Welcome to the Sports Betting Odds section of The Sports Geek. If you are new to sports betting and don’t understand how to read betting odds (+150, -110, +2200, etc) we will lay it all out for you and help you learn how the betting odds work.

1. Betting Odds Converter
2. How To Calculate American Betting Odds Calculator
3. How To Determine Odds

Our betting odds calculator is a simple tool that allows you to quickly convert different type of odds. Input your stake & odds in American, Decimal, or Fractional formats to quickly calculate the payout for your bets. How to use the Betting Calculator? Simply enter the wager amount in the “Bet Amount” field on our betting odds calculator. Positive odds - 100 divided by (the american odds plus 100), multiplied by 100 to give a percentage e.g. American odds of 150 = (100 / (150 + 100)). 100 = 40%. Negative odds - Firstly multiply the american odds by -1 and use the positive value in the following formula: american odds divided by (the american odds plus 100), multiplied by 100 to give a percentage e.g. American odds of -300 = (300/(300+100)).

Sports Betting Odds Explained

Many people don’t know how to read or calculate sports betting odds, so below we have done our best on explaining how betting odds work. The most common type of sports betting odds used in North America are the American style odds which we explain below.

• Basket - The payout will be 6:1 (with a percentage chance of 13.2% in American roulette, this bet is not found in European roulette) as you are betting on five numbers (i.e. 0, 00, 1, 2, 3).
• Odds Conversion Formulas. Convert odds between American, Decimal, and Fractional format using simple odds conversion formulas. Or, skip the math and use the odds converter instead!
• Betting Odds Explained. American Odds – American Odds are the default odds format at most US friendly betting sites as well as Nevada sports books. Here odds are expressed as either a negative or a positive number. When positive the odds represent how much a.

American Style Sports Betting Odds

Most online sportsbooks will list their odds in what is called “American Odds”. There are a couple different versions of sports betting odds, but these American Odds are the most common odds used. Reading and understanding sports betting odds can bet a little confusing to beginners, so we have provided an example below using two NFL football teams:

American Odds

• Matchup Odds
• New England Patriots +120
• Pittsburgh Steelers -140

The number shown in the bracket represents the odds. The American Odds have two components to them, the first being the positive or negative sign, and the second being the number that follows the sign.

The sign in front of the number indicates whether placing a wager on that outcome will pay out more money then you have wagered or less money then you have wagered. If the odd is negative (-) it means that outcome is more likely to happen and placing a bet on that outcome would payout less than the amount you wagered, while a positive (+) odd shows that the outcome is less likely to happen and it would pay out more than the amount you wagered.

The next step is figuring out exactly how much the bet pays out, which is where the numbers in the odds come into play.

A listed odd with a – sign in front of it, such as the -140 in our example above, shows us how much money you would need to wager in order to win $100. So using the -140, this would show us that you would need to bet $140 in order to win $100 in profits. You can easily substitute the $100 bet for a $10 bet by moving the decimal place over one spot, showing us that you would need to wager $14 in order to win $10 in profits.

Examples:

A listed odd with a + sign in front of it, such as the +120 in our example above, shows us how much money you would win on a $100 bet. Using the +120 odds, it shows us that a $100 bet on that outcome would pay out $120 in profits. Again this can easily be converted into smaller or larger size bets. A $10 bet on +120 odds would pay out $12 in profits.

Examples:

Below is an example of NFL betting odds taken from an online betting site.

In this example you can see Los Angeles is listed at +130 ($100 bet pays $130 plus of course your original wager back) and New England is listed at -150 ($150 bet pays $100).

The great thing about betting online is that the online sportsbooks will do the calculations for you before you place your bet. You can click on the outcome or team you would like to bet on, and then input the amount you wish to wager and it will show you your potential pay out before you confirm your bet.

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Decimal Style Sports Betting Odds

Decimal style odds are used mostly in Europe, and are pretty easy to understand. To calculate the decimal style odds all you will need to do is simply multiply the amount you wish to wager by the decimal odds shown and you will get your payout. For example it may look something like this:

If you wanted to place a $10 wager on the USA at 2.40 you would simply need to multiply your $10 wager by the 2.40 odds (10 x 2.40) to find out that the payout is $24. It is important to realize that with decimal style odds it includes the amount you wagered, so to find out profits you would need to subtract your wager ($24 – $10) to find out your potential payout is $14 in profits.

If you wanted to place a $10 wager on Brazil you would again just multiply $10 x 1.55 to find out that you would win $15.50 total or $5.50 in profits.

Decimal style betting odds are very simple to understand, but you won’t see them displayed in many North American sportsbooks. With that said, most online betting sites will allow you to chose the style of betting odds you want displayed, with American odds set as the default.

The format for betting odds can vary depending on which part of the world you live in. The two most common options used are Decimal and American odds. But what is the difference, how do you calculate returns for each format and convert from one to the other? Read on to find out.

Before we delve into examples on how to calculate bet returns that have been presented in different odds formats, it is important to note that, irrespective of which odds format you use, the potential profit is the same, the presentation just differs.

Odds expression indicating return relative to 100 unit base figure. With money odds, whenever there is a minus (-) you lay that amount to win a hundred dollars, where there is a plus (+) you win that amount for every hundred dollars you bet.

Calculating profits with Decimal odds

Decimal odds are predominantly used in continental Europe, Australia and Canada. The format is a simple numerical representation of the potential return of a bet, which includes the stake amount.

The potential return on a bet quoted in Decimal odds is extremely easy to calculate by simply multiplying the amount you wish to bet by the Decimal odds offered – just remember that the return includes your stake. Here is an example of Decimal odds in a 1X2 soccer market from Pinnacle:

Calculating the potential return for a $100 Bet on Chelsea at 2.270:

Odds x Stake = 2.270 X 100 = 227

As this includes your original $100 stake amount, the potential profit is $127.

Calculating the potential return for a $100 bet on Liverpool at 3.390:

Odds x Stake = 3.390 x 100 = 339

Calculating profits with American odds

American odds are unsurprisingly the default format used in America. They start either with a positive or a negative sign, e.g. -110, or +120. A negative number indicates the amount you must stake to make $100 profit (or the equivalent in your chosen currency) and a positive number indicates how much you might profit if you bet $100 (again, this would be the equivalent in your chosen currency).

Using the example above, if you bet $124 on the Washington Redskins -2.5 handicap with American odds of -124 and they cover the spread, you will make $100 profit (plus your original $124 stake). If you bet $100 on the Dallas Cowboys +2.5 handicap with odds of +112 and they cover the spread, it will return $112 profit (plus the original $100 stake).

As with any odds format, the potential return and profit from a bet is relevant to the stake amount. Using a $100 bet example is the easiest way to calculate profits with American odds, but below is a simple formula to work out potential returns for any stake.

Negative American odds calculation:

(100/Odds) x stake

Positive American odds calculation:

Odds x (stake/100)

If we use the odds from the above example, you could bet $13.75 on the White Sox at -129 and your potential profit is $10.66:

Using the same example for positive odds, you could bet $15 on the Royals at +119 and your potential profit is $17.85:

Odds x (Stake/100) = 119 x (15/100) = 17.85

Betting Odds Converter

Odds conversion table

This table can be used to convert one type of odds format into another. If you have a specific bet or odds you wish to convert, use Pinnacle's Odds Converter.

Whether you use the Decimal or American format, you’ll get the best betting odds with Pinnacle, the ultimate bookmaker with the highest limits and lowest margins.

Decimal odds video explainer

Found this article useful? Why not check out our video that details Decimal and American odds.

How To Calculate American Betting Odds Calculator

American odds video explainer

How To Determine Odds

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