Sportsbook Odds Calculator

A sportsbook odds calculator is a handy tool for determining how much you can win on a bet. It allows you to enter your stake and the odds in American, decimal or fractional formats to see how much your winning bet will pay out. It’s important to note that the odds shown on a betting market are based on implied probabilities, and not the actual probability of an outcome occurring. This means that a bet with a higher implied probability will have a lower payout than one with a lower implied probability.

Ultimately, sports bettors are in the business to make money, so it makes sense that they would want to know how much they can expect to profit from their winning wagers. However, there are a number of factors that can affect the payout of a bet, including the amount wagered, the number of teams or players involved in a game, and the number of points or goals scored. Having a strong understanding of these variables is crucial for successful sports bettors.

Sportsbet was founded in Darwin, Australia in 1993 as the nation’s first licensed bookmaker. Over the years, it has grown into a leading online and bricks-and-mortar betting company and has helped shape the Australian betting industry.

It is currently owned by Flutter Entertainment, an Irish bookmaking holding company listed on the London Stock Exchange that also owns Betfair, Paddy Power and FanDuel. Sportsbet is considered the standout performer in Flutter’s portfolio and accounts for about a third of the company’s underlying profits.

The Sportsbet website features a range of popular sports markets and racing events. The homepage can be a bit busy at times with sliding promotions and a lot of market information on display. But the menu on the left-hand side of the page (or expandable on mobile) makes it easy to find a featured market or build a multi.

When it comes to betting on sports, the most common bets are team vs. team and Yes vs. No. However, some bets offer more than two sides to choose from, such as a total or prop bet. A total is a prediction of how many combined points, goals or runs will be scored in a matchup. If you think the two teams will combine for more than the total, place a bet on the Over. If you think the game will be a defensive slugfest, bet on the Under.

Prop bets are also available for things like the first player to score, total combined sacks in a football game or the color of a winner’s Gatorade bottle. Some of these bets are offered only on special occasions such as the Super Bowl or a UFC fight, but others can be placed at any time. Props can be a fun way to add a little extra excitement to any sporting event.