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Betting ROI Calculator 2024: How to Calculate Your Sports Betting Returns

Last Updated on 07.04.2024
Fact checked by: Jackson T. Pierce

Betting tools play a crucial role in simplifying complex betting concepts for bettors. The betting ROI calculator, for example, enables you to determine your return on investment (ROI) when betting on sporting outcomes and adjust your strategy accordingly.

ROI is a common concept in the investment world, where you’d use it to analyze your portfolio and establish how much return to expect relative to the risk. Similarly, in sports betting, you can use a specialized calculator to evaluate the potential of sports wagers, and if they are viable.

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ROI calculator

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What is a betting ROI calculator?

ROI measures the efficiency of an investment. In sports betting, it’s a way of working out your expected return—or loss—from each wager. After all, it’s no secret that sports betting is a gamble, and not every wager will win. So, instead of placing wagers blindly, you take a calculated risk by figuring out how much you can win or lose for every bet.

Savvy bettors can usually get away with quick mental calculations for simple wagers, but things get a little difficult when complex bets, such as multi-selection parlays are involved. If you’re like me and have never been a fan of math, a betting ROI calculator can save the day.

You simply open the app and enter the relevant details like your stake and the odds for your selection. The calculator does the rest by computing the implied probability of the wager and how much you can expect to win or lose.

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Why is a sports betting ROI calculator important?

The first reason I use a betting ROI calculator is to ease up on the mental gymnastics of calculating expected returns or losses on my own.

Secondly, using an ROI calculator allows for smart wagers. For example, you can determine the stake needed to give you a positive return on a given bet. The same is true for an arbitrage betting calculator, which does far more complex math to help you wager both for and against an outcome in such a way that your losses are minimized and your potential to profit increases.

You can then assess which wagers are the most worthwhile. The same calculator gives you information to help adjust your picks. Using an ROI calculator is also a good way to keep a close eye on your bankroll so you don’t overspend and to get an overview of your betting history.

ROI calculator example

To calculate the ROI for a given wager, you divide the return by the total cost of the wager. The formula is ROI = Winnings (Wager – 1). Still can’t get around the concept? That’s why our calculator was designed for — to take all the mental gymnastics out of your hands.

You can even punch in numbers and get the yield, all without having to create a chart like the one below:

MatchOddsStake ($)OutcomeWin ($)Gain ($)
Chelsea vs Man U1.2520Win255
Manchester City vs Bayern Munich1.6020Win3212
Arsenal vs Everton2.5020Lose0-20
Aston Villa vs Borussia Dortmund1.4020Win288
Liverpool vs Tottenham2.2020Win4424
TOTAL10012929

How to use a betting ROI calculator

Using a betting ROI calculator is pretty simple. Ensure you already know the amount you want to stake and the odds to use before you start.  A parlay calculator works in pretty much the same way, but you can enter odds for multiple events. Next, you follow these steps:

  1.     Launch the ROI calculator.
  2.     Pick your preferred odds format from the options available: fractional, decimal, or American.
  3.     Enter the amount you wish to wager.
  4.     Enter the estimated probability of winning.
  5.     Input the odds.
  6.     Hit “Calculate”.
  7.     A breakdown showing the implied probability as a percentage and your potential return is displayed.

ROI calculator pros and cons

Inasmuch as a free sports betting ROI calculator is pretty helpful for the most part, I have to say it has its flaws. Have a look at some of the benefits and disadvantages of using one.

Advantages
  • Free to download
  • Allows you to make informed betting decisions
  • Get an idea of what you can expect to win with regard to profit
  • Helps monitor your bankroll
  • Allows you to adjust bet sizes accordingly
Disadvantages
  • It doesn’t factor in other variables that affect game outcome
  • Steep learning curve for some

Conclusion

If you’re like me and don’t have unlimited bankroll, you need to know if every wager is worthwhile. A betting ROI calculator helps you decide whether to proceed, or to shelve a particular bet. That along with helping you decide between two different bets and choosing the one offering the best potential for success.

All you need to do is provide information like the stake, and the odds. The calculator does the rest. Of course, limitations exist, including the inability to consider some variables that affect outcomes. Just like the odds calculator, the  ROI calculator certainly won’t help you find winning wagers, but it can help you make smarter betting decisions, and that’s what matters.

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Betting ROI calculator FAQs

🧮 How do I use an ROI betting calculator?

You open up the calculator and enter your bet amount, and odds for the wager. You press “Calculate”, and it gives you the percentage of winning probability, and the expected returns for the wager.

🤔 What is the difference between an ROI betting calculator and a hedge bet calculator?

Both help you establish the potential returns for a given wager. The only difference is that a hedge bet calculator is used for a specific type of sports betting, known as hedging, where you are placing two opposing bets, rather than just a single bet, on a sporting outcome.

🏆 Can an ROI betting calculator help me find winning wagers?

No, it can only shows you the implied probability of a win and the expected returns for a wager based on the stake and odds you supplied.

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Emily CarterJackson T. PierceMike GoodpasterJP ZhangBrendan Heffernan
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Jackson T. Pierce
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