To figure out your potential profit, you simply have to follow these steps: You could use this free bet code converter tool to instantly see that 12/1 equates to +1200 in American odds and 13.00 in decimal odds, which are common at Canada sportsbooks. Fractional odds are common in the UK and other parts of Europe but not at US sportsbooks. Let’s say you want to place a $75 bet on Tiger Woods to win the Masters and you see his odds listed at 12/1. For now, let’s focus on how to use our bet payout calculator to work out your potential winnings on a bet. The sections below explain the different betting odds formats and what they mean. Finally, it provides you with the implied probability of success that the betting odds suggest. Most sports bettors have a preferred betting odds format, so this tool allows you to quickly switch to the odds format you are most comfortable with. This is helpful, because betting odds are often presented in different formats.

Second, you can covert betting odds between American odds, fractional odds and decimal odds.

The betting calculator cuts out the potential for human error. First, you will be able to quickly calculate the potential payouts you stand to earn from any of your sports bets. Our betting odds calculator serves three useful functions.

How to Calculate Sports Betting Odds in 2023

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