Racing Odds Calculator
Calculate potential payouts and convert between odds formats
Calculate Your Returns
Potential Returns
Quick Examples
How To Use The Calculator
- Enter your stake - The amount you want to bet
- Enter the odds - In decimal format (e.g., 3.50)
- Select bet type - Win, Place, Each-Way, etc.
- View your potential returns - Including profit breakdown
For each-way bets, also enter the place fraction (usually 1/4 or 1/5) and number of places paying. The calculator will show your returns for both win and place outcomes.
Odds Conversion Reference
| Decimal | Fractional | American | Implied Prob. |
|---|---|---|---|
| $1.50 | 1/2 | -200 | 66.7% |
| $2.00 | 1/1 (Evens) | +100 | 50% |
| $2.50 | 3/2 | +150 | 40% |
| $3.00 | 2/1 | +200 | 33.3% |
| $4.00 | 3/1 | +300 | 25% |
| $5.00 | 4/1 | +400 | 20% |
| $10.00 | 9/1 | +900 | 10% |
| $21.00 | 20/1 | +2000 | 4.8% |
| $51.00 | 50/1 | +5000 | 2% |
| $101.00 | 100/1 | +10000 | 1% |
Key Formulas
Win Returns
Stake × Decimal OddsProfit
Returns - StakeImplied Probability
100 ÷ Decimal Odds = %Fractional to Decimal
(a/b) + 1 = DecimalPlace Odds (Each-Way)
(Win Odds - 1) × Place Fraction + 1Calculator FAQ
How do I calculate my winnings from odds?
Multiply your stake by the decimal odds. For example, a $10 bet at $3.50 odds returns $35 (10 × 3.50 = 35). Your profit is $25 (returns minus stake).
What's the difference between decimal and fractional odds?
Decimal odds (e.g., $2.50) show total returns including stake. Fractional odds (e.g., 3/2) show profit only. To convert: fractional + 1 = decimal. So 3/2 + 1 = 2.50.
How do each-way bets work?
An each-way bet is two bets: one for win, one for place. If your horse wins, both pay. If it places (top 2-3), only the place bet pays at a fraction of the win odds (usually 1/4 or 1/5).
Horse Racing Odds Calculator
Our free racing odds calculator helps you work out potential payouts before placing a bet. Whether you're betting on horse racing, greyhounds, or harness racing, understanding your potential returns is essential for smart betting.
The calculator supports all common bet types including win, place, each-way, and shows you both your potential returns and profit. You can also convert between decimal, fractional, and American odds formats.
Understanding Racing Odds
In Australia, racing odds are displayed in decimal format. A horse at $3.50 means you'll receive $3.50 for every $1 bet if it wins. Your profit would be $2.50 (the odds minus your stake). Shorter odds (lower numbers) indicate the favourite, while longer odds suggest an outsider with less chance of winning but bigger potential returns.
Use our odds calculator before every bet to understand exactly what you stand to win and make more informed betting decisions at Race.com.au.