There are a few things to consider when calculating odds payout. The first is the type of bet being made. There are three types of bets that can be made in gambling- the money line, the point spread, and the total. The money line is simply who will win the game outright. The point spread is how many points one team is favored by over another. The total is how many points will be scored in the game by both teams combined. So, for example, if you were betting on a football game and saw that the Patriots were -7 on the point spread, it means they are favored to win by 7 points. If you bet on them and they won by less than 7 points, or if they lost the game altogether, you would lose your bet.
The next thing to consider is what odds are being offered. Odds can be expressed in several ways but most commonly as either fractions or decimals. For example, 1/2 odds would mean that for every $2 you bet you would win $1 profit; thus your payout would be $3 (your original bet plus your winnings). Decimal odds are just a different way of expressing probability- 2 decimal odds means there is a 50% chance of an event occurring (because 100% divided by 2 equals 50%). So using our previous example, if decimal odds for Patriots -7 were 1.50 then this means there is a 50% chance they will cover the 7 point spread (win by more than 7 points).
Finally, you need to multiply your stake by the decimal odd to calculate your potential payout should your prediction prove correct e.g.$10 x 1.50 = $15 potential payout). In contrast, if fractional odds are being offered then your potential profit will be calculated by dividing the denominator into the numerator e.g.($10 / 2) = $5 potential profit).