Betting Calculator 2026 - Calculate Odds, Payouts & Winnings
Calculate your betting odds, potential payouts, and winnings instantly with our comprehensive betting calculator. Support for American, Decimal, and Fractional odds formats, plus single bets, parlays, and multiple bet types for all sports betting scenarios.
⚠️ Responsible Gambling Notice: Gambling should be entertainment, not a way to make money. Never bet more than you can afford to lose. If you or someone you know has a gambling problem, call the National Problem Gambling Helpline at 1-800-522-4700 or visit NCPG.org for free, confidential support 24/7.
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Understanding Betting Odds Formats
Betting odds represent the probability of an outcome and determine how much you can win. There are three main formats used worldwide, and each expresses the same information differently.
American Odds
Most common in the United States. Positive numbers show profit on a $100 bet. Negative numbers show how much to bet to win $100.
Example: +150 means win $150 on $100 bet. -110 means bet $110 to win $100.
Decimal Odds
Popular in Europe, Canada, and Australia. Represents total return including your stake. Multiply your stake by decimal odds.
Example: 2.50 odds means $100 bet returns $250 total ($150 profit + $100 stake).
Fractional Odds
Traditional format in UK and Ireland. Shows profit relative to stake. First number is profit, second is stake required.
Example: 3/2 means win $3 for every $2 staked ($150 profit on $100 bet).
Betting Odds Conversion Formulas
Understanding how to convert between odds formats helps you compare betting opportunities across different sportsbooks and regions. Here are the mathematical formulas for each conversion.
American Odds to Decimal Odds:
Decimal Odds to American Odds:
Fractional Odds to Decimal Odds:
Example: \( \frac{3}{2} = 1.5 + 1 = 2.50 \)
Odds Conversion Table
| American Odds | Decimal Odds | Fractional Odds | Implied Probability |
|---|---|---|---|
| +100 | 2.00 | 1/1 (Evens) | 50.0% |
| +150 | 2.50 | 3/2 | 40.0% |
| +200 | 3.00 | 2/1 | 33.3% |
| +300 | 4.00 | 3/1 | 25.0% |
| +400 | 5.00 | 4/1 | 20.0% |
| -110 | 1.91 | 10/11 | 52.4% |
| -150 | 1.67 | 2/3 | 60.0% |
| -200 | 1.50 | 1/2 | 66.7% |
| -300 | 1.33 | 1/3 | 75.0% |
| -400 | 1.25 | 1/4 | 80.0% |
How to Calculate Bet Payouts
Calculating your potential winnings depends on the odds format and your stake amount. The fundamental principle remains the same: odds represent the relationship between risk and reward.
Single Bet Payout Formulas
Payout with American Odds (Positive):
Example: $100 bet at +150 = $100 × (150/100) = $150 profit, $250 total payout
Payout with American Odds (Negative):
Example: $110 bet at -110 = $110 × (100/110) = $100 profit, $210 total payout
Payout with Decimal Odds:
Example: $100 bet at 2.50 = $100 × 2.50 = $250 total payout, $150 profit
Parlay Betting Calculator Guide
A parlay (also called accumulator or combo bet) combines multiple individual bets into one wager. All selections must win for the parlay to pay out, but the potential returns are significantly higher than single bets because the odds multiply together.
Parlay Odds Calculation:
Parlay Example: You create a 3-leg parlay with $50 stake:
• Leg 1: Team A to win at +150 (2.50 decimal)
• Leg 2: Team B to win at -110 (1.91 decimal)
• Leg 3: Team C to win at +200 (3.00 decimal)
Calculation: 2.50 × 1.91 × 3.00 = 14.325 combined odds
Total Payout: $50 × 14.325 = $716.25 ($666.25 profit)
Note: If any single leg loses, the entire parlay loses.
Parlay Probability and Risk
While parlays offer enticing payouts, they are significantly riskier than single bets. The probability of winning a parlay is the product of each individual bet's probability.
Parlay Win Probability:
where \(P_i\) is the probability of each leg winning
| Number of Legs | Individual Win Probability | Parlay Win Probability | Example Payout Multiplier |
|---|---|---|---|
| 2-Leg Parlay | 50% each | 25.0% | 4.00x |
| 3-Leg Parlay | 50% each | 12.5% | 8.00x |
| 4-Leg Parlay | 50% each | 6.25% | 16.00x |
| 5-Leg Parlay | 50% each | 3.13% | 32.00x |
| 10-Leg Parlay | 50% each | 0.10% | 1024.00x |
Implied Probability and True Odds
Implied probability converts betting odds into a percentage chance of an outcome occurring. This helps bettors identify value by comparing implied probability to their own assessment of the true probability.
Implied Probability from Decimal Odds:
Implied Probability from American Odds:
The Vig (Vigorish): Sportsbooks build in a profit margin called the "vig" or "juice." If you add the implied probabilities of all outcomes in a market, the total exceeds 100%. The excess represents the sportsbook's edge. For example, a bet at -110 has 52.4% implied probability, but the true probability is closer to 50%. The 2.4% difference is part of the vig.
Types of Sports Bets Explained
Moneyline Bets
The simplest form of sports betting where you pick the winner of a game or match. No point spreads involved—just select which team or player wins outright. Favorites have negative odds, underdogs have positive odds.
Point Spread Bets
The favorite must win by more than the spread, while the underdog must either win outright or lose by less than the spread. Standard odds are typically -110 on both sides. The spread levels the playing field between mismatched teams.
Point Spread Calculation:
Favorite covers if Result > Underdog Score
Over/Under (Totals) Bets
Bet on whether the combined score of both teams will be over or under a specified number set by the sportsbook. You're not picking a winner—just whether the game is high-scoring or low-scoring.
Prop Bets (Proposition Bets)
Wagers on specific events within a game that don't necessarily relate to the final score. Examples include player performance (yards, touchdowns, points), game events (first team to score), or novelty bets (coin toss outcome in Super Bowl).
Futures Bets
Long-term wagers on events that will be decided in the future, such as championship winners, season MVPs, or end-of-season win totals. Futures typically offer higher odds since outcomes are uncertain over extended periods.
Live Betting (In-Play)
Place bets while the game is in progress. Odds constantly adjust based on game flow, score, time remaining, and momentum. Live betting requires quick decision-making and understanding of game dynamics.
Bankroll Management for Sports Betting
Successful sports betting requires disciplined bankroll management. Your bankroll is the total amount of money you've set aside specifically for betting—money you can afford to lose without affecting your daily life.
The 1-5% Rule: Professional bettors typically risk between 1-5% of their total bankroll on any single bet. This conservative approach protects against losing streaks and allows your bankroll to withstand variance.
Example: With a $1,000 bankroll, betting 2% per wager means $20 bets. Even a 10-game losing streak (rare) only depletes 20% of your bankroll, leaving $800 to recover.
Unit Size Calculation:
Example: $2,000 bankroll × 3% = $60 per bet
Kelly Criterion for Bet Sizing
The Kelly Criterion is a mathematical formula used to determine optimal bet size based on your perceived edge. It maximizes long-term bankroll growth while minimizing risk of ruin.
Kelly Criterion Formula:
where \(f^*\) = fraction of bankroll to bet, \(b\) = decimal odds - 1, \(p\) = probability of winning, \(q\) = probability of losing (1-p)
Kelly Caution: Many professional bettors use "fractional Kelly" (betting half or quarter of the Kelly recommendation) because full Kelly can be aggressive and lead to significant bankroll swings. The formula assumes you know the true probability, which is difficult in practice.
Official Gambling Resources and Regulations
Sports betting is regulated at both federal and state levels in the United States. Since the Supreme Court's 2018 decision in Murphy v. NCAA, individual states have been authorized to legalize and regulate sports betting within their borders.
Federal Government Resources
State Gaming Commissions (United States)
| State | Regulatory Body | Sports Betting Status |
|---|---|---|
| Nevada | Nevada Gaming Control Board | Legal since 1949 |
| New Jersey | NJ Division of Gaming Enforcement | Legal since 2018 |
| Pennsylvania | PA Gaming Control Board | Legal since 2018 |
| Colorado | CO Division of Gaming | Legal since 2020 |
| Michigan | MI Gaming Control Board | Legal since 2021 |
| Arizona | AZ Department of Gaming | Legal since 2021 |
| New York | NY State Gaming Commission | Legal since 2022 |
Verify Local Laws: Sports betting laws vary significantly by state and country. Always verify that online or in-person betting is legal in your jurisdiction before placing any wagers. Betting with unlicensed or offshore operators may violate local laws and offers no consumer protections.
Responsible Gambling Practices
Responsible gambling means keeping betting fun and entertainment-focused while staying in control. Implementing these practices protects your financial wellbeing and ensures betting remains enjoyable.
Warning Signs of Problem Gambling:
• Betting more than you can afford to lose
• Chasing losses by betting larger amounts
• Borrowing money to gamble
• Neglecting work, family, or personal responsibilities
• Feeling anxious, depressed, or irritable about gambling
• Lying to others about gambling activities
If you recognize these signs, seek help immediately. Call 1-800-522-4700 (24/7 confidential support).
Safe Betting Guidelines
Set Strict Limits: Determine your betting budget before you start. Never exceed this amount regardless of wins or losses. Use deposit limits and loss limits offered by licensed sportsbooks.
Never Chase Losses: Losing streaks happen to everyone. Increasing bet sizes to recover losses quickly leads to bigger losses. Stick to your unit size and strategy regardless of recent results.
Take Regular Breaks: Set time limits for betting sessions. Walk away after reaching your predetermined time limit, whether winning or losing. Don't let betting consume your free time.
Avoid Betting Under Influence: Never bet while under the influence of alcohol or drugs. Impaired judgment leads to poor decisions and excessive betting.
Keep Betting Separate: Maintain separate bank accounts or e-wallets for betting funds. Never use money designated for bills, savings, or essential expenses.
Self-Exclusion Programs: All regulated sportsbooks offer self-exclusion options. You can voluntarily ban yourself from betting for a specified period (months or years). This legally binding commitment can help those struggling with control.