13 to 5 Odds Payout Calculator
Getting odds right is key in sports betting. Knowing the payout odds of 13 to 5 is vital. Here, we will look closely at 13 to 5 odds, helping you get a handle on how to win more often in your bets.
Imagine you put $10 on a 13/5 bet. If it wins, you’d make $26 gain. Stop and think though, the odds suggest a 27.78% chance of winning. You need to consider this before you decide to bet.
It’s smart to know how to switch odds into different types. For example, 13 to 5 in American odds is +260. This means a $100 bet could make you $260. In decimals, this would be written as $3.60. For each dollar you bet, you might make $3.60 back.
Key Takeaways:
- Getting 13 to 5 odds payouts right is crucial for betting.
- Betting $10 on 13/5 odds could win you $26.00 if you are correct.
- The chance of winning with 13/5 odds is about 27.78%.
- Looking at different odds types, +260 and $3.60, helps with strategy.
- Use this information for your betting plans.
The Three Main Types of Betting Odds
When you’re into sports betting, knowing the betting odds is key. The main types are fractional odds, decimal odds, and money line odds.
Each one shows the same odds differently. Let’s dive into what each one means:
Fractional (British) Odds
In the UK and Ireland, you’ll usually see fractional odds. They show the profit to the initial bet ratio. For instance, 6/1 odds mean for every $1 you bet, you could get $6 in profit, plus your $1 back.
This type of odds clearly shows what you could win. Let’s look at an example:
Imagine you bet $10 on a team with 3/1 odds, here’s how much you could win:
- Profit: $10 x 3 = $30
- Total Payout: Profit + Initial Stake = $30 + $10 = $40
It’s easy to find the total payout using: Total Payout = Stake x (Numerator/Denominator).
Decimal (European) Odds
In Europe, decimal odds are more common. They simply show the potential winnings for every $1 you bet. For example, 3.60 odds mean you could win $3.60, making a total payout of $4.60.
These odds make it simple to see what you could win. Let’s see an example:
Imagine you bet $10 on a team with 3.60 odds, here’s your potential winnings:
- Profit: $10 x 3.60 = $36
- Total Payout: Profit + Initial Stake = $36 + $10 = $46
Money Line (American) Odds
In the United States, money line odds are more popular. They show how much you need to bet to win $100 for favorites or how much you’d win for every $100 on underdogs.
For example, if you see -200 odds, you need to bet $200 to win $100, totaling $300 if you win.
Or if it’s +150 odds, every $100 you bet could bring in $150. This means a $250 total payout if you win.
These odds clearly show the risk and reward for each bet.
| Favorite Odds | Underdog Odds |
|---|---|
| -200 | +150 |
| Bet $200 to win $100 | Bet $100 to win $150 |
| Total Payout: $300 | Total Payout: $250 |
Knowing the various betting odds helps you make smarter bets. Whether you like fractional, decimal, or money line odds, understanding them is vital for a good betting strategy.
How American/Money Line Odds Work
American or money line odds are popular in the United States. They help bettors quickly see their likely winnings. American odds are unique because they show both positive and negative numbers, unlike decimal or fractional odds. This system is key for understanding potential bets.
Understanding Positive and Negative American Odds
In the American system, positive numbers favor the underdog, while negative numbers are for the favorite. A negative like -220 means you bet $220 to win $100. So, if your $220 bet wins at -220, you get $320 back.
Conversely, positive odds, such as +180, show the profit on a $100 bet. A +180 odd could bring $280 on a $100 bet. These are often for underdogs, the less likely to win.
Winning means getting your wager back plus your winnings. This is the same for both positive and negative odds.
Widening Odds Differences for Favorites and Underdogs
American odds show a bigger gap as favoritism grows. This is because the favorite is seen as more certain to win, with smaller payouts. Underdogs have higher payouts for their lower win chances.
Take, for example, these odds:
| Team | Odds |
|---|---|
| New England Patriots (Favorites) | -150 |
| New York Jets (Underdogs) | +300 |
In this example, New England is favored at -150, while the New York Jets are at +300. Betting $100 on the favorite returns $166.67. A $100 bet on the underdog would pay $400 total.
Bettors should always think about the odds’ increasing differences. It helps assess risk and reward better.
Knowing American odds well makes betting smarter. It allows bettors to analyze and maximize their bets, whether on favorites or underdogs.
How British/Fractional Odds Work
British or fractional odds are a big thing in the UK and Ireland. They show the profit you might make compared to your first bet. For instance, odds of 6/1 mean you could get $6 for every $1 you bet. You also get your original bet back.
For a 6/1 odd horse, if you bet $10, your win could be $60. Your original $10 bet would also come back to you. This gives you a total of $70.
A bigger top number means you could win more money. But it also means that horse or team might not be expected to win. If the top number is small, the horse or team is likely a favorite. However, you’ll win less money against your bet.
The payout formula is:
Total Payout = Stake x (Numerator/Denominator)
Here’s an example:
| British/Fractional Odds | Total Payout (for a $10 stake) |
|---|---|
| 2/1 | $20 |
| 6/4 | $25 |
| 10/1 | $110 |
| 5/2 | $35 |
The table shows a bigger pair of odds leads to a bigger payout. These odds come from what bookmakers think about the horse or team’s win chances. Shorter odds mean they are favorites to win.
While fractional odds might seem new, they’re actually pretty simple to get the hang of. If you’re used to other odds types, don’t worry. Understanding these odds can really help with your betting game.
Conclusion
Knowing betting odds and how to figure out possible wins is key to a solid betting strategy. By learning the math behind odds payout, you can bet smarter and up your win chances.
Always think about the chance of winning and compare it to your guess. This makes your betting decisions smarter. No matter if you like American, British, or decimal odds, understanding the basics will help you succeed in sports betting.
When you study odds and make your betting plans, spend time understanding the numbers. This might help you win more money. Good luck with your upcoming bets!
FAQ
What are 13 to 5 odds and how do you calculate the payout?
Having 13 to 5 odds means if you wager $10, you might get $26 in profit. To find the payout, multiply your bet by the odds. In this case, it’s $10 times 13/5 which equals $26.
What is the implied win probability of 13 to 5 odds?
The chance of winning with 13 to 5 odds is about 27.78%. This is the probability implied by the odds.
What are the three main types of betting odds?
The major kinds of betting odds include fractional (British), decimal (European), and money line (American) odds.
How do fractional odds work?
Fractional odds show how much profit you get for each dollar you bet. With 6/1 odds, you win $6 for every $1 wagered, and your original stake is returned.
How do decimal odds work?
Decimal odds are the potential winnings for every $1 bet. An example is if odds are 3.60, you could win $3.60 with a $1 bet.
How do American/money line odds work?
In the U.S., American odds show how much you need to bet (-) or could win (+) with $100 stakes. These are either positive or negative figures.
What do negative American odds indicate?
Negative American odds show what you need to bet to win $100. For -260 odds, you need to bet $260 to win $100.
What do positive American odds indicate?
Positive American odds tell what you win for a $100 bet. For instance, +260 means you win $260 on a $100 bet.
How do British/fractional odds work?
British or fractional odds explain how much you can win based on your bet. With 6/1 odds, you win $6 for each $1 bet, plus you get your stake back.
Why is understanding odds payout calculation important?
Knowing how to calculate odds payout is key for betting success. It helps you make smarter bets, improving your winning odds.