Vegas Payout Calculator

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Odds and Probabilities: Odds Formats and Implied Probability

  1. Vegas Winnings Calculator
  2. Vegas Payout Calculator Formula
  3. Horse Racing Payout Calculator

Vegas Winnings Calculator

NCAAB Betting Information. There’s no madness like March Madness. Next to the Super Bowl, the NCAA college basketball tournament is the most bet on event on the sports calendar, but college basketball betting can be profitable for sports bettors throughout the regular season. The bet calculator allows you to input your stake & odds in American formats to quickly calculate the payout for your bets.

There are three main odds representations used by most bookmakers and betting websites. Let’s run through some examples of Decimal odds, Fractional Odds and American Odds:

Fractional Odds
Vegas odds payout calculator
This odds format is used primarily in the United Kingdom & Republic of Ireland. Fractional odds quote the potential profit which can be made on a bet if it wins, relative to the stake.
Vegas
For example if $500 is bet at odds of 2/1 the potential profit is $1000 ($500 * 2) and the total returned is $1500 ($1000 plus the $500 stake).
Decimal Odds
Decimal betting odds reflect the potential return if a bet succeeds, relative to the stake placed.
For example if £$ is bet at odds of 3.0 the total returned is $15 ($5 * 3)- and the potential profit is £10 ($5 * 3 minus the initial $5 stake).
VegasVegas payout calculator estimateVegas Payout Calculator
American Odds
  • Positive American Odds: These odds reflect how much you win on a single $100 bet. For example, a positive American odds @ +110 would win $110 for a $100 wager.
  • Negative American Odds: The odds indicate how much you must bet in order to make $100 profit. For example a wager on a team with American odds of -90 would win $100 on a $90 bet.
Implied Probability
Odds correlate to probability e.g a 2/1 bet is expected to win twice in every 3 attempts, hence the probability is 33.33%.

Vegas Payout Calculator Formula

A parlay is a single bet that links together two or more individual wagers for a high payout. A 2 team parlay might pay 13/5, a three team parlay might pay 6/1, a four team parlay might pay 10/1, and so forth with the payouts getting higher with more teams or totals selected. For a single bet, 2 to 8 teams or totals can be selected.

In order for the parlay bet to win, every one of the wagers must win or push (tie). If any of the selections lose, your wager loses, regardless of the outcome or cancellation of the other games. If one or more selections is a tie, postponed, incomplete, cancelled or rescheduled for another day, then the wager reverts to the next lowest number. For example, if you place a 5 team parlay and have 4 winners and a tie, your wager pays out as a 4 team parlay. If you place a 2 team parlay and one team wins and one ties, the wager becomes a straight bet.

Horse Racing Payout Calculator

The resulting wager will have the same risk amount with the win being calculated to reflect the odds of the remaining team (Example: On a two team $100 parlay with team A +110 and team B -110 if A ties and B wins the resulting wager will be a straight play on B risking $100 to win $91).