- How To Calculate Odds Payout
- Betting Odds Calculator Ufc
- How To Read Betting Odds
- How Does Betting Odds Calculated
- How Is Betting Odds Calculated Odds
How are betting odds calculated when a market is open? To calculate betting odds, Canada bookmakers will also bear in mind how punters are placing their money on the market after it has opened. If, for example, everyone opted to place their money on Horse 1 in the above example, the bookmaker would be looking at a huge loss if that horse won the race. 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). Implied Probability. 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. On the most basic level, odds calculators are designed to help you understand the implications of your bets and ultimately determine what returns you will receive if you are successful. Such tools tend to operate in a standard format, with them first asking you to input the type of bet that you have made or are planning to make.
The first thing to know is that odds are typically calculated based on how many people are betting on a certain outcome. So if the Kansas City Chiefs are favored by many bettors to win over the New.
Online sports betting apps are popping up all across the US. Almost two dozen states already have sports betting in some format, and more are on the way. State legislatures are beginning to grasp the large opportunity presented by sports as eager bettors await regulation in their home states.
As a result, the US is becoming a hotbed for sports betting, and many of the states that have sportsbooks allow betting online. This means bettors can place wagers online via desktop or mobile devices, making sports betting easier than ever.
Plus, playing at legal, licensed, and regulated sportsbooks keeps you safe as a player. Luckily, there's a wide variety of options to choose from.
Simply put, sports betting is weaving its way into many corners of the US. Below we have created exclusive sports betting tools and calculators to help you bet better!
What Types Of Sports Betting Tools & Calculators Are There?
| Sports Betting Tools | What It Does |
|---|---|
| Moneyline | The most straightforward calculator of them all. Simply enter your odds and the wager, and see the potential win. |
| Arbitrage | Determine if betting on two different sides on the same match on two different sportsbooks will move the odds to give you a guaranteed profit. |
| Martingale | This will determine how much you'll need to wager to recoup losses. |
| Odds Converter | An automated way to convert a form of odds into a different form. For example, American odds to decimal or fractional odds. |
| Spread | Compare spreads at different sportsbooks to determine the better bet. |
| Futures | Determine implied probability based on all futures odds for a given sport. |
| Kelly Criterion | Calculate how much of your bankroll you should be based on the probability of winning an outcome. |
| ROI Calculator | Calculate the projected gains from a bet versus the total cost of the bet to determine your potential return on investment (ROI). |
| 3 Way Fair Odds No Vig | For events where a tie is possible (like soccer), three way fair odds calculator eliminates the vig and presents the odds as a percentage (implied probability) to better clarify the three options. |
| Fair Odds | This one also strips out the vig from the odds, but designed for two possible results: win or lose. |
| Implied Probability | Implied probability is simply the American odds presented as a percentage rather than plus (+) and minus (-) lines. |
| Parlay | Before you place a parlay bet, use the parlay calculator to ensure you're taking a higher risk for a worthwhile win potential. |
| Super Bowl Squares | Online super bowl squares with friends (no accounts needed) |
How To Use An Odds Calculator
Odds calculators help you determine what your payout would be if you were to make a specific bet. You can plug in your desired bet amount and the odds a sportsbook gives you, then the calculator will tell you what you'd win if the bet hit.
Odds calculators are particularly useful if you're trying to decide between a number of sportsbooks for a specific bet. Different sportsbooks offer different odds, so you can maximize your potential payout if you search for the best odds and use a calculator to help you decide your best path.
We have a number of odds calculators on our site for various types of bets, including moneyline, parlay, and futures calculators.
Moneyline Odds Calculator
Because moneyline bets are on a single team to win, it's the easiest calculator to use. Here's how:
- Type your desired bet amount (in USD) into the proper field.
- Type the odds as the sportsbook lists them.
- The calculator will autofill the rest of the fields and show you how much the bet would pay if you were to win.
Parlay Odds Calculator
If you're a fan of parlay bets (which combine multiple wagers into one), you can use a parlay-specific calculator. Here's how:
- Plug in your desired bet amount in USD in the proper field.
- Enter the odds for each individual leg of the parlay into the moneyline fields. Note that they don't have to be moneyline bets; just pull the odds from whichever bets you intend to use as part of the parlay.
- Click 'calculate' for your combined parlay odds and potential payout.
Check out some of our other odds calculators:
How Sports Betting Odds Are Calculated
If you're new to sports betting, chances are you've been confused by how odds work. They can be complex to understand for a newcomer, but once you understand the basics, you'll be betting like a pro.
The first thing to know is that odds are typically calculated based on how many people are betting on a certain outcome. So if the Kansas City Chiefs are favored by many bettors to win over the New York Giants, the Chief's odds to win will increase as bettors place wagers on that outcome.
Other factors can come into play, such as team record, past performance, injured players, etc., but bets placed are the biggest determining factor in most cases.
How To Calculate Odds Payout
How To Read Odds And Determine Payouts
Sportsbooks display odds as a positive and negative numbers, and those odds tell you how much you'll win if your bet hits. Here's a scenario to help you understand how they work.
- Chicago Bears +200
- Tennessee Titans -230
This setup is showing a moneyline bet, which means those are the odds for either team to win outright. Whenever you see a negative number (in this case -230), that means that team is favored to win the match and a bet of $230 would win you $100. The positive number (+200) shows which team is the underdog and tells you how much you would win if you placed a $100 bet.
How Can I Bet On Sports In The US
Placing a bet is easy at legal sportsbooks. You just have to go through a few steps before you're all set to wager.
Choose A Sportsbook And Create An Account
You can access most sportsbooks via desktop, Android, and iOS devices. If you're using an Android device, head to your preferred sportsbook's website to get the app. Google doesn't allow sportsbooks in its Play Store marketplace, but you can download the app directly from the provider's website.
Once you have the app or have visited the website, you can create your account. It's a similar process to creating an online banking or social media account. Have your personal information including your SSN ready and the rest will be straightforward. Onscreen prompts will guide you through the process.
If you're signing up on a mobile device, that's it! If you're on desktop, you may also have to download a geolocation plug-in. This is required to confirm that you are betting from a legal state.
Deposit Funds
Pick your favorite deposit method (so long as it's available at your sportsbook) and add funds to your account. PayPal, credit/debit cards, and online banking are available at most sportsbooks.
When you deposit, also check for bonus offers. They can boost your account value and give you extra money to bet with.
Place A Bet
Now, you're ready to place a bet! Peruse the available odds and find the bets you might want to place. This is the perfect time to use an odds calculator, especially if you're using multiple sportsbooks to shop for the best lines.
After you've calculated your odds and figured out which bets you'd like to place, make your wager.
Withdraw Your Winnings
If you're lucky enough to win a few bets, you can withdraw your winnings. PayPal, online banking, ACH e-check, and check by mail are common withdrawal methods, though some sportsbooks offer separate options.
What Sports Can You Bet On In The US?
The nature of legal online sports betting in the US creates a unique landscape in each individual state. Every state can regulate sports betting with their own legislation, meaning some sports that are available for betting in one state may not be available in another.
Professional Sports
Pro sports are fair game pretty much across the board in legal sports betting markets. You can bet on any of the most popular leagues without issue:
- NFL
- MLB
- PGA
- MLS
- NWLS
- WNBA
- NASCAR
- UFC
Plus many others.
College Sports
NCAA sports are somewhat of a mixed bag. They're usually available to bet on, but some states put specific restrictions on them.
In Illinois and New Jersey, for example, you can only bet on college match-ups that don't include a school from the state you're betting in. So Illinois fans can't place wagers on games including Northwestern or the University of Illinois, while New Jersey bettors can't wager on Rutgers or Princeton match-ups.
International Sports
Globally popular sports like soccer, rugby, and cricket are available for betting in most legal markets with few restrictions.
Esports
Esports betting runs the gamut from completely legal to prohibited to left out of legislation completely. Before you place an esports bet, make sure you check that it's legal in your state.
Non-Sporting Events
Elections and awards shows are among the most popular non-sporting events on betting platforms. Not every state allows betting on them, though. It varies by state, so check your local laws or betting sites for more information.
Legal Online Sportsbook Apps In The US: Common Questions
Not everywhere. In 2018, the Supreme Court struck down the Professional and Amateur Sports Protection Act. Rather than legalizing sports betting across the board, it put the issue in individual states' hands.
Many states have legalized online sports betting, and more are working on legislation to do so. While it's not legal everywhere, sports betting is swiftly making its way to more US markets beyond the two dozen that already allow it.
You can find sports betting odds by visiting the sportsbook website of your choice. They will usually display their odds without requiring you to log in or create an account.
Online resources also exist that compare and contrast the odds at top sports betting platforms. Sports news sites, including CBS Sports and NBC Sports, will often list the lines as well.
Using an online odds calculator or by calculating the odds manually. Gaming Today has several odds calculators to choose from.
How to read sports betting odds depends on how the odds are displayed. Decimal, fractional, and American odds all require different math for calculation. However, each are relatively easy to understand.
DraftKings, FanDuel, and BetRivers have the consistently best odds out of all the online sportsbooks in the US market. However, that isn't always true. In many cases, other sportsbooks will have better odds. The most successful sports bettors compare and contrast different options before placing a bet for that very reason.
Betting Odds Calculator Ufc
Range of factors. Sports betting odds are calculated based on a variety of things including injuries and trades, current team form, the weather, and beyond. How players are betting also determines the odds, which is one of the reasons why you'll see significantly different odds at one sportsbook versus another.
How To Read Betting Odds
An odds calculator helps sports bettors determine their betting strategy. The most basic is a moneyline odds calculator that tells you how much you'll win based on your bet and the odds. However, different odds calculators have different purposes, such as comparing futures, identifying arbitrage, and more.
You should use an odds calculator when you want to save time or for when the math is too complex to perform manually. It's never a bad idea to use an odds calculator, and they can ensure that no mistakes are made in your calculations, eliminating all chances of human error.
DraftKings Sportsbook. The sports betting website and app that consistently offers the best odds is DraftKings Sportsbook. It also offers a range of betting options, a deep sports selection, and impressive promotions. You can also seamlessly switch between the sportsbook, daily fantasy sports, and casino games (where legal). The DraftKings Sportsbook app is available for iOS and Android.
| Sports Betting Tools | What It Does |
|---|---|
| Moneyline | The most straightforward calculator of them all. Simply enter your odds and the wager, and see the potential win. |
| Arbitrage | Determine if betting on two different sides on the same match on two different sportsbooks will move the odds to give you a guaranteed profit. |
| Martingale | This will determine how much you'll need to wager to recoup losses. |
| Odds Converter | An automated way to convert a form of odds into a different form. For example, American odds to decimal or fractional odds. |
| Spread | Compare spreads at different sportsbooks to determine the better bet. |
| Futures | Determine implied probability based on all futures odds for a given sport. |
| Kelly Criterion | Calculate how much of your bankroll you should be based on the probability of winning an outcome. |
| ROI Calculator | Calculate the projected gains from a bet versus the total cost of the bet to determine your potential return on investment (ROI). |
| 3 Way Fair Odds No Vig | For events where a tie is possible (like soccer), three way fair odds calculator eliminates the vig and presents the odds as a percentage (implied probability) to better clarify the three options. |
| Fair Odds | This one also strips out the vig from the odds, but designed for two possible results: win or lose. |
| Implied Probability | Implied probability is simply the American odds presented as a percentage rather than plus (+) and minus (-) lines. |
| Parlay | Before you place a parlay bet, use the parlay calculator to ensure you're taking a higher risk for a worthwhile win potential. |
| Super Bowl Squares | Online super bowl squares with friends (no accounts needed) |
How To Use An Odds Calculator
Odds calculators help you determine what your payout would be if you were to make a specific bet. You can plug in your desired bet amount and the odds a sportsbook gives you, then the calculator will tell you what you'd win if the bet hit.
Odds calculators are particularly useful if you're trying to decide between a number of sportsbooks for a specific bet. Different sportsbooks offer different odds, so you can maximize your potential payout if you search for the best odds and use a calculator to help you decide your best path.
We have a number of odds calculators on our site for various types of bets, including moneyline, parlay, and futures calculators.
Moneyline Odds Calculator
Because moneyline bets are on a single team to win, it's the easiest calculator to use. Here's how:
- Type your desired bet amount (in USD) into the proper field.
- Type the odds as the sportsbook lists them.
- The calculator will autofill the rest of the fields and show you how much the bet would pay if you were to win.
Parlay Odds Calculator
If you're a fan of parlay bets (which combine multiple wagers into one), you can use a parlay-specific calculator. Here's how:
- Plug in your desired bet amount in USD in the proper field.
- Enter the odds for each individual leg of the parlay into the moneyline fields. Note that they don't have to be moneyline bets; just pull the odds from whichever bets you intend to use as part of the parlay.
- Click 'calculate' for your combined parlay odds and potential payout.
Check out some of our other odds calculators:
How Sports Betting Odds Are Calculated
If you're new to sports betting, chances are you've been confused by how odds work. They can be complex to understand for a newcomer, but once you understand the basics, you'll be betting like a pro.
The first thing to know is that odds are typically calculated based on how many people are betting on a certain outcome. So if the Kansas City Chiefs are favored by many bettors to win over the New York Giants, the Chief's odds to win will increase as bettors place wagers on that outcome.
Other factors can come into play, such as team record, past performance, injured players, etc., but bets placed are the biggest determining factor in most cases.
How To Calculate Odds Payout
How To Read Odds And Determine Payouts
Sportsbooks display odds as a positive and negative numbers, and those odds tell you how much you'll win if your bet hits. Here's a scenario to help you understand how they work.
- Chicago Bears +200
- Tennessee Titans -230
This setup is showing a moneyline bet, which means those are the odds for either team to win outright. Whenever you see a negative number (in this case -230), that means that team is favored to win the match and a bet of $230 would win you $100. The positive number (+200) shows which team is the underdog and tells you how much you would win if you placed a $100 bet.
How Can I Bet On Sports In The US
Placing a bet is easy at legal sportsbooks. You just have to go through a few steps before you're all set to wager.
Choose A Sportsbook And Create An Account
You can access most sportsbooks via desktop, Android, and iOS devices. If you're using an Android device, head to your preferred sportsbook's website to get the app. Google doesn't allow sportsbooks in its Play Store marketplace, but you can download the app directly from the provider's website.
Once you have the app or have visited the website, you can create your account. It's a similar process to creating an online banking or social media account. Have your personal information including your SSN ready and the rest will be straightforward. Onscreen prompts will guide you through the process.
If you're signing up on a mobile device, that's it! If you're on desktop, you may also have to download a geolocation plug-in. This is required to confirm that you are betting from a legal state.
Deposit Funds
Pick your favorite deposit method (so long as it's available at your sportsbook) and add funds to your account. PayPal, credit/debit cards, and online banking are available at most sportsbooks.
When you deposit, also check for bonus offers. They can boost your account value and give you extra money to bet with.
Place A Bet
Now, you're ready to place a bet! Peruse the available odds and find the bets you might want to place. This is the perfect time to use an odds calculator, especially if you're using multiple sportsbooks to shop for the best lines.
After you've calculated your odds and figured out which bets you'd like to place, make your wager.
Withdraw Your Winnings
If you're lucky enough to win a few bets, you can withdraw your winnings. PayPal, online banking, ACH e-check, and check by mail are common withdrawal methods, though some sportsbooks offer separate options.
What Sports Can You Bet On In The US?
The nature of legal online sports betting in the US creates a unique landscape in each individual state. Every state can regulate sports betting with their own legislation, meaning some sports that are available for betting in one state may not be available in another.
Professional Sports
Pro sports are fair game pretty much across the board in legal sports betting markets. You can bet on any of the most popular leagues without issue:
- NFL
- MLB
- PGA
- MLS
- NWLS
- WNBA
- NASCAR
- UFC
Plus many others.
College Sports
NCAA sports are somewhat of a mixed bag. They're usually available to bet on, but some states put specific restrictions on them.
In Illinois and New Jersey, for example, you can only bet on college match-ups that don't include a school from the state you're betting in. So Illinois fans can't place wagers on games including Northwestern or the University of Illinois, while New Jersey bettors can't wager on Rutgers or Princeton match-ups.
International Sports
Globally popular sports like soccer, rugby, and cricket are available for betting in most legal markets with few restrictions.
Esports
Esports betting runs the gamut from completely legal to prohibited to left out of legislation completely. Before you place an esports bet, make sure you check that it's legal in your state.
Non-Sporting Events
Elections and awards shows are among the most popular non-sporting events on betting platforms. Not every state allows betting on them, though. It varies by state, so check your local laws or betting sites for more information.
Legal Online Sportsbook Apps In The US: Common Questions
Not everywhere. In 2018, the Supreme Court struck down the Professional and Amateur Sports Protection Act. Rather than legalizing sports betting across the board, it put the issue in individual states' hands.
Many states have legalized online sports betting, and more are working on legislation to do so. While it's not legal everywhere, sports betting is swiftly making its way to more US markets beyond the two dozen that already allow it.
You can find sports betting odds by visiting the sportsbook website of your choice. They will usually display their odds without requiring you to log in or create an account.
Online resources also exist that compare and contrast the odds at top sports betting platforms. Sports news sites, including CBS Sports and NBC Sports, will often list the lines as well.
Using an online odds calculator or by calculating the odds manually. Gaming Today has several odds calculators to choose from.
How to read sports betting odds depends on how the odds are displayed. Decimal, fractional, and American odds all require different math for calculation. However, each are relatively easy to understand.
DraftKings, FanDuel, and BetRivers have the consistently best odds out of all the online sportsbooks in the US market. However, that isn't always true. In many cases, other sportsbooks will have better odds. The most successful sports bettors compare and contrast different options before placing a bet for that very reason.
Betting Odds Calculator Ufc
Range of factors. Sports betting odds are calculated based on a variety of things including injuries and trades, current team form, the weather, and beyond. How players are betting also determines the odds, which is one of the reasons why you'll see significantly different odds at one sportsbook versus another.
How To Read Betting Odds
An odds calculator helps sports bettors determine their betting strategy. The most basic is a moneyline odds calculator that tells you how much you'll win based on your bet and the odds. However, different odds calculators have different purposes, such as comparing futures, identifying arbitrage, and more.
You should use an odds calculator when you want to save time or for when the math is too complex to perform manually. It's never a bad idea to use an odds calculator, and they can ensure that no mistakes are made in your calculations, eliminating all chances of human error.
DraftKings Sportsbook. The sports betting website and app that consistently offers the best odds is DraftKings Sportsbook. It also offers a range of betting options, a deep sports selection, and impressive promotions. You can also seamlessly switch between the sportsbook, daily fantasy sports, and casino games (where legal). The DraftKings Sportsbook app is available for iOS and Android.
Whether you are new to the world of betting or somewhat of an old hand when it comes to having a flutter every now and again, you will undoubtedly be aware of the sheer range of options at bookmakers like Betfair and Paddy Power when it comes to having a bet.
While putting money on a horse winning a race may sound like a relatively straightforward matter, there is a wide range of bets available. For example, are you planning to keep it simple with a single bet on one race? Or, alternatively, are you looking to take a chance on a larger gamble with an accumulator?
Thankfully, that is where online odds calculators come into their own. These handy tools can make a huge difference to your betting activity, providing you with a full overview of the options available and ultimately helping you to place the bet – or combination of bets – that works best for you.
In this article, we are going to take a closer look at the concept of odds calculators, how they tend to work, and the key benefits that they can offer in terms of boosting your betting balance.
What is an odds calculator?
On the most basic level, odds calculators are designed to help you understand the implications of your bets and ultimately determine what returns you will receive if you are successful.
Such tools tend to operate in a standard format, with them first asking you to input the type of bet that you have made or are planning to make. This could be anything from a single to a Yankee to Super Heinz or an accumulator. Once you've provided this information, you will then be asked to enter the odds on your bet and also the stake that you've placed on it. The calculator may also ask you to either enter the odds in the decimal or fraction format, but we will touch upon the key issues related to that further on in this article.
How Does Betting Odds Calculated
You will then repeat that process however many times is necessary – for example, if you have placed multiple bets – and then may also be able to add information related to Dead Heats or any situation when Rule 4 may have come into play. The latter offers compensation in the event that a horse withdraws from a race after a bet is placed.
Clear benefits
After providing full information regarding your range of bets, the odds calculator will then take care of the hard work by doing the maths and generating an overview of the bets you have made or are planning to make, as well as the potential returns which will be available if you are successful.
Choose your each-way terms with the odds calculator – these vary based on the number of runners and the type of race
As you may have already realised, such tools offer clear benefits to horse racing fans whether they are planning for future races or even checking what their final winnings will be after placing several bets. The ability to input information on a combination of bets is a particular benefit, as it ensures you do not get a headache while attempting to consider the potential outcomes of the bets you have made.
Fractions vs decimals
For a great number of horse racing fans, the use of fractions is the traditional way of viewing the odds for the runners and riders, but the use of decimals is something which has grown significantly across recent years, too. The concept operates on the straightforward notion that you simply multiply a stake by the decimal shown and the outcome will be your total winnings. For example, if you place a £1 bet on a horse with odds of 4.00, you will get a return of £4.
While the use of decimals may seem very simple in that respect, it is worth bearing in mind that the concept offers up one fundamental difference in comparison to the use of fractional odds. When it comes to decimal odds, your stake is always factored into the return that you calculate but this is not the case when following the fraction method. In terms of the latter, if you put £1 on odds of 4/1 you will receive £4 in profit but also get your £1 stake back too – so £5 in total. As such, the fraction allows you to work out your winnings, but you will also need to factor in that your stake will also be returned to you as well.
A better understanding
It goes without saying that a huge number of people across the globe love betting on horse racing with bookmakers like Betfair and Paddy Power, whether they are attending race meetings in person, following the action on TV, or online via streaming services. You can get free Timeform tips for every British and Irish horse race and free Infogol tips on Europe's biggest football leagues. However, it is also true that some can find it a complicated world to navigate around and they often want a bit of a helping hand to get started.
How Is Betting Odds Calculated Odds
Whatever your level of experience, taking some time to gain a better understanding of how the different formats for odds work can be an important step towards making informed decisions on your betting. Furthermore, the use of odds calculators can help you fully understand how specific combinations of bets could put you on the path towards winning big and also ensure you are fully aware of the winnings that you are due.
