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# How to calculate decimal odds of bet legalized sports betting in kansas

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How To Calculate Expected Value (Worked Examples)

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Decimal odds is very popular among bettors in sports betting and this kind of odds is convenient to calculate bets, especially if place accumulator bets. Knowing how to convert betting odds into implied probabilities is fundamental for betting as it helps you assess the potential value on a particular market.

Once converted, if the implied probability is less than your assessment, then it represents betting value.

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The most common odds formats are decimal, American and fractional. The formulas below explain how to convert odds to implied probabilities.

Therefore, according to the decimal odds of, Andy Murray had an chance of winning. Converting fractional odds to implied probability. To calculate the implied probability from fractional odds the equation is denominator denominator + numerator implied probability. Therefore to find out the probability of a Murray win would simply be 2 2 + 9. Decimal odds are the default format used by bookmakers like Pinnacle.

It may be useful to learn how to convert fractional odds into decimal odds. You can arrive at the decimal odds value for your coin toss choice with the simple equation 1 probability for your chosen outcome. So if you bet 10 on Heads with odds of your return including stake is x 10 which equals 20 this includes your 10 stake + 10 profit. Being able to calculate probability and understand where odds actually come from is an essential part of evolving as a bettor because it enables you to calculate your own expected frequency for an event starting to model your own odds and then compare what you think will happen with what odds are available. Instantly convert betting odds in any format.

Supports decimals, fractions, American odds. The tool will also tell you how likely the event is to occur to help you know what your chances of winning are. Plus when you're away from a computer or mobile, learn how to manually convert the odds formats with simple maths. Convert a fraction odd into a decimal odd by dividing the first number the numerator, by the second number the denominator, and adding 1. Equation numeratordenominator + 1 decimal odds Example 65 is equal to Divide 6 by 5. This equals Add 1, and you had the decimal How To Convert Decimal Odds To Fractional.

There are two steps to convert decimal odds into a fraction. Understanding how to read odds is a crucial step to becoming a successful sports bettor. From determining how much money you want to wager to figuring out which bets offer the most value, it all starts with a solid understanding of the odds. What Are American, Decimal, Fractional Odds? Odds are displayed in either American, Decimal, or Fractional formats, and serve two purposes They signal the implied probability of the outcome they are attached to.

They indicate how much money you could win betting on that outcome. Of the three types of odds you’ll encounter in your betting endeavors, decimal odds are the easiest to work with. Decimal odds are displayed like this Calculating Payouts with Decimal Odds. Decimal odds tell us two things Price allowing you to calculate exactly how much money you will win if your bet wins. Probability the likelihood of your chosen bet actually winning. But unlike fractional odds that show the potential returns without your stake, decimal odds represent the return from your bet including your stake.

Decimal odds against’ prices 1 stake x 6 6 returns. An alternative format to decimal odds are fractional odds. There’s no mathematical difference between the two types. Instead, it’s just a different way to display the same information. Some people prefer decimals while other prefer fractions. To learn more about how fractional odds work in betting click here.

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We use decimal odds when matched betting because of the high level of accuracy offered and that the exchanges have decimal odds as their default setting. This means that, whenever the matched betting calculator is used, decimal odds for both the bookie and the exchange must be input. The other way of displaying bookmaker prices are American odds. Unsurprisingly, this is the presentation style in the US.

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They state either a plus or a minus sign The negative number shows the amount one would have to wager to make profit and a positive number shows how much you would win if you bet So, if an outcome is priced at, you need to bet to make profit your stake would also be returned. Decimal odds show the total amount you will get back if your bet wins for every 1 unit you stake.

Unlike other types of odds, decimal odds always include the initial stake in the return rather than just the profit. If 1 unit is, then you would get back if the decimal odds were on offer at This return would be made up of profit and initial stake. With decimal odds, is seen as evens. This means that you would double your money if you were to place a bet at that is your initial stake back as well as the amount you staked as profit. Converting betting odds is a vital part of a successful betting strategy in Learn how to convert between fractional, decimal and american odds today.

Since the rise of online gambling and the invention of betting exchanges, the popularity of decimal odds has increased significantly. Like fractional odds, decimal odds are very easy to use. They allow you to easily calculate your total returns including your stake from a winning bet.

You multiply your stake by the odds. Therefore a 25 bet at decimal odds of would return 50 25 x 2 50. The third and final odds format used within the betting industry are American odds. You guessed it, this format is mainly used within the US, so you probably won’t need to use them.

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How to calculate odds in betting Decimal and fractional. Knowing the likelihood of a certain result is something that’s not unique to experienced bettors many people who’ve never placed a bet can tell you the chances out of 10 that, say, Barcelona will beat Juventus. How are odds calculated in football? Betting odds are relatively simple to understand when you know the principles behind them. You’ll see decimal odds expressed as a decimal number for example, and the higher the number the more money you stand a chance to win higher numbers represent longer odds, which is another way of saying that the outcome you are betting on is less likely to happen.

Fractional odds, for their part, are expressed as fractions such as 51. The mathematical concept of odds is related to, yet distinct from the concept of probability. In simplest terms, odds are a way of expressing the relationship between the number of favorable outcomes in a given. Purpose of Betting Odds Decimal Odds Moneyline Odds Fractional Odds Best Odds Bookies.

Usage of the Betting Odds Explained in Detail.

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In the next section, we will have betting odds explained for you. If you are a novice, we do recommend you stick around. Odds are one of the important factors in sports betting, and you need to make sure you understand their purpose and function.

For a novice, fractional odds may be a little tricky, especially when it comes to calculating one’s potential profits. For your peace of mind, we shall say that the format is not as complicated as it appears to be. With a little practice, you will get things right eventually. Normally, the format is expressed as a fraction.

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Learn how to understand fractional and decimal betting odds and how to use them to calculate an event’s probability and your potential winnings. With decimal odds, to work out the probability percentage, you simply divide the odds by one. For example, odds of 1 You then remove the decimal point to get a 60 probability. Calculating probability for American odds initially seem a touch more complicated but can be easily broken up into two parts.

First off, there are the minus moneylines, which as we’ve explained, represent the favourites to win the game. Converting the minus moneyline odds into its implied probability follows this formula minus' moneyline odds minus' moneyline odds +. With moneyline bets, you can instantly calculate how much you’re going to get paid and lock in your bet to get that payout.

American odds are preferred with many US bookmakers, although you can still find decimal point odds, and fractional odds if you want.

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Examples of American odds, decimal odds, and fractional odds American Odds Baltimore Ravens [+]. Fractional Odds Baltimore Ravens 52. Decimal Odds Baltimore Ravens Another popular sports betting option is total line odds. These are known as the over and under bets in the game. With those odds, you can easily calculate the amount of return that you would get back from placing a bet on either of those outcomes.

But what are the implied chances of each of those outcomes happening? It is important to know because this also relates to the risk of your bet. So let’s take a look at just how to convert odds to probability percentages. The most common form of odds are going to be decimal odds in the UK and here is how to convert decimal odds to probability.

These are clear odds to read and for example the 65 odds on Liverpool from the example above means that for every 5 units you put on, you will receive 6 back as a profit. To convert Fractional odds to probability there is a simple calculation of Denominator divided by Denominator + Enumerator multiplied by.

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When it comes to gambling, you won’t be able to find two more essential concepts than odds and probability. They are what makes the entire thing work. Odds are used to calculate both the payout a gambler can expect to receive from a winning wager and the implied odds of an outcome happening. Probability is just the likelihood that a given result will occur.

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One essential concept to remember is that while probability and odds are both related and may seem very similar, they aren’t exactly the same thing.

In this guide, we will show you how to convert any format of odds to any other, as well as how to find the implied odds from any type of odds. Decimal odds are the favorite way to express betting lines in Europe. Ultimate guide on how football betting odds work. Calculate your profits on decimal, fractional other odds, convert odds types and learn to read odds.

For example, if you were to bet on odds of, you would have to wager to net a profit of Positive odds represent an underdog, only this time, higher odds mean that the underdog has less chances of winning. Your profits are also calculated in a different manner.

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You bet If you win, you'll get back, including your original So your winnings are Decimal odds of You bet If you win, you'll get back, including your original In order to calculate the profit from any decimal odd, simply multiply your stake by the odd and then subtract your stake from that number. To convert from fractional to decimal odds take the top number in the fraction the numerator, divide it by the bottom number the denominator and add 1.

So 32 becomes Decimal odds allows bookmakers more flexibility with the odds that they display, and if you are interested in learning about betting exchanges such as betfair and matchbook, they are essential to understand. In the sports betting world odds are of critical importance for both bookmakers and punters.

After all they indicate the payout rate of your winning bets and show the anticipated outcome probability for every event. Decimal a.k.a digital and European odds format is fairly popular in continental Europe, Australia and Canada.

Calculating their potential profits using this type of odds, punters get the total amount of money they will get in return, including the stake. How to calculate the implied probability of odds? We all know that bookmakers are a clever bunch, they hire lot’s of people who study every aspect of sports.

Especially in this modern age of the internet, every stat you could ever dream of is only a mouse click away.

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Understanding betting odds is easy with my simple Betting Odds Explained guide. You'll learn what betting odds are and how they work.

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Decimal odds show us how much a winning bet will return, inclusive of our stake. We simply multiply our stake by the odds, to get our total returns. So, if we bet on England to win the World Cup at odds of, we’ll win, which includes our stake. Here are some other examples A bet would return A bet would return A bet would return As you can see, the fractional and decimal odds equal the same they’re just different ways of displaying things.

Which odds should we use for matched betting? When it comes to matched betting. The odds are quite simply the price, they are used to calculate exactly how much you will receive if your bet wins. Generally speaking the odds don’t change no matter how much or little you want to stake on a selection.

There are two main types of odds. There is no monetary difference between the two and no reason to choose one over another. It is vital to know how to convert different betting odds so that you can play with a variety of bookmakers worldwide. In the United States of America, American odds are used, across Europe, Decimal odds are used. To convert a decimal odd of or higher, let’s use as an example The moneyline equals the decimal odds minus 1 times 1 x + + is the American odds equivalent of Decimal odds.

To convert a decimal odd of less than, let’s use as an example The moneyline equals divided by the decimal odds minus 1. 1 Then round the answer off into the closest round number. Is the American odds equivalent of Decimal odds. Fractional to American conversion.

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How Bookmakers calculate odds. Convert Fractional Odds to Decimal Odds.

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4 Probability in Sports Betting. How to convert Fractional betting odds. How to convert Decimal betting odds. How to convert American betting odds. Betting odds allow you to calculate how much money you will win if you place a bet. Understanding the meaning of betting odds is easy, but the most difficult part of this process is knowing whether the odds offered by bookmakers for a particular market reflect the exact probability.

Only time and experience will help you identify if odds shown are higher than the probability of such event. Learn the odds and calculate probabilities are some of the biggest challenges for anyone who is starting in the world of sports betting. Therefore, Betarena is going to teach you some basic formulas to always have at hand in the moment of truth.

There are different types of odds American, Decimal and Fractional. In this article, we have already taught you to better understand the decimal odds more common in bookmakers. This results in a decimal odd of Calculate the winnings. Now that you know how to calculate probabilities and convert them into odds, you probably want to know how much you can win with your bet. In the coin-toss example, it’s enough to make a simple multiplication Your stake X decimal odds.

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Find out how to interpret these types of odds.

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Decimal odds aka European odds, digital odds, or continental odds are popular in continental Europe, Australia, New Zealand, and Canada. These are a bit easier to understand and work with. The total potential return on a stake can be calculated as Total Return Stake x Decimal Odd Number. For instance, one of the renowned betting websites prices several candidates to win the U.S.

Here, we list the decimal odds for the top three candidates and the biggest long shot among the candidates listed by the bookmaker as of March 21. Knowing how to convert odds to probability, or probability to odds can make spotting value prices and bookmaker mistakes EASY! The bookies all construct their books based on percentage probability and understand it fully.

If a lot of bets were taken on the 64 favourite, the price would likely shorten, maybe to 54. The book will now have an over-round of, Horse 4 may not have attracted any financial interest, so to balance the book, and to attract money for it, to level out the liabilities, the price can be pushed out to 92, half a point as the punter would call it, but in percentage terms, the. This is how odds are affected and moved to maintain the "edge" the bookmakers have to have to operate and make a profit.

How Bets Affect Betting Markets.

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Free odds converter calculate between all odds types find implied probability.

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What are the different odds formats how to read. Fractional odds are also known as Traditional or British odds, and there is a reason for that unsurprisingly their are used mainly by UK betting sites and British betting shops. For example, a bet placed on odds would make a profit of units so a bet of 10 will give a player a profit of 22 on top of the original stake.

Indonesian odds are presented in a format that is similar to their American alternatives in that there are positive and negative types. Both types are based on a unit stake. How to Calculate Winnings with Decimal Odds. Decimal odds are also the easiest for working out potential winnings.

You just need to multiply the odds by your stake. For example, Manchester City might be priced at to win the English Premier League. If you bet 10 on that outcome and City win you would get Stake 10 x Odds Winnings. Unlike fractional odds your calculated returns include the original stake. How to Convert Decimal Odds to Fractional Odds.

In soccer a home-draw-away bet is popular. The odds will be listed for each eventuality and the winnings will be the number multiplied by your stake. The decimal odds of a multiple bet is often calculated by multiplying the decimal odds of the individual bets, the idea being that if the events are independent then the implied probability should be the product of the implied probabilities of the individual bets.

In the above case with fractional odds of, the decimal odds are 116. So the decimal odds of the double bet is 116 116, or fractional odds of This represents an implied probability of 1 and multiplying by 4 for each of the four equally likely combinations of outcomes giv. Importantly, unlike decimals odds, Fractional odds show us the possible profit without the stake included.

Calculating Profit [Stake x Fraction]. Each Way Bets Explained How To Calculate EW Winnings. Each Way bets enable punters to cover more places in a horse race, thereby reducing their risk and avoiding disappointment if a selection doesn’t win.

EW betting is popular in unpredictable races such as the Grand National where the chance of selecting the outright winner is relatively low.

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An explanation of how sports betting odds work, how bookies make money, as well as the different formats of odds fractional, decimal and moneyline. The easiest way to calculate potential returns from moneyline odds is to use the following formula when they are positive.

Stake x Odds Potential Profit. If you want to know the total potential return, simply add your stake to the result.

Decimal odds x Initial Bet Total Payout. Betting Example Let’s suppose you bet Rs. On decimal odds of and you win. The math would be as follows 4 x Rs. Another way to look at it is a ratio of losses to wins LossesWins. To calculate your profit, simply divide the numbers and multiply it times your initial bet. Payout Structure If you placed a bet on 31 odds and won, you would win 3 units, plus your initial unit bet for a total payout of 4. Fractional Odds x Initial Bet Profit Profit + Initial Bet Total Payout.

Betting Example So, if you placed a bet of Rs. And won on these odds, you would win’ Rs. And also receive your original bet of Rs.

What do betting odds represent? This article will help you with the first step in developing your own assessments of betting value. Decimal odds are one of the three main formats used by bettors and bookmakers alike. You can arrive at the Decimal odds value for your coin toss choice with the simple equation 1 probability for your chosen outcome.

So the Decimal odds for a coin being heads is 1 certainty divided by the probability of it occurring which we know is, producing decimal odds of At this point you can equally take odds and reverse engineer the implied probability with the inverse of the equation for turning probability into odds odds probability.

I meant how do Sportsbooks calculate alternate runlines. In a Yes No bet, to bet Yes at is the equivalent of laying No at and vice versa. The formula is 1 + price -1 so if the Betfair price is, you get 1 + 1 -1 1 + I assume this is what you are asking. What do you mean by calculate the decimal odds? You have the deciaml odds listed in your question.

Is the deciaml odd for Texas + runs. So if you bet on Texas + runs at it would return for a profit of Sources Free daily sports selections linfographik.com Anonymous 9 years ago.

The betting odds calculator allows you to input your stake odds in American, Decimal, or Fractional formats to quickly calculate the payout for your bets. Legal Sportsbook Offers Reviews. Sports Betting for Beginners Betting Sports Betting Glossary. Mistakes Sports Bettors Should Avoid. How to Win with Action Network Betting Data. How to Manage Your Sports Betting Bankroll.

Moneyline, Fractional, Decimal, Hong Kong, Indonesian and Malay odds explained. Odds of 11 are known as evens’ or even money’. Not all fractional odds traditionally show the lowest common denominator. Perhaps most unusually, odds of 103 are read as one-hundred-to-thirty. Learn to think like a bookmaker! Football Betting Odds Calculation Course How to Calculate Odds Over Under X’ Goals.

Please note that this is an archived post. Here, we describe the edition of our OverUnder 'X' Goals One Response to Understanding Betting Odds Moneyline, Fractional Odds, Decimal Odds, Hong Kong Odds, IN Odds, MA Odds.

How to Place an Accumulator Bet. Calculating Your Accumulator Bet Winnings. The odds for accumulator bets are calculated by converting the fractional odds of each selection into decimals and then multiplying them together. This is not easy to do manually, especially with odds like 17 or 49 from our example above, which are not round numbers.

Welcome to our Odds Calculator page. Here you can calculate your potential winnings before striking a bet with one of our recommended bookmakers. Simply add in the odds for each betting selection along with your nominated stake. You can then click on the Calculate button and it will show you how much you can potentially win with your bet. You can add as many selections as you like, with many readers using the Odds Calculator to work out how much a football accumulator would pay if they predict the correct winning teams.

Decimal odds explained and how to calculate decimal odds every bettor can find example in this video. Decimal odds is very popular among bettors in sports betting and this kind of odds is convenient to calculate bets, especially if place accumulator. How to calculate odds in bettingHindi. Hello everyone, this video explains odds calculation in bet,betfair,betway. Calculate odds herelinfographik.com Check these bookmakers with up to bonus.

How to Read Sports Betting Odds American, Fractional, and Decimal Odds.

This calculator converts odds formats between decimalEuropean, fractional, moneylineAmerican, Hong Kong, Indonesian and Malay formats. The associated implied probability is also calculated.

To use the calculator, simply input the odds in the format of your choosing and press Convert. If you experience any difficulties try refreshing the page. Decimal odds represent the total return from a winning 1 unit bet. A winning 10 bet at decimal odds would return for a profit 50 return. Fractional odds express the net return in fractional form from a winning 1 unit bet.

A winning 10 bet at 12 fractional odds would return for a profit 50 return.

This page is dedicated to explaining how sports betting odds work. This is great for beginner sports bettors that are looking to learn the basics. To convert moneyline odds to decimal, if the moneyline is positive, divide by and add 1. If it is negative, divide by the moneyline amount without the minus sign and add 1. To convert fractional odds to decimal, divide the first figure by the second figure add so 114, then add.

Odds calculators in Bet cards, bet slips, bet coupons. Sports Interaction has an odds calculator in the bet card - just click the odds you want to combine, fill in your stake and boom, your potential winnings are staring at your face.

Change odds format from the bottom left-hand corner of the page. Whichever your betting strategy and the type of bets you're going for, use our free odds calculator to ensure that you know how to calculate odds in sports betting. This sports odds converter is helpful in converting decimal odds to the fractional ones used in UK or the moneyline odds used in US.

Decimal Odds In Sports Betting. Decimal odds are the easiest to calculate compared to other odds types. Bettors just need to take their stake x odds to equal their payout amount. For instance, if you bet at decimal odds, you’d get if your bet won, your stake back, plus your profit of Decimal odds are most popular in the mainland Europe, Australia, and Canada.

Fractional Odds In Betting On Sports. Hong Kong odds are the preferred betting odds of Hong Kong and many Chinese speaking countries. Many point to Hong Kong odds as the easiest and most straightforward to understand regarding odds types. This makes sense because they’re quite similar to decimal odds.

The basic formula for calculating HK odds is Payout Stake x Odds.

Poker Odds - Pot Implied Odds - Odds Calculator. You will notice that I removed your bet when calculating the profit, but left it in when calculating the odds. Although I hate to disagree with AlienGenius and maybe I am misunderstanding him this seems right to me. I would really love everyone's thoughts. Similar Threads for Correctly Calculating Pot Odds - Does Your Bet Count?

I'm not sure how reliable your info is after this. No, I don't know why my text is highlighted either.

Odds Shark’s sports betting odds calculator is a great tool for your handicapping arsenal. Find out what you’d win based on the odds and amount wagered. How to Use an Odds Calculator. No matter the type of bet you’re making, our calculator has you covered. First, you’ll need to enter your odds. The calculator offers four options American, Decimal, Fractional 15 and Implied.

The majority of betting sites offer each odds type, so it’s up to you to decide which you like best. Here at Odds Shark, we use the American style. You can also use this calculating tool for live betting and futures bets. Parlays are more intricate bets. We have a separate betting calculator for those.

The Betting Odds Calculator helps you quickly and easily work out winnings from any combination of bets you can think of. Select your bets, and whether they win, lose or place, selecting the each way odds in the process.

Then place stakes on any combination of bets for your selection and let the app calculate your winnings. Simple, yet effective means to see your potential income. New in Update for WP8 New in Compliance with Nokia Rate My App - Minor bug fixes New in Minor bug fixes New in Added the ability to calculate decimal odds.

Use a bet calculator to work out the returns from any type of bet from singles to complex system and multiple bets. Calculations take into account the stake, odds and type of bet to calculate the return. How to use the bet calculator. The returns from a bet are determined by the stake, odds and result. The most basic bet is a single which is a bet on one event and one outcome. For example, in a Premier League match, the match odds are for a home win, away win and draw.

The three most common odds formats are decimal, fractional and American. You can use the betting odds calculator to make a conversion from one format to another.

To calculate the exact odds on your horse, just subtract the take from the total pool, then subtract the amount bet on your horse to give you the amount of cash to be paid out. Divide that figure by the amount bet on your horse to get the exact odds. This figure will always be rounded off to the nearest dime usually or nickel, as mentioned previously, before the payoffs are calculated. Here is a simple example of win odds calculation Round this amount off to for breakage and you get odds of or, as it would normally be written, which yields a payoff of 5 on a wager of 2.

Since most tracks have a 2 minimum bet, below is a handy chart to look up the payoff for a 2 bet at various odds.

This tool converts odds between decimal, fractional, american, Hong Kong, Indonesian and Malay formats and calculates the associated implied probability. Find all the mathematical formulas to manually convert odds in all the formats. Get your odds with a single click! Odds displayed as fractions show how much you will win on a bet compared to how much you put on it. If you have odds of 21 and stake 1, you'll receive 2 in winnings not including your stake. Also know as moneyline odds, they indicate how much you have to bet to win or, and so on.

If the number is preceded with a "+" sign, then you would risk less than to win a wager worth.

Decimal odds are also referred to as European odds and these are popular at betting sites located in Europe, Canada, and Australia. These odds are easier to understand as you can quickly spot the favorite and the underdog just by looking at the presented odds. The decimal odds amount will indicate how much you will win for every 1 that is wagered and returns will be a total return instead of the profit. These odds are much easier when trying to calculate your return.

With a betting odds calculator, you will enter your bet amount and your chosen odds format. The calculator will then calculate the payout for the bet that is being placed. You can take the time to calculate your own odds and change formats, but most find this to be time-consuming and they want immediate answers.