Odds in sports betting can appear in 3 different forms; Decimal odds, American odds, and Fractional odds. Depending on where you live in the world you will most likely be familiar with only one type of odds. For example, the most popular odds in UK is Fractional odds. While in the rest of Europe, Decimal odds are the most commonly used. If you are encountering betting odds for the very first time it can get quite confusing with all the different ways of expressing them. So that is why we have made this list of the Top 5 Best Odds Calculators that will make your life a little bit easier.
Ace Odds convert any type of odds, whilst also showing you the implied probability of that outcome occurring. Let's say you type in '2.25' in the Decimal odds bracket, you will instantly get a representation for the American odds, Fractional odds and the implied probability. In this particular case, American odds would be displayed as +125, Fractional odds would be displayed as 5/4 and the implied probability is 44.4%. Next to that they have a handy table of the most common odds and a bet calculator that you can use to see how much you would win with particular odds and stakes.
OddsShark is very much similar to Ace Odds. The only significant difference between the two is that OddsShark have a bet and odds calculator put together, not seperate like Ace Odds. For instance, if you type in the odds of 2.25 into the calculator you will get a display of how much that represents in American odds, Fractional odds, the implied probability and at the bottom you will see how much you win and your payout.
Sports Geek is another great calculator that you can use. It works completely the same as the OddsShark calculator, but the great thing about Sports Geek is that here you find videos and formulas that explain how all the types of odds work.
The FreeBet calculator is one of the best calculators you will find online. Firstly, you can set up the calculator to work in Fractional, American or Decimal odds. Secondly, you can use any bet type you can imagine. Single bet, double, treble, accumulator, Lucky 15, Goliath, etc. Thirdly, this calculator will show you how much your return and profit are in separate columns, and if there is any doubt or confusion about how the features of this calculator work they are extremely well explained via the info button. All in all this calculator is simple and complex at the same time, depending on what you need it for, but it definitely has the most features available out of all the calculators online.
Action Network is an amazing site as it provides a betting calculator, odds calculator, hedge calculator, parlay calculator, and an odds value calculator. All of these calculators are divided into their own unique sections with detailed instructions on how to use them and explanations of things like Expected Value (EV), parlay and hold, which is just another term used for bookmakers margin and something that you can get a full picture of in this video below.
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