sportsbook review odds converter

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Odds Calculator - Convert Betting Odds & Calculate Payout

Betting odds calculator allows you to insert your odds and automatically convert them to American, Decimal, and Fractional odds. It also calculates the implied probability of the bet and the profit if the bet wins. The default wager is set at $100.

• Enter the amount of money you plan to wager.
• Some bettors prefer to wager a “to win” amount. Enter the amount of money you want to win with your wager.
• American odds are displayed in hundreds and thousands (-110, +500, +1500, etc). Be sure to enter the minus sign (-) if applicable to your odds.
• Decimal odds are displayed as a number greater than one, usually with up to two decimal points (1.10, 1.90, 4.50, etc).
• Fractional odds are displayed as a fraction (1/2 , 10/11, 12/1, etc).
• Implied probability is displayed as a percentage (10%, 52.38%, 83.33%, etc).
• This is the amount you will receive if you win your bet (original wager amount plus profit).

Understanding betting odds

The way sports betting odds are presented can differ between American, Fractional, and Decimal. While they all mean the same thing, understanding how they work with your wager can be tricky. Use our betting odds and moneyline calculator tool above to convert these odds and learn more about them below.

American odds explained

American odds are presented in hundreds and thousands and are defined by the positive (+) or negative (-) value assigned. An easy way to think about American odds calculation is to think of them as currency exchanges in $100 increments.

The most common American odds you’ll see is -110 and is often seen as the juice/vig on points spreads and Over/Under Totals . 

• 110 odds require a $110 wager to win $100.

Bets with higher implied probability are given a higher negative value. For example, a bet placed at -400 odds would require you to wager $400 to profit $100.

Bets with lower implied probability are given a positive value. For example, a bet placed at +400 odds would profit $400 on a $100 wager. The positive value indicates that the odds are “plus money” and return more profit than the amount risked on the bet.

Decimal odds explained

Decimal odds are the preferred variation for most countries outside of the U.S., including Europe, which is why they are often referred to as “European odds”.

Instead of using positive and negative values or fractional equations, decimal odds display a simple value that you multiply your bet amount by to calculate your profit (money won) and overall return (profit and original risk amount).

For example, a $100 bet made at decimal odds of 3.00 would return $300 ($100 x 3.00): $200 in profit and the original $100 amount risked. A $100 bet made at decimal odds of 1.50 would return $150: $50 in profit and the original $100 amount risked.

Fractional odds explained

Fractional odds are most common in horse racing and futures markets . They’re essentially simple math: Dividing one number by another and then taking that sum and multiplying it by your bet amount.

If the larger number is being divided by the smaller number, such as 3/1, then the odds will pay out more than the original bet risked. But if the smaller number is divided by, the larger number, such as 1/3, then the odds will pay out less than the original bet risked.

For example, odds of 3/1 will pay three times (300 percent) the amount risked, so a bet of $100 would profit $300 if it wins. Odds of 1/3 will pay only 33.33 percent of the amount risked, so a bet of $100 would profit $33.33 if it should win. Odds of 1/1 will pay the same amount risked, so a bet of $100 would profit $100 if it should win.

Some fractional odds will see the dividend divided by a value greater than one – ie: 7/2 or 11/4 but is still calculated the same, multiplying the sum by the amount risked. Odds of 7/2 will pay 3.5 times the bet amount, so for example, a $100 bet placed on 7/2 fractional odds will return $350 in profit. A $100 bet placed on 2/7 odds will return $28.57 in profit.

Implied probability explained

Covers’ odds converter allows you to enter any of these odds variations and get them instantly translated into your preferred display, while also calculating the implied probability of those odds winning outright.

For example, a bet placed at +200 in American odds (2/1 in fractional or 3.00 in decimal) has a 33.33 percent implied winning probability. A bet placed at -200 in American odds (1/2 in fractional or 1.50 in decimal) has a 66.67 percent implied winning probability.

You can also define your odds conversion to a specific bet amount to see your expected profit if that wager should win. Odds with lower implied probability have larger risk and therefore pay out more compared to odds with higher implied probability and lower risk.

For example, a $100 bet at -200 in American odds (1/2 in fractional or 1.50 in decimal) with a 66.67 percent implied probability has the potential to profit $50 should it win (not total return, which would include your original bet amount). 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.

If the American odds are positive the formula is as follows: (American odds / 100) + 1 = decimal odds. If the American odds are negative, the formula is as follows: (100 / American odds) + 1 = decimal odds.

If the American odds are positive, the formula is as follows: American odds / 100 = fractional odds. If the American odds are negative, the formula is as follows: -100 / - American odds = fractional odds.

For decimal odds of 2.00 or greater, the formula is as follows: (decimal odds - 1) * 100 = American odds. For decimal odds between 1.01 and 1.99, the formula is as follows: -100 / (decimal odds - 1) = American odds.

To convert decimal odds to fractional, the formula is as follows: decimal odds - 1 = fractional odds.

The formula to convert fractional odds to decimal is as follows: (numerator/denominator) + 1 = decimal odds.

For fractions greater than 1, the formula is as follows: (fractional value) * 100 = American odds. For fractions less than 1, the formula is as follows: -100 / (fractional value) = American odds.

Yes, our odds calculator shows the implied probability of winning your bet outright in an easy to read percentage. For example, a wager at +200 in American odds (2/1 in fractional or 3.00 in decimal) has a 33.33 percent implied winning probability.

If you bet $100 on odds of -110, you would profit $90 for a total payout of $190 on a winning bet.

If you bet $10 on odds of -110 and won, you would profit $9 for a total payout of $19.

Odds of +200 mean that if you bet $10, you would profit $20 on a winning bet, for a total return of $30.

If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on this website, we strongly recommend that you carefully check your local laws before doing so. It is your sole responsibility to understand your local laws and observe them strictly. Covers does not provide any advice or guidance as to the legality of online sports betting or other online gambling activities within your jurisdiction and you are responsible for complying with laws that are applicable to you in your relevant locality. Covers disclaims all liability associated with your use of this website and use of any information contained on it. As a condition of using this website, you agree to hold the owner of this website harmless from any claims arising from your use of any services on any third party website that may be featured by Covers.

Odds Converter

Free betting odds calculator & converter.

Enter odds in any of the four major formats (American, decimal, fractional, or implied), and this bet calculator will automatically convert them to the other three formats. You can also enter the amount of your bet to calculate your potential payout.

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• Odds Converter

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OddsJam Review 2024 [35% Off Promo Code]

OddsJam is a sports betting platform that offers tools to help bettors identify opportunities in the market.

OddsJam Rating

Overall Rating : Great 👍

OddsJam Review

OddsJam is an excellent option for sports bettors looking to take their game to the next level.

OddsJam provides the tools you need to save you time and money, giving you an edge in sports betting.

Try OddsJam FREE with a 7 day trial! Use promo code SCOUT for 35% off your first month

OddsJam Pros ✅

• Identifies best bets automatically
• Owns industry leading data service
• Available on both web and app

OddsJam Cons ❌

• Can miss best bets if you aren’t ready/quick
• Can’t anchor against certain sportsbooks

In my experience, OddsJam is best for bettors that:

• Want to get an edge
• Want to save time
• Want to invest and improve as a sports bettor

OddsJam Tools

OddsJam offers three main tools:

• Positive Expected Value (+EV)
• Sports Betting Odds Screen Comparison
• Promo Optimizer

Their Positive Expected Value tool is their most popular and the tool they feature the most.

OddsJam offers four different tiers of packages at different price points:

Use OddsJam promo code SCOUT for 35% off!

As you can see, there is a wide range of price points which makes it easier for bettors to pick the right plan for them.

Which OddsJam Plan is Right for You?

To help you decide which plan you should go with, read along to see which type of bettor you identify with:

The Promo/Bonus Hunter

You are willing to do anything to get an edge, but have a small bankroll. You are constantly monitoring and taking advantage of any promo, bonus, odds boost, profit boost, or free bet available. You continue to grind these edges as long as you can find them.

Best plan : Promo Optimizer

Why : Promo Optimizer will save you loads of time , which will allow you to seek out other opportunities. The low monthly cost makes this an easy win.

The Line Shopper

You live for the odds screen. You love tweaking it to show exactly what you need to see, in the order you want to see it. Seeing the screen light up different colors triggers you to take advantage of any opportunity you see. You have the time to monitor lines and are ready to fire when you see good bets available.

Best plan : Sportsbook Screen

Why : The OddsJam Sportsbook Screen gives you all the tools you need to succeed in line shopping/odds comparison. Allowing you to customize the screen to your liking gives you a leg up, especially for time sensitive opportunities.

The Best Bets Buyer

You don’t have the time or energy to research things yourself. You want some skin in the game, but also want to have an edge. You have all your sportsbook accounts setup, you just need to know when and where to fire.

Best plan : Sportsbook Picks

Why : The Sportsbook Picks plan is perfect if you just want to get in on the action (in a smart way), without investing too much time yourself. Leaving the research and number crunching to the experts suits you just fine.

The Maximizer

You are all in on sports betting. You have the time and money to dedicate to sports betting and want to make the most of it. All you need is a way to identify opportunities quickly and you are ready to jump at it.

Best plan : Positive EV

Why : The Positive EV plan gives you access to the most tools, including the popular +EV tool. You are able to take advantage of the biggest edges as fast as possible. Your time is valuable, and you want to make sure you are getting a good ROI on the time you are investing in sports betting.

OddsJam Promo Code: SCOUT for 35% Off (+ Free Trial)

Use OddsJam Promo Code SCOUT for 35% off your first month!

In addition to your free 7 day trial, using promo code SCOUT will give you an additional 35% off your first month (up to $70 in value). There is no better way to decide if OddsJam is right for you. Sign up for a free 7 day trial, get 35% off with promo code SCOUT , and see for yourself what everyone else is talking about.

OddsJam Positive Expected Value (EV) Tool Review

The OddsJam Positive Expected Value (+EV) tool identifies bets that are significantly off market for you. The big benefit is that OddsJam not only identifies these for you, they also tell you how much of an edge there is, and even how much to bet it at if you are using Kelly/half Kelly/etc. based on your bankroll.

The Positive EV tool takes all the hard work out of monitoring the odds screen. OddsJam uses their technology and algorithms to make things as easy as possible for you to put down bets with a positive expected value.

One downside is that you have to be ready and quick for these bets. Many times these edges only exist for a short amount of time, so you have to capitalize on them as soon as they arise. There is a Refresh button at the top of the screen to get the newest batch of bets. You can also see an “Updated” column which shows you the last time the lines were updated.

The good news is that even if you miss a juicy +EV bet, chances are another one will come along soon. Many of these +EV bets come in prop markets and there are thousands of different markets that OddsJam is scanning to identify the best opportunities.

I have seen plenty of 5-6%+ edges come across the screen after looking at it for only 15 minutes or so.

Don’t get impatient if you don’t see anything you like. Be patient and wait for Positive EV bets that fit your criteria.

If you have the Platinum Plan , then you can even create Filters based on criteria like your desired percent edge, league, odds, market width, and more:

Saving this Filter will also allow you to get automated emails once bets hit your criteria. That means you don’t need to stare at the screen hitting refresh to catch the largest +EV bets.

When you do get an email alert for a Positive EV bet, it will look like this:

This example shows a +4.49% expected value by betting on the 1st Inning Total Runs Over 0.5 at +115 on PointsBet. As you can see, some of these bets are very niche and would otherwise be very difficult or impossible to find without this tool.

To get these alerts you can just setup a filter, wait for an email, and place your bet. Easy!

OddsJam Odds Screen Review

The OddsJam Sportsbook Screen allows you to easily shop lines and compare odds across legal US sportsbooks.

The odds screen is a critical tool for any serious sports bettor, and the OddsJam Sportsbook Screen gives you all the essential features you need.

It shows the odds at each sportsbook you select, the average odds among those sportsbooks, as well as the best odds for each side and where you can bet it at.

You will also see boxes highlighted in green and red showing which odds have moved recently.

One of the major benefits of the Sportsbook Screen is the number of sportsbooks and markets they offer. In addition to major markets, OddsJam offers many of the prop/alt markets that you might be interested in:

An odds screen is especially useful for player prop markets as they are generally much less efficient than main markets. This means that there are many more opportunities available for you if you know where to look:

The Sportsbook Screen also has an easy feature to track your bets. You can add it to your bet tracking by simply clicking on the bet and adding it to your bet tracking.

Another nice feature is that you can see relevant information like injuries and line movement by clicking on the icons by the game information.

OddsJam Arbitrage Review

The OddsJam arbitrage tool is a simple yet powerful tool to have in your toolbelt. OddsJam will identify markets where betting each side will result in a guaranteed profit.

This can be especially attractive to someone with a smaller bankroll or users that might have a lower risk tolerance.

The cumbersome part is going in and making two separate bets. You have to make sure you act fast as lines could move, and thus your arbitrage could disappear if you are too slow to execute on some of these opportunities.

OddsJam does tell you when the lines have moved with an error message:

OddsJam Promo Optimizer Review

The OddsJam Promo Optimizer shows you how to maximize the offers from sportsbooks. Many sportsbooks will offer promotions, bonuses, and boosts as a marketing tool to incentivize new sign ups or initiate some betting activity.

Some of the terms of these bonuses can be a bit confusing if you don’t read closely. The Promo Optimizer takes all the guess work out of it, and you can just follow the tools recommendations.

One key feature is that the tool shows you how to maximize a free bet so you can convert as much of the free bet into actual dollars in your account.

Doing this manually can be time consuming and even costly if you screw it up. The Promo Optimizer is yet another time saving tool that will allow you to stack up your edges, little by little.

OddsJam Sportsbook Picks Review

OddsJam Sportsbook Picks will send you curated picks from their algorithms as well as select experts they rely on.

The picks are automatically sent via Push Notification and/or email. To properly take advantage of this plan, you always need to be ready to place a bet. This is ideal for someone that is sitting at their computer all day and can jump on bets as they come in.

For someone who is on the go and would have to place bets through their phone/apps, this plan could be a bit harder to take advantage of. Some of their picks will not move lines right away, so it is always possible that you are still ok to bet the lines if they haven’t moved.

When betting these picks, be diligent about betting it at the number they recommend. Betting picks at a worse number (ex: -125 instead of -110) might not seem like a big deal, but it is. Your EV is very dependent on the number you bet it at, so be disciplines with your approach.

OddsJam Bet Tracker

The OddsJam Bet Tracker is useful if you are operating in the OddsJam ecosystem. If you are making all your picks/bets using their platform, they make it easy to track things.

Once you click on a bet, you can add it to your tracker.

OddsJam has a pretty nifty tracking dashboard that gives you profit/loss, ROI, and other relevant metrics by day, league, bet type, and more. It is a nice tool to have to see if using OddsJam is showing results for you.

OddsJam API

OddsJam also offers API access for anyone looking to build things on top of OddsJam data. Their API is best in class and used by some of the most recognizable companies, teams, and leagues in the sports industry.

The API is the same data source that OddsJam itself runs on, so you know it is quality. The API could power any application or project you could think of. Contact their team to get more details on pricing and information.

OddsJam Alternatives

While OddsJam has many tools and pricing plans, there might not be a perfect plan for you.

That’s OK, because there are a few alternatives that could be a good fit:

OddsJam Odds Screen Alternative: Unabated

Unabated Sports offers a similar odds screen to OddsJam with a few key differences:

Price : Unabated’s Essentials Plan is only $67/month vs. OddsJam’s $79/month

Market Makers : Unabated places a premium on market making sportsbooks and lets you pick and choose which sportsbook you want to focus on

How does OddsJam work?

OddsJam is a sports betting data company that organizes the data into useful formats like an odds comparison screen, arbitrage bets, and positive EV bets.

Do you have to pay for OddsJam?

Yes, OddsJam offers paid plans due to their premium services and value they deliver to bettors.

Who is OddsJam’s competitor?

OddsJam’s main competitor is Unabated Sports . Both offer tools to sports bettors and have slight differences in their products.

Is OddsJam the same as OddsBoom?

Yes, OddsJam acquired OddsBoom in July 2022.