Odds Converter and Parlay Calculator
How it works
Canadian sportsbooks show odds in American format, such as +150 or -200, or as decimal odds such as 2.50 or 1.50, and both describe the same price. Positive American odds tell you the profit on a 100 dollar stake, negative ones how much you must stake to win 100 dollars, and decimal odds give the total return for each dollar including the stake. Fractional odds like 5/2 are the British form and state the profit against the stake. The converter turns any of the three into the other two and shows the implied chance, which is one divided by the decimal price.
A parlay links several selections into one bet that wins only if every leg wins. Its decimal odds are the product of the decimal odds of the legs, so three legs at 2.00, 1.50 and 3.00 pay 9.00, or 90 dollars back on a 10 dollar stake. The calculator accepts each leg in American, decimal or fractional form and shows the total odds, the payout, the profit and the chance that every leg wins at the implied prices. Each extra leg multiplies the bookmaker's margin as well as the price, which is why long parlays are profitable for sportsbooks.
The margin tool adds up the implied chances of every outcome in one market. A fair market would add up to exactly 100 percent, and the part above 100 is what the bookmaker keeps, often around 4 to 5 percent on a two-way line priced at 1.91 each side. Comparing margins across sportsbooks shows which one prices a market more generously before you place anything. Betting is for adults, 19+ in most provinces and 18+ in Alberta, Manitoba and Quebec, and every stake should come from a budget you can afford to lose.
How to use it
Type into any of the three converter boxes and the other two update at once, with the implied chance below them. In the parlay calculator, enter each leg's odds in any format, add up to twelve legs and change the stake to see the payout. The margin tool takes two or three decimal prices of one market and returns the bookmaker margin as a percentage. Everything is calculated in your browser and nothing is stored or sent.