WOYALE.Pools and odds
Woyale started as a place to run betting pools. These guides cover the maths behind pools and odds, with worked examples you can check.
Guides in this section
Minutes to read them all
Is it legal where you live?
All 50 states and DC, checked against each regulator.
Every pools and odds guide
Read them in order, or jump to the question you have.
How betting pools work: where the pot goes and what you get back
In a pool, everyone's stakes go into one pot. The operator keeps a set percentage, the takeout.
Pari-mutuel vs fixed odds: when the price is set and who carries the risk
With fixed odds, the sportsbook sets the price and you lock it in when you bet.
Odds formats explained: American, decimal and fractional, with conversions
American odds show profit on $100 (+150) or the stake needed to win $100 (-150).
Are office pools, bracket pools and football squares legal?
Whether an office pool is legal depends on your state. Where a social-gambling exemption exists, it usually requires that the organizer takes nothing and every dollar goes to winners.
Two ways to price a bet
Every bet has a price, and there are two ways to set it.
- Fixed odds. The sportsbook names a price, and you lock it in when you bet. If you take +150, you get +150 even if the line moves a minute later. The book carries the risk of a lopsided result, and its cut is built into the odds as the vig.
- Pari-mutuel (pool) betting. Everyone’s stakes go into one pot. The operator takes a stated percentage, the takeout, and the rest is shared among the winners in proportion to what they staked. Nobody knows the payout until betting closes.
Pari-mutuel vs fixed odds compares the two side by side, and how betting pools work follows the money through a pool.
A pool, worked through
A pool on one game takes $10,000 in stakes: $6,000 on Team A and $4,000 on Team B. The operator’s takeout is 10%.
| Step | Amount |
|---|---|
| Total pool | $10,000 |
| Takeout (10%) | $1,000 |
| Left for winners | $9,000 |
| Team B wins; staked on B | $4,000 |
| Return per $1 staked on B | $2.25 |
A $100 stake on Team B returns $225, which is $125 profit. If Team A had won, the same $9,000 would be split across $6,000 of stakes, or $1.50 per $1. The favorite pays less because more money backed it, and the takeout is the same either way.
Reading the odds
Fixed odds come in three formats that say the same thing in different ways.
| American | Decimal | Fractional | Implied probability |
|---|---|---|---|
| +150 | 2.50 | 3/2 | 40.00% |
| +100 | 2.00 | 1/1 | 50.00% |
| -110 | 1.91 | 10/11 | 52.38% |
American odds show the profit on a $100 stake (+150) or the stake needed to win $100 (-110). Decimal odds show the total return per $1, stake included. Fractional odds show profit per unit staked. On a two-way market at -110 each side, the implied chances add up to 104.76%. The extra 4.76 points is the book’s margin. Odds formats explained has the conversion formulas.
Office pools and the law
Bracket pools, survivor pools and football squares are everywhere, and whether they’re legal is a state question. Where a state has a social-gambling exemption, it usually requires that the organizer takes nothing and every dollar goes back to the players. A host who takes a fee, or runs the pool online for strangers, looks much more like a gambling operation. Collecting the money in crypto makes no difference. Are office pools legal covers the common tests, and your state page has the local law.
Why Woyale covers pools
Woyale began as a site for user-run betting pools, and the pool model is still the clearest way to see what an operator takes. A pool states its takeout as a percentage. A sportsbook builds it into the odds. Learn to spot both and you can compare any two bets on price.