How to calculate winnings from odds: the formula
Two numbers describe every winning bet:
- Total return = stake x decimal price. This includes your stake.
- Profit = total return - stake. This is what you actually won.
Decimal odds make the math one multiplication, which is why our tools convert every price to decimal first. If your book shows American odds, the next section converts them. If you would rather skip the arithmetic, our bet payout calculator shows the profit and total return for any stake and price.
American odds payout: converting to decimal
| American | Formula | Decimal |
|---|---|---|
| +150 | 1 + 150 / 100 | 2.50 |
| +1723 | 1 + 1723 / 100 | 18.23 |
| -110 | 1 + 100 / 110 | 1.909 |
| -250 | 1 + 100 / 250 | 1.40 |
For plus odds, divide by 100 and add 1. For minus odds, divide 100 by the number (without its sign) and add 1. The odds converter switches between American, decimal and fractional in one step, and our guide to the plus and minus signs covers the basics.
Worked examples
| Stake | Price | Decimal | Total return | Profit |
|---|---|---|---|---|
| $4.46 | +1723 | 18.225 | $81.28 | $76.82 |
| $110 | -110 | 1.909 | $210.00 | $100.00 |
| $25 | +150 | 2.50 | $62.50 | $37.50 |
| $50 | -250 | 1.40 | $70.00 | $20.00 |
The first row is the example our tools use in their help text: $4.46 x 18.225 = $81.28 returned, and $81.28 - $4.46 = $76.82 profit. Books round to the cent, so a slip can differ from your own math by a penny.
Fractional odds work the same way once you see the pattern. A price of 5/2 means you win 5 for every 2 you stake, so $10 at 5/2 profits $25 and returns $35 in total. Decimal odds are standard in Europe, Canada and Australia, fractional odds in Britain and Ireland, and American odds in the United States. They are three spellings of one price, and the payout never depends on which spelling your app happens to show.
To win vs returns on a bet slip
Sportsbook apps use two labels that are easy to mix up. To win means profit only. Returns, sometimes called payout, means the total with your stake included. A $25 bet at +150 shows to win $37.50 and returns $62.50. Some apps let you type the amount to win instead of the stake, so check which box you are filling in. Our page on how to read a bet slip walks through every field.
Why show both? Bettors think in different ways. Someone backing favorites often wants to know how much to risk to win a round number, while someone backing underdogs wants to know what a fixed stake brings back. When a settled ticket shows a different number than you expected, the usual culprits are a price change before confirmation, a rounding rule, or a stake typed into the wrong box.
Parlay and exchange payouts
For a parlay of separate games, multiply the decimal prices of the legs. Two legs at -110 are 1.909 x 1.909 = 3.645, so a $20 parlay returns $72.89 and profits $52.89. A same game parlay does not follow this rule, because the legs are linked and the book sets its own price; see same game parlay. A round robin is a bundle of smaller parlays, so its payout is just the sum of every winning combination's return. Teasers usually pay from a fixed table published by each book rather than from multiplied leg prices.
Exchanges add a fee. ProphetX takes 2 percent of net winnings, so $100 at +129 profits $129 before the fee and $126.42 after it. Our tools always show exchange payouts after the fee. More in what is a betting exchange.
Pushes, voids and boosts
- Push: the result lands exactly on the line and the stake comes back, so the total return equals the stake and the profit is zero. See what is a push.
- Parlay push: most books drop the pushed leg and reprice the ticket with the remaining legs.
- Void: the bet is cancelled under the book's rules and the stake comes back.
- Boost: a promotional price increase. Calculate the payout from the boosted price shown on the slip.
Cash out is different again. It is the book offering to buy your open ticket back before the game ends, at an amount it chooses. That offer usually includes a margin, so it pays less than the fair value of your position. Before accepting, compare it with what a hedge on the other side would leave you, using the hedge calculator.
Two more house rules change payouts. Bonus bets: when you stake a promotional credit, most books pay only the profit and keep the stake, so a $10 bonus bet at +150 returns $15, not $25. Maximum payouts: books cap what a single ticket or a single day can pay, so a long parlay can be limited below what the multiplication says. Both rules live in each book's terms, and both are worth reading before a big ticket.
Payouts and implied probability
The decimal price and the implied probability are two views of one number: implied probability is 1 divided by the decimal price. A decimal price of 2.50 implies 40 percent. That link is what turns a payout into a decision. If you think a bet wins more often than the price implies, the payout is generous; if less, it is not. For instance, a decimal price of 1.80 implies 55.6 percent, so an honest estimate of 58 percent makes the payout attractive and an estimate of 52 percent says look elsewhere. That comparison is the heart of expected value, and our calculators and boards all run on the same payout math, described on how we test our tools.
Your next step
Frequently asked questions
How do betting payouts work?
A winning bet pays your stake times the decimal price, and that total includes your stake back. Profit is the part above your stake. Losing bets pay nothing, and pushes return the stake.
What does to win mean on a bet slip?
It means profit only, not counting your stake. The returns or payout figure is the total you get back, with the stake included.
How do I calculate a payout from minus odds?
Profit is the stake times 100 divided by the odds. At -110, a $110 stake profits $100 and returns $210. Or convert to decimal (1 plus 100 divided by 110) and multiply by the stake for the total return.
How are parlay payouts calculated?
Multiply the decimal prices of every leg, then multiply by the stake for the total return. That works for parlays of separate games; same game parlays are priced by the book's own model.
Your next step
- 1Learn itBetting Payouts (this page)
- 2Apply itHow to read betting odds →
- 3Run itBet Calculator →
- 4Master itDay 2: How sportsbooks make money →
Related terms
21+. For entertainment and educational purposes, not financial advice. If gambling stops being fun, take a break. 1-800-GAMBLER. Regulated US books only.