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The Maths Behind Blackjack

Decimal odds These simply show the fractional odds in decimal format. Use our odds calculator to help determine your potential profit. Implied probability is used frequently in sports betting odds and is found by converting decimal or fractional odds into percentages. Remember, the house edge a sportsbook adds can affect the final payout amount slightly. Profit is the amount of money a bettor earns on a successful wager, not including the original stake. Multiple bets are when a gambler places several single bets into one large wager and must choose the winning outcome in each round to win the bet as a whole. Expected value is the average amount a bettor can expect to win or lose if they place the same bet on the same odds multiple times. Bettors use this value to compare bookmakers' odds and predict which one will offer the best winnings. Enter the number minus the percentage sign and click out of the box for the other odds to appear. This will give you your accumulator odds. You must win all the individual bets in the wager to win an accumulator bet. This time, we need to divide by the odds, or moneyline, and then add 1. Odds The odds are the likelihood of an event happening. To find your accumulator bet payout, simply multiply your accumulator odds by the amount you want to wager. Simply enter your stakes and odds, and our tools will tell you how much profit you should expect to receive using American, fractional or decimal odds. A stake is the amount of money a person is willing to place on a bet. How do you calculate betting odds?{/INSERTKEYS}{/PARAGRAPH} Want to Learn More? Let's look:. This field displays the amount of money you will win, not including your original wager, based on the odds and stake you enter. Profit This is the money a bettor earns on a successful wager, excluding the original stake. What is Expected Value? Payout Payout refers to the total amount a bettor receives on a successful wager, including profit and original stake. Payout is the total amount of money a bettor receives on a successful wager, including profit and original stake. An accumulator bet is made up of several individual wagers grouped into one large bet. How to Convert Odds On this page you'll be able to convert your odds using our odds convertor across the three different formats, hassle-free. To convert decimal odds to fractional odds, simply subtract 1 from the decimal, and then convert the remaining decimal number into a fraction. Betting sites use complex algorithms to determine odds for events like sports tournaments. Decide how much to stake, or bet, and then multiply this by the odds to determine your potential payout. Successful wagers include the original stake amount as well as the profit, so remember to incorporate this in your calculations when using American or fractional odds for determining a payout. A betting odds calculator uses the same criteria and mathematical principles a person uses — it simply streamlines the process. To find the expected value of a bet, multiply the probability of winning by the amount you could win on the bet, and then subtract the probability of losing multiplied by the potential amount lost on each bet. On this page you'll be able to convert your odds using our odds convertor across the three different formats, hassle-free. While accumulator odds calculators are available online, you can find this information yourself with a simple arithmetic exercise. The odds are the likelihood of an event happening. Bookmakers create their own complex algorithms based on an array of criteria to determine their sports betting odds. Stake A stake is the amount of money a person is willing to place on a bet. A single bet is a bet made on one selection, with the opportunity to make a profit by guessing the outcome of one match. {PARAGRAPH}{INSERTKEYS}A betting odds calculator and converter multiplies the stake by the odds to determine the potential profit on your sports betting wagers. Single Bet A single bet is a bet made on one selection, with the opportunity to make a profit by guessing the outcome of one match. Homepage Sports Odds Calculator. Divide the odds by , and then reduce it to its simplest form, e. For events like football tournaments for instance, an algorithm could include results of previous matches, where goals have been scored on the pitch, whether games were played at home or away, and more. Enter the odds, including the fraction sign, and then click out of the box for the other odds to appear. As for fractional odds, we just need to divide by the moneyline odd, and then reduce it to its simplest form, e. It is important to remember that odds at sports betting sites will not reflect the actual probability of events, as bookmakers add a house advantage to their statistical models so they can earn money. Sports betting sites often adjust their implied probability statistics to give themselves an edge, otherwise they would make little profit. Jump To:. You can convert fractional odds into decimal odds by dividing the numerator by the denominator, and then adding 1. However, the main difference is that decimal odds will include your stake in your winnings when processing the profit. Implied Probability. For sports fans that want to convert various odds across online sports betting sites or exchanges manually, whether it's American football or tennis , these are the basic formulas:. Enter the odds, including the positive or negative sign, and then click out of the box for the other odds to appear. What is a Moneyline Bet? All bettors should be able to understand the elements of a wager, and the mathematics used to determine the return on any stakes for a bet. To convert positive odds to a decimal, divide the odds by and then add 1. A betting odds calculator multiplies the stake how much a person bets by the odds the likelihood of the event outcome happening. If you want to calculate your accumulator odds, first make sure all your odds are in decimal form, and then multiply all the decimal odds together. A moneyline bet is more common in the USA, and is a wager made on who will win the game or event, irrespective of point spread. Let's look: First, bettors must decide whether they want to make a single bet or multiple bet. Multiple Bet Multiple bets are when a gambler places several single bets into one large wager and must choose the winning outcome in each round to win the bet as a whole. In summary: calculating the expected value of your bets may be the most useful sum you can make to determine whether a bookmaker is offering decent odds. Converting American odds into fractional odds is simpler. Visit our Odds Guide. Decimal odds simply show the fractional odds in decimal format. In short, it is the chance a bookmaker believes an event will happen. A betting odds calculator incorporates the following info: stakes, odds, odds format, profit and payout. What is Implied Probability? Betting Odds Calculator.