Your Free Sports Betting Toolkit
The smartest bettors don’t guess.
They calculate.
Use our free tools to bet sharper every day.
🔢 Calculators
At BrownBagBets, we don’t believe in cluttering your betting toolkit with dozens of flashy tools that overpromise and underdeliver. That’s why we’ve carefully selected and published only the four most essential calculators that actually improve your decision-making and protect your bankroll.
These aren’t just fancy widgets — they’re built for serious sports bettors who want faster insights, better value assessments, and smarter bet sizing without noise. Whether you’re hedging a parlay, calculating your edge, or comparing true win probabilities to sportsbook lines, these tools cover the sharpest angles of betting — no fluff, no filler.
We’ve skipped the gimmicks and focused on what matters: tools that give you clarity when it’s time to place the bet.
Parlay Odds Calculator
A parlay combines multiple bets into one. Use this calculator to determine total payout, profit, and effective odds based on your wager and individual legs.
Enter American odds for each leg of your parlay bet:
Kelly Criterion Calculator
The Kelly Criterion is a formula used to determine the optimal bet size based on your perceived edge and odds. It maximizes bankroll growth over time while managing risk.
Enter your perceived edge and the betting odds to calculate the optimal bet size as a percentage of your bankroll.
Implied Probability Calculator
This tool shows the win probability implied by American odds. Use it to compare the sportsbook’s line to your own estimated chance and spot value opportunities.
Enter American odds to see the implied win percentage:
Hedge Bet Calculator
Use this calculator to hedge an existing bet by placing a second wager on the opposing outcome. It helps you lock in profit or reduce loss by adjusting your hedge amount.
Enter the odds and amount of your original bet, plus the odds for your hedge bet:
📘 Strategy Guides & Downloads
✅ Free Guide: How to Track ROI Like a Pro
Download our free betting tracker template and learn the basics of calculating ROI, unit size, and long-term performance.
🔥 BrownBagBets Black Book – Master the Sharp Edge 🔥
Unlock the insider strategies that separate the sharp from the square. The BrownBagBets Black Book is your arsenal of advanced betting concepts, strategic maneuvers, and expert insights that we’ve used to beat the books and elevate our game.
What’s Inside?
Core Concepts: Master the fundamentals that drive sharp decision-making.
Market Movements: Decode line shifts, steam action, and sharp triggers.
Advanced Techniques: Go beyond the basics—dismantle traps, exploit weak lines, and leverage market disruptions.
Soft Market Exploitation: Discover the hidden opportunities the books overlook.
Hunt & Fade Strategy: Identify and fade public mistakes with precision.
Why It Matters:
This isn’t just a glossary—it’s a weapon. A blueprint for those serious about mastering the game.