It can be confusing to calculate your sports betting odds, and while you will normally be betting with just one system, it can sometimes be helpful to convert one or more of the odds into its counterpart. By knowing how to calculate odds with a betting calculator, you'll be able to convert sports betting odds for games such as American football, tennis, ice hockey, and much more, across the three different formats, or convert chance of winning percentages to each of the different formats, hassle-free and in a flash.
There are three major formats in which most online sportsbooks quote odds:
Perhaps you want to place a bet on the Ryder Cup at one site, but want to compare the odds with another site based in another country. Maybe you want to find the best odds on the World Cup soccer or your favorite fantasy sport , but you are finding odds in fractions, decimal and moneyline.
Have you ever wondered about the money to be made off betting on the underdogs? Linemakers know you want to bet on the favorite and don't think that they won't take advantage of this!
If you're interested in getting to grips with odds in general and learning all about how they work, head for our complete guide to sports betting odds.
OK, so you now have a way of converting any type of odds using our gambling calculator.
But what if you want to work out your own odds on a market and whether a bet is value?
With our sports betting calculator below, you can choose from the drop-down box the chance of an outcome happening. The betting odds calculator will then work out what the Fractional, Decimal, and Moneyline odds SHOULD be.
If, from your research, you've worked out that Brazil are a 60 percent chance to win their World Cup semi-final, choose it from the drop-down menu and you will see that Fractional odds are 2/3 on, the Decimal odds 1.67, and the Moneyline -150. Does that match the online bookies' pricing?
On this page you'll be able to convert sports betting odds using our sports betting calculator across the three different formats, or convert chance of winning percentages to each of the different formats, hassle-free and in a flash.
Here's how our betting calculator works. To use, simply input your known odds in either Moneyline (American), Fractional (UK) or Decimal (European) odds into one of the boxes in the gambling odds calculator and click the convert button. The odds equivalent in all other formats will then be shown, as well as your expected profit, odds, and payout. Remember that you would also have your original bet returned to you, so add that value to the profit for your total payout figure. The odds equivalent in all other formats will then be shown, as well as your expected profit. Remember that you would also have your original bet returned to you, so add that value to the profit for your total payout figure.
When betting on the moneyline in American odds, the team that you are betting on just needs to win the game. If Team A is -200 and Team B is -150 on Moneyline, you'd need to place a $200 bet on Team A in order to win $100 if they win. It also means you only need to place $100 on Team B in order to win $150.
The fractional odds displayed shows how much you can win on a bet compared to how much you put on it. The first number will show how much you can win, when you place the second amount as a wager. If you place $10 on a 2/1 bet, you'll receive $20 in winnings (not including your original bet amount).
With decimal odds, you will multiply your wager by the decimal shown, with the answer being what you will receive in winnings, including your original wager. Betting $10 on a 5.00 bet will net you $50 in winnings (including your returned bet).
We hope you make good use of our sportsbetting odds calculator and our odds converter app on this page. Now, put your knowledge to the test and sign up with one of our great sports betting sites. Whether you're into baseball, football, basketball, or racing, you will find odds in all three formats and a great range of markets to wager on and with our handy sports betting calculator, things couldn't be easier!
Learning how to calculate odds isn’t as difficult as it may seem, so if you are having trouble, here is a quick explanation. Taking a 2/1 wager as an example, you can calculate the percentage chance of this ratio bet by adding the right-hand figure to that of the left, so in this case it would be one plus two equalling three. From there, you divide the right-hand side – one – by the total figure – three – giving the answer of 33.3% or 0.333, which represents odds against, so with simple subtraction you can figure out that the odds for are 66.6% or 0.666.
When looking to make a bet, speed is key, something that our sports betting calculator can help with. Literally taking the equation out of the equation, our sports betting calculator provides a super quick way for you to work out how much you’ll make based on the wager you lay down and the odds presented. Input your type of odds, given odds, and total bet, and the betting calculator will handle the rest.
Moneyline odds (sometimes listed as US or American odds) probably rank as the most confusing odds format out there, largely as it appears to be used exclusively in North America. Based on a “+” and “-” setup within a market, here’s how you can go about calculating odds of this type – outside of using our moneyline calculator obviously. Taking a £100 wager at -110 as an example, let’s look at how such a bet breaks down. Within the -110, the -100 is required to generate a positive payout, so it’s a case of payout equals bet amount (-100 plus moneyline odds/100). Yes, it is a bit complicated to understand, but that is the nature of the beast when it comes to moneyline odds.
You certainly aren’t going to be handcuffed when it comes to odds types, as they can be displayed in a number of different ways. Moneyline odds are the popular format stateside, with it based upon “-“ and “+” symbols. For example, if Team A is -200 and Team B is -150 on a moneyline bet, you would need to place a £200 bet on Team A in order to win £100 if they win. It also means you only need to place £100 on Team B in order to win £150.
Those based in the UK will be familiar with fractional odds, looking at 2/1 as an example again; the initial number will display how much you can walk away with, while the second number is the ratio to the wager. For example, by placing £100 on a 2/1 bet, you will receive £200 in winnings – with this figure not including your original wager amount.
Finally, on European shores, decimal odds are often the preferred choice. When working with decimal odds, you will multiply your wager by the decimal shown, as such betting £100 on a 5.00 wager will secure you a £500 win – with this including your returned bet.
Expected value is the total amount that a punter can expect to win (or possibly lose) when they place a wager on the same odds multiple times over. Expected value is calculated by multiplying your winning probability with the amount you could win per wager, then subtracting the losing probability multiplied by the amount lost per bet. While it’s hardly a science - when used consistently - expected value should give any punter a clearer grasp on the value for money that a bookmaker is providing.