One of the easiest ways to determine what the potential return for your bet may be is by using an Odds Calculator. No matter the odds format you prefer, you can use our calculator tool to quickly estimate what the potential payout for your bets may be.
What is the Purpose of Betting Odds?
By using an Odds Calculator, you can easily calculate the true and implied odds and determine whether you have come across a very generous bet option. To calculate the value of a bet, you usually need to enter only the odds offered by the sportsbook and the amount you would like to bet. The rest of the calculations are instantly done by the Odds Calculator, instantly giving you the right answer.
What is the Difference Between True Odds and Implied Odds?
True odds are mainly determined by the bettor and their predictions of the probability of an outcome happening. It is difficult to determine the exact true odds for an event as they are subjective. That said, it is possible to come close to true odds for an event by resorting to predictive models. You can use handicapping to determine what the true probability of an event happening will be. If the true probability percentage surpasses the implied probability, then you can consider that as a good bet to make.
How Does Our Odds Calculator Work?
You will also need to enter the odds in the format that you prefer. Our Odds Calculator supports a few of the most popular formats, which allows you to fill out this type of information in the most convenient way for you. Once you have entered the odds that you see at the sportsbook, you will see the implied odds represented in percentages. The next step is to simply type the amount you would like to wager and the calculator will present the potential total return as well as the total profit you can expect if you enjoy a successful betting session.
The generated betslip can be saved or you can reset it, which will clear all of the details you have previously entered. You can change your bet information until you see calculations that would reveal a good value bet with a great potential for generous return.
Why Should You Use an Odds Calculator?
Our Odds Calculator is extremely easy to use, allowing you to use any odds format you find convenient. What is more, you can use this tool for different types of bets, allowing you to determine which option may bring you the best potential return. By using an Odds Calculator, you will be able to make betting decisions much quicker and improve your chances of enjoying rewarding betting sessions online.