Gambling Odds Calculator
The Gambling odds calculator allows you to input your stake & odds in Money Line, Decimal, or Fractional formats to calculate the payout for your bets quickly.
Gambling Odds Calculator
Why are Betting Odds Important?
It’s crucial to understand the payout you’re receiving on a bet. The odds provided by a sportsbook are directly linked to the probability of that outcome occurring.
What are American Odds?
American Odds are the default odds at American sportsbooks. These odds are based on winning $100 for a given bet.
Betting a Favorite: The odds for favorites will have a minus (-) sign, representing the money you need to risk to win $100.
Betting an Underdog: The odds for underdogs will have a plus (+) sign in front, and represent the money you can win for every $100 risked.
For example, If you’re betting on Dustin Poirier at -125 against Conor McGregor, that means Poirier is a slight favorite. You need to risk $125 to win $100 on Poirier. If he wins, you profit $100 and get your original $125 back.
Implied Odds and True Odds.
It’s important to understand certain concepts when you’re betting on MMA. Two important concepts are implied odds and true odds. Knowing these can help you make more informed bets that have good value.
The implied odds of a bet are calculated by converting the offered odds of a sportsbook into an implied probability of winning. In addition, you can use the odds calculator to do this.
True odds, on the other hand, are the odds that you give to a certain outcome. To calculate true odds, you need to use predictive models to determine what you think a certain bet’s win probability is after you handicap the game or situation. However, true odds are subjective, and there is no concrete “true probability” for an outcome.
If the true probability of a bet’s win probability is greater than the implied probability, then that is a great bet. In conclusion remember, handicapping is key to determining true odds and making smart bets.