A good bettor knows the sports they bet on by heart, but a great bettor also knows how to employ various tools to get the most out of their bets and the sportsbooks they play at. One such tool is the betting odds calculator, an easy-to-use tool that shows your potential winnings and helps you manage your betting budget. Learn how it works and try our betting calculator below.
Betting Odds Calculator
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What is an Odds Calculator?
A sports betting odds calculator is a tool for quick and simple calculations of players' winnings at betting sites. It is a completely free tool available right at this very page, requiring no downloads or special software to use.
The tool is compatible with every betting odds format that’s most commonly used online as well as different bet types. Using our calculator, you can immediately check whether the bet you were eyeing is worth the punt and how much you can win depending on the wager amount.
How Does Betting Odds Calculator Work?
The simplest way to use our betting odds return calculator is to input your wager and odds of your bet. Then, the calculator will display how much you can potentially win if you were to make that bet at one of the best betting sites.
But, sports betting is more nuanced than that. You might prefer to make accumulator bets or have an each-way bet in your selection instead of a simple single bet.
Here’s how to use the betting odds payout calculator:
1. Choose the bet type from the dropdown menu.
2. Is the bet each way? Select from the menu and then choose how you’re making the each-way bet.
3. Choose the number of selections if you’re placing a combo bet.
4. If betting on a horse racing event, select whether you want to show the Rule of 4.
5. Select whether you’re staking per bet or a total amount, then enter your stake amount.
6. For each of your bets select the outcome you’re betting on and enter the odds from the sportsbook.
7. In case you’re placing an acca bet, choose whether your bet can fold. There will be more bet-specific settings here, depending on what you’ve selected.
With the betting calculator set up and odds entered, you’ll get three pieces of information at the bottom: total outlay (the amount you’re wagering), total return, and expected profit if your bet wins.
Example
Let’s say that, among various sports to bet on, you picked a set of three Premier League matches in a combo bet. In one match you’re betting at a 2.5 goals total at 1.67 odds, in the second match you bet on a draw at 3.11, and in the third match your bet is that the home team will win at 1.42 odds.
So, you’ll start by selecting a Treble bet type, each way is set to No, and you also don’t enable Rule of 4 as it’s not a horse race. Your total combined stake is, for example, €15. Then, you enter the aforementioned odds in three separate rows and set each outcome to Winner. Again, this will be the most common option unless you’re betting on horse racing.
With everything entered, you’ll finally get this information:
- Total outlay: 15 (1 bet of €15.00)
- Total return: €110.63
- Total profit: €95.63
Why You Need to Use a Betting Odds Calculator
The biggest benefit of using a betting odds calculator is the ability to instantly calculate the winnings. You don’t have to make calculations on paper or in your head, just input the odds and stakes in appropriate fields and you’ll instantly get all the information you need to decide whether to place that bet or not.
Since the calculator is compatible with several bet formats, there’s no need to resort to a betting odds converter to convert the site’s displayed odds to your preferred format. It’s also capable of calculating odds for different bet types like accumulators, each-ways, and even lucky 63 if you’re into these big bets.
And it’s all completely free! All you need is a device with internet access and, since you’re already at this page, you can immediately start using our odds calculator to plan your next big bet. No need to download or install anything, the tool works straight from this page, so make sure you bookmark it in your browser.
5 Tips for Using a Sports Betting Odds Calculator
Last, but not least, here are some tips on getting the most out of our betting calculator tool:
- Start with simple bets: Single bets and smaller accumulators should be your first choice when getting familiar with the betting odds probability calculator. Observe how it all works before you move on to more complicated bets.
- Double-check entered data: Verify that you’ve entered the correct odds, selected the correct bet type, and set the odds format to the one you’re playing in. It’s easy to mistype or enter the data into the wrong field and get completely off results.
- Keep track of the calculated results: The calculator doesn’t keep a history of the odds you previously entered. So, if you’re comparing odds or want to calculate the odds for different bets, make sure you’ve copied (or written down) the results.
- Read the tooltips: The betting odds calculator you’ll find here at AskGamblers has a lot of tooltips to help you understand its features. Just hover your mouse over the (?) symbol to read how everything works.
- Select special features: Betting on a horse race? You’ll have a slew of optional features, especially if you’re making a more complex system bet.