kelly calculator for sports betting american odds

Odds of 1/1 will pay the same amount risked, so a bet of $100 would profit $100 if it should win. Odds of 1/3 will pay only 33.33 percent of the amount risked, so a bet of $100 would profit $33.33 if it should win. But if the smaller number is divided by, the larger number, such as 1/3, then the odds will pay out less than the original bet risked.įor example, odds of 3/1 will pay three times (300 percent) the amount risked, so a bet of $100 would profit $300 if it wins.

If the larger number is being divided by the smaller number, such as 3/1, then the odds will pay out more than the original bet risked. They’re essentially simple math: Dividing one number by another and then taking that sum and multiplying it by your bet amount. Fractional odds explainedįractional odds are most common in horse racing and futures markets. A $100 bet made at decimal odds of 1.50 would return $150: $50 in profit and the original $100 amount risked. Instead of using positive and negative values or fractional equations, decimal odds display a simple value that you multiply your bet amount by to calculate your profit (money won) and overall return (profit and original risk amount).įor example, a $100 bet made at decimal odds of 3.00 would return $300 ($100 x 3.00): $200 in profit and the original $100 amount risked. Decimal odds explainedĭecimal odds are the preferred variation for most countries outside of the U.S., including Europe, which is why they are often referred to as “European odds”. The positive value indicates that the odds are “plus money” and return more profit than the amount risked on the bet.

For example, a bet placed at +400 odds would profit $400 on a $100 wager. For example, a bet placed at -400 odds would require you to wager $400 to profit $100.īets with lower implied probability are given a positive value.

110 odds require a $110 wager to win $100.īets with higher implied probability are given a higher negative value.

The most common American odds you’ll see is -110 and is often seen as the juice/vig on points spreads and Over/Under Totals.

An easy way to think about American odds calculation is to think of them as currency exchanges in $100 increments. American odds explainedĪmerican odds are presented in hundreds and thousands and are defined by the positive (+) or negative (-) value assigned. Use our betting odds and moneyline calculator tool above to convert these odds and learn more about them below. While they all mean the same thing, understanding how they work with your wager can be tricky. The way sports betting odds are presented can differ between American, Fractional, and Decimal.

Kelly calculator for sports betting american odds