Q. What is the Bet Basics odds calculator for?
The Bet Basics odds calculator allows you to quickly figure out how much a winning bet will pay out based on the odds provided by the sportsbook. Depending on what region you’re from, the odds will either take the format of American, Fractional or Decimal odds. Thanks to the Bet Basics odds calculator, you don’t have to be a mathematical genius to figure out what this means for your bet, you just have to put the odds and bet amount into the calculator and let us calculate the rest! For a more detailed explanation on the different types of sports betting odds, click here.
Q. How do I know how much I will win from my bet?
Odds are a sportsbook’s tool for indicating the probability of an outcome. In simple terms, the higher the odds, the less chance your bet has of winning, but the bigger the payout will be if it does. The lower odds, the stronger chance your bet has of winning, but the lower the payout will be. To know the exactly what the payout will be, just put the odds of your wager along with the bet amount into our Bet Basics odds calculator.
Q. What are American Odds?
American odds, (also sometimes called ‘moneyline’ odds) are the main odds type used by sportsbooks in the United States. The positive (+) and negative (-) signs displayed with American odds are a means of representing the underdog and the favorite, respectively. The negative sign corresponds to the amount a bettor needs to wager in order to turn a $100 profit, while the positive sign corresponds to the potential profit a bettor can make by wagering $100.
Q. What are Fractional Odds?
Fractional odds are the most popular odds format in the UK and Ireland and involve the sportsbook representing the probability of betting outcomes as fractions. To calculate your profit using fractional odds, all you have to do is multiply the fraction by the amount wagered.
Q. What are Decimal Odds?
In most other regions around the world, decimal odds are the format of choice for bookmakers and gamblers alike. It’s incredibly straightforward to calculate your winning using decimal odds as all you have to do is multiply the amount wagered by the odds. There’s no need to account for your original stake as it’s calculated into your winnings if your bet is a successful one.