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How To Calculate Potential Payout
Tue 18 Apr, by Kolade Daniel

Learn How to Calculate Potential Payout

Bookies are relevant because they set the odds for sports events. The odds for each game are essential because they determine what you stand to walk away with if you place a correct wager. By extension, every punter should know how to calculate the potential payout for each wager they place. Interestingly, this isn’t a straightforward process because how you calculate your payout will defer, depending on the type of odds formats your online sportsbook uses. This concise guide will describe in detail the easiest ways to calculate your payout across the different kinds of odds formats out there.

Calculating Your Sports Betting Odds Like a Pro

Mastering how to calculate your payout takes a little time and patience. You can’t afford to make a mistake here, which can affect your decision-making process. With this in mind, here’s how to calculate your potential payment using three different odds formats.

#1 – How To Calculate Your Possible Payout With Decimal Odds Bets

Also fondly called European odds, this type of bet presents itself in decimal format. For example, they could appear as 1.20, 1.60, 2.30, etc. Estimating what you stand to profit from placing a wager using this type of odds format is very easy. Just multiply the size of your bet by the odds provided. Whatever value you get is your potential payout. If, for example, the odds of West Ham beating Newcastle is 1.5 and you bet $100 on that game, your potential payout is; 100 * 1.5 = $150.

#2 – How To Calculate Your Potential Payout With Fractional Odds

Calculating your potential payout with these odds is more challenging. Because these odds are more frequent in Ireland and the United Kingdom, it’s also known as UK odds. These odds typically look like 2/3, 9/4, 7/1, etc. If Liverpool were to meet Chelsea in an English Premier League (EPL) fixture and the odds of Liverpool beating Chelsea were given as 8/2, should you take that bet with $100, your potential payout would be; 100 8/2 = 100 4 = $400

Plus your initial stake, you’d get a total of $500 altogether.

#3 – How To Calculate Your Potential Payout With American Odds

Also known as money line odds, it’s the odds format that most NBA, MLB, and NFL events have. It’s also predominantly used in the United States. When evaluating your potential payout, you must know how much you’ll need to wager on the favorites in any event to earn a $100 profit. So, let’s say the Dallas Cowboys will meet the Seattle Seahawks, where the former is the favorite with -250 odds, and the latter is the underdog with +200 odds. Should you wager on the former, you’d have to bet $250 to make $100. Should you wager on the latter, $100 will give you a $200 profit

Conclusion

And that’s all there is to calculating your potential payout! Take advantage of your new-found knowledge and start placing bets with more value now!



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