What is an odds calculator?
An odds calculator gives you a simple way to switch the odds format for any bet. This could be for American odds, fractional odds, decimal odds or even Hong Kong, Indonesian or Malay odds. Not only that but our odds calculator has a special feature that displays the implied odds as a percentage to reveal your chances of winning.
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.
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Pros and cons of a free odds calculator
You’ll have to think long and hard about coming up with any disadvantages to using our odds calculator. However, here are the main pros and cons of doing so:
Pros and cons of using an odds calculator
- Convert different odds format
- See your chances of winning
- Completely free to use
- Takes some mystery out of betting
What types of odds are there?
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:
How do you use an odds calculator?
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:
- Type in the odds you wish to convert into the relevant box
- Hit the calculate button
- See your odds converted into all of the other formats
- Check out the implied probability (your chances of winning the bet displayed as a percentage)
- Hit the Reset button if you want to convert some different odds
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.
A quick example of using an odds calculator
Let’s say that you wanted to bet on a Champions League soccer match between Inter Milan and Paris Saint Germain.
You found a betting site with great soccer odds but for some reason, it only displayed these odds in fractional format. Like many people, you find decimal odds a little easier to understand, and so you could do the following:
- Take Inter Milan’s odds to win of 6/5 and type them into the Fractional Odds section of the odds calculator
- Hit the Calculate button
- See that Inter Milan’s odds have been converted into decimal odds of 2.20
- You can also check out the implied probability of an Inter Milan win being 45.45%. This shows that they are the slight underdogs.
Who can benefit from using an odds calculator?
The short answer is everybody, but breaking this down a little further, we’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 the odds in your preferred format along with your chances of winning.
You know what you are doing and even find it simple to use advanced calculators like this
hedge bet calculator, but you want a time saving device that you can use to see your preferred odds at a glance - a calculator gives you all of this with the bonus feature of seeing the implied probability of winning.
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 your chances of winning, so you can make an informed decision about which bets 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 its chances of winning, or you can compare two opportunities to see which offers the best prospect using our
betting ROI calculator.
Plenty of other bet calculators to enjoy
This odds calculator isn’t the only piece of tech that can give you a helping hand with your sports bets. Check out some of these other calculators that can help you figure out what you should be betting on and even what your total bet amount should be:
- Payout calculators: Simply enter your bet amount and the betting odds and see what your potential payout could be.
- Implied probability calculators: These will convert the betting odds into a percentage that reveals your chances of winning that bet.
- Parlay calculators: Add in the odds for multiple selections in a parlay and then enter your bet amount. Now you’ll see exactly what you’ll win if you are fortunate enough to succeed with your parlay.
- Arbitrage calculators: These allow you to balance out the odds and betting stakes in a two-way or three-way market to lock in a profit.
By using an odds payout calculator you can see easily the odds in your preferred format along with the implied probability, 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 likely you are to win can help you decide if a bet is worth taking, and improve your sports betting experience. So be sure to fire up our odds calculator to get a more assured way to bet on sports.
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Odds calculator FAQs
❓ What is an odds calculator?
A sports betting odds calculator is a useful online tool that helps you make informed decisions by doing things like switching the odds into your preferred format and even 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.
👀 Where can I find a free odds calculator?
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.
🔎 What are the types of odds used in an odds 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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