We want to offer you as much help as possible and make betting as easy as it can be, but also as profitable as you wish it to be. So, we designed this sports betting odds calculator specifically for you to help you easily calculate the payout for your bets.

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What is the importance of betting odds?

The sports betting odds calculator will come in very handy in your bettings. It is important to understand the payout that you are receiving when placing a wager. The implied probability that the outcome will occur is directly linked to the odds offered by a sportsbook. A bet that has a lower implied probability than its true probability is considered a good one.

Sports Betting Odds Calculator: True Odds vs. Implied Odds

It is essential to understand the basics of sports betting before you make a decision to place your bets. These are the following:

• What are implied odds?
• What are the true odds?

Both true and implied odds are crucial in determining whether a bet is of good value. As long as you have the odds for the bet, you can use our odds calculator to determine the implied odds. Implied odds refer to the conversion of sportsbooks’ odds into an implied win probability. Spread betting in football can be offered at -110 for both sides. Both outcomes have a 52.38% win probability. This would give an implied probability that this spread bet will win.

True odds are the odds of a bettor predicting a particular outcome. Let’s take the above bet of 110 for both outcomes in a spread NFL bet. Both outcomes have an implied probability of 52.38%. You would place a bet if the same outcome has an implied probability of 52.38% or more. It seems simple, but how can you determine true odds? True odds are subjective.

There is no “true probability” of a particular outcome. One person can determine true probability using predictive models. This is where handicapping comes in. After handicapping the situation/game, the true probability is how likely you believe a certain bet will win. This is a good choice.

Sports Betting Odds Calculator: What is my payout?

Your potential winnings plus any original wagers will be included in your payout. For example, if you placed $10 on a +150 underdog you will receive $25.

Sports Betting Odds Calculator: What is the best amount?

The bet amount is the amount you are willing to risk on a particular bet. Responsible bettors should understand proper bankroll management.

Sports Betting Odds Calculator: What is implied probability?

Odds are related to the probability of a team actually winning, which is the implied probability. A +140 favorite has a chance of winning by about 58.34%, while a +120 opponent has a chance of winning by 45.45%.    

Did you notice that percentages are higher than 100%? This is because of the Vig which is a cut from a sportsbook for making your bet easier. These formulas can be used to calculate implied probability:

To use negative numbers (favorites), remove the minus sign.

Negative Odds/ (Negative odds + 100) * 100

For positive numbers, (underdogs),

100 / (Positive odds + 100) * 100

Sports Betting Odds Calculator: What are fractional odds

Fractional odds are mainly used in the UK and Ireland. Because fractional odds are hard to convert into return, very few bettors use them for other betting sports than horse racing.

Divide your winnings on fractional chances by the top number (numerator) and then divide it by the bottom (denominator). A $10 bet at 5/2 odds equals (10 * 5)/ 2, which is $25. A $10 wager at 2/5 odds would be (10 * 2)/ 5, which equals $4.

Sports Betting Odds Calculator: What are decimal odds?

Decimal Odds are used by the rest of the world, in part because they’re easier to convert to implied probabilities than American Odds. Decimal odds are the amount that a bettor will win for every $1 wagered. The number represents the total return and not the profit as in American or fractional odds.

As a -140 favorite in American betting, the Packers would be 1.714 in decimal odds. For every $1 risked, you’re profiting 71.4 cents, plus your $1 back.

As a +120 underdog, the Vikings would be 2.2 in decimal odds. This means that for every $1 you risk, you will profit $1.20 and get your $1 back.

Sports Betting Odds Calculator: What are American odds?

American Odds represent the default odds at American betting sites. These odds assume that you win $100 on a given bet.

Betting on a Favorite: The odds of favorites will have a minus (-), sign and represent the amount you must risk in order to win $100.

If you bet on the Packers at -140 to the Vikings, Green Bay will be a slight favorite. To win $100 on the Packers, you must risk $140. You will make $100 if they win and you’ll get your original $140 back.

Betting an Underdog: The odds of betting an underdog will have a (+) sign in front. These are the winnings you can make for every $100 risked.

Sports Betting Odds Calculator: Final Thoughts

We strongly recommend using this sports betting odds calculator in order to maximize your profits and payouts. However, remember what we always say: bet with your head and not over it!