Core Steps
- Stake: Enter the amount you are betting.
- Odds: Enter the odds.
- Result: Payout and profit.
Bet Calculator
Enter your stake and the odds in American, decimal, fractional, probability, or contract format. You get the total payout, the profit, and the implied probability.
You entered one set of odds.
DarkHorse Odds checks millions.
This calculator prices one bet you entered by hand. DarkHorse Odds shows the best price for that bet across every sportsbook you use.
- 69 sportsbooks searched
- Best available line on every bet, in one list
- Hedges and promotion conversions calculated for you
How to Use This Calculator
What Is a Bet Calculator?
A bet calculator shows what a sports bet pays before you place it. You enter your stake, bet amount, and the odds. The results show your profit if the bet wins, the total payout including your stake. The calculator takes American odds, decimal, fractional, probability, and contract prices.
How to Read American Odds
Positive American odds are the profit on a $100 bet. Negative American odds are the stake needed to win $100. $100 at +150 profits $150 and pays $250. $150 at -150 profits $100 and pays $250. American odds between -100 and +100 do not exist. Even money is +100. Our How to Read Sportsbook Odds guide covers the decimal and fractional formats.
Implied probability is the win rate the price assumes. +150 implies 40% and -150 implies 60%. Both include the sportsbook's vig, which is why the two sides of a market add up to more than 100%.
How the Math Works
Note: The steps below use American odds. For any other format, use the Odds Converter.
Step 1. Positive Odds
Example: You bet $100 on the Phillies at +150 (decimal 2.50)
Step 2. Negative Odds
Example: You bet $100 on the Eagles at -150 (decimal 1.6667).
Which Calculator Do I Need?
Start from your situation. Each row links to the calculator built for it.
Note: Round robin, implied probability, vig, no-vig, expected value, Kelly criterion, and qualifying bet calculators are in production. Each one is added to this table when it goes live.
Bet Calculator vs Odds Converter
This calculator answers what a bet pays. The Odds Converter answers what a price looks like in another format and carries lookup tables for every common line.
Common Bet Calculator Mistakes
- Confusing payout with profit: Payout includes your stake. Profit does not. $100 at +150 pays $250 and profits $150. Reading one as the other overstates a win by the size of the bet.
Frequently Asked Questions
How do I calculate a payout from American odds?
For a positive line, profit equals the stake multiplied by the odds divided by 100, so $100 at +150 profits $150 and pays $250 in total. For a negative line, profit equals the stake multiplied by 100 divided by the odds, so $100 at -150 profits $66.67 and pays $166.67. The Bet Calculator at the top of this page does both and shows the implied probability alongside.
What is implied probability?
Implied probability is the win rate a price is quietly assuming. For a negative American line it is the odds divided by the odds plus 100, so -150 implies 60%. For a positive line it is 100 divided by the odds plus 100, so +150 implies 40%. It includes the sportsbook's margin, which is why the two sides of a market add up to more than 100%.
Why do the probabilities in a market add up to more than 100%?
The excess is the vig, the sportsbook's built-in margin. A standard -110 and -110 market implies 52.38% on each side, 104.76% in total, so the book keeps about 4.5% of the money wagered over time. Removing the vig gives the fair odds, and comparing fair odds with the price you are offered is how expected value is found.
Which calculator should I use for a sportsbook promotion?
Go by the terms, not the name on the offer. If the stake is not returned on a win, it is a Bonus Bet. If the stake comes back with the winnings but cannot be withdrawn until it is bet, it is Site Credit. If you bet your own money and get a refund only if it loses, it is a Second Chance Bet, and the refund itself will be one of the first two. A percentage added to your winnings is a Profit Boost.
What is the difference between hedging and arbitrage?
Arbitrage opens both sides of a market fresh, at two sportsbooks whose prices disagree, so that the combined implied probability sits under 100% and the return is fixed before anything is placed. Hedging closes a position you already hold by betting the other side at whatever odds are available now. The math is the same equalization; the difference is whether one of the bets already exists.
