Three team round robins tend to be easier to mange than longer round robin bets due to all the different permutations when dealing with four or more wagers. A streak calculator provides a rough approximation of the chances of winning a series of bets given a specific set of odds. For positive moneylines, divide the moneyline by and then add one to the result. This will give you the decimal version of the odds, which you multiply by the amount of money you wager.
For negative odds, divide with the moneyline, before adding one to this number. Multiply your wager by this result to determine payment for negative moneylines. Fractional odds require a single equation to determine your winnings, unlike American odds, which have different calculations according to plus and minus symbols. In order to calculate fractional winnings, divide the first number of the fraction with the second number, and add one to the result.
Multiply this number with the amount of money wagered to determine the winnings. Sports betting odds feature different formats around the world, including three main types utilized in most North American and Euro markets. American moneylines feature a plus to denote the underdog and a minus for the favorite, while British and European standards feature decimals or fractions. Odds converters allow you to plug one type of odds format into the system, which converts this figure into other formats.
The best odds converters offer all the different formats around the globe, including Malay, Indonesian and Hong Kong styles. Moneylines and spreads tend to be the more popular types of wager, but it can be difficult to select between the two when determining which has more value. Sports Interaction. Read Review. Spin Palace Sports. William Hill.
Tiger Gaming. Play Online Now Sports Interaction. Play Online Now Betway. NHL Betting Odds. Read more. Australian Open Odds. Find out the latest from the Aus Open! Mayweather vs Logan Paul Betting Picks. Our experts' free picks! Freeplay Value Calculator Similar to arbitrage calculators, freeplay calculators give you an opportunity of setting up a risk-free hedge. Half-Point Calculator This type of sports odds calculator deals with points spreads and totals, usually for basketball, football and college competitions.
Poisson Calculator One of the more complex type of calculations, Poisson probabilities are most often used in sports to approximate the strength of offensive and defensive capabilities of a team, compared to the rest of the competition. Reverse Bets Calculator Reverse bets are similar to parleys because both types of wagering involve two or more events. Round Robin Calculator A round robin calculator informs you of the potential profit and peril of creating a series of multi-team parley bets.
Streak Calculator A streak calculator provides a rough approximation of the chances of winning a series of bets given a specific set of odds. Related content for you. Best Sports Betting App. Interac e Transfer. Political Betting. One of the reasons why horse betting is difficult is because the odds fluctuate every time a bet is placed.
This fluctuation is called pari-mutuel wagering, or pool betting. With horse racing you are betting against other betters. Once the winning horse has crossed the finish line, the house will deduct its take and the remaining amount is then divided among the people who bet on the winning horse. Unlike with win bets, there are no exact horse racing odds for exotic bets because there are too many variables.
Yet at Amwager, we post probable payouts for exacta and daily double wagers. Also for exotic wagers, the payouts are calculated differently. Your payout is calculated by subtracting the amount of winning dollars from the total pool, then dividing the remaining pool by the amount of cash bet on the winner, and finally adding back in the winning bet amount. For easy math, we used round numbers. But in the real world, this does not always happen. Payouts use the actual odds and are rounded down to the nearest nickel or dime, depending on the rules of the racetrack.
This rounding is called breakage. This is why every racetrack has television simulcast commentator who handicaps between the races as well as publishing handicapping tip sheets to help you place your bets. At AmWager, we have our own horse racing handicapper that gives expert picks on upcoming races. Now that you know how to read and calculate horse racing odds, you are ready to take the bet! But when the day comes, it is good to know what your overall chances are in walking away a winner.
Some bets have better horse racing odds than others. Here is a quick reference chart that explains your chances of winning the types of bets mentioned earlier and the expected payout. Bet Type Chances of Winning Expectations Show Very Good Modest Payouts Place Good Payouts are better than show Win Average Payouts are better than place and determined by the win odds Exacta Hard Riskier bet that can pay a little or a lot, depending on how much is wagered on each selection Trifecta Very Hard High payouts but can be expensive to play with a lot of combinations Superfecta Extremely Hard Hard to bet unless you have a sizable bankroll, but big payouts are common.
One sure way you will be tagged as an amateur is if you do not know and use horse racing odds jargon. Here are some of the vocabulary you need to know:. Keep in mind, the top ten riders in the jockey standings win about 90 percent of the races run during the meet and favorite horses win about 33 percent of the time, and have low payoffs. Have fun at the race track, take a chance and hedge your bets!
We hope this guide better explains horse racing odds and turns you into a confident bettor. If you want to try and beat the horse racing odds, join our online betting platform and view live video of races!
Want a better shot at walking away a winner? Then trust us and keep scrolling. Glad you asked! Changing Odds: Either at the track on the tote board or on your online sportsbook, the odds will change depending on how many people are betting on each horse in the race up until post time. Favorites: Each race has a favorite. Probability: Fractional odds can easily be translated to probability percentages. To see an example of this calculated, keep on scrolling!
There are several types of pari-mutuel horse bets. A few of the most common are: Straight Bets Win Bets: Choosing the horse that crosses the finish line first. Place Bets: You are betting on a horse to finish second. Show Bets: Placing bets on a horse to finish third. Exotic Bets Exacta: When you pick the first and second place horse in that order. Trifecta: Select the first three finishers in a single race in order. Trifecta Box: Pick the first three finishers to finish in any order.
Trifecta Key: Pick three horses, choose one to win and the others to come in second or third. Superfecta: Pick the order of the first four finishers in one race. Superfecta Box: Pick four finishers, they can finish in any order. Superfecta Key: Pick four finishers, choose one to win and the other three finish in any order. Sounds complicated?
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