Coming off a 1-15 season that landed them the first overall pick in the upcoming NFL Draft, it shouldn’t be surprising that Vegas doesn’t think the Jaguars will be competing for a championship in 2021. In our odds preview for the Jags in January the Cardiac Cats had the lowest odds of all 32 teams to win Super Bowl LVI per BetMGM. With the season now over, their figure (+10000) and positioning remained the same, though there were changes in other places throughout the odds listings.

Positive odds - (100 divided by (the percentage divided by 100)) minus 100 e.g. A probability of 10% = (100 / (10 / 100)) - 100 = 900. Negative odds - The probability divided by (1 minus (the probability divided by 100)) then multiply by -1 to convert into a negative e.g. A probability of 60% = (60 / (1 - (60/100))).1 =. 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. For 4 to 48 odds for winning; Probability of: Winning = (0.0769) or 7.6923%. Losing = (0.9231) or 92.3077%.

The Kansas City Chiefs, who lost to Tampa this year in the big game, are the favorites to win next year at +550, followed by Green Bay (+900) and the defending champion Buccaneers (+1000), who improved their previous odds (+1200).

The Jags are expected to use the first overall pick to select former Clemson quarterback Trevor Lawrence, one of the best quarterback prospects in recent memory. And though they hope Lawrence will be the guy to turn things around in Duval, the gambling community seems to think that improvement could be a slow burn.

Here are the full betting odds for all 32 teams.

2022 Super Bowl LVI odds

Chart via: SportsbookWire

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.

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.'

Probability Formulas:

Betting Calculator With Points

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

1 In 10000 Odds

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

10000 Odds

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).

1000 To 1 Odds

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

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)

Breaking Odds Calculator

Further Reading