A moneyline bet is more common in the USA, and is a wager made on who will win the game or event, irrespective of point spread. Being able to calculate how much a bet returns for any given stake is one of the basics of betting and our Bet Calculator simplifies this process for bettors. A bet can be broken down into two elements; the Stake – how much you risk, and the Payout – your potential return including your Stake. Calculate your sports bet returns for Accumulator, Lucky 15, Patent, Round Robin and 24 other bet types, with more settling options than any other online bet calculator. Let’s pretend the Miami Dolphins are -120 favorites to win this Thursday game.

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Odds Converter Calculator

All major sportsbooks accept bets for NHL playoff action. Check out our list of detailed sportsbook reviews to michaelleadingham find one that works best for your betting preferences. You can bet NHL playoff odds in most online sportsbooks, especially if they cater to Canadians.

Standard Error And Confidence Interval Formula For Odds Ratios

Also for exotic wagers, the payouts are calculated differently. Once the house takes its cut, typically 15%, the rest is divided between the bet winners. Most bookmakers use their own teams to calculate odds based on various criteria, from the location of the match and the weather, to player absences or injury risks. Odds change quickly, as bookmakers update them while events are in-play.

A fractional listing of 6/1 (six-to-one) odds would mean that you win $6 against every $1 you wager, in addition to receiving your dollar back (i.e., the amount you wagered). In other words, this is the ratio of the amount won to the initial bet, which means that you will receive your stake ($1) in addition to the profit ($6), resulting in a total payout of $7. Therefore, if you stake $10 at 6/1, you get a total payout of $70 ($60 profit + $10 stake). The three main types of betting odds are fractional odds, decimal odds, and American odds.

How To Calculate Poker Odds

Decimal odds represent the amount of money you win for every $1 bet. And Fractional odds are the ratio of the amount of money won to the amount of money wagered. You would type -110 in the American Odds section to see how much you’d win based on the amount wagered. If you believe the combined score for both teams will be 105 points or more, you would bet the OVER. If you think the combined score for both teams will be 104 points or less, you would bet the UNDER.

The basic calculation is the same for each odds format. Sports betting sometimes seems to have a lot in common with certain parts of mathematics. Calculating your total winnings and the correct bet can sometimes lead to many calculations. Bookmakers.eu has introduced a feature that helps to calculate the odds on several types of bets. For example, easily calculate the decimal odds to fractional, or vice versa, with our odds calculator.

Money Line Calculator Implied Probability

Underdogs cover point spreads just about as often as favorites. Again, a +EV bettor needs to consider the value assigned to both underdogs and favorites, then determine if they see a discrepancy between how they weigh the teams and how the book does. That being said, people pay far more attention to teams at the top of their league than those at the bottom, and betting dollars inherently flow toward the top because of this. But that means that underdogs can sneak away extra value if bettors take the time to weigh their worth as the masses fawn over the heavy favorites. From there a bettor can make a +EV bet by not simply predicting if a team will win, lose or cover, but weighing the likelihood such an occurrence happens against the probability given by the book.

If you wanted to bet on team A, for each $760 you wagered you’d make a profit of $100, meaning that you’d get a total of $860 back. Odds On & Odds Against– Two of the key terms that you’ll hear when it comes to betting odds are ‘odds on’ and ‘odds against’. These terms refer to whether a price is greater or lower than evens. Any price above evens is known as odds against, while anything below evens is odds on. All the major online bookmakers will shows their odds as both fractions and decimals so it’s important that you understand just what they are showing and how to switch between the two.