Pennsylvania Betting Odds Calculator: Calculate Sports Betting Odds to Win

Want to know how much you'll win on your next bet? Our betting odds calculator can help! Simply enter your stake and the odds (in American, Fractional, or Decimal format), and we'll calculate your potential payout and total profit. This calculator works for any sportsbook in Pennsylvania, so bookmark this page for easy reference!

How to Use the Betting Odds Calculator

Using this odds calculator is straightforward. You will see eight fields, but you need to fill out three. 

1. Select the type of odds (American, Decimal, or Fractional)
2. Input the bet amount
3. Input the odds specific to the bet

As soon as you do this, you will automatically see your total payout, profit made and odds percentages. 

Understanding the Odds Calculator

Its important for any bettor have a basic understanding of how to make a sports bet. This includes learning about odds and more. 

Three Types of Odds

These are all just different ways of expressing the same thing: the likelihood of an event happening (a team winning, a specific score, etc.) and the potential payout you'd receive if your bet wins.

1. American Odds (Common in the US):

• Shown as a number with a plus (+) or minus (-) sign.
• Negative (-) odds: These represent how much you need to wager to win $100. For example, -110 means you need to bet $110 to win $100 (plus your original $110 back for a total return of $210). The higher the negative number, the stronger the favorite.
• Positive (+) odds: These represent how much profit you would make on a $100 bet. For example, +300 means a $100 bet would win you $300 profit (plus your original $100 for a total return of $400). The higher the positive number, the bigger the underdog.

2. Fractional Odds (Common in the UK and Ireland):

• Expressed as a fraction (e.g., 7/1, 9/2).
• The first number represents the profit you would make, the second number is your stake.
• So, 7/1 means for every $1 you wager, you would win $7 profit (plus your original $1 for a total return of $8).

3. Decimal Odds (Common in Europe):

• Shown as a decimal number (e.g., 1.50, 4.20).
• This number represents the total return you would get if your bet wins (including your original stake).
• Therefore, 1.50 means a $100 bet would return $150 (your $100 wager back plus $50 profit).

Let's say Team A is a favorite to win against Team B. Here's how the odds might look in different formats:

• American: Team A -200, Team B +180
• Fractional: Team A 1/2, Team B 9/1
• Decimal: Team A 1.50, Team B 9.00

No matter the format, they all convey the same information: Team A is favored to win, and a winning bet on them would yield a smaller return compared to a winning bet on the underdog Team B.

In general, in Pennsylvania, you will probably only use American odds. However, operators like FanDuel Sportsbook PA allow you to choose how odds are displayed.

Implied probability in sports betting refers to the likelihood of an event happening, based on the odds offered by the sportsbook. It's not the actual probability, but rather what the sportsbook thinks the chance of winning is, factoring in their own profit margin (also known as the house edge).

Here's a breakdown to make it clear:

• Actual Probability: This is the true chance of something happening, regardless of betting odds.
• Implied Probability: This is the chance of something happening, as suggested by the odds offered by the sportsbook.

Why is Implied Probability Important?

While sportsbooks set odds based on their analysis of the game, they also build in a profit margin to ensure they make money in the long run. So, the implied probability won't be the exact chance of an event happening.

Example: Implied Probability with American Odds

Let's say the Eagles are favored to win against the Giants, with American odds of -200 for the Eagles and +150 for the Giants.

• Implied Probability for Eagles: (200/ (abs(200) + 100)) x 100 = 66.67%
• Implied Probability for Giants: (100 / (150) + 100)) x 100 = 40%

Understanding the Example:

The implied probabilities here (around 66% for Eagles and 40% for Giants) don't add up to 100% because the sportsbook has factored in its profit margin.

Using Implied Probability:

By comparing the implied probability with your own assessment of the game's chances, you can identify potential betting opportunities. If you think a team has a higher chance of winning than the implied probability suggests, it might be a good value bet.

Remember: Implied probability is a helpful tool, but it's not a guarantee. Always do your research and consider other factors before placing a bet.

Understanding Odds Boosts

Odds boosts are a form of PA sportsbook promos that increase the original odds for a qualifying bet. For example, You may want to bet on the Eagles Super Bowl Odds at +1000- but if you use a +500 odds boost token, your bet will be at +1500. This gives you the potential to win a higher pay out.

Why It's Important to Know Your Odds

Odds are at the core foundation of all sports betting. They tell you:

• How likely it is for something to happen, or occur.
• What your payout will be should you place a bet on that event happening.

All sportsbooks have odds that change based on a variety of factors. These could include anything from the weather to injuries, popularity of the player, and so forth. Any odds you are offered is related to the implied probability of that outcome happening. Generally, if you are able to bet on something which has a low implied probability, you will make more money if the bet wins. 

Take for example, a moneyline bet between the Pittsburgh Steelers and Buffalo Bills during the NFL Playoffs. The odds for the Bills will almost certainly favor them winning - because historically they win and the likelihood of continuing to win is high. You might see high odds for the Steelers to win because the likelihood of them winning is much less than the Bills. That also heavily impacted future markets like the Steelers Super Bowl Odds.

With that said, it can still be favorable to bet on the Steelers to win - and if they do - your payout would be much higher than if you had bet on the Bills. 

You may find different odds for the same event depending on which PA sportsbook app you bet with. Shop around to get the best odds possible. Even differing odds of -110 versus -115 can save you money - especially if you are a regular bettor. 

Sportsbooks with the most competitive odds include:

🔥Fanatics Sportsbook PA

🔥Betway Sportsbook PA

🔥 BetMGM Sportsbook PA