Betting Odds Calculator

HOW TO USE OUR BETTING ODDS CALCULATOR

An odds calculator is easy to use. Simply follow these steps:

Step 1: Input your odds. Most betting sites provide each odds option. It depends on the one you prefer. American, decimal, fractional odds, and implied probability can be calculated.

Step 2: Input the amount of money you want to stake. The odds calculator shows the amount of money you would win and the total payout you would receive. You can stake any value you like as long as your bankroll can handle it.

BETTING ODDS FORMATS

The three most important betting odds formats are American, decimal, and fractional odds. A betting odds calculator can calculate these formats. The sportsbooks in Asia may also quote Hong Kong, Indonesian, and Marlay odds. 

AMERICAN OR MONEYLINE ODDS

The American odds are also identified as Moneyline odds. The American odds usually start with a plus(+) or a minus(-). 

Positive odds (+): It states the amounts of profit you would earn from a $100 bet if your wager is successful. For example, an American odds of +120 would win $120 on a successful $100 bet. You would also get your stake returned for a successful bet, so your return would be $220.

Negative odds(-): It indicates the amount you would need to wager to get a $100 profit. For example, an American odds of -120  means that you must wager $120 to earn a $100 profit. You would get your stake returned if your bet wins so that your return is $220. 

You can wager any amount you like. If one of the teams has a negative odd and the opposition team has a positive odd, the negative one is the favorite while the positive one is the underdog. 

Decimal Odds: Decimal odds are mostly used outside of the United Kingdom, United States, and Ireland. It states the potential profits you should expect on your bet amount if your bet is successful. It includes the amount of profit earned and your stake. A decimal odd makes it easier to know your returns on a parlay. You can use a parlay calculator to make conversions in decimal and American odds.

For example, a decimal odds of 2.50 means that you would enjoy a return of $2.50 for every $1 you wager. That is $1.50 profit and $1, which represents your stake. 

Fractional Odds: It is used mainly in the United Kingdom and Ireland. It is also known as traditional odds. Fractional odds are quoted as a fraction showing the potential amount paid out relative to a given stake. The first number(numerator) is the amount you would win by risking, while the second (denominator) is your stake. A fraction odd of ⅘ means earning $8 profit for every $10 you stake. 

Fractional odds of ⅘ is equivalent to an American odds of -125 and a decimal odds of 1.80. If the fraction is less than one, it is known as odds-on. An odds converter can make this conversion.

WHY USE AN ODDS CONVERTER?

Sports betting is complex for someone new to the segment. The different formats used to represent the probability of an outcome can sound bewildering in some circumstances.

A betting calculator is a software used to convert the format of one odd to another. This helps in identifying the rewards and risk ratio before placing a bet. The main reason for a bet calculator is to make better decisions. Rather than making numerous calculations to understand a bet, one can use these calculators and converters at once. The calculator can support the different kinds of odds. It can help to quickly know the amount of a profit you will make based on your bet amount when you place a bet.

PROP ODDS

Prop betting is a wager based on the occurrences and non-occurrences of an event. These incidents may not correlate with the event's outcome, unlike points spread, futures or totals.

POINT SPREAD

A point spread represents the oddsmakers and then the best guess at the numerical separation between two competitors in the betting market. The oddsmakers adjust the lines so that the underdog gets an advantage. 

TOTALS

Totals or over/under betting is when you wager on the two teams' combined score in any game. A bet on the over means there is a probability that both teams will combine to score more goals, points, or runs than the total listed. Conversely, an under bet means you think there will be fewer goals or points than the total listed.

FUTURES

A futures bet is used to make long-term bets. The outcome of the bet is not decided till the distant future. It is used to wager on an event, series, or award that will finish in the future.

IMPLIED PROBABILITY

The implied probability is a factor that is important in deciding whether to place a bet or not. The implied probability correlates to the probability of an event needing to occur to justify any odds. It is the probability of a team winning. This applies to sports betting, horse racing, casino bet types, and other forms of wagers. 

Bettors generally are trying to find instances where the actual probability is greater than the implied probability odds. This represents an attractive bet. For instance, a +200 American odds is equivalent to a probability of 33.33%.

BETTING CALCULATOR FAQ

HOW DO YOU CALCULATE ODDS?

Odds are a way to identify the probability of an event occurring. It is the ratio of the probability of an event to happen to the probability of the event not happening.

WHAT DO +500 ODDS MEAN?

A +500 odds imply that you would win $500 for every $100 you gamble. If successful, your return is $600.

WHAT DOES +800 MEAN IN ODDS?

A +800 odd means that you would win $800 for every $100 successful gamble.

WHAT ARE THE ODDS CALCULATORS?

Odds calculators are used to computing odds. Examples are Arbitrage, Fair play, Half Point, Kelley, Streak, and Parlay calculators.