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HOW TO Calculate odds

SportsBetting.png

HOW TO Calculate odds

How To Bet
Betting Basics
Sports Guides

Betting Odds Calculator

The bet calculator allows you to enter your bet amount and odds in American, Decimal, or Fractional formats, facilitating a swift calculation of your potential payout for your bets.

Payouts and profits may vary slightly depending on methodology and rounding when converting odds or calculating parlays. All payout and profit numbers here are shown for illustrative purposes only and may vary slightly from actual payouts and profits.

Bet Amount

Enter the amount of money you want to bet

$

American Odds

Example: +100, -350

Decimal Odds

Example: 1.30, 3.50

Fractional Odds

Example: 10/11, 3/1

Implied Probability

Example: 51%, 81.7%

Profit

Expected Winnings

Payout

Bet Amount + Profit

Example Game

Los Angeles Lakers vs Boston Celtics

American odds: Los Angeles Lakers +150, Boston Celtics -200

Decimal odds: Los Angeles Lakers 2.50, Boston Celtics 1.50

Fractional odds: Los Angeles Lakers 3/2, Boston Celtics 1/2

American odds:

Los Angeles Lakers +150: If you bet on the Los Angeles Lakers moneyline and they win, you would receive a profit of $150 for every $100 wagered. Thus, on a $100 bet, your total payout would be $250 (original stake + profit).

Boston Celtics -200: If you bet on the Boston Celtics moneyline and they win, you would receive a profit of $100 for every $200 wagered. Thus, on a $100 bet, your total payout would be $150 (original stake + profit).

Decimal odds:

Los Angeles Lakers 2.50: If you bet $100 on the Los Angeles Lakers moneyline and win, you would receive a total payout of $250 ($100 stake x 2.50 odds). This includes your original stake and $150 in profit.

Boston Celtics 1.50: If you bet $100 on the Boston Celtics moneyline and they win, you would receive a total payout of $150 ($100 stake x 1.50 odds). This includes your original stake and $50 in profit.

Fractional odds:

Los Angeles Lakers 3/2:If you bet $100 on the Los Angeles Lakers moneyline and win, you would receive a total payout of $250 ($100 stake x (3/2)). This includes your original stake and $150 in profit.

Boston Celtics 1/2: If you bet $100 on the Boston Celtics moneyline and they win, you would receive a total payout of $150 ($100 stake x (1/2)). This includes your original stake and $50 in profit.

Again, regardless of the odds format used, if you bet on a Los Angeles Lakers win, the resulting payouts for a $100 bet remain the same: $250. On the other hand, if you bet on a Boston Celtics win, the resulting payouts for a $100 bet remain the same: $150. regardless of the odds format.

Calculating Implied Probability

Implied probability in sports betting is the likelihood or probability of an outcome occurring as implied by the odds provided. It represents the chances of a specific outcome.

To calculate the implied probability, you can use the following formulas:

Positive American Odds: Implied Probability = 100 / (Odds + 100)

Negative American Odds: Implied Probability = (-Odds) / (-Odds + 100)

Decimal Odds: Implied Probability = 1 / Odds

Fractional Odds: Implied Probability = Denominator / (Denominator + Numerator)

Let's use a real-life example to calculate the implied probabilities using the three odds formats for a baseball game between the Boston Red Sox and the New York Yankees:

American Odds: Red Sox +120, Yankees -140

To calculate the implied probabilities:

For the Red Sox:

Implied Probability = 100 / (120 + 100) = 100 / 220 ≈ 0.4545 or 45.45%

For the Yankees:

Implied Probability = -(-140) / (-(-140) + 100) = 140 / 240 ≈ 0.5833 or 58.33%

Decimal Odds: Red Sox 2.20, Yankees 1.71

To calculate the implied probabilities:

For the Red Sox:

Implied Probability = 1 / 2.20 ≈ 0.4545 or 45.45%

For the Yankees:

Implied Probability = 1 / 1.71 ≈ 0.5848 or 58.48%

* The reason why this probability differs from the American odds probability is that the true decimal odds for the Yankees is equal to 1.7142857142857144. Therefore, 1 / 1.7142857142857144 ≈ 0.5833 or 58.33%

Fractional Odds: Red Sox 6/5, Yankees 5/7

To calculate the implied probabilities:

For the Red Sox:

Implied Probability = 5 / (5 + 6) = 5 / 11 ≈ 0.4545 or 45.45%

For the Yankees:

Implied Probability = 7 / (7 + 5) = 7 / 12 ≈ 0.5833 or 58.33%

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