Betting Odds Converter & Calculator + Complete Guide

All you have to do is enter your stake and the American odds from a selected sportsbook. American odds are used in the US and Canada, while decimal odds are used in Europe and Australasia. You’ll find fractional odds in the United Kingdom and Ireland.

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One and two-sided my explanation confidence intervals are reported, as well as Z-scores. No matter your knowledge or experience level, the betting calculator can help everyone make smarter decisions with their bets and amount wagered. 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.

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As an example, with odds of +400, for every $1 you bet, you will win $4. You have not found a value bet and should not place a bet informative post on the Giants. Betting odds represent the probability of an outcome occurring and the return you will receive if your bet is a winner. It could be the likelihood of all of your final four betting picks being correct.

That is quite simple, the bookmaker or betting provider wants to earn money, of course. In our example, you can see that the bookmaker calculates with a margin of 15.3%. The margins vary and therefore it is worth comparing them. With that in mind, you can use implied probability to clearly outline the chance of your bet being successful.

The team with the higher of the two numbers is the underdog and the team with the lower of the numbers is the favorite. The return can be calculated by multiplying the bet with the the decimal odds. As for the odds, the most common number for spread bets is -110, but that number varies depending on the location, sportsbook and how popular each side is. The typical number is -110, which means you have to bet $110 to win $100. However, there are states where odds are worse in order to get the state more money such as -115 or -120.

Shoving would avoid this, or being last to act and checking the turn, if possible, then these equity calculations are accurate. For example, if the pot is $100 and you have 15 outs, or 53% as he suggests, a pot sized bet of $100, if called, gives you 2 to 1, right? But you only get one card for that bet, and your equity is 31.9%, not 53%.

Odds for favorites are accompanied by a minus (-) sign. Using -300 as an example, this means you must bet $300 to win $100. Odds for underdogs are accompanied by a plus (+) sign. If you see odds of +300, this means you will win $300 for every $100 you stake.

How To Calculate Odds

This means that a betting site that offers odds of 5.00 about a selection thinks it has a 20% chance of winning. However, you must remember that betting sites rarely bet to 100%, so they, actually, think the chances of the selection winning are slightly less. If moneyline odds have a plus sign, the following number shows us our possible winnings for $100 we bet. If there is a minus sign, the following number shows how much we have to wager in order to win $100.