Our odds betting odds calculator can be really helpful in the calculation process for any kind of sport betting as it shows how much one would earn based on the amount wagered and odds. In this way, you will know in advance the exact figure of your potential earnings before you place your bets at the favoured sportsbook with regards to the wagers you want to make.
What are the Odds for Betting and it’s Importance?
It is always wise to consider how much you are willing to place on the line and why on that specific bet.
It’s understandable if you aren’t great at maths or would prefer not having to think too much and that’s where our odds converter comes in.
How to Use Our Odds Converter.
Step 1
Odds estimator. The odds applet is compatible with all widely used methods of computation:
American Odds (-400)
Decimal Odds (1.25)
As a fraction (1/4)
Implied Probability (80%)
Most betting sites offer each odds option. It’s all up to you which one type you want to use. American style is used by us here.
Step 2:
Input the amount you are willing to stake. Our calculator will automatically do the rest. You will be able to see how much money you will earn, and what is the total amount you would be paid out. We preset the bet stake to 100 dollars, but you can type any amount as long as your betting account supports it.
Format Definitions: Odds and Probabilities
There are three methods of stating odds that most bookmakers and websites support. But there’s also a fourth- that’s also useful when evaluating a bet or checking how probable an outcome is – believed odds.
American Odds
Positive Figures: The odds quote the profit on a $100 stake. Eg: American odds of +120 means that if I wager $100 I would win $120 American dollars.
Negative Figures: The odds quote the amount that must be staked in order to be able to realize a profit of $100. Eg: In other words, American odds of -120 mean, for a $120 bet I stand to win $100.
Decimal Odds
Decimals represent how the amount set to win is to the amount set to risk. For example, if $10 is wagered with odds of 4 than the payout would be $40 ($10 multiplied by 4) and the profit made would be $30 ($4 minus the $10 stake).
Fractional Odds
In the UK and Ireland, Fractions indicate profit which serves as a relative figure to the stake if the bet wins. As an example, if $10 is wagered at 3/1 odds, a 30 dollar profit is possible ( 10 dollars multiplied by 3) and 40 dollars is returned in total (30 dollars plus the original 10 dollars wagered).
Implied Probability
Looking at the odds, one can easily get the corresponding probability that likely the event will occur. For example, the 4/1 bet can reasonably be predicted to win after every four losses. Thus, a probability of 20% is practical.
Odds Conversion Table
FRACTIONAL DECIMAL AMERICAN IMPLIED PROBABILITY
1/5 1.20 -500 83.3%
2/9 1.22 -450 81.8%
1/4 1.25 -400 80%
2/7 1.29 -350 77.8%
3/10 1.30 -333.3 76.9%
1/3 1.33 -300 75%
4/11 1.36 -275 73.3%
4/9 1.44 -225 69.2%
5/4 2.25 125 44.4%
11/8 2.38 137.5 42,1%
9/1 10.00 900 10%
10/1 11.00 1000 9.1%
20/1 21.00 2000 4.8%
50/1 51.00 5000 2%
100/1 101.00 10000 1%
1000/1 1001.00 100000 0.1%
Using Moneyline Odds
The moneyline is one of the many popular bets. This is a straightforward bet, all efforts should be directed towards selecting the winning team.
Let’s assume you want to place a wager on an NBA match. The odds would look along the lines of:
Boston vs New York: Moneyline
Odds for Both Teams
Boston Celtics EVEN
New York Knicks -120
So, for example, you may want to place a bet of 100$ on the Knicks and you will see that in the dispensation team bet box. The numbers that you should also insert are -120 in our moneyline calculator and $100 in the Bet Amount ($) section. This means you will get paid $183.33. This amount is $83.33 extra when added to the $100 return from the initial amount placed.
Moreover, if I decide to place a bet of $100 on the Celtics, I would input +100 (EVEN) on the American Odds field in the Bet Amount ($) dialog box. Looking at the above figures, my payout in this instance would be $200.00. This amount is obtainable after deducting the amount bet in the first place which is $100 from the total win of $200.
Totals
Total betting or betting on OVER/UNDER refers to placing a blind bet on the team’s final score added or simplified with the final score of the opponent and the total is noted as OVER or UNDER the predicted score made by the sportsbook.
On betting websites, the Total betting looks as follows:
Boston vs New York: Total
Option Odds
OVER 104.5 -110
UNDER 104.5 -110
You would write -110 in the American Odds section to determine your payout depending on the amount bet. If you feel that both teams will reach a total of at least 105 points, you will wager on OVER. On the contrary, if you expect both teams to achieve a maximum of 104 points, you would place a bet on UNDER.
Point Spreads: Which Team Will Cover?
The oddsmaker moves the line in point spread bets to give a benefit to the underdog.
This is how the odds would look:
Boston vs New York: Point Spread
Option Odds
Boston +3.5 -115
New York -3.5 -105
You would enter -115 in the American Odds section if you believe Boston will cover and -105 in the American Odds section if you believe New York will cover.
If you place a bet on the Knicks, they would need to shell out a win that is more than 4 points tally. Meanwhile, for your bet on the Celtics to be successful, they would have to either win or lose by three points after that you place a bet on them.
Milestones of Players and Teams: Prop Bets Explained
A prop wager is a type of bet which depends on some aspects or some events that occur or do not take place within the game or over this season. These events could be on other things like point spreads, totals or straight up betting for that matter because they do not have to do with winning or loosing a game To score or even the final score.
There are strange bets which we refer to as props bets and odd betting services allow for things like individual player or team milestones for which they look like this:
Points total scored by James Harden – betting over or under 30.5
Option Odds
OVER 30.5 Points -115
UNDER 30.5 Points -115
In this particular case of the player prop, you are placing a bet on the number of points that James Harden , also known as The Beard, will earn during a game. The indication shows that the prop allows a wager to bet either OVER or UNDER 30.5 points by the odd maker’s rating.
If you place a bet on OVER 30.5 and Harden goes ahead to score not less than 31 points, then you win the bet. In other instances, you would loose it.
If you placed a bet on UNDER 30.5 and Harden end up scoring 30points, you then win the bet; An instance that he scored more, will then turn your bet to a losing one.
You’re betting on the future of a particular outcome, which is why they are called futures wagers. If for example, you were to bet on the Los Angeles Lakers to ‘hoist’ the Larry O’Brien championship trophy with the help of the basketball betting only. Such type of bet where you have several months to a couple of years in order for it to pay off can be placed on any season.
Mr. John Harrison’s 2012 Australian Open betting collection contains a golden ticket with a North Team logo on it, and 1000 other custom mementos. You would input these odds into our betting calculator by clicking on the American Odds section to show what the total payout would be.
The following are the odds for the team that wins the championship.
Los Angeles Lakers – 200
Milwaukee Bucks – 225
Los Angeles Clippers – 300
Boston Celtics – 1500
Houston Rockets – 1500
Toronto Raptors – 1600
Denver Nuggets – 2200
Since John participated in his first match against Roger Federer, numerous individuals bet on him through an immeasurable amount of bets on every match. At the same time, more elusive bets such as pelmens odds have their very own betting calculator which allows enter the odds for each leg of the parlay so you could figure out how much it would be to payout rather quickly.