Our odds calculator is perfect for showing you how to calculate potential winnings for all types of sport wagers. It indicates how much you will win based on the odds and total wagered. That way, you’ll know the exact amount you would win prior to placing any picks at your favorite sportsbook.
Below is an explanation on how to bet on sports by using our betting odds calculator to get all the data you need to make the right wagers!
How to Use Our Betting Odds Calculator
Enter your odds. Our calculator supports all major formats:
Most betting sites offer each odds option. It’s entirely up to you which type you prefer. We use the American style here at Odds Shark.
Enter the amount of money you wish to bet. Our calculator will take care of the rest. You’ll see how much money you’ll win, and the total payout you’d receive. We set the bet amount to $100, but you can enter any amount you want as long as your bankroll can handle it.
Format Definitions: Odds and Probabilities
There are three methods of stating odds that most bookmakers and websites support. Implied Probability is also useful when evaluating a bet or checking how likely an outcome is.
Positive Figures (+): The odds state the winnings on a $100 bet. Ex: American odds of +120 would win $120 on a $100 bet.
Negative Figures (-): The odds indicate how much must be bet to win $100 profit. Ex: American odds of -120 would win $100 on a $120 bet.
Decimals quote the potential return should the bet succeed, relative to the stake. If $10 is bet at odds of 4, the total returned is $40 ($10 x 4) and the potential profit is $30 ($10 x 4 minus the $10 stake).
Used mostly in the United Kingdom and Ireland, fractions quote the potential profit should the bet succeed, relative to the stake. If $10 is bet at odds of 3/1, the potential profit is $30 ($10 x 3) and the total returned is $40 ($30 plus the $10 stake).
Odds correlate to probability. A 4/1 bet is expected to win one in every five attempts, therefore the probability is 20%.
Odds Conversion Table
Using Moneyline Odds
The moneyline is one of the most common bets. This is a straight-up bet. All you need to do is pick the winning team.
Let’s say you want to bet on an NBA game. The odds would look something like this:
Totals or OVER/UNDER betting is when you wager on the combined score of the two teams competing in any given game, and whether the total will be OVER or UNDER the sportsbook’s prediction.
The amount that is set by the oddsmakers is based on how they foresee a game unfolding from a scoring perspective.
At betting sites, Totals bets would look something like this:
You would type -110 in the American Odds section to see how much you’d win based on the amount wagered. If you believe the combined score for both teams will be 105 points or more, you would bet the OVER. If you think the combined score for both teams will be 104 points or less, you would bet the UNDER.
Point Spreads: Which Team Will Cover?
For point spread bets, the oddsmaker adjusts the line so that the underdog gets an advantage.
The odds would look like so:
|New York -3.5||-105|
Prop betting is a wager based on occurrences or non-occurrences during a game or season. These incidents may not correlate with the outcome of a game or even the final score unlike point spreads, totals or straight-up bets.
Props are what we call novelty bets because they can consist of individual player or team milestones, and will appear like so at betting sites:
|OVER 30.5 Points||-115|
|UNDER 30.5 Points||-115|
In this player prop, you’re betting on the number of points that James Harden will score in a game. You can bet OVER or UNDER the oddsmaker’s line of 30.5 points for The Beard.
If you bet OVER 30.5 and Harden scores 31 or more points, then your bet wins. If he doesn’t, it loses.
If you bet UNDER 30.5 and Harden scores 30 points or less, your bet wins. If he scores more, your bet loses.
The futures wager is ideal if you’re looking to make long-term bets. You would pick the team below you believe is going to hoist the Larry O’Brien Championship Trophy, and enter their odds in the American Odds section.
|Los Angeles Lakers||+200|
|Los Angeles Clippers||+300|
Our odds calculator can compute just about everything, including live betting. Live betting lets you wager while the game is going on, for instance to bet on who will score next. However, parlays (more than one bet on a ticket) have a separate betting calculator for more intricate wagers, which allows you to input the odds for each leg of your parlay to quickly calculate the payout of your bet.
Odds Calculator FAQ:
How do you bet odds?
American odds, depending on whether there is a negative (-) or a positive (+) sign, indicate either the amount of money you need to bet in order to win $100 or the amount of money you would win for every $100 wagered. Decimal odds represent the amount of money you win for every $1 bet. And Fractional odds are the ratio of the amount of money (profit) won to the amount of money wagered.
What are 7 to 4 odds?
7 to 4 odds means that out of 11 possible outcomes, odds are that there will be seven (7) of one kind of outcome, and four (4) of another kind of outcome. For every 11 possible outcome, odds are that seven of them will be a particular event, and four of them will be another event.
How much do you win at odds?
A positive number indicates how much a correct wager of $100 would win, while a negative number indicates how much you would need to wager in order to win $100. If there are odds of +170, you would know that a $100 wager could return $170 in winnings, plus you get your initial $100 back.