The Odds Calculator
Let’s review how to a betting odds calculator. In this guide, we’ll go over using the calculator, understanding the odds, and the best betting sites for your bets.
Calculator
How to Use Odds Calculator?
There are a lot of fields in the odds calculator that may seem intimidating at first. Here’s a quick rundown of what each field means:
- Bet Amount ($): This is where you enter the size of your bet. While the display is in dollars, you can think of it as any currency or unit.
- To Win ($): Your winnings show up in this field. This is the overall profit of your bet, which is the amount of money you will earn minus your original wager.
- Payouts ($): The bet payout calculator displays the total amount of money you’ll have after your wager wins. This includes both the original bet amount and your winnings.
- American Odds: Also known as US or moneyline odds, American odds are based on a $100 wager and display as either positive (+) or negative (-) numbers. Positive numbers show how much profit you would make on a $100 bet, while negative numbers show how much you would need to bet to make a $100 profit.
- Decimal Odds: As the name suggests, decimal numbers represent decimal odds. Commonly known as European odds, decimal odds represent the total payout for each bet. For example, odds of 2.50 mean you get $250 for every $100 wager. This format is popular across Europe and around the world.
- Fractional Odds: Fractional odds display the profit relative to the wager. For example, odds of 5/1 mean you win $500 for every $100 bet. Fractional odds are typically used in the UK.
- Implied Odds: This field is useful for converting odds into probability. The implied odds calculator takes odds and displays them as a percentage. For example, odds of +150 imply that your bet has a 40% chance of success.
Understand the Math Behind the Betting Calculator
In this section, we explain the formulas behind our sports betting odds calculator. While easy to use, the calculator uses multiple computation methods to provide the correct outcomes.
Our calculator is a betting odds converter, meaning it can convert American odds to decimal and fractional odds. It also uses formulas to calculate implied probabilities and payouts. Let’s start with the odds conversions before looking at implied probability.
Converting American Odds
American to Decimal
For Positive Odds:
- FORMULA: 1 + (AMERICAN ODDS / 100)
- EXAMPLE: +250 | 1 + (250 / 100) = 3.50
For Negative Odds:
- FORMULA: 1 – (100 / AMERICAN ODDS)
- EXAMPLE: -160 | 1 – (100 / -160) = 1.63
American to Fractional
For Positive Odds:
- FORMULA: AMERICAN ODDS / 100
- EXAMPLE: +400 | 400 / 100 = 4/1
For Negative Odds:
- FORMULA: -100 / AMERICAN ODDS
- EXAMPLE: -200 | -100 / -200 = 1/2
Converting Decimal Odds
Decimal to Fractional
FORMULA: DECIMAL ODDS / 1 – 1
EXAMPLE: 4.00 | 4/1 – 1 = 3/1
Decimal to American
For Positive Odds:
- FORMULA: (DECIMAL ODDS – 1) X 100
- EXAMPLE: 4.50 | (4.50 – 1) X 100 = 350
For Negative Odds:
- FORMULA: -100 / (DECIMAL ODDS – 1)
- EXAMPLE: 1.25 | -100 / (1.25 – 1) = -400
Converting Fractional Odds
Fractional to Decimal
FORMULA: FRACTIONAL ODDS + 1
EXAMPLE: 5/4 | 5/4 + 1 = 2.25
Decimal to American
For Positive Odds:
- FORMULA: (DECIMAL ODDS – 1) X 100
- EXAMPLE: 4.50 | (4.50 – 1) X 100 = 350
For Negative Odds:
- FORMULA: -100 / (DECIMAL ODDS – 1)
- EXAMPLE: 1.25 | -100 / (1.25 – 1) = -400
Converting Fractional Odds
Fractional to Decimal
FORMULA: FRACTIONAL ODDS + 1
EXAMPLE: 5/4 | 5/4 + 1 = 2.25
Fractional to American
For Positive Odds:
- FORMULA: FRACTIONAL ODDS X 100
- EXAMPLE: 6/1 | 6/1 × 100 = 600
For Negative Odds:
- FORMULA: -100 / FRACTIONAL ODDS
- EXAMPLE: 1/3 | -100 / 1/3 = -300
Converting Odds to Implied Probability
In addition to converting odds between formats, our sports betting calculator can convert odds to probability. The implied odds calculator uses the following formulas to turn odds into a percentage:
For Positive Odds:
- FORMULA: 100 / (AMERICAN ODDS + 100) X 100 = PERCENTAGE
For Negative Odds:
- FORMULA: AMERICAN ODDS / (AMERICAN ODDS + 100) X 100 = PERCENTAGE
When converting negative American odds to implied probability, simply remove the negative symbol from before the odds to display the true percentage.
More on Betting Odds
Let’s face it—odds are the most important aspect of sports betting. They determine potential payouts and indicate the probability of an event, helping bettors make decisions on their wagers.
If you are keen to learn more about this topic, our betting odds guide has more info. We explain how odds work, how to read odds, the different odds formats, and more.
All our top-rated online sports betting sites deliver competitive odds across various markets, leagues, and events. Better still, they offer generous bonuses and promotions, reliable banking options, and first-rate customer service.
Final Tips for Using Odds Calculator
Using a betting odds calculator is straightforward and simplifies the betting process. Enter your bet amount in dollars or any currency. The “To Win” field shows your profit, while “Payouts” displays your total return, including your original bet. American odds, expressed as positive or negative numbers, indicate profit on a $100 wager or the bet needed for a $100 profit. Decimal odds, popular globally, represent the total payout, showing total returns for each bet amount.
