An odds calculator can give you an edge by making sportsbook odds more understandable. Let the Gaming Today Odds Calculator help you plan your wager before you fill out your betslip.
Our odds calculator aims to help you understand how sports betting odds factor in what you are risking with a loss — and what you stand to gain with a win.
Read along to learn more about how an odds calculator can help you make smarter wagers.
Betting Odds Calculator and Converter
American Odds: The betting odds at most online sportsbooks are displayed in the American format. They can either be positive (+) or negative (-). We have explained how to read American odds below.
Implied Probability: This highlights the implied likelihood of a particular bet winning based on the odds a sportsbook offers. For example, a wager at odds of -250 has an implied 71.43% chance of winning, whereas a wager at odds of +1500 has a 6.25% implied chance of success.
How To Use the Odds Calculator
Find Bet
Find a betting option you are interested in, and make a note of the odds.
Enter Odds
Type the odds into the relevant space. For example, if you have American odds, enter them into the first space.
Collect Results
The calculator will then automatically display those odds in all the other formats. You will also be shown the implied probability of the bet succeeding.
American odds highlight the profit you will receive if the bet wins. They can be positive or negative. Here is an example of American odds:
- New York Jets to beat Tennessee Titans (-175)
- Tennessee Titans to beat New York Jets (+150)
If the odds start with a minus, they highlight the amount you must wager to win $100. In this example, you would need to wager $175 on the Jets to generate a $100 profit.
When the odds begin with a plus, they highlight the profit you would earn from a $100 bet. In this case, a $100 wager on the Titans would net you a $150 profit if they won.
You can wager any amount you like; the numbers are just a guide. For example, a $10 bet on the Jets would earn you a $5.71 profit, whereas a $10 bet on the Titans would net you $15. The larger potential profit on Tennessee tells you it is the underdog.
Decimal odds tell you the total return you will receive if your bet wins. That includes your profit and the return of your risk amount. Here is an example of decimal odds:
- New York Jets to beat Tennessee Titans (1.57)
- Tennessee Titans to beat New York Jets (2.50)
You simply need to multiply your bet amount by the decimal odds to calculate your potential return if the wager succeeds. For example, a $10 bet on the Titans would deliver a return of $25, as $10 x 2.50 = $25.
That includes your $15 profit and the return of your $10 risk amount. As such, decimal odds of 2.50 are equivalent to American odds of +150. The decimal odds format is common in Europe, Canada, and Australia.
Fractional odds are similar to American odds, highlighting the profit you would earn from a successful bet. Here is an example of fractional odds:
- New York Jets to beat Tennessee Titans (4/7)
- Tennessee Titans to beat New York Jets (6/4)
Once again, multiply your bet amount by the fraction to calculate your potential winnings. For example, a $10 bet on the Titans would net you a $15 profit if Tennessee won the game. As such, fractional odds of 6/4 are equivalent to American odds of +150 and decimal odds of 2.50.
Fractional odds are common in the UK and widely used on horse racing in the United States. If you are presented with fractional odds and want to see what they look like in the American format, just type them into our free odds calculator tool.
Betting Odds Conversion Example
Let’s say you like the Carolina Panthers to cover the spread against the LA Chargers at odds of -110. If you are interested in seeing odds of -110 displayed in different formats, just type -110 into the “American Odds” section of the calculator. It will deliver these results:
- Decimal Odds: 1.9091
- Fractional Odds: 10/11
- Hong Kong Odds: 0.9091
- Indonesian Odds: -1.1
- Malay Odds: 0.9091
- Implied Probability: 52.38%
Legal Sports Betting States for Odds Wagering
Sports betting is now legal in more than 30 states. These are some of the states in which bettors can benefit from our odds calculator:
Massachusetts
The Bay State’s legal online sports betting market began in 2023. There are seven regulated Massachusetts sports betting apps, and they all display their odds in the American format by default. However, you may sometimes find odds in different formats. For example, Canadian handicappers may use the decimal format when providing picks on Bruins games, so our odds calculator can be a useful tool.
North Carolina
North Carolina sportsbooks include industry leaders such as FanDuel, BetMGM, and DraftKings. If you find a pick you like at one of those sportsbooks and want to see the implied probability of it winning, just type the odds into our calculator.
Ohio
The Buckeye State has a large online sports betting market, with lots of rival apps vying for attention. These Ohio online sportsbooks invariably display their odds in the American format. Still, you can enter them into our calculator to check the implied probability or see them in a different format.
Odds Calculator FAQ
Betting odds highlight the profit you can look forward to if you place a successful wager. They also tell you the implied probability of the bet succeeding. For example, odds of +200 tell you to expect a $200 profit from a $100 wager, implying a 33.3% chance of the bet winning.
The betting odds can be used to calculate the implied probability of a bet succeeding. For example, odds of -120 give the bet a 54.55% implied chance of winning. However, you also need to remember that sportsbooks take a house edge on their betting lines, so the likelihood of a bet winning is typically lower than the implied probability suggests.
The betting odds calculator allows you to convert odds from one format to another. For example, if a handicapper gives you a pick at odds of 1.95 and you want to see it displayed in the more familiar American format, just type 1.95 in the “Decimal Odds” section. You will then see those odds equate to -105.
Odds of +100 mean you will earn a $100 profit if you place a successful $100 bet. It is essentially an even money bet, whereby you will double your money if the wager succeeds. American odds of +100 provide a 50% implied probability of the bet winning.
About the Author
