Odds Calculator and Formats Explained
The biggest part of attempting to win money while betting is being able to understand and properly analyze the odds presented to you. The question most bettors have concerns just how they go about doing that. The quick and simple answer is that it is achieved through the use of calculators. The line or odds placed on a game is the basis on which bettors have placed their wager. The lines are created by odds makers who have examined the strengths, weaknesses and recent success of each participant.
This tool will allow you to convert between American, Decimal, and Fractional odds formats.
Simply select the starting odds format, enter the odds in the specified format, and click Convert Odds to do the conversion.
Click on the image to view the Odds Calculator
Odds Calculator Popularity
Over the years, sports betting has grown to all new heights. As this has occurred, the ways in which we seek to calculate the results has grown as well. Each sport has its own set of factors that have a definite impact on the outcome of the contest or race. Furthermore, each sport has formed various measures and calculations, specifically designed to help predict the outcome. This is directly related to the increase in money wagered and bettors wagering on these sports. More and more bettors are using odds calculators to increase their chances of showing a profit from their wagers.
The use of a betting calculator is highly recommended to any bettor who wishes to have that extra edge. With the plethora of data floating around out there, today’s bettor simply cannot keep up with updates as they happen. This can make it difficult for a bettor who relies on trends, opinion, emotion, and personal preference to make their wager. An informed bettor knows it is far more important to follow the statistics of each participant involved in the match or race.
A format converter is a fairly simple tool that will allow you to take odds or a line in any form and convert into a result you can more easily comprehend. For instance, if you have the odds in a decimal form, and want to convert it to an American format, simply enter it into a format converter and get the results. You could also enter in the particular dollar amount you wish to wager, and see the exact amount you would receive if you were to win. Most online bookmakers offer three basic odds formats:
• US Style Odds- This is the most common format you will see and is listed as either a negative or positive number. When a negative number is listed, that is the amount you must wager to win $100. For example, odds of (-180) dictate that you must wager $180 to win $100. Conversely, odds of (+150) would mean you could wager $100 for a net win of $150.
• Decimal Style Odds- This type of format is more popular outside of the United States, and will be listed as a positive number. That number will always be greater than 1, and usually factored out to at least two decimal places. This number will represent the amount of money you would receive if your bet is successful (including the wager itself). For example, odds of (1.80) dictate that you would receive $1.80 for every dollar you have wagered.
• Fraction Style Odds- This format is more frequently seen in Ireland and the UK and feature a fraction which is intended to indicate the payout amount in relation to the initial stake. Fractional odds listed as (1/2) mean that the payout is $1 for every $2 wagered. Conversely, odds listed as (2/1) dictate that you will be paid $2 for every $1 bet. These two examples would be the equivalent to US odds listed as -200 (for 1/2) and +200 (for 2/1).
A money-line wager is a wager placed on a team to win, without a point spread coming into play. A money-line is either presented as a negative number or a positive number, depending on whether the team is a favorite or underdog. A money-line listed as (-125) dictates that you must wager $125 in order to win $100. A money-line can be turned into an actual probability by using any one of a number of tools available online. They will allow you to enter either the money-line itself or a perceived probability percentage for the team to win, and from that you can decipher whether you have an edge by betting one side or the other.