Betting Odds Calculator
The betting odds calculator allows you to input your stake & odds in American, Decimal, or Fractional formats to quickly calculate the payout for your bets.
What are American Odds?
American Odds are the default odds at American sportsbooks. These odds are based on winning $100 for a given bet.
Betting a Favorite: The odds for favorites will have a minus (-) sign, and represent the money you need to risk to win $100.
So if you're betting on the Packers at -140 against the Vikings, that means Green Bay is a slight favorite. You need to risk $140 to win $100 on the Packers. If they win, you profit $100 and get your original $140 back.
Betting an Underdog: The odds for underdogs will have a plus (+) sign in front, and represent the money you can win for every $100 risked.
What are Decimal Odds?
The rest of the world uses Decimal Odds, in part because it’s easier to convert them to implied probabilities than American Odds. Decimal odds represent the amount a bettor wins for every $1 wagered. And the number represents the total return, not just the profit like American and fractional odds.
The Packers would be 1.714 in decimal odds as a -140 favorite in American odds. For every $1 risked, you’re profiting 71.4 cents, plus your $1 back.
The Vikings would be 2.2 in decimal odds as a +120 underdog, meaning for every $1 risked, you’re profiting $1.20 and getting your $1 back.
What are fractional odds?
Fractional Odds are used primarily in the UK and Ireland. Few bettors use fractional odds for betting sports (other than horse racing), because the conversions to understand return are difficult.
To calculate winnings on fractional odds, multiply your bet by the top number (numerator), then divide the result by the bottom (denominator). So a $10 bet at 5/2 odds is (10 * 5) / 2, which equals $25. A $10 bet at 2/5 odds is (10 * 2) / 5, which is $4.
What is Implied Probability?
Odds correlate to the probability of a team winning, which is the implied probability. A -140 favorite has about a 58.34% chance of winning, while a +120 underdog has a 45.45% chance.
Did you notice those percentages add up to more than 100%? That’s because of the vig, which is a sportsbook’s cut for facilitating your bet. To calculate implied probability, use the following formulas:
For negative numbers (favorites), drop the minus sign, then do:
Negative Odds / (Negative Odds + 100) * 100
For positive numbers (underdogs):
100 / (Positive Odds + 100) * 100
What is the bet amount?
The bet amount is how much you’re risking on a given bet. As a responsible bettor, it is important to understand proper bankroll management.
What is my payout?
Your payout includes your potential winnings, plus whatever you bet originally. So if you bet $10 on a +150 underdog, your payout will show $25.