How Are Sports Betting Odds Calculated
Under Odds Type, pick your odds style. Input your first wager in the Bet #1 slot. Click on Add Bet to add the other wagers on your ticket. For favorites, you must add the minus sign (-) before the odds. 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. Make your sports betting experience easier with our multibet calculator, calculate the total odds of your multi in any odds format! You can enter the odds of each leg and the calculator will then tell you how much the overall multi is worth; the total value of the odds.
- How To Determine Odds
- How To Read Betting Odds
- How Are Sports Betting Odds Calculated Horse Racing
- How Are Sports Odds Determined
The sports betting odds calculator allows you to convert betting odds across American and Decimal odds. The odds calculator will also tell you the equivalent implied probability of winning as well as return and profit given a bet amount. Fields with a yellow background are editable.
Betting Odds Calculator This is the% that you will need to win a bet with the entered odds in order to break even. For example if the odds were +150 you would need to win that bet 40% of the time (4 out of every 10 bets) in order to break even. Any percentage higher than 40% and you will be profiting. Sports Betting Odds Calculators. Moneyline Odds Calculator. Convert the amount wagered and the odds into possible winnings. Works in reverse too. Enter the amount you want to win and the odds to see the amount you need to wager. Use American odds -110, +110, etc. Amount to Bet $.
How to use a sports betting odds calculator
The sports betting calculator above allows you to see various outputs such as decimal odds, implied win probability, amount returned on a bet (or “payout”), and bet profit.
The yellow fields above are input cells. All you need to enter are the American odds of a bet (either by using the slider or entering the value in the field) and the bet amount.
You can use the odds calculator a few different ways:
- Convert odds from American to Decimal
- Convert American odds to an implied win probability percentage
- Return the profit of a given bet if it wins
The betting odds calculator will work for all types of bets: point spread, moneyline, total, or props. For any bet that has a handicap value set (ex: a point spread of -6, total of 43, etc.), you can ignore that part and simply enter the odds associated with that bet.
Related: Find sports betting calculators and more tools here
Moneyline Odds Calculator
Take for example the following matchup and associated moneyline odds to win the game:
Minnesota Vikings (+260) at San Francisco 49ers (-330)
I have bolded the moneyline odds to make it obvious what we are looking for. If you wanted to place a $10 bet on the San Francisco 49ers at -330, you could enter -330 in the odds calculator above.
You would see the following information as a result. Odds of -330:
- Decimal odds = 1.30
- Implied win probability = 76.7%
- $10 bet = $13.03 payout
- $10 bet = $3.03 profit
Point Spread, Total (Over/Under), and Props
Let’s say you wanted to bet a different market on the same game. Using the Vikings/49ers example, we have the following markets:
How To Determine Odds
Point Spread: Vikings +7 (-110) at 49ers -7 (-110)
How To Read Betting Odds
Total: Over 44.5 (-120), Under 44.5 (+105)
Prop: Kirk Cousins TD Passes: Over 2.5 (+165), Under 2.5 (-190)
I have highlighted the actual odds you would enter for any of the given markets. Despite each example above representing a different bet, they all have odds that you can enter into the calculator.
Win Probability Calculator
The odds calculator will also tell you the implied probability of winning a given set of odds.
You can also check out our implied win probability to odds calculator if you want to take a win percentage and translate it to American or Decimal odds.
Using the previous example, American odds of -330 represents a 76.7% implied win probability.
Why is this useful?
How Are Sports Betting Odds Calculated Horse Racing
Knowing the implied odds of a bet is extremely useful if you are doing your own modeling. If you have a model that says the San Francisco 49ers have a 79% chance to win the game, you could compare that to the implied win probability to see how it compares.
While most models are unlikely to be sharper than the market number, it is a useful comparison point to see how your “number” compares to the market. Using odds calculators are a good way to check how your numbers stack up.
How Are Sports Odds Determined
How do I calculate betting odds?
Calculating betting odds will depend on which odds format you used to place your bet: American, Decimal, or Fractional odds. Most bettors in the United States will use American odds. Each odds format represents the same thing: the percent chance of winning.
To calculate this percentage, convert odds from American to Decimal. Then take 1/Decimal odds to calculate the implied chance of winning. You can also calculate the bets payout, profit, and more.