What are betting odds?

Betting odds represent the probability of an outcome and determine how much you can win from a bet. The same probability can be expressed in different formats depending on regional preferences and conventions.

Need to convert American odds to decimal? Or calculate how much a $100 bet wins? Our free NFL odds calculator instantly converts between all formats and calculates your exact payout.

Why are there multiple betting odds formats?

No matter what format you're using, all odds formats convert to the same value. Odds formats are simply different ways of writing the same number, much like the fraction ½ is just another way to write 50%.

We have different odds formats primarily due to regional and social convention:

• American odds - Standard in US sportsbooks for NFL betting
• Decimal odds - Popular in Europe and online betting sites
• Fractional odds - Traditional UK format, still used for horse racing
• Implied Probability - Shows the actual percentage chance

NFL and American sports markets typically express bets as the amount you'd need to wager to win $100, while European markets express bets as the payout multiple of your wager, and UK markets express odds as a payout ratio or fraction.

How to Use This NFL Odds Calculator

1. Enter odds in any format - our calculator auto-detects the format
2. Add your bet amount to see exact payout and profit
3. View instant conversions to all other odds formats
4. Check implied probability to see the true likelihood
5. Compare different bets by trying various amounts

Understanding Each Odds Format

American Odds (Moneyline)

American odds are the standard for NFL betting in the US. They show how much you need to bet to win $100 (negative) or how much you win from a $100 bet (positive).

Examples:

• -110 (standard spread): Bet $110 to win $100 profit
• +150 (underdog): Bet $100 to win $150 profit
• -200 (favorite): Bet $200 to win $100 profit

Quick tip: The bigger the negative number, the heavier the favorite.

Decimal Odds

Decimal odds show your total return for every $1 bet, including your stake. Popular on international betting sites.

Examples:

• 2.50: A $100 bet returns $250 total ($150 profit)
• 1.91: A $100 bet returns $191 total ($91 profit)
• 3.00: A $100 bet returns $300 total ($200 profit)

Quick tip: Subtract 1 to get your profit multiplier.

Fractional Odds

Fractional odds show the profit ratio compared to your stake. Traditional in UK betting.

Examples:

• 3/2: Win $3 for every $2 bet ($150 profit on $100)
• 10/11: Win $10 for every $11 bet ($90.91 profit on $100)
• 1/4: Win $1 for every $4 bet ($25 profit on $100)

Quick tip: Top number is profit, bottom is stake needed.

Implied Probability

This shows what percentage chance the odds represent - crucial for finding value bets.

Examples:

• 50%: Even money bet (true coin flip)
• 60%: Moderate favorite (-150 American)
• 25%: Significant underdog (+300 American)

Quick tip: If you think the true probability is higher than implied, it's a value bet.

Common NFL Betting Scenarios

If I Bet $100, How Much Do I Win?

This is our most common question! Here are typical NFL bet payouts:

• -110 (standard spread): Win $90.91 profit, $190.91 total return
• +150 (underdog ML): Win $150 profit, $250 total return
• -200 (favorite ML): Win $50 profit, $150 total return
• +300 (long shot): Win $300 profit, $400 total return

Breaking Even: Win Percentage Needed

Understanding breakeven percentages is critical to assessing return requirements:

• -110 odds: Need to win 52.38% of bets
• -150 odds: Need to win 60% of bets
• +150 odds: Need to win 40% of bets
• +200 odds: Need to win 33.33% of bets

Advanced Tips for Using Odds

Line Shopping

Different sportsbooks offer different odds. A bet at -105 instead of -110 saves you $5 per $100 wagered. Over a season, this adds up significantly.

Understanding Juice/Vig

The sportsbook's profit margin is built into the odds. Standard NFL spreads at -110 on both sides give the book a 4.76% edge. This means the implied probability calcualted from the odds is usually higher than the true probability of the event occurring.

Odds Movement

Odds change based on betting action and new information. As more bets are placed, odds will typically become more accurate, and therefore harder to beat. Betting lines "early" before they've had a chance to incorporate information from other bettors is a strategy often used by sharp bettors.

Parlay Calculations

Parlays multiply odds together. Use our calculator to see how combining bets affects your potential payout and required win probability.

Related NFL Betting Calculators

• Sportsbook Hold Calculator - See how much juice you're paying
• Parlay Calculator - Calculate multi-bet payouts
• Hedge Calculator - Lock in profits with hedging
• Cover Probability Calculator - Advanced spread analysis