When positive, American odds express the number of units that can be won from a 100 units wager. Note that +100 and -100 are both equivalent to decimal odds of 2.00. To calculate what margins or payouts a betting site charges or offers, just run the calculations in the widgets above.

Sports Odds

At Houdini Predictions check there are a lot of free predictions that are on offer. Each of the high-quality football betting predictions that are offered is presented with current odds. But as a punter, you may want to see how those odds are presented in different formats. An online betting calculator can help to make those conversions quick and easy. If you’ve used our sports betting odds calculator before, you must have noticed how the figure changes when filling out one textbox. That’s because the calculator uses math to convert the odds you provide into other formats.

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A moneyline bet means bigger payouts on the underdog but a better chance of winning on the favorite. For those sportsbooks that don’t provide odds in more than one format, using an odds converter to convert betting odds is an option available with BMR. Location dictates what format a sportsbook will default to naturally.

What Do Betting Odds Represent?

Below we have a bet payout calculator, and information about the different types of wager. A parlay bet is where you bet on multiple games similar to a double/treble but often in a much broader spectrum. For example if there are six games in the 1PM EST window on an NFL gameweek and you wanted to bet every single game on the over/under line – you could but all six have to come in.

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Therefore, if you bet $100 on the Pittsburgh Penguins, you would receive a payout of $270 if they win. Keep in mind that this includes your initial stake, so your net profit would be $170. Luckily, you can calculate odds on your own, which will allow you to make smarter bets. Even though there are a few different types of odds, you can easily use your mastery of one to understand the others. In the casino gaming world, there are what has been come to be known as ‘advantage players’.

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Let’s use a hypothetical tennis match between Dominic Thiem and Alexander Zverev as an example of how you can use probability to your advantage. The Ladbrokes Betting Calculator could not be any easier to use. All you need to do is select either Decimal odds, Fractional odds or Moneyline odds by clicking on their tab at the top of the calculator. When I decided to write this Betting Odds Explained article I wanted to make sure I covered all the type of odds in betting.

Our poker odds calculator allows you to simulate a poker hand and see the likelihood that you’ll win. It calculates the odds of every possible outcome in seconds, giving you an edge over other players and stopping you from making crucial mistakes. Most sports betting sites have functions to calculate your potential winnings in real time. If not, there are sports betting calculators that you can use to work out your potential profits if you don’t feel comfortable doing so in your head. It’s important to know how odds work and how to read sports betting lines, as online sportsbooks will display odds differently, based on the sport and location you’re betting on.