Bet Calculator American Odds

American odds are a little trickier, as they operate using positive and negative odds. To convert positive odds to a decimal, divide the odds by 100 and then add 1. (+400/100) + 1 = 5.00 Converting American odds into fractional odds is simpler. A \$100 bet at +200 in American odds (2/1 in fractional or 3.00 in decimal) with a 33.33 percent implied probability has the potential to profit \$200 should it win. Yes, our odds calculator.

The Free Bet Calculator is the most advanced online sports bet calculator, allowing you to calculate the stake and profit for an extensive range of bets. All of the most popular bet types are supported, including Lucky 15, Single, Double, Accumulator, Patent and Round Robin, along with more specialised bets such as Alphabet, Magnificent 7, Union Jack, and the infamous Bookies Nightmare! Configurable bonuses and consolations can be applied to relevant bets, enabling the calculation of the full expected return.

Large Accumulators and perms consisting of up to 20 selections are possible, with full support for each way bets (including equally divided), and bets affected by Rule 4, dead heats and joint favourites.

As well as calculating the return on your winning bets, the bet calculator can be used before you place your bet, to quickly compare how the return may be affected by different outcomes for each selection. For example, can you still make a profit if only two of your Lucky 15 selections win?

If youâ€™re not sure which bet type to pick you can Compare Bet Types. This is an especially powerful tool when used in conjunction with the Maximum Total Stake setting, to equalise the stakes and ensure you stay within your spending limit.

Although the Free Bet Calculator is quick and easy to use, even for complex bets, contextual help is available via the information buttons . New visitors may also find the detailed Betting Glossary and Help pages useful.

• Probability of winning
• Odds and payouts
• Any adjustments you want to make to be conservative

We automatically calculate your ideal bet size with the Kelly Criterion and your assumptions.

## Practical Application of the Kelly Criterion To Betting Strategies

The Kelly Criterion is a formula to determine the proper size of a bet with known odds and a definite payout. With hand waving and basic math you can also use it to help guide your investment decisions.

It's most useful to determine the size of a position you should take.

### Using the Kelly Calculator

The Kelly Criterion bet calculator above comes pre-filled with the simplest example: a game of coin flipping stacked in your favor.

• The casino is willing to pay 2 to 1 on any bet you make.
• Your odds of winning any one flip are 50/50.
• Therefore, your probability is .5.. 50%.
• Your 'odds offered' are '2 to 1' (so enter 2).
• You have \$1,000 with you.

Hit calculate, and see that you should definitely take the bet. Your optimal bet size is 25% of your bankroll.

(Now, find a casino stupid enough to offer those odds!)

## Bet Calculator Free

Of course, you can see practical the practical value of Kelly betting when it comes to things with discrete results and obvious probabilities - say pot odds in a poker hand. Your mileage may vary.

What do you think about simple Kelly betting? Even though it is designed to never let you go bankrupt, Kelly still allows wild volatility swings.

## American Odds Bet Calculator

Do you prefer another strategy? Perhaps half or quarter Kelly methods? How to bet on tennis live.

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