Betting Odds Calculator and Converter for Sports Betting

Yes, the power ratings of old still serve an extremely valuable purpose in the process, but there’s far more to it. Understanding bettor behavior, mathematically managing risk, and determining the public’s reaction to specific lines all play equally large parts in the parimatch creation of odds. Computers can incorporate more data than any human ever could, and oddsmakers use this to their advantage. Sports betting odds are engineered to attract equal action on both sides of a betting line. In a perfect world, a sportsbook receives equal betting volume on both sides of a wager then, win or lose, they’ll make 5-10% on the juice (or ‘vig’).

How to Use the Betting Odds Calculator

Our free parlay calculator helps you quickly figure out the potential payout for your bet by allowing you to input the odds for each leg of your parlay. Since the odds for the Over and Under are the same, in this case, the same odds of -110, the payouts on any given bet size are also the same. A bet of $110 to win $100 on either the over or the under would pay $210 (the $100 cost of the bet and $100 in winnings). For favorites, the numerator is less than the denominator; for underdogs, the numerator is bigger than the denominator. In either case, to get the payout, multiply the fraction by the amount of your bet and then add the amount of your bet. A bet payout calculator helps you see how much you could win.

Bet Calculator – Calculate Odds as Fractional, Decimal, American

Betting odds are not just random figures; they are the backbone of sports betting, determining potential payouts and reflecting the probability of various outcomes. There is nothing more important to sports betting than understanding betting odds. The name of the game when trying to win money betting on sports is to either find odds that give you a favorable chance to win or value in odds you are confident in. Therefore, understanding how betting odds work is the first step in learning how to bet. 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.

It calculates your win potential based on your bet and odds type. It also changes odds into different formats so you can compare them easily. If you choose an underdog with +500 odds, your $1,000 bet could bring in $6,000. As you will probably be aware from what we have spoken about so far, or from using the free bet calculator tool we have provided, it also acts as an odds converter. It means that a $150 wager would return $525 total if it hits, and that includes your original bet.

Far before the proliferation of computers and when payphones still dominated communication, oddsmakers used to huddle around chalkboards in unkept backrooms of Las Vegas to brainstorm the right numbers.

• For more information please refer to our detailed spread betting guide.
• In simple terms, this means estimating the likelihood or chance that an event will occur.
• The bookies may decide that they want to make £10 for every £100 they take and set their over-round on that market at 110% as per the first example above.
• Far before the proliferation of computers and when payphones still dominated communication, oddsmakers used to huddle around chalkboards in unkept backrooms of Las Vegas to brainstorm the right numbers.
• AceOdds provides the most comprehensive and reliable suite of bet calculators, with over 50,000 bets calculated daily.
• It’s the way bookies try to balance all wagers so that they make a profit, whatever the end result.

OddsMatrix enables you to tweak odds in your favour

Since your actual bet would probably be more than $1, simply multiply the number shown by the amount of your bet. For example, the total payout for a winning bet of $50 at 1.70 odds would be $85. Calculated potential profits show the value of each bet in real money.

They made an easy transition from being expert handicappers to working for the same sportsbooks they once cleaned out. One such example is CG Technology, a Las Vegas-based odds consulting firm. CG Technology primarily provides odds and lines for brick and mortar sportsbooks in Nevada. They list illustrious sportsbooks such as the Palms, the Hard Rock Hotel, and the Cosmopolitan as clients.

Our odds calculator can be a very helpful tool for sports bettors to have handy. It can show in seconds exactly how much any type of winning sports bet will pay based on the odds and amount wagered. Using a calculator bypasses the cumbersome task of performing the necessary calculations manually, which is both time-consuming and susceptible to error. Tools like a bet payout calculator make it easier to see how bets and odds change your returns. They show the value of using an odds calc, especially with big bets and diverse odds.