Betting Odds Calculator

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Betting Odds Calculator

Use this calculator to convert betting odds between different formats, calculate the implied probability of an outcome, and determine your potential payout and profit based on your stake.

Decimal (e.g., 2.50) Fractional (e.g., 5/2) American (e.g., +150 or -200)

Implied Probability: —

Potential Payout: —

Potential Profit: —

function calculateBettingOdds() { var stakeAmount = parseFloat(document.getElementById('stakeAmount').value); var oddsFormat = document.getElementById('oddsFormat').value; var oddsValueInput = document.getElementById('oddsValue').value; // Clear previous results document.getElementById('impliedProbability').textContent = '–'; document.getElementById('potentialPayout').textContent = '–'; document.getElementById('potentialProfit').textContent = '–'; if (isNaN(stakeAmount) || stakeAmount <= 0) { alert('Please enter a valid stake amount greater than zero.'); return; } var impliedProbability = 0; var potentialPayout = 0; var potentialProfit = 0; var oddsValid = true; switch (oddsFormat) { case 'decimal': var decimalOdds = parseFloat(oddsValueInput); if (isNaN(decimalOdds) || decimalOdds < 1) { alert('Please enter a valid Decimal Odd (e.g., 2.50). Must be 1.00 or greater.'); oddsValid = false; } else { impliedProbability = (1 / decimalOdds) * 100; potentialPayout = stakeAmount * decimalOdds; } break; case 'fractional': var parts = oddsValueInput.split('/'); if (parts.length !== 2) { alert('Please enter Fractional Odds in the format N/D (e.g., 5/2).'); oddsValid = false; } else { var numerator = parseFloat(parts[0]); var denominator = parseFloat(parts[1]); if (isNaN(numerator) || isNaN(denominator) || denominator === 0 || numerator 0) { // Positive American odds (+150) impliedProbability = (100 / (americanOdds + 100)) * 100; potentialPayout = stakeAmount * (americanOdds / 100) + stakeAmount; } else { // Negative American odds (-200) impliedProbability = (Math.abs(americanOdds) / (Math.abs(americanOdds) + 100)) * 100; potentialPayout = stakeAmount * (100 / Math.abs(americanOdds)) + stakeAmount; } } break; default: alert('Invalid odds format selected.'); oddsValid = false; break; } if (oddsValid) { potentialProfit = potentialPayout – stakeAmount; document.getElementById('impliedProbability').textContent = impliedProbability.toFixed(2) + '%'; document.getElementById('potentialPayout').textContent = '$' + potentialPayout.toFixed(2); document.getElementById('potentialProfit').textContent = '$' + potentialProfit.toFixed(2); } }

Understanding Betting Odds

Betting odds are a fundamental part of sports betting and gambling, representing the likelihood of an event occurring and determining the potential payout for a winning bet. They are essentially a numerical expression of probability, set by bookmakers, and can be displayed in various formats.

Different Odds Formats Explained

There are three primary formats for displaying betting odds, each with its own way of expressing probability and potential returns:

1. Decimal Odds (European Odds)

Decimal odds are perhaps the easiest to understand for calculating potential payouts. They represent the total return for every $1 (or unit) wagered, including your initial stake. For example, if the odds are 2.50, a $10 bet would return $25 ($10 x 2.50), meaning a $15 profit.

  • Calculation: Potential Payout = Stake × Decimal Odds
  • Implied Probability: (1 / Decimal Odds) × 100%
2. Fractional Odds (British Odds)

Commonly used in the UK and Ireland, fractional odds (e.g., 5/2, 10/1) represent the profit you'll receive relative to your stake. The first number (numerator) is the amount of profit, and the second number (denominator) is the stake required to win that profit. For example, 5/2 means you win $5 for every $2 staked. Your original stake is also returned.

  • Calculation: Potential Payout = (Stake × (Numerator / Denominator)) + Stake
  • Implied Probability: (Denominator / (Numerator + Denominator)) × 100%
3. American Odds (Moneyline Odds)

American odds are prevalent in the United States and are displayed with either a plus (+) or minus (-) sign. They indicate how much you need to bet to win $100 (for negative odds) or how much you win for every $100 staked (for positive odds).

  • Positive Odds (e.g., +150): You win $150 for every $100 staked.
    • Calculation: Potential Payout = (Stake × (Odds / 100)) + Stake
    • Implied Probability: (100 / (Odds + 100)) × 100%
  • Negative Odds (e.g., -200): You need to bet $200 to win $100.
    • Calculation: Potential Payout = (Stake × (100 / |Odds|)) + Stake
    • Implied Probability: (|Odds| / (|Odds| + 100)) × 100%

What is Implied Probability?

Implied probability is the conversion of betting odds into a percentage, representing the bookmaker's assessment of how likely an event is to occur. It's important to note that implied probability often sums to more than 100% across all outcomes in an event (known as the "overround" or "vig"), which is how bookmakers ensure a profit margin.

Understanding implied probability helps you assess the value of a bet. If you believe an event's true probability is higher than the implied probability offered by the odds, you might consider it a value bet.

Potential Payout vs. Potential Profit

  • Potential Payout: This is the total amount of money you will receive if your bet wins. It includes your original stake plus your winnings.
  • Potential Profit: This is the net gain from your winning bet, which is the potential payout minus your initial stake.

How to Use the Betting Odds Calculator

  1. Enter your Stake Amount: Input the amount of money you wish to bet.
  2. Select Odds Format: Choose whether your odds are in Decimal, Fractional, or American format.
  3. Enter Odds Value: Input the specific odds for your chosen format (e.g., "2.50", "5/2", "+150", "-200").
  4. Click "Calculate Odds": The calculator will instantly display the implied probability, your potential total payout, and your potential profit.

Examples:

  • Decimal Odds Example:
    • Stake: $10
    • Odds: 2.50
    • Implied Probability: (1 / 2.50) * 100% = 40%
    • Potential Payout: $10 * 2.50 = $25.00
    • Potential Profit: $25.00 – $10 = $15.00
  • Fractional Odds Example:
    • Stake: $10
    • Odds: 5/2
    • Implied Probability: (2 / (5 + 2)) * 100% = (2/7) * 100% ≈ 28.57%
    • Potential Payout: ($10 * (5 / 2)) + $10 = $25 + $10 = $35.00
    • Potential Profit: $35.00 – $10 = $25.00
  • American Odds Example (+):
    • Stake: $10
    • Odds: +150
    • Implied Probability: (100 / (150 + 100)) * 100% = (100/250) * 100% = 40%
    • Potential Payout: ($10 * (150 / 100)) + $10 = $15 + $10 = $25.00
    • Potential Profit: $25.00 – $10 = $15.00
  • American Odds Example (-):
    • Stake: $10
    • Odds: -200
    • Implied Probability: (200 / (200 + 100)) * 100% = (200/300) * 100% ≈ 66.67%
    • Potential Payout: ($10 * (100 / 200)) + $10 = $5 + $10 = $15.00
    • Potential Profit: $15.00 – $10 = $5.00

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