Betting Odds Calculator
If you’re new to sports betting, or just want to figure out a few calculations before placing your wagers, you can use something called a betting calculator* to figure out your expected winnings. All you need are the odds and your stake, and the calculator will do all the work for you.
While you could do this math on your own, you may not have time to get your pencil and paper out to try to work through the formula, so odds calculators are a huge benefit.
The most important factor you will want to understand first though, is which odds format you want to use. Odds calculators offer American odds, Decimal odds and Fractional odds, so you can always find the odds type you want to use, based on how you view the sportsbook.
The next thing you will want to figure out is the implied probability of your bet winning. This is a percentage of how likely it is that your bet will cash. You will also see the total winnings, plus your stake and winnings added together which is your net return if your bet does win.
Let’s look at the three main odds formats and how these are calculated to find your expected winnings.
American odds are the most popular odds format in the U.S. and is the most simple way to determine how much you would win on a $100 wager. On underdog odds, the number next to the (+) sign indicates your winnings on a $100 wager. On favored odds, the number next to the (-) indicates how much you have to bet to win $100.
However, when using different stake amounts, you may prefer to use your betting calculator.
If you prefer to view your odds in Decimal format, which is more widely popular in European countries, you will have a little math to do if you aren’t going to use the betting calculator. All you need to do is multiply your odds by the stake, then deduct the stake. Sounds easy enough!
If you have odds of 9.0, and you want to bet $10, you will do the following calculation:
9.0 x 10 = 90
Then you will subtract your $10 wager.
90 – 10 = $80
This means a $10 wager will win $80 if you bet on the 9.0 decimal odds. The calculator can do this easily for you, but the math isn’t too complicated if you wanted to do it yourself.
Another popular U.S. odds format is fractional odds, which is easier to understand in your head than decimal is, for the most part. We all learned fractions growing up, so this one should be a piece of cake to work out – however, the betting calculator can solve this in a mere second, so it’s a nice feature to have when you don’t want to be wasting time on math.
The denominator is your stake, and the numerator is how much you would win. So if you had 9/1 odds, you would win $9 for each $1 wagered.
You can also find out the probability of that wager winning from the fractional odds as well.
If you have the 9/1 odds still, and want to know the likelihood of that wager winning or the implied probability of that wager to win, you can do the following calculation:
Denominator/(Numerator+Denominator) = %
1/ (9+1) = .10 which equals 10%.
While all of these calculations are quite simple, a betting calculator can really help you speed up the process and do the math accurately for you before you place anything on your bet slip. We recommend getting to know how these odds formats work and how to calculate these, but it’s really not necessary when you have an excellent betting calculator bookmarked on your browser!
If you’re familiar with parlay calculator betting, you may already know that parlays include multiple wagers in one single bet slip. These bet slips allow you to combine different outcomes or game results in one single ticket and combine the odds for each straight wager to create a much riskier slip that pays out big.
The catch, and what makes parlays risky, is the fact that all wagers in your bet must win for your bet to cash. If you chose five different games to place a wager on and you were only right on four outcomes, you will not win, not even a portion of the potential winnings. It’s all or nothing.
When it comes to betting on these wagers, it can be great to use a parlay calculator to determine how much you may win and the potential odds you will be looking at for your wager.
You can look at different outcome odds, and how that might benefit your parlay bet and how you can mix things up or add odds to your bet slip to make a more profitable wager.
You can add any bets to your parlay bet as long as they do not contradict, as you’d be setting yourself up for a loss if you did.
How to use the Parlay Calculator?
You can easily set up your parlay bet on the parlay calculator. Once you figure out the wagers you want to make, you will just have to create that number of bets on the calculator, then select the odds format you would like to use, and then enter the odds of the wagers you want to place.
Once you do that, you will select your stake for the wager – this will be the total amount you are betting on all wagers within the slip. The calculator will determine how much your potential payout would be if you placed these wagers.
Let’s look at the different types of wagers you can add to your bet slip:
Moneyline Bets: these wager types allow you to bet on a straight wager – bet on a team outright to win a game. It doesn’t matter what the score is, by how much the team wins by, as long as the team you choose wins the game – even in overtime.
Totals or Over/Under Bets: these wager types allow you to bet on the total number of points that both teams score collectively. You may mix one of these totals wagers in your parlay slip if you aren’t sure who exactly may win the game, but you know that both teams are good for a certain number of points.
Point Spread Bets: these wager types allow you to give the underdog team an imaginary head start before the game begins. The line is set by the oddsmakers. The favored team will need to win the game by that amount, and the underdog team will need to win the game outright, or lose by less than that number.
Prop Bets: There will be a huge variety of these betting types on each of the major professional games – you can find a huge selection of prop bets on the NFL, NBA and NHL, as well as other major events.
There will be team props, player props and game props that you can add to your parlay slip, which allows you to bet on some unique circumstances that occur that don’t have anything to do with the final outcome.
If you add all of these outcomes to your bet slip and feel ready to place the wager, you can head over to the BetUS Sportsbook and enter the wagers into your actual, real-life betslip, make sure you select ‘parlay’ and then submit your wager!
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*Please note – This calculator is available for your entertainment purposes and to give an approximation of payouts based on your bets. As odds fluctuate for exact payouts and returns, please use the betting slip at BetUS