How to Use This Betting Calculator
This betting calculator works in three steps. First, select your odds format using the tabs above the tool â American (moneyline), Decimal, or Fractional. Second, enter your stake in the Bet Amount field. Third, type your odds into the odds field. Your profit, total payout, and implied probability update instantly as you type.
The odds calculator handles all three major formats used by sportsbooks. If you need to convert betting odds from one format to another, simply switch the tab â the tool recalculates immediately using the same stake. For multi-bet calculations involving two or more selections, use our parlay calculator instead.
Understanding Betting Odds Formats
Every sportsbook expresses odds differently, which is why an odds converter is useful â the same bet can look very different depending on the format. Here's how each one works:
American odds (moneyline) are the default format on most Canadian and US sportsbooks. A positive number like +150 means a $100 bet returns $150 profit. A negative number like -110 means you stake $110 to win $100 back. Favourites carry negative odds; underdogs are positive.
Decimal odds represent the total payout per dollar wagered, stake included. Odds of 2.50 mean a $100 bet returns $250 total ($150 profit + your $100 back). This format is standard across Europe, Australia, and many international platforms accessible to Canadian bettors. It's the easiest format for quick mental maths.
Fractional odds express profit relative to stake. 3/1 (read "three-to-one") means you profit $3 for every $1 staked. Fractions below 1/1 â like 1/2 â indicate a favourite, where you stake more than you win. This format is most common in UK horse racing.
This betting odds calculator acts as an odds converter too: switch between the three tabs to see exactly how the same bet reads across all formats.
Example Odds Calculations
| Odds |
Format |
$100 Stake |
Profit |
Payout |
Probability |
| +200 | American | $100 | $200.00 | $300.00 | 33.3% |
| -110 | American | $100 | $90.91 | $190.91 | 52.4% |
| 2.50 | Decimal | $100 | $150.00 | $250.00 | 40.0% |
| 3/1 | Fractional | $100 | $300.00 | $400.00 | 25.0% |
| 1/2 | Fractional | $100 | $50.00 | $150.00 | 66.7% |
What Is Implied Probability?
Implied probability is the bookmaker's built-in estimate of how likely an outcome is, expressed as a percentage. This betting calculator derives it directly from the odds you enter. For example, if a team has -110 American odds, the implied probability is approximately 52.4% â the book is pricing that team as a slight favourite.
Here's what makes this number important: when you add up implied probabilities across all outcomes in a market â say Team A and Team B â the total comes to more than 100%. That excess is the bookmaker's margin, also called the vig or juice. It's built into every set of betting odds, regardless of format.
A sharp bettor compares the implied probability against their own probability estimate. If you think Team A has a 60% chance of winning but the odds only imply 52%, that gap represents a potential edge. To convert odds into probability in more detail, see our dedicated implied probability calculator.
What is a betting calculator?
A betting calculator takes your stake and odds and works out your potential profit, total payout, and the implied probability behind the odds. It removes the mental arithmetic from betting â enter your numbers, read your results. This odds calculator supports American, Decimal, and Fractional formats so it works regardless of which sportsbook you use.
What's the difference between an odds calculator and an odds converter?
An odds converter translates odds from one format to another â for example, American +150 into Decimal 2.50. An odds calculator goes further, computing profit, payout, and probability from the odds. This tool does both: switch between the American, Decimal, and Fractional tabs to convert, or enter a stake to calculate winnings.
What odds format do Canadian sportsbooks use?
Most Canadian sportsbooks â including Bet99, Sports Interaction, and BetMGM Canada â default to American/moneyline odds, though most let you switch to decimal in account settings. Decimal odds are standard on international platforms. This betting odds calculator handles all three formats so you're covered wherever you play.
How do I convert American odds to decimal?
For positive American odds: decimal = (odds / 100) + 1. So +200 becomes 3.00. For negative American odds: decimal = (100 / |odds|) + 1. So -110 becomes approximately 1.909. Or just switch to the Decimal tab in this odds converter â it recalculates automatically.
Does this calculator account for the bookmaker's margin?
No â this betting calculator shows the true payout based on the odds as given. The vig is already embedded in the odds you receive from a sportsbook, which is why implied probabilities across a full market add up to more than 100%. What you see in the results is exactly what you'd be paid if your bet wins.