1000 To 1 Odds

The NFL season kicks off this week with something special -- a potentially historic Super Bowl long shot that could be a double-digit underdog against the Cleveland Browns.

The New York Jets are 1,000-1 to win the Super Bowl at the Westgate SuperBook in Las Vegas, preseason odds that are longer than any ever seen before, according to some Vegas oddsmakers.

Last year, the Browns and San Francisco 49ers started the season with the worst odds, but they were only 200-1, a more standard number for the biggest long shots on the board in early September.

If $10 is bet at odds of 3/1, the potential profit is $30 ($10 x 3) and the total returned is $40 ($30 plus the $10 stake). Implied Probability. Odds correlate to probability. A 4/1 bet is expected to win one in every five attempts, therefore the probability is 20%. Odds Conversion Table. Find 07 March, 2021 golf futures betting odds. Compare spreads & lines from the best sportsbooks for each tournament this year. 50% Up To $1000. Using the +120 odds, it shows us that a $100 bet on that outcome would pay out $120 in profits. Again this can easily be converted into smaller or larger size bets. A $10 bet on +120 odds would pay out $12 in profits. Examples: Below is an example of NFL betting odds taken from an online betting site. Odds of 1/1 are known as evens or even money. Not all fractional odds are traditionally read using the lowest common denominator. Perhaps most unusual is that odds of 10:3 are read as 'one-hundred-to-thirty'. Fractional odds are also known as British odds, UK odds, or, in that country, traditional odds.

'[I've] never seen any NFL team this high before any games are played,' said Ed Salmons, a 30-year veteran Las Vegas oddsmaker and assistant manager at the Westgate.

Then again, there may never have been a team like the 2017 Jets, who are allegedly in tank mode. Over the past several months, they've parted ways with their biggest established names, leaving a roster void of proven top-tier talent and major question marks at quarterback. Their odds have lengthened accordingly.

'I think the Jets will probably be the lowest team we've ever power-rated,' Salmons said.

The Jets are 200-1 to win the AFC East and 40-1 to reach the playoffs. Those interested in betting against the Jets to make the playoffs at 1-200 odds will need to put up $20,000 to win $100 at the Westgate. As of Sunday, there had not been any takers.

The Jets are 8-point underdogs at Buffalo in the season opener. With a bad performance, Salmons said the Jets could easily be 17-point underdogs in Week 2 at Oakland and potentially 10-point underdogs at Cleveland in Week 5.

The Browns have not been a double-digit favorite in any game since the 2007 season.

The Jets are at New England in Week 17, which may temper the spread depending on how meaningful the game is for the Patriots. Otherwise, Salmons said the Jets could end up being 28-point underdogs against New England.

The Atlanta Falcons were 28-point underdogs to Johnny Unitas and the Baltimore Colts in 1968, marking the largest point spread in the Super Bowl era, according to ESPN Stats & Information.

Even at giant odds, bets on the Jets have been few and far between. Since moving the Jets to 1,000-1 to win the Super Bowl in late August, the Westgate had taken just six bets, totaling $55.

Not surprisingly, the Jets have attracted the fewest Super Bowl bets of any team at William Hill's Nevada sportsbooks, with the largest wager only $120. There have been three $50 bets on the Jets to win the AFC East at William Hill.

There are those with more belief in the Jets, though.

Earlier in the year, a bettor at sportsbook operator CG Technology put $500 on the Jets to win the Super Bowl, when their odds were only 125-1. That bet would pay $63,000.

Calculator Use

Convert stated odds to a decimal value of probability and a percentage value of winning and losing. This calculator will convert 'odds for winning' an event or 'odds against winning' an event into percentage chances of both winning and losing.

$100 Bet On 1000 To 1 Odds

Be careful if you are using sports teams odds or betting odds. If you see that the Patriots super bowl odds are 9/2, that is most likely 'odds against' and should be entered in the calculator with 'Odds are: against winning.'

When playing a lottery or other games of chance be sure you understand the odds or probability that is reported by the game organizer. A 1 in 500 chance of winning, or probability of winning, is entered into this calculator as '1 to 500 Odds are for winning'. You may also see odds reported simply as chance of winning as 500:1. This most likely means '500 to 1 Odds are against winning' which is exactly the same as '1 to 500 Odds are for winning.'

Thing With 1000 To 1 Odds

Probability Formulas:

This calculator will convert 'odds of winning' for an event into a probability percentage chance of success.

Odds, are given as (chances for success) : (chances against success) or vice versa.

If odds are stated as an A to B chance of winning then the probability of winning is given as P_W = A / (A + B) while the probability of losing is given as P_L = B / (A + B).

For example, you win a game if you pull an ace out of a full deck of 52 cards. Pulling any other card you lose. The chance of winning is 4 out of 52, while the chance against winning is 48 out of 52 (52-4=48). Entering A=4 and B=48 into the calculator as 4:48 odds are for winning you get

1000 To 1 Odds Payout

For 4 to 48 odds for winning;
Probability of:
Winning = (0.0769) or 7.6923%
Losing = (0.9231) or 92.3077%
'Odds for' winning: 1:12 (reduced from 4:48)
'Odds against' winning: 12:1 (reduced from 48:4)

Thing With 1000 To 1 Odds

Further Reading