BETTING ODDS CALCULATOR

Nobody likes being confused, especially when there is money on the line.

American odds can be a foreign language for any new bettor, but they must be confronted if one is going to understand the gambling landscape.

Bet Basics’ odds calculator is your premier tool for learning how to bet on sports.

From simplifying American odds to translating decimal and fractional odds and computing implied probabilities, the betting calculator is your new best betting friend.

Understanding the Benefits of the Odds Betting Calculator

The Odds Calculator is a powerful tool designed to assist bettors in making informed decisions and evaluating potential outcomes.

Here are some key benefits of using the calculator:

• Accurate Payout Calculation: The calculator swiftly computes the potential payout for different bet types, including moneyline, spread, and over/under bets.
  It eliminates the need for manual calculations and ensures precise results.
• Implied Probability Assessment: The calculator also provides the implied probability of a specific outcome based on the given odds.
  Understanding the implied probability helps you assess the likelihood of success and make more informed betting choices.

Real-World Examples: NFL Moneyline Bet

Let's explore how the Odds Betting Calculator can be applied to a real NFL moneyline bet:

Example: Kansas City Chiefs vs. New England Patriots

Moneyline Odds:

Kansas City Chiefs: -150
New England Patriots: +130
By entering these odds into the Odds Betting Calculator, you can determine the potential payout and implied probability for each team.

For instance, a $100 bet on the Chiefs at odds of -150 would yield a potential profit of $66.67 and an implied probability of 60%.

On the other hand, a $100 bet on the Patriots at odds of +130 would result in a potential profit of $130 and an implied probability of 43.48%.

Evaluating MLB Spread Bets

Now, let's see how the Odds Betting Calculator can assist in evaluating a spread bet in an MLB game:

Example: New York Yankees vs. Boston Red Sox

Spread Odds:

New York Yankees -1.5: -120
Boston Red Sox +1.5: +100

Using the Odds Betting Calculator, you can input these odds to determine the potential payout and implied probability.

If you bet $100 on the Yankees with a spread of -1.5 at odds of -120, a winning bet would yield a potential profit of $83.33 and an implied probability of 54.55%.

Conversely, a $100 bet on the Red Sox with a spread of +1.5 at odds of +100 would result in a potential profit of $100 and an implied probability of 50%.

I love watching my favorite teams compete night in, night out. It’s appointment viewing on my living room television screen and the best possible background noise to dinner. And yet, few would argue that every game has the same intensity that makes it so great. Sometimes, it’s 5-1 in the fifth inning or 23-7 entering the fourth quarter. Perhaps an NBA superstar is having a load management day. There’s a gap of intensity to fill, and the oft-advertised world of sports betting is an ample solution.

However, I waited way too long to get in on the action. Why? I don’t like losing and I hate being wrong. Why was the favorite, the Philadelphia Eagles, listed with a moneyline of -170 when the spread was at -110? Was it worth it to take the Knicks at +140 odds to win? American odds like these confused me, and I missed out on the fun because I was intimidated.

An adequate odds calculator would have helped me grasp the world of sports betting sooner. A good betting odds calculator allows bettors to input the lines they are considering and the amount they are willing to bet. From there, it displays the line in American, decimal, and fractional odds, while showing the implied probability and potential winnings, too.

This is invaluable to new bettors looking to educate themselves on otherwise confusing lines and how realistic their bets are. The implied probability included in the Bet Basics sports betting calculator allows bettors to evaluate their bets before they make them.

Parlays, defined as two or more bets combined for a more lucrative reward if each bet hits, are a fun alternative to typical straight bets. For example, betting on the Orlando Magic to win (+130), Franz Wagmer to score more than 18.5 points (-120), and Markelle Fultz to surpass 6.5 assists (+104) should net +760 odds, but a sportsbook may list it at +574, winning $186 less on a $100 bet. We can use a parlay odds calculator to find this difference. Instead, it may be more worthwhile to mitigate risk and bet each individually, which would win $317.33 if all $100 bets were successful.

Previewing multiple lines, or Legs, with a parlay odds calculator is another exciting feature that allows beginner and veteran bettors alike to gauge if a parlay is worth it, rather than placing wagers individually.

Odds of +200 mean a $100 bet would net $200 in profit if it were to hit. The wager here is thought of as unlikely to be successful, as it only has an implied probability of 33.33%. This can be observed if a team is a fairly heavy underdog or a player is struggling and unlikely to reach a specific prop, such as 10+ rebounds.
How do I calculate odds? The fastest and easiest way to calculate odds and translate them from one form to another is through a sports betting calculator. This would show you the odds in its different forms, as well as the implied probability it carries and how much the bet can win. One can also find parlay odds by inserting each leg into the parlay section of the calculator. What does +1200 betting odds mean? A bet that has +1200 odds has implied odds of 7.69%. You would win $1200 if you placed a $100 bet on that line and it was successful. By inputting +1200 into the American odds section of a gambling odds calculator, you would find those details along with the fractional and decimal odds.

When someone says 25 to 1 (25-1 or 25/1) odds, they are referring to a bet in which your selection has an implied win probability of 3.85%. This would be displayed as +2500 in American odds and would win $2500 on a $100 bet. You can place different bet amounts and see how the payouts will look like by using our odds calculator.

You can use a betting odds calculator to convert fractional odds to American or decimal odds, or you can take the long way by hand. To convert fractional odds to positive American odds, you just take the value of the fraction (say 3/2 = 1.5) and multiply by 100 (+150). For negative odds, divide -100 by the fractional odds value ((-100/(1/3)) = -300).

The easiest way to find the implied probability of a bet is to use our implied probability calculator. However, you can also do the math yourself.

Assuming one is using American odds, they can use two formulas to calculate implied probability. If we use X to display the line, like -110 (the most common line for spreads and player props), the formula is as follows: (-X/(-X+100))*100. For positive odds like +300, the formula is: (100/(X+100))*100.

You can calculate a parlay payout with a parlay odds calculator, the second tab on our sports betting calculator. Simply input the odds for each leg of the parlay and the amount you wish to bet, and you will see what your potential payout should look like.

The easiest way to break down how much you win with a particular line is by examining a moneyline, or the odds that a specific team wins a game. Say the Bucks are heavy favorites over the Nets. The Bucks moneyline may be -200, which means you would need to place $200 down to win $100. The Nets could be at +200, which means a $100 wager would win $200. Naturally, betting on heavy favorites is safer, but provides fewer winnings and takes longer to make up for if they were to lose. How do you bet American odds? Positive American odds, like +500, are used on events that are deemed less likely to occur. That number stands for the amount of money one would win with a successful $100 bet. On the other hand, the favorite (or more likely) option is represented as a negative number. With negative American odds, such as -250, one would have to place a $250 bet in order to win $100.