In the sports betting line, computing payouts for betting is the major aspect to consider. If you are not able or not familiar with the calculations in this regard, betting won’t work for you effectively. However, there is no hesitation to admit that you do not know how to calculate the betting payout. You are not alone who does not have proper insight into it. There are many newbie bettors that are unfamiliar with total computing payouts on the winning bets. Conversely, there is nothing to regret as you can learn this important technique with the help of this blog.
What is the payout calculation all about?
Before learning the practice for computing payouts, it is vital to know what the payout on betting is. This is the total amount that you can get in return for the bet you have placed. For example, if you bet 100 $ on the Chicago Bulls to win a match, then you will get the payout for winning this bet. The payout usually includes the amount of your initial betting stake. However, there are different odds that you can use to compute payouts. So, let’s see how you can compute your winnings with Moneyline, decimal, and fractional odds below.
Moneyline
It is the favorite way to present odds in the United States. The odds with this system show three-digit numbers with plus and minus signs. You can also say positive and negative numbers. Now, these odds would represent two teams that have different probabilities to win a match. The plus sign indicates the underdog who has fewer possibilities, and the minus indicates favorites that have more possibility to win.
Chicago Bulls +600
Chiefs -750
These odds will look like these numbers. This is an example to demonstrate you for calculating the winnings. So, if you bet on the favorites, your bet would be for 750 to win 100 dollars. If you choose to bet on underdogs, you have to wager 100 bucks to win 600. However, with these odds, you will get a compound payout of stake + winning amount. These odds will let you compute the amount that you can win on a bet, but not the total payout. Well, these odds are simple to compute and are preferred by the US bettors. If you want to bet with these odds, you can bet live or with an online sportsbook.
Fractional
Now, you can bet with these odds to calculate betting payout. However, these odds are not much preferred in the United States due to their trickier calculations. But, they are much preferred in the United Kingdom and Ireland among bettors. You can commonly see these odds displayed on the racetracks for horses. These odds show the entire gambling participants to win the money on the bets placed for the horses. You can see these odds in the format like 7/3. This means that you have the probability of getting 7 for every 3 dollars stake.
In order to compute your winnings with these odds, you have to use a formula. Suppose, if you bet 50 $ for 7/3 odds. So, it will work by dividing the left digit with the right digit. 7/3 = 2.33, and now you have to multiply the result to the stake, i.e., 50 x 2.33 = 116.50. These odds will provide you with the total payout. So, now you can compute the total payout by adding the stake amount to the winning amount. 116.50 + 50 = 166.50. This will be your total payout if you win the bet placed with a 50 stake amount.
Decimal
These are the most addictive odds among the bettors in Europe, Canada, and Australia. The reason behind the popularity of these odds is their simple calculation. You can view these odds like 3.50 and 4.00. The decimal numbers that you are seeing will be the amount that you will get for every dollar bet. This means that your initial stake will be multiplied by these numbers to conclude the winnings. The decimal odds will always show in positive numbers, so there is faster and clear-cut calculation.
For example, if your initial wager is 50 again for decimal odds. Then you simply multiply this number with the decimals. Like 50 x 3.50 = 175 and similarly 50 x 4 = 200. The winnings in these odds include the staked amount, so you do not need to add it separately. However, if you want to see the net profit you have made, just subtract the stake from the total winnings.
50 x 3.50 = 175 – 50 = 125.
50 x 4 = 200 – 50 = 150.
With these odds, the calculation is easy, and you can see that for every dollar you have staked, the winnings are receivable. You can bet the stake as per your own preference, and the winnings will increase or decrease accordingly with these decimals.
The Bottom Line
This way, you can calculate the betting payout for every winning. These are the live sports betting odds that are used by the bookmakers to show the winning probabilities and winning payouts. You can easily learn to compute winnings by applying basic calculations. There is no rocket science behind these odds, and they are completely trouble-free to describe betting returns.