Hold Calculator
Calculate the house edge and market efficiency. Analyze betting markets to identify value opportunities and understand the theoretical hold percentage.
What Is a Hold in Sports Betting?
In sports betting, the hold (also known as "juice" or "vig") is the percentage of money that sportsbooks retain from all bets placed on a market. It represents the bookmaker's built-in profit margin. For example, if a sportsbook's hold is 4.71%, it means that for every $100 wagered, the sportsbook expects to keep $4.71 as profit. The hold arises because sportsbooks set odds so that the implied probabilities of all outcomes exceed 100%. This ensures they profit regardless of the bet's outcome.
For bettors, lower holds indicate more favorable odds when comparing different sportsbooks. Avoiding high-hold markets also maximizes the chances of long-term profitability. A higher hold guarantees more revenue for sportsbooks, and adjusting it helps manage risk across different outcomes.
How to Calculate Hold
A Hold Calculator simplifies calculating this margin by converting odds into implied probabilities and summing them up. If the total exceeds 100%, the excess represents the hold percentage. Our calculator is designed for simplicity and accuracy, requiring just a few inputs to determine the sportsbook's margin.
Inputs Explained
Selection Odds
This input allows you to enter odds for two opposing outcomes (e.g., Team A vs. Team B). The calculator automatically converts each set of odds into implied probabilities, influencing the hold percentage.
Odds Format
Different formats (decimal vs. American) may affect bettors' perception of value but do not change the actual hold calculation.
Outputs Explained
Hold Percentage
The output displays the sportsbook's margin as a percentage of all bets on both market sides. A lower percentage indicates a better value for bettors, with 2% to 5% considered good.
Step-by-Step Example
Let's walk through an example using our calculator:
- Enter Selection Odds:
- Selection 1: 1.91
- Selection 2: 1.91
- View Implied Probabilities: Both selections have an implied probability of 52.36%.
- Calculate Total Book Value: 52.36 \+ 52.36 \= 104.72%
- Determine Hold Percentage: 104.72 - 100 = 4.72%
The result shows that this market's house edge is 4.72%, which is average for most sportsbooks.
Factors Affecting Hold
The hold is impacted by the type of market and its betting volume. Binary markets, events with two outcomes (win/lose), typically have lower holds (2%—5%). Meanwhile, futures markets, multi-outcome events like championship winners, often have higher holds (20%—30 %) due to increased uncertainty. Otherwise, markets with higher betting volumes, like NFL games, tend to have lower holds due to competition among sportsbooks.
How to Reduce Hold Impact
- Shop Around: Compare odds across multiple sportsbooks to find markets with lower holds.
- Focus on Low-Hold Markets: Stick to binary markets like point spreads or money lines, where holds are typically under 5%.
- Use Betting Tools: Combine our Hold Calculator with other tools, such as Arbitrage Calculators or Overround Calculators, to uncover additional value opportunities.
Hold Calculator Alternatives
While our Hold Calculator helps you analyze bookmaker margins, these additional calculators can complement your betting strategy:
- Kelly Criterion Calculator: Optimize bankroll management based on your edge and probabilities.
- Dutching Calculator: Split stakes across multiple outcomes for equal profit regardless of result.
- Hedge Bet Calculator: Lock in profits or minimize losses by hedging your bets.
- Accumulator Calculator: Calculate potential returns from multiple selections combined into one bet.
FAQs
What is a good hold percentage?
A good hold percentage depends on the market type but generally ranges between 2%-5% for binary markets like money lines or spreads.
How does hold affect my winnings?
Higher holds mean less favorable odds, reducing your potential winnings over time compared to low-hold markets.
Can I use this calculator for multi-outcome events?
Yes, you can input odds for multiple selections (e.g., futures markets) to calculate the total hold percentage.
Why do sportsbooks set high holds on some markets?
High holds are familiar in low-volume or high-risk markets where sportsbooks must protect themselves from potential losses.