Understanding Bet Types
Before using the calculator, it helps to understand the different types of bets and how winnings are calculated for each:
Single Bet
One selection at fixed odds. Lowest risk, easiest to win. Perfect for beginners.
Parlay (Accumulator)
Multiple selections combined. All must win. Higher risk but bigger potential returns.
System Bet
Multiple combinations covered. Some selections can lose and you still win.
How Betting Calculations Work
Single Bet Formula
Single bets are straightforward. If you bet $100 at odds of 2.50, your total return if you win is $250 ($100 x 2.50). Your profit is $150 ($250 - $100 stake).
Parlay (Accumulator) Formula
In a parlay, odds are multiplied together. If you combine three selections at 1.50, 1.80, and 2.00, your combined odds are 5.40 (1.50 x 1.80 x 2.00). A $100 stake would return $540 if all three win.
Stake: $100
Selection 1: Manchester United to Win @ 1.50
Selection 2: Over 2.5 Goals @ 1.80
Selection 3: Both Teams to Score @ 2.00
Combined Odds: 1.50 x 1.80 x 2.00 = 5.40
Total Return: $100 x 5.40 = $540.00
Profit: $540 - $100 = $440.00
Odds Formats Explained
Different regions use different odds formats. Our calculator uses decimal odds, which are most common internationally:
- Decimal Odds (European): Shows total return per unit staked. Odds of 2.50 means $2.50 returned per $1 bet.
- Fractional Odds (UK): Shows profit relative to stake. 3/2 means $3 profit for every $2 staked.
- American Odds (US): Positive shows profit on $100 stake. Negative shows stake needed to profit $100.
Quick Odds Conversion
To convert fractional to decimal: divide the fraction and add 1. So 3/2 = (3÷2) + 1 = 2.50 decimal.
To convert American to decimal: for positive odds, divide by 100 and add 1. So +150 = (150÷100) + 1 = 2.50 decimal.
Smart Betting Tips
- Never bet more than 5% of your bankroll on a single bet
- Parlays should be even smaller - 1-2% maximum per parlay
- Set daily/weekly limits and stick to them
- Track all your bets to understand your win rate
- Don't chase losses - stick to your predetermined stake sizes
The Parlay Trap
While parlays offer exciting potential returns, they're statistically harder to win. Adding more selections exponentially decreases your probability of winning. A 5-selection parlay with each pick at 50% probability has only a 3.125% chance of winning all five.
Value Betting
The key to long-term success isn't picking winners - it's finding value. A selection has value when your estimated probability of winning is higher than the implied probability from the odds. Use this formula:
Understanding Risk vs Reward
Every bet involves balancing risk and potential reward:
- Single bets: Lowest risk, modest returns, highest win rate
- 2-3 selection parlays: Moderate risk, good returns, reasonable win rate
- 4+ selection parlays: High risk, big returns, low win rate
- System bets: Medium risk, protects against some losses, but splits stake
Ready to Place Your Bets?
Use our calculator to plan your bets, then visit Betpas for competitive odds
Go to BetpasResponsible Gambling Reminder
Sports betting should be entertainment, not a way to make money. Set strict limits on how much you can afford to lose, never bet money you need for essentials, and take breaks if betting stops being fun. If you're concerned about your gambling habits, seek help from professional organizations.
For more betting guides, check out our articles on sports betting, live betting, and the Martingale calculator.