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Calculate Payouts & Winnings With Our US Sports Betting Calculator 2024

Last Updated:
07/07/2024
Topic:
Betting Guide
Experiences:
Avid sports fan with betting nous

Welcome to our guide to using a sports betting calculator. Keep reading to see the perfect way to calculate betting payouts for bets on your favorite sport!

Our guide is the best place for learning about how a sports bet calculator works, and why it’s such an essential tool for any serious sports betting fan. Take a look below and see how a gambling calculator is essential for betting on anything from the NFL and NBA to the MLB, NHL and beyond!

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Why you need to use a sports bet calculator

If you’ve ever bet on sport, you’ll have probably asked yourself the question of ‘How much will I win if I bet X?’ It’s one of the most fundamental questions of betting as the odds determine what kinds of return you get from your winning bets. A good sports betting calculator will instantly reveal the winnings that you could make from any winning bet. As such, you’ll quickly be able to see whether that bet is worth pursuing or not.

But a sports bet calculator is about so much more than letting you calculate betting payouts. It also can help you explore different bet types that you might not have originally considered. After all, most sportsbooks will let you try all manner of bets including doubles, trebles, accumulators, trixies, lucky 15s and so on. By using a sports bet calculator, you’ll understand whether you should try some of these exotic bets or stick to a regular money line bet.

How to use a sports betting calculator

A good sports bet calculator will let you check how much you could potentially win depending on what the odds are, how much you put down in your betting stake, and what type of bet it is. You would normally be able to type in all of the above information into the sports bet calculator, revealing your return should you win your bet.

The first thing you’d need to do would be to pick which type of bet you want to put down. This could be a basic money line bet that predicts the winner in a sporting event. You would also get the option to add more bets to your selection, therefore making it a multiple bet or a parlay. By adding selections in the bet calculator, you’d see that the expected payout would increase. But this would come at the cost of making your bet more likely to lose. As such, we can see that a betting calculator offers a great way to calculate betting payouts for various stakes, odds, and bet types.

We should note that you should never have to pay any money to use any bet calculator, which is why you will commonly see these advertised as free bet calculators. In fact, many sportsbooks will include bet calculators on their websites. Plus, there might even be odds converters so that you can convert fractional, decimal, or American odds into your desired format.

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Sports bet calculator example—If I bet 100 how much do I win?

Some things are best explained as an example. This is certainly the case with any question that begins ‘How much will my bet win…?’ Let’s take a look at how a standard betting line calculator would work for a big basketball game. It’s the NBA Finals between the Phoenix Suns and the Milwaukee Bucks, and you want to back the Suns to win their next game. A sportsbook had odds of +155 for the Suns to win, and you wanted to put down a $100 money line bet.

You’d first select the bet type as a money line or single bet. There might also be options for picking the number of selections, and you might get to choose the odds format from between American, fractions, and decimal. For this example, we’d pick a single bet and select the American odds format.

From here, you should be able to enter the betting odds of +155 for the Phoenix Suns to win the game. Now you can type in how much you wish to put down as your betting stake. We entered in $100 for the above bet and found that if the Suns won, then we’d get a total return of $255. This would include our original $100 bet stake, as well as the $155 that we’d made as a profit.

Using a sports betting calculator for your favorite sports

The majority bet calculators will let you calculate betting payouts for pretty much all major sports. However, you might find that an NFL betting calculator might not offer you the same degree of specialization you need to calculate exotic bets for horse racing.

After all, horse racing allows you to try place bets which you wouldn’t ordinarily get in the majority of team sports. So if you wanted to bet on horse racing, you could use a betting calculator to see which of the place positions could offer you a satisfactory payout. For example, in a race with eight runners, you could win a place bet if your runner finished in the top three positions.

Plus any good bet calculator will let you bet on a draw in those sports like soccer and cricket that have 1×2 betting markets. All of which means that there’s a betting calculator for pretty much any sport.

Calculate betting payouts for advanced bets

Chances are that you’re going to want to know how to calculate betting payouts for much more than just basic money line bets. From spread bets to exotic bets like yankees and patents, there are plenty of ways that you can hunt down extra value from your bets. Here’s a look at how a good sports betting calculator could work out the odds payout for some more advanced bets.

Spread betting: A spread bet is a great way to get a little extra compared to a regular money line bet. A spread betting calculator should also be able to help you calculate how much you’d get depending on how accurate your prediction was. This kind of bet calculator often includes a slider so that you can calculate exactly how much risk you’d be up against depending on how far away from the spread you went with your prediction.

Exotic bets: Any good bet calculator will always give you a wealth of different bet types. You could work your way up from a single bet to include more selections for parlay betting. Plus there should be plenty of options for getting more detailed in your predictions with patents, yankees, Canadians, Heinz bets and so on. So that whether you want to try anything from a Goliath bet to a lucky 63, a decent sports betting calculator will be able to help you out.

Conclusion—Get started using a sports betting calculator

It’s fair to say that information is power when it comes to successful sports betting. As such, we can see that a sports bet calculator is an essential weapon in the arsenal of any serious sports betting enthusiast. This is because a sports betting calculator will instantly help you calculate betting payouts for all sports ranging from football and basketball to horse racing and MMA fighting. As such, you won’t have to waste time doing mental arithmetic and can instead focus on making your betting predictions.

We should note that a good sports bet calculator should be flexible enough to help you calculate betting payouts from some more advanced bets. So that whether you’re trying a super heinz on the Kentucky Derby, or a parlay on the weekend’s NFL, you’ll always be able to balance risk with returns. Don’t forget that a gambling calculator could also be able to help you work out how much you’ll get for wagering on some casino games. So be sure to use a sports betting calculator the next time that you want to bet on your favorite sport.

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Sports betting calculator FAQ

❓ Where can I find a free bet calculator?

All sports fans love bet calculators, but not all sports bet calculators are freely available. So we simply had to include a section on how you can find some free sports bet calculators in our US sports betting guide. This means you’ll get expert advice on which sports betting calculators to use without spending any of your own money. All you need to take your sports bets to the next level.

🏈 How does a football bet calculator work?

Making predictions about who’s going to win that big football game is tricky enough without having to calculate the potential returns from your bet. This is where a good sports betting calculator comes in. So read our guide to see how a sports bet calculator is just as invaluable for football betting as a good odds comparison. Perfect for getting more from your NFL bets.

🏇 Why would I need a horse bet calculator?

Check out our guide that reveals how a bet calculator can do so much more than calculate betting payouts on that big race. You might think that you can get by with your horse racing bets just fine without a calculator. But once you read our guide, you’ll quickly understand that a bet calculator can be an indispensable part of any successful horse betting strategy.

💪 What’s the best way to use a parlay sports betting calculator?

Read our guide to see how you can use a sports betting calculator for any kind of parlay bet. This reveals some tips for using a money line parlay calculator for the simplest kinds of bets. But we’ll also highlight how you can calculate the odds and payouts for more complex parlay bets. Such options will help you see how including player props and totals markets might help you get more from your parlays. 

🔮 How does a forecast bet calculator work?

Forecast bets are an essential part of horse racing betting, and they can help you get better returns than just backing the winner. It ultimately involves betting on where you think certain runners might finish in a horse race. Such predictions can become complicated when you involve your stakes and a betting site’s odds. So read our guide to see how you can use a sports bet calculator for this tricky kind of horse racing bet.

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