Betting Odds Calculator
In gambling, the odds shown by the bookmaker do not reflect the real chances of the event happening or not happening but show the amount that the bookmaker will pay in a winning bet, along with the required bet. When formulating odds, the bookmaker includes a profit margin, which in practice means that the payout of a successful bet is less than that represented by the real chance of the event occurring.
Real Odds, Probabilities and Margin
Want to know what the bookmaker’s margin is? Enter the odds and the calculator will calculate not only the margin, but also the real probability and the real odds, which should be at zero margin.
Margins are the best way to truly compare odds. The average margin of the odds at the most popular bookmaker, bet365, is about 6%. At Pinnacle, the margins average about 2-3% and we recommend betting on most of your bets to be there, due to the low margin and the fact that they do not limit if you are a winning player. A full comparison of margin bookmakers can be found here.
Conversion of Odds into Probability
Find out what the chance of the event is according to the odds provided by the bookmaker. If you think the chance is greater and you have information to support this, you can expect a positive value.
Conversion of Probability into Odds
Find out what odds corresponds to the probability of occurrence of the event in your opinion. If your odds are lower than the one provided by the bookmaker, you can expect a positive value.