Odds Betting Calculator
An odds betting calculator is an essential tool for providing a convenient and efficient way for bettors to calculate potential payouts, implied probabilities, and compare odds across different betting formats.
Other betting Calculators
Understanding Betting Odds
American odds
American odds are presented in hundreds and thousands and are defined by the positive (+) or negative (-) value assigned.
- A negative value indicates that the outcome is more likely to happen and you have to bet more money to win less money.
- A positive value indicates that the outcome is less likely to happen and you can bet less money to win more money.
For example, if the odds on a team to win a game are -200, you would have to bet $200 to win $100. If the odds on a team to win a game are +200, you would bet $100 to win $200.
Another Example
- Bet amount: $100
- Odds: -200
Winnings: $100 / -200 x 100 = $50
Decimal Odds
- Commonly used in Europe and other countries.
- Displayed as a simple number you multiply by your bet to calculate profit and total return.
- For example, a $100 bet at 3.00 odds returns $300 ($100 x 3.00): $200 profit and the original $100 wager.
Another Example
- Bet amount: $100
- Odds: 2.00
Winnings: $100 x 2.00 = $200
Fractional odds
Fractional odds are most common in horse racing and futures markets.
To calculate your winnings with fractional odds, divide the larger number by the smaller number and multiply the result by your bet amount. For example, if the odds on a horse to win a race are 3/1, you would divide 3 by 1 (which is 3) and then multiply the result by your bet amount. So, if you bet $100 on a horse with odds of 3/1, you would win $300 if your bet wins.
Another Example
- Bet amount: $100
- Odds: 2/1
Winnings: 2 / 1 x $100 = $200
Implied Probability
- The Oddsbacking odds calculator tool converts odds into different formats and calculates the implied probability of winning.
- Our powerful tool can convert odds in any formats. For example Decimal to American etc. These formats allow bettors to understand potential payouts and make informed wagering decisions.
FAQS
Odds of +200 mean that if you bet $20, you would profit $40 on a winning bet, for a total return of $50.
If you bet $10 on odds of -110 and wins, you would profit $9.
Using our odds calculator will show you the implied probability of winning your bet outright in an easy to read percentage. Try it now
For positive American odds: (American odds / 100) + 1 = Decimal odds.
For negative American odds: (100 / -American odds) + 1 = Decimal odds.
You can always use our odds calculator is you find it confusing
For decimal odds ≥ 2.00: (Decimal odds – 1) * 100 = American odds.
For decimal odds between 1.01 and 1.99: -100 / (Decimal odds – 1) = American odds
You can always use our odds calculator is you find it confusing
Recent Posts
Jenkins becomes Grizzlies’ winningest coach
PG injures knee in latest setback for Sixers’ big 3
