- 1). Divide the first number of the odds by the second number to convert the odds to decimal format. As an example, 11-2 odds would convert to 5.5.
- 2). Add one to this figure, since you will be receiving your original bet back as well. In the example, the number becomes 6.5.
- 3). Multiply this number by your original bet to calculate total winnings. In the example, if you had bet $200, you would receive $1,300.
- 4). Subtract your original bet to calculate the actual amount gained. In the example, you would have walked home with $1,100 more money than when you started.
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