Calculators can make the savvy bettor's life easier, and top of the list is the odds calculator. In this short guide, I’ll show you how to use one to work out your potential winnings before placing a bet.
This way, you’ll be able to make informed decisions about which wagers you are making, just by adding a few simple details. You’ll be able to see at a glance whether your bet is right for you or not. There’s one to use on this page, and I’ll take you through the process so you can see how it works.
Go to BetMGMAn odds calculator is a handy tool for sports bettors just like you. As the name suggests, it provides you with the means to work out potential returns on your various bets and see your prospective winnings instantly. Regardless of whether you’re a newbie or an experienced bettor, understanding and more importantly using an odds calculator can help you make informed decisions about your sports bets.
When using a sports betting odds calculator, you could be using odds in different formats. This can be confusing and entering odds in the wrong format into betting calculators can give you wildly different answers, so a quick rundown of what to expect can help you. I’ve chosen the three most common types, and provided a brief explanation of how they work. You can find a more in depth guide to the different odds types elsewhere in the betting school.
| Odds type | Example | Brief description |
|---|---|---|
| Decimal | 1.70 | Show the total payout you will potentially get for every unit staked, including the original stake |
| Fractional | 7/10 | show the profit relative to the stake. The numerator (first number) is the potential profit, while the denominator (second number) is the stake |
| Moneyline/American | -142 | Positive odds show how much profit you would make on a $100 bet, while negative odds indicate how much you need to bet to win $100 |
As you can see, there is a free odds calculator on this page and it is quite intuitive so the process to use it is very straightforward. Just to clear up an rookie errors, the steps to follow are
And let the calculator do the rest. As with any calculator, it is only as good as the information you put in, so putting in the wrong data will give you an incorrect result. For this reason, you should check your figures before entering them, and also look at the answer you get to ensure it does not seem too outlandish. This can be common when entering the stake incorrectly, as the returns from a $10.00 stake are very different to those from $1000.
The short answer is everybody, but breaking this down a little further, I’ve identified four types of bettors for whom the benefits are clear:
You might be a bit nervous and not sure about what’s going on, so you could do a ‘double check’ of anything you’ve worked out. By using a calculator, you’ve got an instant confirmation of your potential returns, making the whole process a lot less intimidating.
You know what you are doing, but you want a time saving device that you can use to see your potential returns at a glance - a calculator gives you all of this with enhanced accuracy.
You have a small betting budget and you want to make sure you are using it as effectively as possible. By using a free odds calculator like the one on this page you can get a handle on potential returns from prospective wagers, so you can make an informed decision about which ones to take.
You have, or are working on your own betting strategy. You can use an odds calculator to see if a wager fits your criteria for returns, or you can compare two opportunities to see which offers the best prospect using our betting roi calculator.
By using an odds payout calculator you can see easily what your potential return would be from your chosen bet, and after reading this guide, you’ll know how they work and how to use the one on this page. Taking the guesswork out of knowing how much you might win if successful can help you decide if a bet is worth taking, and improve your sports betting experience. Of course this is not the only type of calculator available here, because as well as more beginners tools like this sports betting odds calculator, there are also more advanced tools like a parley and even a hedge bet calculator.
A sports betting odds calculator is a useful online tool that helps you make informed decisions by calculating your potential returns based on the odds and your stake. They are simple to use and are useful to bettors regardless of their level of experience.
A free odds calculator is a useful tool that can improve your sports betting experience, but can be hard to find. To help with this we have one available in the betting school, along with other types of calculators, including a parlay calculator.
There are three different types of odds used commonly in a sports betting odds calculator. These are decimal, fractional and American. For a more detailed explanation of how these odds types work, check out our recent guide.
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