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Using an odds calculator may seem excessive to some beginners, but in reality, it’s commonplace for many online sportsbook users. A betting odds calculator allows users to input their stake & odds format they desire (American, Decimal, or Fractional) and quickly calculates the potential return of bets made.

A bet calculator is ideal for providing an accurate idea of the bettors’ potential winnings for all types of sports wagers, including standard single bets, using the three different odd types. The calculator will show bettors how much they can win based on the odds and total sum wagered.

It’s a great tool to use, as it gives bettors an exact amount they can win before even placing a bet. In this article, we will delve deep into how to use a betting calculator and show bettors how to get all the data they need to make the best value wagers today!

What is a Betting Odds Calculator?

Using a sports betting calculator is a basic betting procedure, with bettors of all abilities using them these days. There are some basic steps bettors should take if they’re going to start using an odds payout calculator, which look like this:

– Enter the odds using one of the various formats; American Odds (-400), Decimal Odds (1.25), Fractional Odds (1/4), Implied Probability (80%). Bettors will often have to go with whatever odds format is on offer from their sportsbooks provider. It’s commonplace for providers to offer all three, but it really depends where you are in the world.

– Enter the stake. The calculator will handle the rest for you. It will inform the bettor of how much they’ll win, including details of the total potential payout. Normally these calculators are set to a value of $100, but this figure can, of course, be changed.

There are three methods of defining the odds that are frequent among bookmakers. Implied probability is also used when evaluating a bet or checking the likelihood of the estimated outcome.

What are American Odds?

American odds are the default odds used by sportsbooks based in the states. The odds bettors will see use a ‘-’ sign to represent the favorite and a ‘+’ sign to show the underdog/s. All bets are based on winning $100.

An example of this would be if a bettor puts $100 on the Mavs to win the NBA Finals. If the odds are -140 for the Mavs against the Suns, that means Dallas is the slight favorite. A bettor would need to stake $140 to win $100 on the packers. If you look at underdog odds, the ‘+’ sign represents the profit you can make for every $100 wagered. Just to say, if you’re unfamiliar with any of the betting language being used here, take a look at our complete glossary of betting terms.

 

What are Decimal Odds?

Outside of the U.S., the vast majority of online sportsbooks and land-based betting facilities use Decimal odds. Decimal odds show the amount that a bettor can win for every $1 staked. The number indicates the total return for the better, not just the profit as is seen in the other two odd formats.

Here’s an example: The Stars are 1.714 in decimal odds (-140 in American). For every $1 wagered, the bettor profits 71.4 cents, plus the original stake of $1. The Oilers have odds of 2.2 in decimal odds (+120 in American), which means every $1 bet would profit $1.20 plus the original $1 stake.

What are Fractional Odds?

Finally, we come to Fractional odds, which are typically used in the UK and Ireland. It’s uncommon for bettors to use fractional odds for sports betting, other than in racebooks, where it’s frequently used, because making conversions in your head is tough.

As we mentioned, the calculation is a little more difficult. Multiply your bet by the top number, then divide the figure by the bottom number. As such, a $10 bet at 5/2 odds is (10×5) / 2, which pays out at $25. A $10 bet at ⅖ odds is (10×2), which pays out $4.

Conversion Table for common Odds

We have put together a summary of the conversations in this table:

UK EU US Pct. Bet To Win Payout
1/9 1.11 -900 90.0% $100 11.11 111.11
1/5 1.20 -500 83.3% $100 20.00 120.00
2/5 1.40 -250 71.4% $100 40.00 140.00
3/5 1.60 -167 62.5% $100 60.00 160.00
4/5 1.80 -125 55.6% $100 80.00 180.00
1/1 2.00 +100 50.0% $100 100.00 200.00
6/5 2.20 +120 45.5% $100 120.00 220.00
7/5 2.40 +140 41.7% $100 140.00 240.00
8/5 2.60 +160 38.5% $100 160.00 260.00
9/5 2.80 +180 35.7% $100 180.00 280.00
2/1 3.00 +200 33.3% $100 200.00 300.00
5/2 3.50 +250 28.6% $100 250.00 350.00
3/1 4.00 +300 25.0% $100 300.00 400.00
7/2 4.50 +350 22.2% $100 350.00 450.00
4/1 5.00 +400 20.0% $100 400.00 500.00
9/2 5.50 +450 18.2% $100 450.00 550.00
5/1 6.00 +500 16.7% $100 500.00 600.00
6/1 7.00 +600 14.3% $100 600.00 700.00
7/1 8.00 +700 12.5% $100 700.00 800.00
8/1 9.00 +800 11.1% $100 800.00 900.00
9/1 10.00 +900 10.0% $100 900.00 1000.00
10/1 11.00 +1000 9.1% $100 1000.00 1100.00
11/1 12.00 +1100 8.3% $100 1100.00 1200.00
12/1 13.00 +1200 7.7% $100 1200.00 1300.00
13/1 14.00 +1300 7.1% $100 1300.00 1400.00
14/1 15.00 +1400 6.7% $100 1400.00 1500.00
15/1 16.00 +1500 6.3% $100 1500.00 1600.00
16/1 17.00 +1600 5.9% $100 1600.00 1700.00

UK EU US Pct. Bet To Win Payout
17/1 18.00 +1700 5.6% $100 1700.00 1800.00
18/1 19.00 +1800 5.3% $100 1800.00 1900.00
19/1 20.00 +1900 5.0% $100 1900.00 2000.00
20/1 21.00 +2000 4.8% $100 2000.00 2100.00
21/1 22.00 +2100 4.5% $100 2100.00 2200.00
22/1 23.00 +2200 4.3% $100 2200.00 2300.00
23/1 24.00 +2300 4.2% $100 2300.00 2400.00
24/1 25.00 +2400 4.0% $100 2400.00 2500.00
25/1 26.00 +2500 3.8% $100 2500.00 2600.00
26/1 27.00 +2600 3.7% $100 2600.00 2700.00
27/1 28.00 +2700 3.6% $100 2700.00 2800.00
28/1 29.00 +2800 3.4% $100 2800.00 2900.00
29/1 30.00 +2900 3.3% $100 2900.00 3000.00
30/1 31.00 +3000 3.2% $100 3000.00 3100.00
31/1 32.00 +3100 3.1% $100 3100.00 3200.00
32/1 33.00 +3200 3.0% $100 3200.00 3300.00
33/1 34.00 +3300 2.9% $100 3300.00 3400.00
34/1 35.00 +3400 2.9% $100 3400.00 3500.00
35/1 36.00 +3500 2.8% $100 3500.00 3600.00
36/1 37.00 +3600 2.7% $100 3600.00 3700.00
37/1 38.00 +3700 2.6% $100 3700.00 3800.00
38/1 39.00 +3800 2.6% $100 3800.00 3900.00
39/1 40.00 +3900 2.5% $100 3900.00 4000.00
40/1 41.00 +4000 2.4% $100 4000.00 4100.00
41/1 42.00 +4100 2.4% $100 4100.00 4200.00
42/1 43.00 +4200 2.3% $100 4200.00 4300.00
43/1 44.00 +4300 2.3% $100 4300.00 4400.00
44/1 45.00 +4400 2.2% $100 4400.00 4500.00

UK EU US Pct. Bet To Win Payout
45/1 46.00 +4500 2.2% $100 4500.00 4600.00
46/1 47.00 +4600 2.1% $100 4600.00 4700.00
47/1 48.00 +4700 2.1% $100 4700.00 4800.00
48/1 49.00 +4800 2.0% $100 4800.00 4900.00
49/1 50.00 +4900 2.0% $100 4900.00 5000.00
50/1 51.00 +5000 2.0% $100 5000.00 5100.00
51/1 52.00 +5100 1.9% $100 5100.00 5200.00
52/1 53.00 +5200 1.9% $100 5200.00 5300.00
53/1 54.00 +5300 1.9% $100 5300.00 5400.00
54/1 55.00 +5400 1.8% $100 5400.00 5500.00
55/1 56.00 +5500 1.8% $100 5500.00 5600.00
56/1 57.00 +5600 1.8% $100 5600.00 5700.00
57/1 58.00 +5700 1.7% $100 5700.00 5800.00
58/1 59.00 +5800 1.7% $100 5800.00 5900.00
59/1 60.00 +5900 1.7% $100 5900.00 6000.00
60/1 61.00 +6000 1.6% $100 6000.00 6100.00
61/1 62.00 +6100 1.6% $100 6100.00 6200.00
62/1 63.00 +6200 1.6% $100 6200.00 6300.00
63/1 64.00 +6300 1.6% $100 6300.00 6400.00
64/1 65.00 +6400 1.5% $100 6400.00 6500.00
65/1 66.00 +6500 1.5% $100 6500.00 6600.00
66/1 67.00 +6600 1.5% $100 6600.00 6700.00
67/1 68.00 +6700 1.5% $100 6700.00 6800.00
68/1 69.00 +6800 1.4% $100 6800.00 6900.00
69/1 70.00 +6900 1.4% $100 6900.00 7000.00
70/1 71.00 +7000 1.4% $100 7000.00 7100.00
71/1 72.00 +7100 1.4% $100 7100.00 7200.00
72/1 73.00 +7200 1.4% $100 7200.00 7300.00

UK EU US Pct. Bet To Win Payout
73/1 74.00 +7300 1.4% $100 7300.00 7400.00
74/1 75.00 +7400 1.3% $100 7400.00 7500.00
75/1 76.00 +7500 1.3% $100 7500.00 7600.00
76/1 77.00 +7600 1.3% $100 7600.00 7700.00
77/1 78.00 +7700 1.3% $100 7700.00 7800.00
78/1 79.00 +7800 1.3% $100 7800.00 7900.00
79/1 80.00 +7900 1.3% $100 7900.00 8000.00
80/1 81.00 +8000 1.2% $100 8000.00 8100.00
81/1 82.00 +8100 1.2% $100 8100.00 8200.00
82/1 83.00 +8200 1.2% $100 8200.00 8300.00
83/1 84.00 +8300 1.2% $100 8300.00 8400.00
84/1 85.00 +8400 1.2% $100 8400.00 8500.00
85/1 86.00 +8500 1.2% $100 8500.00 8600.00
86/1 87.00 +8600 1.1% $100 8600.00 8700.00
87/1 88.00 +8700 1.1% $100 8700.00 8800.00
88/1 89.00 +8800 1.1% $100 8800.00 8900.00
89/1 90.00 +8900 1.1% $100 8900.00 9000.00
90/1 91.00 +9000 1.1% $100 9000.00 9100.00
91/1 92.00 +9100 1.1% $100 9100.00 9200.00
92/1 93.00 +9200 1.1% $100 9200.00 9300.00
93/1 94.00 +9300 1.1% $100 9300.00 9400.00
94/1 95.00 +9400 1.1% $100 9400.00 9500.00
95/1 96.00 +9500 1.0% $100 9500.00 9600.00
96/1 97.00 +9600 1.0% $100 9600.00 9700.00
97/1 98.00 +9700 1.0% $100 9700.00 9800.00
98/1 99.00 +9800 1.0% $100 9800.00 9900.00
99/1 100.00 +9900 1.0% $100 9900.00 10000.00
100/1 101.00 +10000 1.0% $100 10000.00 10100.00

Implied Odds

Another common thing to see when using an odds payout calculator is an implied odds option. This means, the odds correlate to the probability of a certain team winning, or outcome happening. Using the example from before, a -140 favorite has roughly a 58.3% chance of winning, while a +120 underdog has a 45.4% chance of success.

In each circumstance, you’ll notice the figures total more than 100%. That’s what is known as vigorish (vig, juice), which is the sportsbooks cut. A betting calculator can also assess the value of a bet by calculating the vig.