Advanced Odds Calculator
Calculate your potential payout, profit, and implied probability instantly.
Understanding Betting Odds Calculations
Whether you are a casual sports fan or a professional bettor, understanding how betting odds work is crucial for managing your bankroll and identifying value. Odds represent the ratio between the amounts staked by parties to a wager or bet. They also indicate the implied probability of a specific outcome occurring.
Types of Betting Odds Explained
1. Decimal Odds
Popular in Europe, Australia, and Canada, decimal odds represent the total payout for every $1 wagered, including the original stake. For example, odds of 2.00 mean that for every $1 you bet, you receive $2 back if you win.
2. American Odds (Moneyline)
Common in the United States, these odds are centered around the figure of $100.
- Positive (+) Odds: Indicates how much profit you make on a $100 stake. (+150 means $150 profit on a $100 bet).
- Negative (-) Odds: Indicates how much you need to stake to make $100 profit. (-200 means you must bet $200 to win $100).
3. Fractional Odds
Traditional in the UK and Ireland, fractional odds show the ratio of the profit won to the stake. For example, 5/1 means you win $5 for every $1 wagered.
The Math Behind the Calculation
Our odds calculator uses specific formulas to convert any odds format into payout and probability metrics:
- Decimal Payout: Stake × Decimal Odds
- Implied Probability (Decimal): (1 / Decimal Odds) × 100
- American to Decimal (Positive): (American Odds / 100) + 1
- American to Decimal (Negative): (100 / |American Odds|) + 1
Example Scenario
Imagine you place a $50 bet on a team with +200 American odds:
- American Odds: +200
- Decimal Equivalent: 3.00
- Implied Probability: 33.33%
- Total Payout: $150.00
- Net Profit: $100.00
This means the bookmaker believes there is roughly a 1 in 3 chance of this event happening, and you stand to double your money in profit if the bet wins.