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п»їBet Calculator - Calculate your betting odds.
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.
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 ВЈ1 bet on a horse with odds of 4.00, you will get a return of ВЈ4.
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.
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.
Betting Odds Calculator.
The betting odds calculator allows you to input your stake & odds in American, Decimal, or Fractional formats to quickly calculate the payout for your bets.
Top Offers.
American Odds are the default odds at American sportsbooks. These odds are based on winning $100 for a given bet.
Betting a Favorite: The odds for favorites will have a minus (-) sign , and represent the money you need to risk to win $100 .
So if you're betting on the Packers at -140 against the Vikings, that means Green Bay is a slight favorite. You need to risk $140 to win $100 on the Packers. If they win, you profit $100 and get your original $140 back.
The rest of the world uses Decimal Odds , in part because it’s easier to convert them to implied probabilities than American Odds. Decimal odds represent the amount a bettor wins for every $1 wagered . And the number represents the total return , not just the profit like American and fractional odds.
The Packers would be 1.714 in decimal odds as a -140 favorite in American odds. For every $1 risked, you’re profiting 71.4 cents, plus your $1 back.
Fractional Odds are used primarily in the UK and Ireland. Few bettors use fractional odds for betting sports (other than horse racing), because the conversions to understand return are difficult.
To calculate winnings on fractional odds, multiply your bet by the top number (numerator), then divide the result by the bottom (denominator). So a $10 bet at 5/2 odds is (10 * 5) / 2, which equals $25. A $10 bet at 2/5 odds is (10 * 2) / 5, which is $4.
Did you notice those percentages add up to more than 100%? That’s because of the vig, which is a sportsbook’s cut for facilitating your bet. To calculate implied probability, use the following formulas:
For negative numbers (favorites), drop the minus sign, then do:
For positive numbers (underdogs) :
The bet amount is how much you’re risking on a given bet. As a responsible bettor, it is important to understand proper bankroll management.
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Betting Odds Calculator.
Bet Calculator.
Wager.
Return.
The money you get back if you win.
To Win.
The profit you make if you win.
Super Bowl Special Offer.
A big offer for the Big Game!
Players can get a Risk Free First Bet up to $600 and, in addition, all users will receive $50 of Parlay Insurance.
New customers only. 21+. NJ, CO, IN, TN, IN, MI, IA, VA and WV only.
Calculate how much money you stand to win per wager with our betting odds calculator. It definitely comes in handy when placing bets on Monday Night Football!
A bet calculator is an absolute necessity in the arsenal of any serious bettor. The sports betting calculator allows users to simplify some of the more complicated math and get quick and precise calculations of odds and potential winnings.
To learn more about how to use a betting calculator and the different odds formats available for sports betting read below.
How To Use A Betting Odds Calculator.
A betting odds calculator takes the odds and stake of a particular bet and figures out the payout automatically. Thus, in order to understand how to use a betting odds calculator, we must first understand the different types of betting odds.
There are three popular methods of displaying odds at sports betting sites: American, Decimal and Fractional. Each type of odds requires different calculating methods when using a sports betting odds calculator.
You can also have a look at our odds converter!
American Odds.
Profit = (Stake * Odds) / 100.
Taking the example above, if we added a stake of $50 we can calculate the potential winnings from the bet using an odds calculator:
Profit = (50 * 275)/100 Profit = 13750/100 Profit = $137.50.
When calculating American odds for minus odds wagers, you are calculating the odds for favorites, which returns less than even money in profits. So if we took the same example and gave the Boston Red Sox odds of -140, it would represent the fact you would have to wager $140 to make a profit of $100. To calculate the profit for an American minus odds you may use the formula:
Profit = (Stake / Odds) * 100.
So if the Red Sox were getting -140 odds and you were going to wager $50 on them the betting calculator calculation would go like this:
Profit = (50 / 140) * 100 Profit = (0.357) * 100 Profit = $35.7.
When using an American odds bet calculator, you will only be required to know your stake and odds, the calculator will do the rest.
Decimal Odds.
Decimal odds are very popular across the globe with most online sportsbooks using decimal odds as their default. With decimal odds, you get the sum of the amount you would get in return for a $1 bet.
At most online sportsbooks like BetRivers or bet365, you can switch to this format if you prefer.
For example, let’s take a basketball game between the Los Angeles Lakers and Boston Celtics. If the Lakers were getting 2.50 odds for the game, it would mean that for every $1 you bet on the team you would get $2.50. To break it down, you would receive your stake back as $1 and another $1.50 in profits.
Calculating the potential earnings for decimal odds is very simple. You simply multiply your stake by the odds and then subtract your stake.
Profit = (Stake * Odds) – Stake.
Let’s take a look at the above example with a stake of $50.
Profit = (50 * 2.50) – 50 Profit = (125) – 50 Profit = $75.
While the calculations for decimal odds may seem very easy when the profits for accumulator bets are being calculated it’s best to use a betting odds calculator to ensure your accuracy. An odds calculator will automatically work out the odds of all the wagers combined and give potential winnings for parlay bets in seconds.
Fractional Odds.
Fractional odds are popular in the European region, especially amongst horse racing bettors in the UK and sometimes for Daytona 500 betting. With fractional odds, you are given the profit in proportion to the stake. So for example, if we had a matchup between the Dallas Cowboys and Washington Redskins where the Cowboys were getting 3/2 odds, it would mean that for every $2 you bet, you would get $3 in profit.
The way a betting odds calculator calculates the profits for a fractional odds bet is by dividing your stake by the denominator and then multiply the stake by the numerator:
Profit = (Stake / denominator) * numerator.
Taking the example mentioned above, if we add a stake of $100 to the Cowboys who are getting 3/2 odds, then the bet calculator calculation would go like this:
Profit = (100 / 2) * 3 Profit = (50) * 3 Profit = $150.
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