How to calculate betting odds
The betting calculator helps to calculate the possible winnings. The algorithm is simple: you specify the amount you bet and the odds that the bookmaker gives on this event. The calculator uses a calculation formula to work. It will calculate how much you can get if the bet you choose is successful.
How to calculate the odds?
This is the question users often ask the search engine, although what they really want to know is what the winnings will be if they bet on certain odds. The answer is simple: to understand what the winnings will be, it is enough to multiply the bet amount by the odds themselves. For example, a boxing match. The victory of one of the opponents is evaluated by the odds of 1.60, and the bookmaker gives a quotation of 2.70 for the victory of the other. We bet 5 thousand KSh on the first opponent. If he wins, the bookmaker will pay us the sum got by multiplying the stake by the coefficient: 5000 x 1.60 = 8000 KSh. This is our winnings.
Note that the amount received according to this formula also includes the amount of the bet placed. By subtracting the staked amount from it, we will find out what the net profit from the successful bet is.
How to calculate the winnings by odds?
So, the size of the winnings directly depends on both the size of the bet and the odds. It is easy to calculate it according to the above formula but to make it clearer, here is a table where you can see how much money the bookie will pay when betting a certain amount at a certain odd. The vertical line shows different betting sizes, the horizontal line shows different odds. The payout amounts in some cases are rounded down, so as not to show pennies. In the same way, it is possible to calculate winnings at any other bet amount and any other odds: you just need to multiply these values. If you subtract the size of the bet made from the resulting number, you will get the amount of net profit on such a bet. Naturally, only in case of winning.
If the answer to the question "how to calculate the odds" talks about how it does the bookmaker's office, we can say that it is the fruit of its analysts. They collect information on the athletes involved in the competition and determine the favorite (odds for his victory will be lower than the odds for the opponent's victory). Then the odds put out reacts to the players' bets - the more money people bet on a certain athlete or team, the stronger the favoritism (and thus the lower the odds).
The higher the odds, the higher the potential profit. But the risks rise in the same proportions. If a 5,000 KSh bet on the Kenya national team's victory at odds 1.60 gives us 8,000 KSh, then a successful bet at 2.00 gives us 10,000 KSh.