Ever wondered what your potential betting payout will be? Our latest guide of betting payouts explained will outline how you can use the latest betting payouts formula to know where you stand. Get to know betting payouts today.
These days, there are a number of useful betting calculators that do the trick for you. However, it’s important to know exactly what betting payouts formula to use. This also enables you to spot potential payouts at a glance. Streamline your betting process by reading our latest guide.
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It’s important to know what a betting payout means. Of course, the term itself refers to the amount of money that will be paid out on successful bets and includes
sportsbook promotions. However, the actual amount of money that constitutes your winnings will depend on the odds format that you use.
For the purposes of our latest guide, we’re going to focus on American odds. We’ll provide you with an overview of betting payouts when using fractional or decimal odds afterwards. Bear in mind that our latest guide is a great way to gain a better perspective of what to expect when you bet online. We don’t want you overshooting your expectations and then feeling cheated after the fact. Use our guide to betting payouts explained and you’ll know to expect when betting online.
Understanding American odds and spreads and different bet types
The first order of business is to understand how American odds and spreads function. If you have bet before, then you may well be familiar with the ins-and-outs of these odds. American odds and spreads will always have a plus and minus sign attached to them. Thus, you might come across odds and spreads of -150 or +240. Similarly, you might find a
betting deal
points spread of -4.5 or +4.5. Either way, it’s important that you know that the minus sign indicates the favorite while the plus sign indicates the underdog. Let’s take a look at several examples for popular bet types. Betting payouts explained is always easiest with a practical example or two!
Moneyline bets - betting payouts explained
Moneyline bets require you to simply assess odds and then bet on who you think will win. There’s nothing complicated about it. Let’s assume that the Denver Broncos are playing the New York Jets. The odds and spreads on offer are:
Broncos:
-130
Jets:
+175
It is clear that the Broncos are favorites. But, what is your betting payout based on whether you bet on the Broncos to win or the Jets to win? If you decide to bet on the Broncos, then you’ll be betting on odds of -120.
The formula to calculate your expected payout on minus odds goes as such: Divide 100 by the odds, then multiply that amount by what you bet. For instance, 100/120 x $100 = $83.33 is the amount that you will win if you bet $100. However, the total payout is $183.33.
The formula to calculate payouts for betting, as well as
live betting, on the underdog goes as follows: Divide the odds by 100 and then multiply by your wager amount. For instance, 175/100 x $100 = $175 is the amount you will win if you bet $100. The total payout will be $275.
In essence, you can always quickly tell what you can expect to win for every $100 wagered with moneyline odds. Using the above example, you will win $175 on odds of +175 for every $100 wagered. However, you need to wager $120 on odds of -120 in order to win $100.
Points spread betting - payout calculation
You will come to find that points spread payout calculations are the same as what you have learned above. However, there are a couple of things to take into consideration. Points spreads are applied to even the playing field. Thus, you might come across odds and spreads of:
LA Lakers:
-7 (-110)
Chicago Bulls:
+7 (-110)
Your betting payout for either side will be $100 for every $110 wagered. Thus, the total payout will be $210 if you wager $110. However, with spreads it is possible that the game ends with a 7 point difference. Then, the bet is a ‘push’ meaning the result is basically a tie. In this instance, your bet will be refunded but you won’t receive a payout over and above this.
Total bets - calculating betting payout
Totals, such as an over/under bet, will require you to bet on the total points scored in a game. You will bet on whether the total amount is over or under the actual outcome. In this instance, it is possible to experience a ‘push’ bet as is the case with spread betting. Once again, your payout will simply be a refund of your initial stake.
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It’s always good to cover all of your bases. Yes, in the US you will come to find that sportsbooks use American style odds. However, getting to know how to read all major formats and potential payouts will bolster your confidence and allow you to always keep track of betting opportunities.
Let's assume that the Toronto Maple Leafs and the New York Islanders are playing against one another. The decimal odds that you can expect have been posted on a popular sportsbook and read as follows:
Maple Leafs:
1.40
Islanders:
3.00
Decimal odds simply provide you with an outline of what you can expect to win for every $1 wagered. We’re going to expand this to assume we’re betting $100 on each of the two teams. The actual formula that you should use to calculate the total payout is:
Total payout
= Stake amount x odds
Therefore, if you bet $100 on the Maple Leafs (and they win), then you will receive a total payout of $140. Your actual winnings will equal $40 with your initial stake making up the rest of the amount. If you bet $100 on the Islanders (and they win), then you will receive a total payout of $300. Your initial stake is equal to $100 and your winnings will equal $200.
Betting payouts explained - fractional odds
We’re going to review our betting payouts explained based on fractional odds with another straightforward example. Let’s assume you love to bet on soccer and Orlando City and New York City are up against one another. The fractional odds read:
NY City:
2/1
Orlando City:
1/3
The first number in fractional odds tells you how much you will win. The second tells you how much you will need to wager to win the amount. Simply put, you add both of the numbers together to find out what your total payout is.
If you bet $1 on NY City, and they win, your total payout will be $3. This includes your initial $1 wager as well as $2 in winnings. If you bet $3 on Orlando City, and they win, then your total payout will equal $4. This includes your initial stake of $3 and $1 in winnings.
Make use of betting calculators online
Having betting payouts explained to you is important. However, you should also take note of the fact that you can make use of betting calculators. These calculators will ensure that the betting payout you can expect is accurate. There’s no need for you to stumble about doing mental arithmetic if it’s not your forte, we’ve got a
sportsbook review
ready for you. We’re certainly not taking away from the fact that knowing betting payouts explained is great. We simply wish to bring your attention to the wonderful betting tools that have come to the fore in recent years.
If you do decide to use a betting calculator, then you will simply need to enter in the different numbers that are relevant to your bet. If you are using American odds and spreads, then you select this option and enter the odds and spreads that you are betting on. You will also need to enter the bet amount you wish to wager. You’ll then be given the amount that you can expect to win if your bet comes off. Keep in mind this is the amount minus your initial stake. If you want to know the total payout, then add the initial stake with the amount given by your calculator.
Stay at the forefront with our guides - extensive betting coverage
Our guide on betting payouts explained, much like
yankee betting meaning, are only a couple of guides that make up the entirety of our resources. We recommend that you check in with us whenever you feel the need to find out about potential sportsbooks, bonuses, or new betting strategies and tips. Our experts continue to bring you up-to-date coverage of everything you could possibly wish for when it comes to online betting in the US.
Conclusion - betting payouts explained
In summary, we hope that you have come to find that betting payouts explained isn’t as confusing as it might first seem. Calculating your total payout or potential winnings can be with relative ease. Once you get the hang of it, you’ll be able to assess these payouts by doing a quick calculation in your head. However, you can also consult a betting calculator. Either way, knowing what the betting payout is for your online sports bets is yet another step in becoming a more advanced bettor.
We believe that it’s always a good idea to keep track of the latest developments in the world of online betting. Take a look at the yankee betting meaning if you wish to diversify your betting options and approach in the future. It’s never too late, or early, to add something new to your betting arsenal.
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There are a wide number of different formulas that pertain to online betting. It is important that you get to know the different formulas if it applies to your betting strategy or if you simply are interested in how things work. Read our latest guide to betting payouts explained for more on the matter. We have made sure that this guide is easy to follow and even easier to put into practice.
❓Are betting odds & payouts fair?
One of the biggest issues that surround online betting is whether things are fair. One way that you can mitigate any chance of experiencing an unfair encounter is by making use of reliable sportsbooks. But, when it comes to payouts and odds/spreads you will need to keep your wits about you. Read our latest guide on sports betting payout explained and you’ll be set to start betting with the required knowledge.
🏈What are the best sportsbooks for betting payouts?
You might come across the fact that various sportsbooks advertise great payouts for a range of different betting markets. However, you must take into consideration the fact that this isn’t necessarily true. There are always some sportsbooks which tend to hide behind their fine print. Knowing where you stand will ensure you don’t end up surprised and short-changed at the end of the day. Read our latest guide to find out more about which sportsbooks and
sports betting apps
honor betting payouts online.
💯Is it possible to guarantee a sports betting payout?
You must realize that nothing is guaranteed when it comes to online betting. Unfortunately, you won’t always be able to claim a payout on your wagers. If this was the case, then there wouldn’t be any online sportsbooks in existence. Take a look at our latest guide to find out more about how to keep your expectations in check.
🔖What are the maximum betting payouts online?
The maximum betting payouts tend to change based on the sportsbook and sports market in question. Naturally, you can expect bigger payouts for bigger events such as the Super Bowl or World Series. In our latest guide, we have outlined all you need to know about betting odds & payouts that are inherent to online sportsbooks in the US.
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