Not sure how your wager will turn out? Use our betting odds calculator to see what a bet can payout. The odds calculator is the essential wagering tool. Easily figure out the risk versus reward of your wagers. Give it a try!
The money you get back if you win
The profit you make if you win
How to Use the Betting Odds Calculator
First time placing a bet? Our betting odds calculator can help! Of course, you need to know how it works first. Luckily, it’s super simple.
Basically, as you might imagine, this tool calculates betting odds. First, enter the amount you want to bet. Conversely, you could enter the odds on a certain matchup that you are seeing from legal PA sportsbooks. Either way, fill out the wagering amount and the odds. Then, the calculator will automatically show you what you can win. Plus, our betting odds calculator displays both the total return on your wager and the profit you get.
Granted, there are a few types of betting odds out there. This means you need to have a reasonable grasp of what odds are and how they work. Below, we run through the different types of odds.
American Odds (Moneyline)
Generally speaking, American odds are perhaps better known as moneyline odds. With these odds, your financial return relates to one of two things: negative (-) and positive (+) odds.
So, negative odds – for example, -125 – mean you need wager $125 to win $100. Conversely, positive odds – let’s say +125 – mean you have to bet $100 to win $125. Simply put, positive odds show you what you win for every hundred bucks you wager, and negative odds show you how much to bet to get $100.
Let’s look at a more concrete example.
Say the Patriots are at +200 to beat the Falcons for Monday Night Football. This means for every $100 you bet, you win $200. Undeniably, American odds are the most straightforward.
American Odds Equation
Calculate your potential profits for (+) American odds bets with the following equation.
Profit = (Stake x Odds)/100
So, we’ll use the above equation and our previous example. If we bet a $100 stake, calculate what you will win from your wager:
Profit = ($100 x +200)/100
Now, how do we calculate minus (-) odds for American odds bets? Basically, we calculate the odds for favorites. Again, negative odds show you how much to bet to win $100. So, now say the Patriots have -125 odds. This means that you have to bet $125 to win $100.
Profit = (Stake/Odds) x 100
So, if you wager $100 on the Pats with -125 odds:
Profit = ($100/150) x 100
= .66666667 x 100
Remember, you need to know the odds for the bet you want to place, as well as how much you’re betting. Always bet with your head, not over it. It’s wise to pick an upper limit and stick to it. Don’t bet more than you can stand to lose.
Need help converting odds from other formats? Try our odds converter app.
Outside of the US, decimal odds are a popular way of displaying odds. Online sportsbooks like SugarHouse Sportsbook often offer decimal odds as an option. Decimal odds give you how much money you win if you bet just a dollar.
Let’s take a similar example to the one above. Rivers Sportsbook is offering 1.20 odds on the Pats to beat the Falcons. This means that for every dollar you bet, you get your stake back plus 20 cents. Now, we support responsible betting, but let’s assume you’re wagering more than $1.
If you bet $100, you get $120: your $100 stake + $20 profit.
Below, the calculation is similar to, but not the same as, the American odds equation.
Profit = (Stake x Odds) – Stake
So, using $100 as the stake and the example above, that would look like:
Profit = (100 x 1.2) – 100
= (120) – 100
That’s all there is to it. Not so tough, right?
Odds represented as fractions are much more common in European sportsbooks. That said, you may be the most familiar with odds in these terms. Ever said the chances of something was 50/50? That’s fractional odds.
These odds are most used for betting on horse racing in the UK. They represent the proportion you win based on your stake. So, let’s visit the Pats-Falcons game one more time.
If the Patriots have 5/3 odds to win, that means you get $5 for every $3 you bet.
To calculate fractional odds yourself, use the below equation.
Profit = (Stake/Denominator) x Numerator
So, with the above example and a $50 bet:
Profit = (50/3) x 5
= (16.666667) x 5
We hope this guide helps you bet smarter. Again, always bet responsibly and never more than you can spare. Sports betting should be fun entertainment and improve your enjoyment of a game. Visit anytime to easily check your odds. The betting odds calculator is optimized for mobile so you can check on the go.