From odds to answers, step by step.
OddsCalculator.ca
Start with the quoted price, convert it to a decimal multiplier, and keep profit separate from total return. This workflow works across all three common odds formats.
1. Normalize the odds
For +150, calculate 1 + 150/100 = 2.50. For −200, calculate 1 + 100/200 = 1.50. For fractional 5/2, calculate 1 + 5/2 = 3.50. Decimal prices already supply the multiplier.
Keep as much precision as possible in this step. For −110, use 1 + 100/110 rather than manually shortening the result to 1.91 before calculating.
2. Calculate the winning return
Multiply the stake by decimal odds. A $75 stake at 2.50 returns $187.50 on a win. Subtract the $75 stake to find $112.50 net profit.
On a simple losing bet, the stake is lost and payout is zero. The winning return shown by the calculator is conditional on success, not an expected payment. Voids, pushes, taxes, fees and special settlement rules are outside this model.
3. Work out the break-even point
Divide 1 by the decimal odds. For 2.50 this is 0.40, or 40%. A positive long-run expectation requires a true success probability above that break-even point, assuming the same fixed price and no costs.
To calculate expected value on a $100 stake with an estimated 45% probability, use 0.45 × $150 − 0.55 × $100 = $12.50. Expected value is an average under an assumed model; any individual bet can lose.
4. Understand the market margin
For a two-way market at 1.80 and 2.10, implied probabilities are about 55.56% and 47.62%. Their total is 103.17%, or about 3.17 percentage points above 100%.
Proportional normalization gives 53.85% and 46.15%, corresponding to fair decimal odds of about 1.8571 and 2.1667. These are estimates from prices alone. Confirm that both prices refer to opposing, exhaustive outcomes under the same rules.
5. Check assumptions before using the result
Choose a stake you can afford to lose, never borrow to gamble, and avoid treating a favourable calculation as a recommendation to bet. There is no formula that removes uncertainty.
Use the calculator to understand the numbers. Use the format guides to interpret a quote, and the responsible gambling resources if betting is causing stress or financial pressure.
Explore the numbers
Use the calculators to try these examples with your own inputs. Calculations describe prices and conditional returns, not guaranteed outcomes.
Convert odds and calculate payout
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| Odds | Net profit | Total payout | Implied probability |
|---|---|---|---|
| +150 | $150.00 | $250.00 | 40.00% |
| −200 | $50.00 | $150.00 | 66.67% |
| −110 | $90.91 | $190.91 | 52.38% |
| 2.50 decimal | $150.00 | $250.00 | 40.00% |
| 3/2 fractional | $150.00 | $250.00 | 40.00% |
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