How to use a Betting Calculator | Bet on the NBA Playoffs
A betting odds calculator is a tool used to determine the potential payout and implied probability of a bet based on the provided odds. The calculations can vary depending on the type of odds used (moneyline, decimal, or fractional). Let’s go through each:
Moneyline Odds Calculator:
Moneyline odds are typically used in the United States and can be displayed as positive or negative numbers. Positive numbers indicate the potential profit on a $100 bet, while negative numbers indicate the amount you need to bet to win $100. To calculate the potential payout for positive moneyline odds, use this formula:
Potential Payout = (Stake / 100) x Moneyline Odds + Stake
For negative moneyline odds, use this formula:
Potential Payout = (Stake / abs(Moneyline Odds)) + Stake
The implied probability for positive moneyline odds can be calculated as follows:
Implied Probability = (100 / (Moneyline Odds + 100)) x 100
For negative moneyline odds, use this formula:
Implied Probability = (abs(Moneyline Odds) / (abs(Moneyline Odds) + 100) x 100
Decimal Odds Calculator:
To calculate the potential payout, you can use the following formula:
Potential Payout = Stake x Decimal Odds
The implied probability can be calculated as follows:
Implied Probability = (1 / Decimal Odds) x 100
Fractional Odds Calculator:
Fractional odds are displayed as a fraction, such as 2/1 or 5/2. The first number represents the potential profit, and the second number represents the stake. To calculate the potential payout, use this formula:
Potential Payout = (Stake / Denominator) x Numerator + Stake
The implied probability can be calculated as follows:
Implied Probability = (Denominator / (Denominator + Numerator) x 100
By using these formulas, you can calculate the potential payout and implied probability for different types of odds. Remember to adjust the formulas based on the odds format you are working with. Pinnacle Sports provides a free odds calculator for you to use 24/7.
Below we have provided the top three Offshore Sportsbooks of 2023 accepting players from the US.
#1 BetOnline:
BetOnline prides itself on posting its lines very early and they have a unique offering called “Odds Boosters,” which give out explosive payouts on pre-selected parlays on a daily basis. With Prop Builder, the customer can access dozens – even hundreds – of different options to wager on. There is also “live betting,” where bets can be placed on events as they are happening. This opens up a whole new host of possibilities. BetOnline also offers a full-featured racebook, and a poker room. All of it is mobile-friendly.
#2. MyBookie:
MyBookie is a full-service operation. The casino is highlighted by the presence of over 200 slot games. There is also a live dealer casino with the full complement of games. And they have developed a world-class racebook which covers races from around the globe. MyBookie features many bonuses, especially for those who are crypto betting customers. There is, for example, a $1,000 Bitcoin Signup Bonus in the sportsbook, and it comes in the form of free play and available on the first deposit. It comes with a reasonable 10x rollover.
#3. BetUS:
BetUS is pretty strong from the standpoint of working with cryptocurrencies. They accept Bitcoin, Bitcoin Cash, Litecoin and Ethereum. There are no fees to transact in Crypto, and the deposit limit of ($50,000) is very liberal. BetUS also offers a full casino. A plethora of blackjack options is available, including Spanish Blackjack and Double Exposure. Everything else can be found, including baccarat, craps, roulette (in various forms), and table games off the beaten path like Casino War, Let It Ride, Caribbean Stud, Pai Gow, 3-Card Poker, Pontoon and much more. There are over 250 slot games to choose from, as well as a live dealer casino.
During 2022, domestic operators raked in an unprecedented $7.6 billion in revenue from sports betting, a testament to the growing popularity of the industry. And according to the industry experts, 2023 is poised to be another year of significant growth, with projections indicating the industry could reach $20 billion in revenue by the end of the year.
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