See exactly how much money you can expect to make betting on sports with the Sportsbook Scout Earn Calculator.
Want more details on the full range of possibilities of earning in sports betting?
Download the free Earn Calculator in Excel here:
How to Calculate How Much Money You Can Make Sports Betting
The Sports Betting Earnings Calculator is very simple, having just 6 inputs:
- Kelly Multiplier
- Number of Days
- Average Edge/Expected Value/CLV
- Number of Bets Placed per Day
Starting with your bankroll, this value represents how much money you are dedicating to betting on sports. Note that this value should not be how much money is in your bank account. You should set aside a (small) amount to dedicated to sports betting. This amount will represent your bankroll.
The Kelly Multiplier represents how aggressive you want to be with your betting. The Multiplier will tell you how much of your edge you should be betting as a percent of your bankroll.
For example, if you say you have a 3% edge on a bet and a $100 bankroll, then a Kelly Multiplier of 1 would tell you to wager $3. If your Kelly Multiplier was 0.5, it would recommend a $1.50, and so on.
Note that the Kelly Multiplier is extremely dependent on your estimation of your edge. Make sure you are confident in the edge percentage you calculate as that will dictate how much you are betting.
The number of days is to adjust for the time frame you want to calculate. The default is set to 30 days (monthly).
The average edge/expected value/CLV is an extremely important value in determining the output. If you are confident in your calculation, then you could potentially get more aggressive with your Kelly Multiplier.
The number of bets placed per day is how many bets you can expect to get down at your average edge. For example, if you say that you have a +10% edge, then I don’t expect that you are placing 20 bets per day at a 10% edge. This number is also useful to balance with how much time you expect to have/invest in sports betting.
If you have a +1% edge and a small bankroll, that means you will have to place many bets per day to make it worth your time and effort.
How Much Can You Make Betting on Sports?
Use the Earn Calculator to enter your details to get a rough estimate of what you can expect to earn. Everyone’s bankroll, kelly multiplier, edge, etc. will differ.
The things you can control are continuing to increase your edge and bankroll to make sure you can maximize your time and opportunities.