betting limits, or a missing outcome can remove the opportunity.
How is overround different from theoretical hold?
Overround is the excess above 100%. Theoretical hold divides that excess by the full probability total. At -110 on both sides, overround is 4.76% and theoretical hold is 4.55%.
How results are calculated
Results use the formulas and assumptions above. Money is rounded to cents. Odds and percentages are rounded to make them easier to read.
The calculator uses the odds and win chances you enter. It does not load live odds.