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Odds Converter & Calculator: How to Calculate Betting Odds for Free?

How to Calculate Odds?

Last Updated on 12/04/2023

We at Playersbest know that you players want something that can make your betting experience easier and more efficient. There are many different methods you can journey to figure out your betting odds.

But, no tools are as efficient as a betting odds calculator.  A betting odds calculator is a tool that quickly calculates the payout of your bet. Our betting odds calculator is one that many astronauts rely on as a foundational betting tool, and we’ll show you how to use it efficiently.

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Odds calculator

What is a betting odds calculator? – Everything you need to know

A betting odds calculator is a tool that will calculate the pay-out of your bet, no matter the odds format you’re using. It is used frequently by experienced betting players who visit many different gambling sites. Our betting odds calculator operates odds converter technology.

This means it converts any kind of odds into what your potential stake will be in profit. This is useful for gamers who don’t have an understanding of certain odds types. In terms of using our betting odds calculator, it is a simple three-step process.

  1. First of all, you place your stake in the box e.g. you place $20 on a game. You can choose your bet type. Single, accumulator, double, treble and so on.
  2. You choose your odds format. Say you’re using decimal, you input decimal and then put in 2.5. This would be equal to 6/4 in fractions, and +150 in American Odds.
  3. If you were betting on horseracing, you also have the option to choose rule 4. The rule 4 is a deduction made to winning bets, when a particular horse is not running. After that, choose your outcome – win, loss or draw – and then you hit calculate.
  •  Let’s bet $20 on a horse called Astrowalker. You put $20 in the stake box, place your 2.5 decimal odds in the box, and if necessary, choose rule 4 if a horse has gone missing. Then, choose ‘win’ on our box, and sit back, and watch the stars as you hit the calculate button.
  •  As quick as the speed of light, you’ll have the results of your odds convertor. Then, you can fly over to your results, and you’ll see you get a return of $50. Our betting calculator also shows you how much profit you make off your stake, in this case, $30.

Why do you need a betting odds calculator? – Time saving and easy to understand

Easy to use

Our betting odds calculator is one of simplest betting calculators used in the field, and learning how to use it takes only a few moments. Once you follow the three step guide above, you’ll be able to use our betting odds calculator for any betting site. As long as you put in the exact right odds and put in a stake, you’re guaranteed to get an accurate return rate. Go on over to our sports betting calculator, and try it out for yourself. It only takes a little practice for future reference.

Time efficient

All you betting players have been at this point at some time. You’re a bookmaker, you’ve decided to put a bet down on a football game or a horse race, and you’re doing calculations in your head. You take out the calculator and you’re scrambling to try to figure out the profit you’ll make, the potential return you’ll make with different factors.

Bottom line is that it is a pain for most you players. Using a betting odds calculator and odds converter reduces this whole painful process to a few moments. Put in all the necessary figures you need to, and you’ll have a return and profit figure within a few moments.

Odds conversion table

Our bet payout calculator doesn’t just give you a betting odds calculator with no information on how to understand it, or the science behind it. You take a look at any of our betting calculators, you’ll see something called an odds conversion table. The odds conversion table essentially displays to you all the popular odds formats, and shows how they convert from format to format.

Here’s an example. A popular fractional odds figure would be 4/9. Our odds converter shows you that 4/9 converts to a decimal odds of 1.44, and American odds of -225. This will help you players become familiar with all three kinds of betting formats, and serves as a great add-on tool for our betting odds calculator.

Comprehensive

Our betting odds calculator is one of the most comprehensive betting calculators out in the betting field. Most betting calculators will only provide simple solutions, however, our betting odds calculator is completely complex. You can use them for multiple bets, full cover bets, or even each-way bets, we have all corners covered.

We also provide the win probability for certain odds types, so you know to place your stakes on the right bet. A decimal odds of 1.2 is known as the most successful implied probability, 83.33%. A decimal odds of 1.91, would have an implied probability of 52.38%. Having these additions to our betting calculator makes it the best bet you can make today.

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Why you need to use a betting odds calculator for horse racing. – simplifies your odds converter experience

A betting odds calculator is useful for any kind of bet. But, most players rely on it when it comes to horse racing. Horseracing can be a lot more technical and complex than most other sports, so it’s important you know you can come to our PlayersBest sports betting odds calculator to have a much easier experience when betting on horseracing. Many aspects you have to take into account are:

Options and selections

Out of all the sports you can use our sports betting odds calculator on, horse racing is one of the most technical and comprehensive. With selections such as Rule 4, Dead Heat and Trixie bets, most of these terms and conditions are most commonly used when horse racing. Our betting odds calculator not only provides all of these options, it simplifies and explains them all so you can understand them all, and use them all if you need to.

Consistent playing

When racing season is on, you have no shortage of races to choose from. With races on every half hour, and 16 horses racing on every single race, you could be glued to your computer all day making sure you rack up a profit.

Using our betting calculator will have prime use when you’re betting on horseracing, and gives you the opportunity to bet as much as you like, without having to worry about doing the maths behind every one of your many stakes. You can travel from each horseracing site and get an easy figure for what your return would be once you rely on our betting odds calculator

Odds

Because there are so many horse races to choose from, and you have the opportunity to bet on so many different gambling sites, the odds are going to be great. Your average favorite on any horse racing can range from 2/1 to 10/11 in fractional odds – which will lead to serious profit, and gives you an implied probability ranging from 52.38% to 33.33%.

In terms of odds that are happening on a consistent basis several times a day, these are odds that can accumulate to a serious profit in the long run for the stars. Using our odds converter and our betting odds calculator for each of these odds will inform you exactly what your chances are for winning with every single stake you make, and make sure you don’t make unnecessary losses that would be careless.

Top tips for using the calculator for the first time – accumulate and simplify

Keep it simple

When starting off, don’t try doing anything too complicated. Leave out any of the rule 4s, dead heats, Trixie bets and all of these kinds of bets. Get a grasp on our betting calculator first, make a few simple bets on a couple of horses, and confirm that our betting odds calculator will live up to the reality.

Use different odds

Although you want to keep things simple, you’re trying to learn the subtleties of our betting calculator. Use odds you’re not comfortable with so that you understand them better. If you’re used to using decimal odds, try your hand at fractional odds and American odds. Get a hang on all of the odds, because many bookmakers won’t provide all of the odds types available, so you’ll have to rely on our odds converter to get yourself through the stars.

Take advantage of accumulators

Many great bookmakers offer some accumulators (multiple stakes that add up to one big return). It can be difficult to determine if an accumulator can be successful without any information. But, now you have our betting odds calculator, you will be able to determine the level of success your accumulator will have. Use your odds converter, and you can orbit the implied probability figures to see how successful your accumulator is.

Other calculators we offer

  • Parlay calculator – A parlay calculator is an odds calculator often used for parlay, or accumulator bets. The parlay calculator operates similarly to our betting odds calculator, only it focuses solely on parlay bets. The parlay calculator shows you the amount of potential payout you could make from the number of bets you made across the parlay, and the value of each bet you’re making.
  • Odds value calculator – The odds value calculator tool we offer is a very valuable tool for experienced users out there looking for a quick solution to a number of different bets. The odds value calculator simply tells you the value of the profit you could expect to get based on the probability of that occurring. For example, say if you wanted to make a $100 wager, with American odds of -200 and with a probability of success of 80%. You’ll find out that your bet has an expected profit of $20.
  • Betting odds converter – Our betting odds converter is another great tool that can be linked up with our betting odds calculator. The betting odds converter does exactly what it says on the tin – it converts betting odds to the format you want to have it in. It’s a great tool to link with our betting odds calculator – if you want to figure out odds in decimal and you’re stuck with American odds, simply use the betting odds converter to get the currency you want.
  • Hedging calculator – The hedging calculator is used mostly for trading, but can easily be used in line with our betting odds calculator on bookmakers too. The hedge calculator is a risk management tool – it works out how much you need to lay to guarantee a profit or reduce a loss. It’s a great tool to use if you want to do a lot of each-way bets – this can cover how much you want to lay, to balance out how much you want to bet to make sure you minimize your loss, and maximize any potential profit by covering every bright corner of the betting stars.
  • Sports betting hold calculator – Our sports betting hold calculator is more of a strategic calculator, but it still will be very useful if you want to become a full-time betting astronaut wandering the gambling stars. A sports betting hold percentage is the margin the sportsbook takes on both sides of the game. This determines the percentage of time you would need to be correct to make money long term.
  • Spread to moneyline converter – The moneyline is essentially betting on what team you think you can win. The spread to moneyline converter allows you to see the moneyline across a large spread bet.

Conclusion – The best tool you can find

To wrap up, our betting odds converter is a great tool for any player without the right knowledge of how odds converters work. It is an efficient tool that simplifies putting in your stakes, and your odds. It gives you an understanding of odds, and different betting types. Our betting odds calculator works best with horse racing, but it can be used across any sports. So, what are you waiting for? Install this betting odds converter today!

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Betting odds converter FAQ

❓How do you calculate betting odds?

When it comes to betting odds, there is actually a simple way to calculate betting odds, rather than complexities like many people do assume. Betting odds can be displayed in a variety of formats, the most popular of which are fractions, decimals and the American odds format system. These odds can be easily exchanged and converted if you know the right methods. For more information about betting odds and their calculations, check out our betting odds calculator.

🏈How much money would you win if you bet $100?

That really depends on the odds you are betting on, as well as the kind of bet you are placing your stake on. Odds are determined by the likelihood of a certain team winning or losing, and with odds, there comes an implied probability on how these certain odds will see success for a better. If you want more information about betting odds and how $100 affects certain odds types, check out our odds conversion table at sports betting odds calculator.

👀 Can you lose money on a winning bet?

This is hard to determine, as it depends on which bookmaker you use, the odds you use and various other factors that can be specific to a certain bookmaker. One way to make sure you don’t lose money is to focus on using our betting odds calculator, which is designed to give you clarity, and make sure you have a clear understanding of all the odds so you can minimize your losses. To visit our calculator and familiarise yourself with it, check out our sportsbetting odds calculator.

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