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Online Gambling Sites > Betting Guide > Betting Payouts Explained 2024

Betting Payouts Explained 2024: How Do Sports Betting Payouts Work?

Publish Date: 19/05/2023
Fact checked by: Heather Williams

Placing bets on a sports event means you have more at stake than the mere thrill of watching your favorite team go head-to-head with long-time rivals. Naturally, bettors are more eager to know about the exciting potential of winning than the idea of losing.

Sports betting payouts are explained in this article, including the different outcomes that award a win and how you can calculate potential returns yourself. At Stake, you can use TGHSOCIAL, our exclusive bonus code to claim a bonus that favors your winning chances even more.

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Sports betting payouts – stake + profit

Sports betting payouts are the consequence of a winning bet whether moneyline, spread, totals, etc. You receive a payout if you choose the correct team to win on a moneyline bet. You win if your chosen team covers the spread indicated by the book. If you predict the right number of over or under goal totals, you win, and so on. Generally, when you win a bet, the sportsbook will pay back your stake plus a profit for winning.

Who can get a payout on sports betting?

Anyone who places a winning bet gets a payout. There are usually two outcomes for bettors, win or lose. However, some betting options allow a draw option where players who bet on the tie and win will get their stake refunded with no profits. This is called a push bet and is common in some handicap markets. Here your payout will be just a refund on your stake amount.

The Yankee bet is another kind of betting market where the results aren’t black or white. Yankee betting systems use a combination of different bets in one, so you could lose some and win some within the same betting slip.

Betting odds and payouts

Sports betting payouts are based on two factors:

  • Your stake or bet amount
  • The odds at the time you placed your stake

The odds are extremely important in sports betting. Not only do they determine how much you can win, but they also tell you the risk-to-reward ratio. Longer odds are riskier and, therefore, bring higher payouts. Vice versa for shorter odds.

American odds are the standard odds format in the US, but odds can either be European/Fractional odds or Decimal/British odds. You can learn comprehensively about betting odds on our dedicated page. But for the purpose of understanding payouts here's a summary.

Odds are the numbers with a plus or minus coefficient you see on the sportsbook. They can be moneyline, spread, totals, etc. They are usually indicated with respect to $100.

How to calculate sports betting payouts based on the odds

Calculating sports betting payouts is explained more clearly with context.

Here's a simple illustration:

  • New York Giants: -115
  • Dallas Cowboys: +135

The odds with the negative coefficient indicate the favorite to win. And it means you must bet the odds value to win $100.

The odds with the + indicate the underdog. Here, you need to bet $100 to win the odds value as profits.

Basically, if you bet on the Giants and they win, you get $215 in payouts ($115 bet + $100 profit)

If you bet on the Cowboys and they win, you receive a payout of $235 ($100 bet + $135 profit)

A cool way to remember it is that the negative odds are what you're removing from your pockets while the positive odds are what you're adding to your pockets. It's pretty simple.

You don’t necessarily have to bet in terms of $100. You can go lower or higher as you wish. In this case, calculating the profit is a simple case of cross multiplication. The standard formulae for calculating profits are as follows:

  • For minus odds – (100/Odds) * Stake
  • For plus odds – (Odds/100) * Stake

Say you want to bet $20 on the Giants to win. You get a payout of approximately $37.39 (your $20 bet back + $17.39 profits). Note that this calculation always ignores the sign.

The sportsbook will automatically indicate your potential winnings for you. So if you're not a fan of math, you don't have to worry. You can also use a sports betting calculator, several of which are readily available online. Plug in the odds and your bet amount, and you'll see what profits you stand to gain for different combinations.

Fluctuations in betting odds and payouts

Odds fluctuations do not affect the payout after your bet has been placed. This is because placing a bet locks in the odds at that specific moment. The best betting sites will accept your bet and automatically set a potential payout value based on those odds.

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Calculating sports betting payouts on parlay bets

Parlay bets are combination bets that allow you to make several selections on a single slip. Each leg (selection) has to win for you to win the entire ticket. It's riskier but offers much larger payouts.

The profit you earn here combines the multiplier points for each leg. The easiest way to calculate parlays is to:

  • Convert from American odds to Decimal odds
  • Multiply all the Decimal values to get a total multiplier point
  • Multiply the total by your stake

Here also, a betting calculator and converter will come in handy for calculating your potential returns.

Conclusion – Easy guide to how sports betting payouts are explained

Sportsbooks automatically display your potential profits as you create your bet slip. However, knowing how to calculate sports betting payouts the way the sportsbooks do is good knowledge to have at the back of your mind. Most successful bettors love to get into the nitty-gritty of the betting experience.

Fortunately, it's easy to calculate your sports betting payout with a simple formula, as highlighted above. You can also use betting calculators to ease the process, especially when dealing with parlay bets.

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Betting payouts explained FAQ

💲How much can you win from sports betting?

The amount you win from sports betting depends on two factors. We've discussed what they are and how to calculate your payouts. So check our online betting guides for all the details.

🧆How can I calculate payouts by myself?

The sportsbook will automatically calculate payouts as you place bets. And this is done using some simple formulae. Read our guide to discover what they are and other alternative ways to calculate your potential profits on sports bets.

🎲How do odds affect payouts?

Betting odds are a crucial part of sports betting. They tell you the chances of winning for each team so you can assess the risk-reward ratio. The odds are also vital to determining your potential payouts on any bet. Read our guide, where we've explained the relationship between betting odds and payouts.

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