Odds Calculator

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 bet slip.

Like many entertainment options, sports betting comes with its own unique terminology. But, more than anything, understanding the numbers is key to a competitive bet.

The purpose of Gaming Today’s Odds Calculator is 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.

Let’s get to it!

Betting Odds Calculator

Enter the odds in the appropriate space provided, and our odds calculator will automatically calculate the odds and implied probabilities:

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What Are Sports Betting Odds

In sports betting, the odds tell you how much you can win relative to the amount that you are willing to risk. The most likely result of a game helps set the odds.

In American odds, an event with a roughly 50% chance of happening (for example, betting on either over or under a set number of points to be scored in a game) generally has odds close to -110. The minus sign means that the amount you will risk is greater than the amount you will win. In the case of -110 odds, you will need to risk $110 to win $100.

On the other hand, an event that is less likely to happen may have odds with a + sign. That means the amount you will win is greater than the amount that you have to risk. For example, an underdog may have odds of +200 to win. That means that if you risk $100, you can win an additional $200. US sportsbooks use this version of a moneyline bet most often.

However, bettors will likely be more familiar with fractional odds in the UK and much of Europe. So that same event that had a roughly 50% chance of happening, which had American odds of -110, would have fractional odds of 10/11. An underdog at +200 in America would have fractional odds of 2/1 in Europe.

Fractional odds are common in the world of horseracing as well. Use the odds payout calculator here at Gaming Today to balance a bet’s risks and opportunities.

What Is An Odds Calculator

An Odds Calculator is a way to quickly and accurately convert odds from any popular betting format into all other commonly encountered formats. It will also calculate the implied probability of the event in question.

How To Use An Odds Calculator

To use the odds calculator, enter the odds in the field corresponding to the starting format and let the calculator do the rest.

For example, if the sportsbook that you are using expresses everything in fractional odds. If you see a team that you like listed as “⅔,” you would enter ⅔ in the box under where it says “fractional odds,” and the odds calculator will instantly convert that into all of the following formats: American Odds, Decimal Odds, Hong Kong Odds, Indonesian Odds, and Malay Odds.

Perhaps even more importantly, it will calculate the implied probability given the odds that you entered. This is especially helpful for sharp gamblers who are trying to decide if they have found a good bet. If they believe that a given outcome is more likely than the implied probability, then it is a good bet for them at the stated odds. If they believe it is less likely than the implied odds, they might want to find a better bet elsewhere.

Gaming Today Odds Calculators

Take a look at some of our other odds calculators:

More Sports Betting Tools: Parlay Calculator | Moneyline Calculator | Futures Calculator | Implied Probability Calculator | 3-Way No Vig Calculator | Fair Odds Calculator | ROI Calculator | Kelly Criterion Calculator | Martingale Calculator | Arbitrage Calculator | NFL Spread Calculator | NFL Prop Bet Calculator

Odds Calculator FAQ

When should I use an odds calculator?

You should use an odds calculator if you are playing at a sportsbook or sports betting site that displays odds in a format that you are not familiar with.

Is it legal to use a moneyline calculator?

Yes. The odds calculator is not giving you access to any information that is not available to the public. It just helps you understand and confirm a betting amount before you actually make the bet.

Will an odds calculator help me to win?

Not exactly. An odds calculator will tell you the implied probability of a bet for given odds. It is up to you to determine if you think that the outcome has a higher probability than the implied odds (a good bet), a lower probability (a bad bet), or the same probability (a fair bet).

About the Author
Emma Carlin

Emma Carlin

Senior Writer
Based in Washington, D.C, Emma Carlin is a senior writer at Gaming Today. She has spent most of her career in public relations, writing and producing content for professional teams and athletes. In her downtime, you can find Carlin at D.C. United or Washington Capitals games.

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