What Is a Bet Calculator?
A betting calculator will provide you with the payout and implied probability of a single, parlay (accumulator) or whichever type of bet you input into the tool.
This is perfect if you want to know the probability, or even just how much you stand to win and profit you will win from your bet. Thanks to the odds calculator, you don’t need to be registered with a site to click on their odds, which are sometimes restricted, and you can just calculate the odds with OddsPortal.
Our sports betting calculator is reliable and provides you something even more than bookmakers would with the implied probability, something that could be a deciding factor on whether or not you place your next bet.
How To Use The Betting Odds Calculator
The great thing about our betting odds calculator is that it’s extremely simple to use, and you just need to alter it to suit your needs by changing the type of bet, and the odds that you regularly use and can see at your chosen
If you are looking to find out the odds payout for a single bet and find it at the odds of 6.5 if you use decimals for example, you will need to:
- Input your stake and choose a single bet
- Make sure that you have chosen decimals on the odds calculator tool and enter 6.5 in the empty box below “decimal odds”
- Finally, click “CALCULATE”
- You will then be provided with all of the information you need, including decimal odds, fractional odds, American odds, implied probability, how much profit you win, and the whole payout!
If you want to enter a parlay bet, you can follow the same process with the odds calculator but this time instead of entering just one set of odds, you will enter for however many selections you have.
Using our odds calculator is designed to be simple and provide you with everything you need when trying to decide whether you should place a bet or not.
Use Our Bet Calculator as an Odds Converter
As you will probably be aware from what we have spoken about so far, or from using the free bet calculator tool we have provided, it also acts as an odds converter.
What is an odds converter? Well, an odds converter will provide you all of the odds, decimal, fractional, and American equivalents, if you are struggling to understand what is available with a specific bookmaker.
This could be useful if you are in another country to your typical place of residence because they may use unfamiliar odds to you. With a quick few clicks on our easy to use odds converter, you will be able to find out the odds and payout of your bet with the odds you are used to using.
Using Betting Calculator: Bet Type and Betting Odds
If you are completely new to online betting and have only just claimed your first after signing up with your first online bookmaker, then you might be yet to even decide which type of odds you want to have on site.
Luckily for you, OddsPortal is here to help. From the bet types you can place with online bookmakers to the type of odds you might expect to find, we detail it all below for you.
Bet Types: Single or Parlay
There are two main types of bet that you can place with online betting sites and they are:
- Single - As simple as it sounds, a single bet is where you pick just one selection to bet on. It could be as simple as a team to win, a player to win, a player to score, depending on which market you want to bet on.
- Parlay/Accumulator - This is a bet which is made up of multiple selections, rather than just one. Provided your markets can be combined as decided by individual betting sites, or they don’t clash by betting on the same event, a parlay bet will be created.
There are also each way bets, and numerous other bet types in the UK like a Lucky 15, Heinz, Trixie, and more. However, as it stands our betting calculator cannot yet provide you with you the returns from those type of bets.
Betting Odds
There are three different types of betting odds that you will find at online bookmakers in your country, and you can alter them to your preference once you are registered with a bookmaker, and sometimes even before.
Typically in Europe you will find decimal odds, fractional odds in the UK, and American odds in the US. But if you are for instance living in the UK but originally from the US, you might want to know the American odds from fractions, which our odds converter will help you do.
If you are completely unaware of betting odds, then below will tell you about what you can expect when it comes to how odds appear at online betting sites across the globe.
Decimal Odds
If you decide to choose decimal odds as the way of betting with online betting sites, you will see odds like 3.5, 6.75, 21, for example. By multiplying your stake by the number, you will then work out your whole payout for the bet, including your wager.
Fractional Odds
These are typically seen at UK online bookmakers, and they will show up at 11/4, 7/1, 19/2, and many other examples. They are probably more complicated than decimals or American odds, but if you choose to use them then our odds calculator will be able to quickly provide you with the returns on a fractional odds bet.
American Odds
These odds are, as you would expect, most common in the US and work off the basis off a $100 bet being a standard stake. American odds are portrayed as +100, +550, +860, and so on. If for example you had odds of +800, it would be the same as 8/1 or 9 in decimals, meaning it is not like getting 800/1 odds, hence why we said it is based off of a $100 stake.
