Use this calculator to understand your potential pay out by adding the money you want to bet and the odds of your bet.
This calculator can help you determine your potential winnings based on the amount of money you plan to bet and the odds of your bet.
Here is a step-by-step guide on how to use the calculator
Bet Stake: Enter the amount of money you plan to bet.
Bet Type: Choose whether you want to place a single bet or a parlay bet. A single bet is a straightforward wager on the outcome of a single event. A parlay bet involves combining multiple bets into a single wager.
Your winnings are dependent on all of the bets in the parlay winning.
Next, you can enter only one type of odds to use the calculator.
American Odds: American odds can be positive or negative and represent the amount of money you would win based on a $100 bet.
Watch this guide on how odds work to understand these numbers.
For example, if the odds are +150, you would win $150 on a $100 bet. If the odds are -200, you would need to bet $200 to win $100.
Decimal Odds: Decimal odds represent the total amount of money you would win, including your original stake, for a successful bet. For example, if the odds are 2.50, you would win $250 for a $100 bet.
Fractional Odds: Fractional odds represent the amount of money you would win relative to your original stake. For example, if the odds are 3/1, you would win $300 for a $100 bet.
Implied Odds: Implied odds are the estimated odds of an event happening based on the betting market.
Once you have entered the odds, the calculator will calculate your potential winnings and payout.
The win amount represents the amount of money you would win, excluding your original stake, while the payout represents the total amount of money you would receive, including your original stake
Why should you use a betting calculator?
Using a sports betting calculator is important when betting on sports for several reasons:
- Accurate calculations: A sports betting calculator provides accurate calculations and removes any margin of error that could be introduced by manual calculations.
- Better understanding of odds: Understand how different odds formats work and how they impact your potential winnings.
- Improved betting strategy: Analyze different betting scenarios and make informed decisions about your bets. For example, you can compare the potential winnings of a single bet versus a parlay bet and choose the option that offers the best return.
- Increased confidence: Have confidence in the bets you place. Knowing exactly how much you stand to win or lose can help you make more informed decisions and reduce the emotional impact of betting.
- Better budget management: Determine the potential winnings of your bets and manage your betting budget more effectively. You can decide how much you want to bet, based on the potential winnings, and avoid overspending or losing more money than you can afford.
Overall, a sports betting calculator is an essential tool for anyone looking to place sports bets more effectively and make more informed decisions.
A useful tool for generations
The exact history of betting calculators is unclear, but it is likely that the first betting calculators were created in the late 20th century as computers became more widely available and accessible. These early calculators were likely basic programs that could calculate the potential winnings of a bet based on the odds and the amount of money being wagered.
The first widely used betting calculators were likely created in the early days of online sports betting. As the internet became more widely available, online sportsbooks and betting sites began offering betting calculators to help customers determine their potential winnings and manage their betting budgets.
It’s important to note that the use of betting calculators has evolved over time. Today, betting calculators are sophisticated tools that can provide detailed analysis and help bettors make more informed decisions. They are widely used by both novice and experienced bettors, and are considered an essential tool for anyone looking to place sports bets more effectively.