Hey everyone, I am new to this so I am a little lost. I am having trouble calculating my units when I bet on baseball. To make it easy lets say I bet 10 dollars on every game. If I bet 10 dollars on a team that is +145 and they win then I have 1.45 units ($14.50), if they lose then I have -1 unit (-$10.00).
What I am having trouble figuring out is how many units I win if I bet on a favorite and the favorite wins. If I bet 10 dollars on a favorite who is -145 and they win, how do I know how many units I have won? I know it would be less than 1 unit but how do I figure it out? Is there a formula I can use? I fully realize the answer is probably very obvious but I just can't seem to figure it out. I have always been bad with math. If anyone could help me out with this I would greatly appreciate it. I tried googling it with no luck. Thanks.
What I am having trouble figuring out is how many units I win if I bet on a favorite and the favorite wins. If I bet 10 dollars on a favorite who is -145 and they win, how do I know how many units I have won? I know it would be less than 1 unit but how do I figure it out? Is there a formula I can use? I fully realize the answer is probably very obvious but I just can't seem to figure it out. I have always been bad with math. If anyone could help me out with this I would greatly appreciate it. I tried googling it with no luck. Thanks.