How to work out betting odds on calculator

Member-only story How to check betting odds Once you understand win bets, you could explore full cover bets. The advantage here is you can win a payout even if some of your predictions fail to come true

Calculating betting odds will depend on which odds format you used to place your bet: American, Decimal, or Fractional odds. Most bettors in the United States will use American odds. Each odds format represents the same thing: the percent chance of winning. To calculate this percentage, convert odds from American to Decimal. Then take 1/Decimal odds to calculate the implied chance of winning. You can also calculate the bets payout, profit, and more. How do you use implied probability? And for fractional odds, which are perhaps most commonly seen during horse races, the numerator details the number of times the bookkeeper expects the result to fail while the denominator illustrates the number of times they expect the result to succeed. If it’s 8/5 odds for a race for Horse A against Horse B, that means Horse would be expected to lose eight out of the 13 outcomes while winning the other five.

The minimum standard bet for horse racing is $2. Depending on the race and the rules of the racetrack, the minimum could be slightly lower. Before you even begin to place a bet, you need to know what the odds are of the particular bet you want to make. This easy-to-read chart explains exactly what the payout would be on a $2 winning bet at various odds: How Do the Odds and Implied Probabilities Change for Odds Other Than -110? Sports betting odds come in several different formats. American odds, decimal odds and fractional odds look different, and it can be hard to understand your potential payout in each case. Our betting odds calculator allows you to convert fractions, decimal and fractional odds with ease.

Step 2:Enter the amount of money you wish to bet. Our calculator will take care of the rest. You’ll see how much money you’ll win, and the total payout you’d receive. We set the bet amount to $100, but you can enter any amount you want as long as your bankroll can handle it. Step by step calculation Covers remains your source for respected and actionable sports betting information and analysis, with over 25 years of industry experience. Our betting experts only recommend betting sites that meet our rigid standards, reinforced by the Covers BetSmart System™.