Using this Calculator

There are eight total fields on this calculator, though you only need to fill out two, and the rest will auto-populate.

• Bet Amount: The size of your bet. We display it in dollars, though you can really consider it any unit of you'd like.
• Bet Type: Single bet vs. parlay. If you change it to parlay, it will load a slightly different interface.

Now, you only need to fill out one of these four fields to populate the rest of the calculator. If you enter the American odds, the rest of the odds types will be filled out, plus the payouts.

• American odds: American odds are centered around $100. A $100 bet at +120 pays $120. A $140 bet at -140 pays $100. You can scale the increments up and down, but the math will work the same.
• Decimal odds: Decimal odds represent the total return of your bet, including what you risked, for every dollar wagered. So 2.2 is +120 in American odds, because you return your $1 and profit $1.2 for every dollar risked. Anything less than 2.0 is what we'd consider
• Fractional odds: Just multiply your bet amount by the fraction to get your payout. So a $10 bet at 9/1 odds will win you $90. A $10 bet at 5/7 odds (-140 in American) will pay you $7.14.
• Implied Odds: If you have the probability of something and want to get the odds, you can enter it that way. Say you want to know the American odds of a 50/50 coin toss -- enter 50% in the implied probability box, and you'll get +100.

Lastly, you'll get the "to win" amount and the total payout at the bottom. These will auto-populate, and you can't edit them. This is the money you stand to win from the bet you entered.

• To win: This represents your profit from this bet using the amount you bet, and the odds you entered. So if you put in $10 at +110 odds, your "to win" amount would be $11.
• Total Payout: This is the "to win" amount, plus whatever you risked. So a $10 bet at +110 would pay $11, plus your $10 back, for a "Total Payout" of $21.

True Odds vs. Implied Odds

When you decide to bet on something, it is important to have a grasp on a few things. These are listed below:

• What are implied odds?
• What are true odds?

Implied odds and true odds are important in determining if you are making a bet that has good value. You can use our odds calculator above to calculate the implied odds of a given bet as long as you know the odds of the bet. Implied odds are the conversion of a sportsbooks offered odds into an implied win probability. A spread bet in football is normally offered at -110 on both sides of the bet. This gives both outcomes a win probability of 52.38%. The implied probability of this spread bet winning would be 52.38%

True odds are the odds that a bettor gives a certain outcome to happen. Let's use the above bet of -110 for both outcomes on a NFL spread bet. We know that both outcomes have an implied probability of 52.38%. If that same outcome has a true probability of 52.38% or higher, then you would want to take that bet. This seems easy, but how do you find true odds? Essentially, true odds are subjective. There is no concrete, “true probability” for an outcome. However, one person can calculate true probability by using predictive models. This is where handicapping comes into play. True probability is what you think a certain bet’s win probability is after you handicap the game/situation. If true probability `>` implied probability, that is a good bet to take.