Odds Calculator

Types of Odds You Can Calculate

Now, our odds betting calculator is suitable even if you don’t know much about odds formats, and as long as you enter them in accordance with bookmakers the right way. Users only need to visit a sportsbook, derive the odds and enter them into the calculator’s textboxes to learn their potential profits. But those who want to stay informed and even learn how the odds calculator works ought to know how the different odds work. In fact, it’s essential for anyone who wants to use the calculator to have ana of how the various odds formats work.

First things first, the term ‘odds’ refers to the likelihood of something happening. In sports, it could mean the probability of a win, loss, draw, penalty and so on. The most common types of odds you can find at online betting platforms today include American, decimal and fractional odds. Some are pretty easy to understand, while others require more attention to understand the way they work. We will look at the different formats in the following section.

American Odds

As you can guess, American odds are mainly used by bookmakers focusing on bettors from the United States. They are also known as moneyline or US odds. They show your return on a unit stake of 100. Here, the odds for the favourite team have a negative (-) sign, while the ones for the underdog have a positive (+) sign. 

The negative (-) sign indicates the amount of money you need to bet to win £100. In contrast, the positive (+) sign represents the amount of money you stand to win for each £100 staked. Either way, the initial wagers are returned together with the amount won. Let’s consider a basketball game between Team BB1 and Team BB2, where the moneyline odds are listed below.

Team BB1: +450

Team BB2: -650

Looking at Team BB1, you need to risk £100 to win £450. If the team wins, you’ll get your initial bet of £100 back plus the £450 for a total payout of £550. And if you are betting on Team BB2, you need to part with £650 to win £100. In that case, a bet of £100 would have a total payout of $ 115.38, meaning that your profit will be $ 15.38.

Decimal Odds

If you’ve been placing bets online for a while, you’ve probably encountered decimal odds at various online betting sites. This odds format is common with the platforms in Europe, Canada, Australia and New Zealand. However, many bookmaker operators around the world use the format because it is the easiest to calculate, even for a beginner. It’s easy to know which team is the underdog or favourite, thanks to the decimal numbers. The underdog gets the most rewarding odds, while the favourite gets the less profitable odds.

To calculate your total return on your stake, multiply your stake by the odds offered at the bookmaker. Let’s look at an example of a match between Team A and Team B where the decimal odds are listed as follows.

Team A: 4.5

Team B: 1.5

Based on our example, Team A is the weaker team while Team B is the stronger team. If you bet £100 on Team A and the team wins, the total return would be £100 x 4.5 = £450. And the profit will be £450 - £100 = £350. On the other hand, a £100 bet on Team B will result in a total payout of £150, so the net profit would be £50.

Fractional Odds

Fractional odds are also known as UK or British odds because you are most likely to find them when visiting British or Irish online bookmakers. Depending on the bookmaker, fractional odds may be represented by a normal fraction with the slash (/) sign or a hyphen. For example, the odds for a particular event could be 5/1 or 5-1 (pronounced as five to one). 

So, what does 5/1 or 5-1 mean? Well, a fractional listing of 5/1 simply means you will win £5 for each bet worth £1. In simple terms, fractional odds represent your profit to bet ratio. You should also note that your bet amount is returned as part of the payout. If you stake £10 at 5/1, the total payout should be £10 x 5 (profit) plus £10 (stake), which will be a payout of £60 in total.

How to Convert Odds?

If you’ve used our sports betting odds calculator before, you must have noticed how the figure changes when filling out one textbox. That’s because the calculator uses math to convert the odds you provide into other formats. Well, let’s talk about how it works to learn more. 

Fractional to Decimal Odds

Procedure: Divide or solve the fraction and add 1

Example

Fractional Odds: 1/5 = 0.2

Decimal odds = 0.2 + 1 = 1.2

Decimal to Fractional Odds

Procedure: Subtract 1 and convert to fraction

Example

Decimal Odds: 1.25

Calculation: 1.25 - 1 = 0.25

0.25 = 25/100 or 1/4

Fractional to American Odds

Step 1: Divide or solve the fraction

Step 2: 100 x Answer if Answer is >= 1 or -100/Answer if Answer < 1

Example 

Fractional Odds: 1/3 

Solve: 1 divided by 3 = 0.333

-100/0.33 = -300

American to Fractional Odds

Procedure: American Odds/100 if > 0, or -100/American Odds if <0

Example 

American Odds: -200

Calculation: -100/200 = 1/2

Decimal to American Odds

Procedure: 100 x (Decimal Odds - 1) if Decimal Odds > 2

or -100/(Decimal Odds - 1) if Decimal Odds < 2

Example 

Decimal Odds: 1.25

Calculation: -100/(1.25 - 1) = -100/0.25 = -400

American to Decimal Odds

Procedure: (American Odds/100) + 1 if American Odds > 0

or (-100/American Odds) + 1 if American Odds < 0

Example

American Odds: 125

Calculation: (125/100) + 1 = 2.25

Final Words

Without a doubt, the odds betting calculator featured by Betpack is a pretty useful tool if you want to calculate your potential winnings in different odds formats. Additionally, we have other calculators, such as the incredible matched betting calculator. With this one, you can use a betting exchange to take full advantage of the free bets offered by online betting sites. The goal is to make guaranteed profits by placing lay bets. All the best!