By using our betting odds calculator, you will know exactly how much money you’re risking and how much money you could win before placing a bet at your favorite online sports betting sites. The odds calculator above will do all that and more with one easy click.

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How to Calculate Sports Betting Odds in 2023

Our betting odds calculator serves three useful functions. First, you will be able to quickly calculate the potential payouts you stand to earn from any of your sports bets. The betting calculator cuts out the potential for human error.

Second, you can covert betting odds between American odds, fractional odds and decimal odds. This is helpful, because betting odds are often presented in different formats. Most sports bettors have a preferred betting odds format, so this tool allows you to quickly switch to the odds format you are most comfortable with. Finally, it provides you with the implied probability of success that the betting odds suggest.

The sections below explain the different betting odds formats and what they mean. For now, let’s focus on how to use our bet payout calculator to work out your potential winnings on a bet.

Using This Sports Bet Payout Calculator

Let’s say you want to place a $75 bet on Tiger Woods to win the Masters and you see his odds listed at 12/1. Fractional odds are common in the UK and other parts of Europe but not at US sportsbooks. You could use this free bet code converter tool to instantly see that 12/1 equates to +1200 in American odds and 13.00 in decimal odds, which are common at Canada sportsbooks. To figure out your potential profit, you simply have to follow these steps:

1. Enter your betting amount. In this example it would be $75.
2. Choose your preferred odds format. You would select “Fractional” for this example.
3. Enter the odds, and it will tell you the equivalent odds in American and decimal formats, plus the chance of success (the implied probability that the odds suggest).
4. The “Results” section on the betting odds calculator will tell you the win amount and your total payout amount. In this example, you would win $900 if Woods prevailed, and your risk amount is returned on successful bets, so your total payout would be $975.

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Another Gambling Odds Calculator Example

You might see an online bookmaker offering decimal odds of 1.69 on the LA Lakers to win on the moneyline against the Philadelphia 76ers in an NBA game and decide you want to wager $100 on the Lakers. Our betting odds calculator allows you to see what 1.69 is equivalent to in American odds and fractional odds formats, and you can also see what sort of payouts you would earn on a successful wager:

1. Type in $100 as your betting amount.
2. Set the preferred format to decimal.
3. Enter 1.69 in the decimal odds box. You will see that it equates to -145 and 69/100, with a 59% implied probability of success.
4. The “Results” section explains that you would win $69 and earn a total payout of $169, as you get your stake (bet amount) back on winning bets.

What are American Odds?

American odds can start with either a plus (+) sign or a (-) minus sign. If the American odds start with a plus, it tells you the profit you would earn from a $100 bet if successful. For example, if the Kansas City Chiefs are priced at +800 to win the Super Bowl, it tells you to expect an $800 profit from a successful $100 bet. American odds do not include the return of your bet amount. In this example, you would earn an $800 profit, but your total payout would be $900, as you get your risk amount back. Our bet calculator works out all of this for you and presents it in a clear format.

You do not have to wager precisely $100. That is simply a guide. For example, you could bet $20 on the Kansas City Chiefs at American odds of $800, and you would earn $160 profit and a $180 total payout if they went on to win the Vince Lombardi Trophy.

If American odds start with a (-) minus symbol, it tells you the amount you would need to wager in order to win $100. For example, if you see odds of -110 on the Brooklyn Nets to cover the spread against the Boston Celtics, you know that you would need to risk $110 to generate a $100 profit. Your total payout would be $210, as you get your bet amount back. Once again, this is just a betting guide. You could be $5,000 on the Nets covering and earn a $4,550 profit if they were successful.

What are Decimal Odds?

Decimal odds tell you the total payout you stand to earn from winning bets. It includes the profit and the return of your bet amount. Decimal odds are the most common format used in Europe, Canada, Australia and various other countries. You can convert decimal odds to American odds or fractional odds using our free bet calculator.

Sticking with the NFL odds examples used above, you would find odds of 9.00 on the Chiefs winning the Super Bowl. It tells you to expect a $9 payout (including an $8 profit and the return of your $1 stake) for every $1 you wager. A $100 bet at 9.00 pays out $900 (including an $800 profit and the return of your $100 bet amount). You would also find betting odds of 1.91 on the Brooklyn Nets covering the spread in the decimal odds format. It shows that you can expect $1.91 in return for every $1 wagered if successful.

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Decimal odds are generally viewed as the simplest and clearest odds format, but you can easily convert decimal odds to an alternative method using our odds payout calculator.

What are Fractional Odds?

Fractional odds are the prevailing format used in the UK. They are also used in horse racing betting across the United States and around the world, so it is helpful to have a thorough grasp of them. You can convert fractional odds to American odds or decimal odds using this gambling odds calculator, which can essentially be used as a horse racing calculator.

Fractional odds are similar to American odds in that they tell you the potential profit you stand to earn from a winning bet. They do not include the return of the bet amount. You can calculate your potential profit by multiplying your bet amount by the fraction.

For example, you would find 8/1 on the Chiefs winning the Super Bowl. If you wanted to bet $100, you could multiply it by 8/1 to calculate your potential profit of $800. You then have to add the $100 bet amount to arrive at your total return. You would also find 10/11 on the Nets covering the spread. You could multiply $110 by 10/11 to see that your potential profit would be $100. Some fractions can be a little complex, so our gambling calculator does all the hard work for you.

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What is Implied Probability?

This tells you the inherent chance of success implied by a set of betting odds, essentially converting odds to probability. For example, if the betting odds are +100 (which is equivalent to 2.00 in decimal odds and 1/1 in fractional odds), the implied probability is exactly 50%. It suggests you have a 50/50 chance of success. If you are betting on a longshot NFL futures bet at odds of 40/1 (these fractional odds convert to +4000 in American odds; decimal odds of 41.00), your implied chance of success is 2%. On the other hand, if you bet on a heavy favorite at -800 (1.13 in decimal odds and 1/8 in fractional odds), it tells you that there is an implied 88% chance of success. This betting odds conversion tool is therefore often referred to as a probability to odds calculator or an implied odds calculator, as it tells you the probability of winning a bet, based on the odds set by the top US sportsbooks and the best mobile sports betting apps.

How to Calculate My Payout?

Our sports betting calculator allows you to work out your potential payout on any bet. It is quick and simple, and it cuts out the possibility of human error. You can also use it to check your sportsbook is providing fair payouts. Simply type in the amount you want to bet, your preferred format and the odds. The sports odds calculator will then tell you the amount you stand to win and the total payout. For example, if you go for a $100 bet at an Arizona sports betting site on the Coyotes to win an NHL game at American odds of +120, you will see that your potential win amount is $120, and your total payout will be $220 if successful.

Why Use an Odds Converter?

An odds converter is an incredibly useful tool, one all serious gamblers have used at some point if not frequently. Being a successful sports bettor isn’t about picking one team you think is better than another team. The betting odds are the most important thing, whether it’s the point spread or moneyline. A good gambler is looking for betting value in numbers more so than value in teams or players. Our odds calculator provides those hard numbers instantly, calculated automatically, in all different formats, so that bettors know all the exact numbers before making an informed decision on which outcome to back at their favorite sportsbooks.

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Our free bet code converter is also helpful for bettors who don’t necessarily count every dollar in their bankroll. It immediately lays out the inherent risk/reward in any bet. For example, the New York Yankees could be- 250 on the moneyline for a home game against the Toronto Blue Jays at some Ontario sports betting sites. Maybe you want to bet on the Yankees at that price to earn a profit of $60. The calculator shows the bettor must risk $150 to win $60, leaving them to decide if that’s good value or not without having to calculate it on their own.

RELATED: Want to parlay a few bets together? Then go to our parlay odds calculator, plug in the odds and see the potential payout.

How to Read Betting Odds

The betting calculator can help with all sorts of wagers. It’s not limited to point spreads and can be used in the same way for prop bets and totals.

Point Spread

The point spread is the most common form of betting in the U.S. and is generally listed as such:

• New England Patriots -7.5 -110
• Miami Dolphins +7.5 -110

A bet on the Patriots at these NFL odds means they need to beat the Dolphins by eight points or more in order to win the bet. A bet on the Dolphins means they can’t lose by more than seven points. The number to the right of the point spread is the amount you’ll need to wager in order to win $100. Enter the amount you want to bet, put “-110” into the odds section of our points spread calculator and you’ll see the potential payout on a point spread bet.

Totals

Totals are much the same. Over/under is a popular way to bet, wagering on the total combined score as opposed to either team. It’ll look like this at an online sportsbook featuring NBA over/under betting:

• Houston Rockets U 233.5 -110
• Golden State Warriors O 233.5 -110

The Rockets are listed first as the away team at the best online betting sites, and bettors decide if the total combined score will be more or less than 233.5. Repeat the same steps from point spread betting in order to calculate the risk/reward from potential wagers on the over or under.

Prop Bets

Prop bets often have different odds than the standard -110 for point spread betting. An NBA player prop bet looks something like this:

Points Scored By Trae Young

• Over 29.5 +115
• Under 29.5 -141

It’s harder to do the math in one’s head for something like -141, so again the odds calculator instantly shows potential payouts and helps bettors make smart moves.

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How to Read Horse Racing Odds

Horse racing odds are generally displayed in the fractional format. The number on the left of the backslash tells you the amount you stand to win by wagering the amount on the right. For example, 7/1 tells you to expect a $7 profit for every $1 wagered if the horse wins. Fractional odds of 9/2 tell you to expect a $9 profit for every $2 wagered, while odds of 10/3 explain that you will earn a $10 profit for every $3 you bet. You can also just multiply the amount you want to bet by the fraction to calculate your profit. Then add the bet amount to arrive at your total payout. This page allows you to convert odds to American odds or decimal odds, so it is an effective horse racing bet calculator.

Using Bookies.com Odds Calculator To Make Betting Decisions

With point spread comparisons, public betting consensus, the very latest odds in all sports and the odds calculator, Bookies.com is your one-stop shop for making the most informed sports bets. The betting odds calculator can be used for any number of reasons, but it doesn’t make decisions on its own or ultimately impact your chances of winning or the outcome of a game. It’s an unbiased odds calculator tool that bettors can use for their own purposes, whether that’s calculating risk, using it as an odds converter or helping to better manage a bankroll.

Novice sports bettors can lean heavily on the odds calculator as they learn more about point spreads and different types of odds. Even the most experienced players still have use for it, especially as an odds convertor to avoid any tricky math. It can be used as a moneyline calculator, a horse bet calculator, a chance calculator, for point spreads and totals, or any other wager you might be considering.

No matter your knowledge or experience level, the betting calculator can help everyone make smarter decisions with their bets and amount wagered.

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