Quick facts about betting calculators
- Sports betting calculators can help bettors improve decision-making.
- Calculators can lead to quicker, more efficient choices.
- PlayersBest offers six sports betting calculators.
- The calculators are for research purposes only and do not guarantee winnings.
Types of online sports betting calculators
Without wasting time, let’s look at the various types of sports wagering calculators available at PlayersBest and review how they function. Check them out below:
Implied Probability Calculator
With an Implied Probability Calculator, you can convert odds into the percentage likelihood that the event will occur. In other words, the tool helps reveal whether the sportsbook’s rate reflects the actual probability.
To illustrate, we entered -165 odds for an NBA moneyline into the calculator, yielding an implied probability of 62.26%. The rate shows that the team is indeed the favorite, with a 62.26% chance of winning the game. Meanwhile, their opponent at +135 had an implied probability of 42.55%.
Parlay Calculator
If you prefer betting on multiple betting markets at once, our Parlay Calculator will help you determine your potential payout on an accumulator bet with three to 20 legs (selections). After entering the odds for each bet, you must add your stake (bet amount) to learn the possible return. The calculator will also indicate the total parlay odds and implied probability of winning your high-risk, high-reward wager.
Moneyline Calculator
A moneyline is the simplest wager in sports betting, as you just predict who will win a match outright. Similarly, the Moneyline Calculator isn’t complex. It only requires entering the odds and your stake to know your implied probability and potential win.
We tested the tool with a +250 NFL moneyline and a wager of $100. As expected, the potential profit was $250 for a $350 total return, with an implied probability of 28.57%.
Meanwhile, a -200 rate on the same stake yielded a $50 profit ($100 total return) and an implied probability of 66.67%.
Notably, you can also use the tool as a horse betting calculator since races often involve predicting the winner. We tested it at 10/1 (+1000) odds, and got a $1,000 potential payout and 9.09% implied probability.
Odds Calculator
American odds are the default format in the U.S. However, you may want to work with others, such as Decimal or Fractional. If so, you can use betting odds calculators like this one from PlayersBest.
The Odds Calculator helps you convert between odds formats. Simply enter the odds, and it’ll automatically convert into five other types. Like the previously mentioned sports betting calculators, this tool also shows the implied probability of winning any wager.
Arbitrage Calculator
Arbitrage betting involves wagering on all possible outcomes of the same event across different bookmakers. The goal is to get a potential payout, regardless of the final result. With our Arbitrage Calculator, you can figure out ideal wager amounts for a positive outcome.
We consider the Arbitrage Calculator as one of the sports betting tools for advanced bettors. Still, it’s not complicated to use, as you only have to enter the odds from multiple sportsbooks and submit.
The following table outlines which sports are supported by the Arbitrage Calculator:
| Arbitrage Bet Type | Sports |
| Two-way arbitrage | Football, basketball, hockey, baseball, and similar sports |
| Three-way arbitrage | Soccer and other sports where a draw is possible |
| Unsupported wagers | Horse racing, golf, NASCAR, and other multi-competitor racing events |
Hedge Calculator
You may want to bet on opposite outcomes to get some returns or minimize losses. That involves hedge betting, and you can use this tool to manage the process. It’s another advanced option among our sports betting calculators.
The Hedge Calculator requires you to enter details of your original and secondary bets. After submitting, you will instantly get three different strategies on how to stake:
- Unbiased
- Biased towards the original bet
- Biased towards the hedge bet
Let’s say you plan to stake on two of the best online betting sites. First, you pick a team to win, and second, you select their opponent to beat the spread. From the three strategies, you can see which has the highest total potential payout and go with it. However, if the return is negative, it's not an ideal hedge bet.
Pros and cons of online betting calculators
These are the upsides and downsides of using automated calculators for sports betting:
- Helps in estimating potential payouts
- Saves time for manual calculations
- Can assist in finding value bets
- Calculations don’t guarantee results
Conclusion: Calculators make sports betting easier
PlayersBest’s betting calculators save you time when planning your sports wagers. You can use them to learn potential returns, find quality odds, or place possible value bets. That said, remember that the tools are here only to assist your research and won't guarantee any result.
You can click the links on this page to try out the calculators for your sports bets today. Also, we’d love it if you share your experiences and opinions after using the tools.
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Betting calculators FAQ
Yes, many online sports calculators are free. You can use those from PlayersBest to plan your wagers at no cost.
The best betting calculator is subjective, but the tools available at PlayersBest are among the most reliable for US bettors. However, keep in mind that no betting calculator guarantees winnings.
There are betting calculator apps, but most are available only on the web. You can use PlayersBest’s calculators online without installing any app.
