Odds Calculator
Convert American, decimal and fractional odds and implied probability, see the payout and profit on any stake, and work out the hedge that locks in a profit.
Odds Calculator: with the default inputs, total payout is $250.00.
Both prices on this page are read in this notation.
What you are risking.
Stake returned plus winnings, if the bet wins.
- Profit
- $150.00
- American odds
- +150
- Decimal odds
- 2.5
- Fractional odds
- 3/2
- Implied probability
The chance at which this price breaks even.
- 40%
Assumptions
- Payouts are the posted price with no tax, commission or exchange fee taken out.
- The hedge assumes both bets settle at the entered prices and are mutually exclusive, with no push, void or dead heat.
- This is arithmetic on odds already offered. It is not betting advice.
| American | Decimal | Fractional | Implied % | Profit | |
|---|---|---|---|---|---|
| −500 | 1.2 | 1/5 | 83.3% | $20.00 | |
| −300 | 1.333 | 1/3 | 75% | $33.33 | |
| −200 | 1.5 | 1/2 | 66.7% | $50.00 | |
| −150 | 1.667 | 2/3 | 60% | $66.67 | |
| −120 | 1.833 | 5/6 | 54.5% | $83.33 | |
| −110 | 1.909 | 10/11 | 52.4% | $90.91 | |
| +100 | 2 | 1/1 | 50% | $100.00 | |
| +120 | 2.2 | 6/5 | 45.5% | $120.00 | |
| +150 | 2.5 | 3/2 | 40% | $150.00 | ◀ your price |
| +200 | 3 | 2/1 | 33.3% | $200.00 | |
| +300 | 4 | 3/1 | 25% | $300.00 | |
| +500 | 6 | 5/1 | 16.7% | $500.00 | |
| +1000 | 11 | 10/1 | 9.1% | $1,000.00 |
Minus prices are favourites (you risk more than you win); plus prices are underdogs. +100, 2.00 and 1/1 are all evens.
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How this is worked out
The formula
American +A → decimal 1 + A/100; American −A → decimal 1 + 100/A; fractional a/b → 1 + a/b implied probability = 1 ÷ decimal odds payout = stake × decimal odds; profit = payout − stake hedge stake (equal result) = stake × d₁ ÷ d₂; locked result = stake × d₁ − stake − hedge stake a guaranteed profit exists when 1/d₁ + 1/d₂ < 1
Open How it’s calculated above to see this worked through with your own numbers.
What you enter
- Odds format
- Both prices on this page are read in this notation.American (−110, +150) · Decimal (1.91, 2.50) · Fractional (10/11, 3/2) · Implied probability (40%)
- Odds
- Free text.up to 14 characters · defaults to "+150"
- Stake
- What you are risking.in dollars · 0 or more · defaults to 100
- Work out a hedge on the other side(under More options)
- Turn this on or off.defaults to off
- Odds now available on the other side(under More options)
- The opposing outcome's current price, in the same format as above.up to 14 characters · defaults to "-120"
What you get back
- Total payoutmain answer
- Stake returned plus winnings, if the bet wins.
- Profit
- American odds
- Decimal odds
- Fractional odds
- Implied probability
- The chance at which this price breaks even.
- Hedge stake for an equal result
- Bet this on the other side and you finish with the same amount whichever side wins.
- Locked-in result either way
- Positive is a guaranteed profit, negative a guaranteed (smaller) loss.
- Implied probabilities combined
- Under 100% means a guaranteed profit is available.
What this assumes
- Payouts are the posted price with no tax, commission or exchange fee taken out.
- The hedge assumes both bets settle at the entered prices and are mutually exclusive, with no push, void or dead heat.
- This is arithmetic on odds already offered. It is not betting advice.
About this calculator
Odds are three ways of writing one number. This odds calculator converts any price between American (−110, +150), decimal (1.91, 2.50) and fractional (10/11, 3/2) notation and the implied probability, shows exactly what a stake pays and profits, and — under More options — works out the hedge bet that locks in the same result whichever side wins.
How to use it
Pick the format your bookmaker shows, type the price and the stake. Payout is everything you get back if the bet wins; profit is payout minus the stake. To hedge, open More options, tick the box, and enter the price now available on the opposite outcome in the same format.
How the conversions work
Decimal odds are the master form because they include the stake: 2.50 returns $2.50 for every $1. American +150 means $150 profit on $100, so it is 1 + 150/100 = 2.50. American −110 means risking $110 to win $100, so it is 1 + 100/110 = 1.9091. Fractional 3/2 is profit over stake, so it is 1 + 3/2 = 2.50 again. Evens is +100, 2.00 or 1/1.
Implied probability is 1 divided by the decimal odds — the chance at which the bet breaks even over the long run. +150 implies 40%. Add up the implied probabilities of every outcome in a market and you get more than 100%; the excess is the bookmaker's margin (the vig or overround). A −110 / −110 market sums to 104.76%.
Hedging
Suppose you bet $100 at +150 and the other side is now −120. A hedge of stake × d₁ ÷ d₂ = $100 × 2.50 ÷ 1.8333 = $136.36 on the other side pays $250 whichever side wins, so you finish $13.64 up either way. The calculator also sums the two implied probabilities: below 100% a guaranteed profit exists, at or above 100% the hedge only limits the loss. The chart shows the trade-off for every hedge size — hedge less and you keep more upside on the original bet, hedge more and you shift it to the other side.
What it does not do
This is arithmetic on prices you were quoted. It cannot tell you whether a bet will win, and a guaranteed hedge result assumes both bets are settled at these prices without voids, limits or rule differences between books. American prices are rounded to the cent and fractional prices to the nearest fraction with a denominator of 100 or less, marked "≈" when not exact.
Frequently asked questions
▸How do I convert American odds to decimal?
For plus odds, divide by 100 and add 1: +150 is 2.50. For minus odds, divide 100 by the number and add 1: −110 is 1 + 100/110 = 1.9091.
▸How much do I win on a $100 bet at +150?
$150 profit, so $250 back including your stake. At −150 you would win $66.67 on $100.
▸What does implied probability mean?
It is 1 divided by the decimal odds: the win rate at which a price breaks even. +150 implies 40%, −110 implies 52.38%.
▸How do you calculate a hedge bet?
Multiply your original stake by its decimal odds and divide by the decimal odds on the other side. Betting that amount makes both outcomes pay the same; if the two implied probabilities add to less than 100%, that result is a profit.
▸Why do the implied probabilities add up to more than 100%?
Because each price includes the bookmaker's margin. The excess over 100% — 4.76% on a −110 / −110 line — is what the book expects to keep.
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