A betting odds calculator helps you make smart bets. You can enter how much you want to bet, and input the odds in American, Fractional, or Decimal format. The calculator will show you how much you can win or lose. It will also tell you the chances of winning or losing through the probability calculator. This way, you can see the risks and rewards before you bet.
Bet Calculator
Decimal Odds:
American Odds:
Fractional Odds:
Implied Probability:
Payout:
Winnings:
How To Use A Betting Odds Calculator
Odds calculators, or bet calculators, are typically used to calculate how much your bet will win. By inputting how much you want to bet (your stake), and the odds given, our sports betting calculator will generate how much your bet will win — AKA a payout calculator. The betting odds calculator will also calculate the implied odds of your bet, so you can understand whether you’re getting a value bet or not. You can also use a betting odds calculator to:
- Convert American odds to Decimal
- Decimal odds to Fractional
- Fractional odds to Amercian
- Or convert back the other way for all of the above!
Why Should You Convert Odds?
One of the most important aspects of betting is finding the best odds possible. After all, placing good value bets depends on finding odds that net you a worthwhile payout. Usually, this is done by fining odds that aren’t worth what they should be given the true implied probability. You can find the implied probability with a betting odds calculator, or a probability calculator and compare it against what you think the probability actually is. In other words, it’s not just about predicting which team will win; you also need to get paid well for the risk you’re taking on. That’s why you need to know how to use a betting odds calculator.
Typically, odds calculators require you to input one or multiple sets of odds, along with a wager amount, to determine the value of wagers. A variety of calculators exist, depending on the type of wager or the system you’re attempting to utilize when determining the value of your bets. If you want to find more betting related resources, our betting guide is the right place for you.
How To Find Value Using Bet Calculators
If you want to make money from betting in the long run, you need to be able to find and exploit mistakes by sportsbooks. Essentially, you want to do a bookmaker’s job better than they can. A value bet occurs when the odds a sportsbook gives to an event, which have implied odds calculated from them, are lower or higher than they should be. When we say “should be” we’re referring to actual probability — or the probability you can calculate yourself using your own betting model.
A good way to find out the value of a bookmaker’s mistake is through arbitrage betting. If two bookmakers have differing opinions on the favourite for a specific event, you can bet on both outcomes and gain some profit. That said, sportsbooks are usually pretty quick to detect discrepancies between their book and another’s, so you have to keep your eye on the opening line if you want to find an arbitrage bet.
Implied Probability & Actual Probability
A bookmaker will thoroughly study all the parameters that can affect the outcome of a certain event. These include player fitness, standings, team or player form, and weather conditions, among others. Afterwards, they will input these parameters into a predictive model with several types of betting odds calculators that will output a set of odds for each outcome. These odds are what we call “implied odds”, and they are essentially your target to beat.
You want to study more rigorously and consider variables the bookmaker may not be aware of. You also need to develop a better predictive model and come up with better “true odds” according to your research and your own odds calculator. Once you’ve calculated the “true odds” for a certain outcome, you need to look up the “implied odds” for it on different sportsbooks and calculate which one has a more favourable return.
For example, let’s assume that you’ve thoroughly studied an upcoming soccer match using different sports betting calculators and determined that the favourite has a 60% chance of winning. This means that the true odds of this outcome are approximately -150. If you look around different sportsbooks and find the same outcome at -135 or -140, you should place a bet on it. While the difference might seem small, it can be very profitable in the long run.
More Types Of Bet Calculators
Most sportsbooks will generally have a built-in betting calculator to allow you to see how much your payout will be before you place your bet. This is particularly useful if your betting strategy revolves around variable bet sizes rather than a fixed amount. Nevertheless, some specific bet types or betting strategies require more advanced calculations to determine how much your profit will be. In these cases, some particular sports betting calculators will do all the math for you to maximize your earnings.
Moneyline Odds Calculator
Moneyline betting is a straightforward yet popular form of sports betting. Essentially, it involves picking the outright winner of a game or match, without any point spreads or handicaps. However, predicting the outcome of a game can be tricky, even for seasoned bettors. To help you, moneyline betting odds calculators are useful tools for calculating potential payouts for moneyline bets. Simply input the moneyline odds for each team or player and the desired wager amount, and the betting calculator will do the rest. With this information from the odds calculator, you can determine the potential payout and whether the wager is worth the risk.
Using a moneyline betting calculator can help you make more informed betting decisions. Not only can you assess the risk of a particular wager, but you can also compare potential payouts for different bets and adjust your strategy accordingly. For instance, if you have a limited budget for sports betting, you can use an implied odds calculator to determine the most profitable bets based on the available funds. Money line betting odds calculators are also valuable for hedging bets. If you’ve placed a wager on one team or player, you can use a moneyline betting calculator to determine how much you need to bet on the other team or player to minimize your losses.
Arbitrage Betting Calculator
Arbitrage betting involves wagering on every potential outcome of an event at odds which guarantee a payout. These types of opportunities don’t arise often, but every now and then you might come across a scenario where hedging your bets guarantees a win. The odds calculator is extremely handy in these situations.
While you’re always guaranteed to make some profit from arbitrage betting, you’ll need an arbitrage bet calculator to maximize your earnings. An arbitrage calculator will give you the amount of money you need to bet on each outcome to win a certain payout. This is very important for serious bettors who want to maximize their profits from a bookmaker’s mistake. However, keep in mind that some sportsbooks are not very friendly toward arbitrage bettors, and may reserve the right to limit or outright ban your account.
Kelly Betting Calculator
Advanced and professional bettors know that you need proper bankroll management to make a consistent profit through sports betting. If you just bet random amounts of money based on your “feeling”, you’ll either miss out on a lot of value or end up ruining your bankroll. That’s why most serious bettors rely on the Kelly Criterion, or Kelly Betting Calculator, to determine their bet size as a percentage of their bankroll. Since the Kelly Criterion formula can be complicated, people rely on the Kelly bet calculator to do their odds conversions and determine their expected growth and profit.
John Larry Kelly Jr. was a scientist who figured out a way to determine an optimal betting amount according to bankroll and the type of odds you face when sports betting. Since pros tend to work with a long-term strategy, a Kelly Odds Calculator helps to determine a standard betting amount which performs well. This way, if you tend to win half of your bets at odds around +120, the Kelly Bet Calculator may suggest a specific percentage of your roll to wager for each event.
Parlay Betting Calculator
When you’re stringing together a multiple bet parlay, you can enter the odds of each individual bet and the stake wagered into a parlay betting calculator to determine the total payout value of the parlay. Most sportsbooks will provide you with the total amount of money you’ll win from a parlay bet anyways. That said, a proper odds payout calculator for parlays will allow you to make swift changes and determine the amount you need to bet to gain a certain profit.
This type of parlay calculator is useful when determining the value of different parlay possibilities, while double-checking the value provided by your sportsbook. If your sportsbooks offer a significantly lower payout than the amount you should get based on the odds, you might want to switch to a different sportsbook. Other than being fun and exciting, parlays are also a great way to bet on multiple outcomes with low odds that you wouldn’t want to place a single bet on. Just ensure not to include extremely low odds, as they don’t add significant value, but they risk ruining your parlay.
Poisson Odds Calculator
One of the more complex type of odds calculations, Poisson probabilities are most often used in sports betting to approximate the strength of offensive and defensive capabilities of a team, compared to the rest of the competition. Attack strength for an NHL team would be calculated by measuring the average goal production for the entire league and comparing the results with an individual team. Defensive strength is calculated by comparing the average number of goals allowed league-wide with a single team. These numbers then inform probability distributions, giving you an idea of the chances that a team will score or allow a specific number of goals. Poisson distributions may be utilized to determine percentages for outright winners, spreads, and over/under bets.
A Poisson betting calculator is also excellent for finding value in team or player prop bets. Using Poisson probabilities and knowing the historical average of a specific prop can help you find the chance of that outcome being an over or an under. For instance, let’s assume you want to place a bet on Steph Curry’s made 3pt shots. You know his season average of 4.3 3pt shots per game, and the moneyline is at 4.5 3pt shots. The Poisson calculator will tell you the exact probability for the over/under and what money line odds you should look for to get value.
Round Robin Bet Calculator
A round robin bet calculator informs you of the potential profit and peril of creating a series of multi-team parlay bets. A three-team round robin bet would consist of three two-team parlays. If one of the three parlays wins, your initial stake is returned, while if two or more parlays win, the profit of your wager jumps. While round robin bets can feel complicated, they are a very useful type of bet if you want to include multiple games in your slip with lower risk.
Three team round robins tend to be easier to manage than longer round robin bets due to all the different permutations when dealing with four or more wagers,. Essentially, the more teams, the more a round robin payout calculator becomes vital. That’s where a round robin betting calculator comes in. A round robin bet calculator is an essential tool for anyone who enjoys round robin bets, as it provides you with the total amount you need to wager and your potential returns in each scenario.
Streak Betting Calculator
A streak betting calculator provides a rough approximation of the chances of winning a series of bets given a specific set of odds. Nobody enjoys losing streaks, but they are a natural part of long-term sports betting. Whether you’re a novice bettor or a seasoned veteran, proper bankroll management is essential to getting through a long and tough betting season. Ideally, you should have a large bankroll and wager 1-2% of it on each bet to avoid ruining it during big losing streaks.
A streak betting calculator will give you the chance of a losing streak throughout a set number of games. Let’s assume you want to place 100 bets in an NBA season. Your bets will all have about a 60% chance to win (-150 odds) and a 40% chance to lose. A betting calculator for loss streaks will determine the total probability of going on a 10-game losing streak. Naturally, you can change the parameters, like bumping the chance to lose to 45% or determining the probability of a 5-game losing streak.
Spread Bet Calculator
Against the spread betting, also known as point spread betting, is a hot commodity in the world of sports wagering. This style of betting is all about placing your bets on the difference in scores between two teams. It’s a step above traditional moneyline betting, where all you have to do is pick the winner. With against the spread betting, the margin of victory or defeat is determined your win.
One of the major draws of against the spread betting is its ability to level the playing field for teams that may be unevenly matched in terms of skill or talent. Thanks to the addition of a point spread, bettors have a tougher time predicting the winner, which ups the ante and can lead to some serious payouts. Of course, predicting the outcome of a game against the spread is no easy feat, particularly for rookies. This is where against the spread betting calculators come into play. These spread bet calculators allow you to input the point spread, odds, and the amount you’re willing to wager. Once you’ve punched in that info, the odds calculator will do the math and tell you what kind of payout you can expect based on your predictions. You can even compare payouts with a spread to moneyline odds calculator.
By utilizing a point spread calculator, you can make more educated decisions when placing your bets. You’ll have a clearer understanding of the potential payout and can decide whether the risk is worth it. Additionally, these betting spread odds calculators allow you to compare potential payouts for different bets, making it easier to choose the ones with the best value. All in all, against the spread betting calculators and spread/moneyline converters are a godsend for anyone interested in sports betting. They offer a detailed look at potential payouts and can guide you towards more informed, profitable wagers.
Sports Odds Calculator FAQ
In general, odds are just another way to present a certain outcome’s probability. To calculate betting odds, you need an outcome’s chance (implied odds) and vice versa. You can manually calculate the probability of a bet winning by converting American or Fractional odds to Decimal odds, and then dividing 100 by that number. However, you should ideally use a betting odds calculator to avoid making any mistakes.
American odds revolve around how much money you can make if you bet $100. A positive moneyline of +110 means that if you wager $100 on a single bet, you will make a profit of $110, and your total odds payout will be $210.
For negative moneylines, things are a bit more complex but still follow the same basic logic. A moneyline of -110 indicates that you need to wager $110 to make a profit of $100. So, if you bet $100 on a -110 odds, you can expect to win around $90 if your bet succeeds.
If you can’t be bothered with calculations, just use an odd payout calculator to determine your exact profit.
Odds in betting are different formats to present the chance of a specific event occurring. Betting odds can be presented in moneyline, fractional, or decimal odds. American money line odds will either tell you how much you would win for every $100 wagered or how much you need to bet to win $100.
There are plenty of betting odds converters online that can help you switch between the different betting odds formats. The best ones even support conversion to probability percentages.
An odds payout calculator will show you your profit based on which odds format you use. In general, you want to convert your odds to a decimal format and multiply the decimal odds by the amount of money you wagered.
For American odds of +150, you’ll need to divide 150 by 100 and add 1 to the result. This gives you a decimal odds of 2.50. Then if you wagered $100, you multiply 2.50 by 100, which results in a total payout of $250 or a profit of $150.
Betting returns can either be presented as your profit or your total payout if you win a bet. Different odds formats will calculate your profit (American money line odds) or your total payout amount (decimal odds), which includes your wager.
To calculate your betting returns, just input your stake and the odds of your bet into an odds payout calculator. It will give you all the necessary information regarding how much money you’ll make.
To determine your chances of winning a bet, you need to calculate its implied probability. To do this, you’ll need to know the betting odds of your sportsbook and convert them into decimal odds. Then you’ll need to divide 100 by the resulting number to define the probability of winning the bet.
Another faster option is to use a bet calculator to do your conversion, as well as figure out the exact amount of money you’ll win.
Bookmakers need to consider several parameters to provide odds for a specific event. They usually rely on statistics, advanced formulas, and their wealth of experience to determine a probability for each outcome of the game. Afterwards, they do the odds conversion for the different formats and pick the odds for the game.
English odds, also known as fractional odds, are a traditional way of representing betting odds in the UK and Ireland. They are expressed as a fraction, such as 3/1 or 7/2. The first number represents the amount you can win, and the second number represents the amount you need to bet. For example, if the odds are 3/1, and you bet $10, you can win $30 (your original bet plus $20 profit). If the odds are 7/2, and you bet $10, you can win $35 (your original bet plus $25 profit). The higher the first number in the fraction, the less likely the outcome is expected to happen.
To calculate a sports bet payout, you first need to understand the odds of the bet. The odds represent the likelihood of the outcome happening and are expressed as a ratio or a fraction. Different types of odds include American, decimal, and fractional. Once you understand the odds, you can use a simple formula to calculate your potential payout. For example, with fractional odds of 5/2, you would multiply your bet amount by 5 and then divide by 2 to get your potential payout. So, a $10 bet would result in a potential payout of $25 (10 x 5 / 2). It’s important to remember that this is only a potential payout and doesn’t guarantee a win.
Calculating each-way odds is a bit more complicated than calculating regular odds. Each-way betting is common in horse racing and involves placing two equal bets, one on the horse to win the race and another on the horse to place (usually to finish in the top two, three or four, depending on the number of runners in the race). To calculate the each-way odds, you first need to understand the place terms, which are determined by the bookmaker. Then, you can use an each-way calculator to determine the potential payout. The calculator will take into account the place terms, the odds of the horse to win and to place, and your stake amount to calculate your potential payout. The each-way payout is typically a fraction of the win payout.
Bookmakers use a variety of factors to calculate odds, including past performance, current form, and other relevant factors that may affect the outcome of the event. They will also take into account the amount of money being bet on each potential outcome. Bookmakers aim to set odds that will attract an equal amount of money on both sides of the bet, so they can make a profit regardless of the outcome.
An accumulator bet, also known as a parlay or multi-bet, is a type of bet that combines multiple selections into one wager. In order to win an accumulator bet, all selections in the bet must be correct. If one selection loses, the entire bet loses. The odds of each selection are multiplied together to determine the overall odds of the accumulator bet. The potential payout for an accumulator bet is much higher than a single bet, as the odds are multiplied together. However, the risk is also higher as the bettor must correctly predict multiple outcomes. Each sportsbook may have their own rules regarding maximum and minimum selections allowed in an accumulator bet.
Football betting odds are typically represented as decimals, fractions, or American odds. Decimal odds show the total payout, including the initial stake, while fractional odds show the profit relative to the stake. American odds show the amount of profit on a $100 bet. To calculate the potential payout from a football bet, multiply the stake by the odds. For example, if the odds are 1.5 and the stake is $10, the potential payout is $15 ($10 x 1.5). To calculate the profit, subtract the stake from the potential payout. In this case, the profit would be $5 ($15 – $10). Different sportsbooks may use different odds formats, so it’s important to understand the odds format being used.
