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Calculate how much money you stand to win per wager with our betting odds calculator. It definitely comes in handy when placing bets on Monday Night Football!
A bet calculator is an absolute necessity in the arsenal of any serious bettor. The sports betting calculator allows users to simplify some of the more complicated math and get quick and precise calculations of odds and potential winnings.Jump to
To learn more about how to use a betting calculator and the different odds formats available for sports betting read below.
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How To Use A Betting Odds Calculator
A betting odds calculator takes the odds and stake of a particular bet and figures out the payout automatically. Thus, in order to understand how to use a betting odds calculator, we must first understand the different types of betting odds.
There are three popular methods of displaying odds at sports betting sites: American, Decimal and Fractional. Each type of odds requires different calculating methods when using a sports betting odds calculator.
You can also have a look at our odds converter!
American odds, also known as money line odds, indicate return relative to a hundred unit base figure. So whenever there is a minus (-) figure you lay that amount to win a hundred dollars, and where there is a plus (+) you win that amount for every hundred dollars you bet.
Let’s take a look at an example. If the New York Yankees are +275 to win an upcoming game against the Boston Red Sox, perhaps in the World Series, this means that for every $100 you bet on the Yankees you will receive a profit of $275. Basically, American odds give bettors the amount of money they would profit from a wager of $100.
To calculate the profits for (+) American odds wagers you may use the formula:
Profit = (Stake * Odds) / 100
Taking the example above, if we added a stake of $50 we can calculate the potential winnings from the bet using an odds calculator:
Profit = (50 * 275)/100
Profit = 13750/100
Profit = $137.50
When calculating American odds for minus odds wagers, you are calculating the odds for favorites, which returns less than even money in profits. So if we took the same example and gave the Boston Red Sox odds of -140, it would represent the fact you would have to wager $140 to make a profit of $100. To calculate the profit for an American minus odds you may use the formula:
Profit = (Stake / Odds) * 100
So if the Red Sox were getting -140 odds and you were going to wager $50 on them the betting calculator calculation would go like this:
Profit = (50 / 140) * 100
Profit = (0.357) * 100
Profit = $35.7
When using an American odds bet calculator, you will only be required to know your stake and odds, the calculator will do the rest.
Decimal odds are very popular across the globe with most online sportsbooks using decimal odds as their default. With decimal odds, you get the sum of the amount you would get in return for a $1 bet.
For example, let’s take a basketball game between the Los Angeles Lakers and Boston Celtics. If the Lakers were getting 2.50 odds for the game, it would mean that for every $1 you bet on the team you would get $2.50. To break it down, you would receive your stake back as $1 and another $1.50 in profits.
Calculating the potential earnings for decimal odds is very simple. You simply multiply your stake by the odds and then subtract your stake.
Profit = (Stake * Odds) – Stake
Let’s take a look at the above example with a stake of $50.
Profit = (50 * 2.50) – 50
Profit = (125) – 50
Profit = $75
While the calculations for decimal odds may seem very easy when the profits for accumulator bets are being calculated it’s best to use a betting odds calculator to ensure your accuracy. An odds calculator will automatically work out the odds of all the wagers combined and give potential winnings for parlay bets in seconds.
Fractional odds are popular in the European region, especially amongst horse racing bettors in the UK and sometimes for Daytona 500 betting. With fractional odds, you are given the profit in proportion to the stake. So for example, if we had a matchup between the Dallas Cowboys and Washington Redskins where the Cowboys were getting 3/2 odds, it would mean that for every $2 you bet, you would get $3 in profit.
The way a betting odds calculator calculates the profits for a fractional odds bet is by dividing your stake by the denominator and then multiply the stake by the numerator:
Profit = (Stake / denominator) * numerator
Taking the example mentioned above, if we add a stake of $100 to the Cowboys who are getting 3/2 odds, then the bet calculator calculation would go like this:
Profit = (100 / 2) * 3
Profit = (50) * 3
Profit = $150