Gambling Odds Converter
Implied probability is basically the conversion of odds into a percentage. That percentage then shows the likelihood of an outcome happening based on the size of the odds. High odds suggest a low probability of something happening, while low odds suggest a high probability of something happening.
- While it is valuable to understand what betting odds represent and convert between American odds, Decimal odds and Fractional odds in your head, our Odds Converter Calculator conveniently does it all for you. Convert seamlessly between American, Decimal and Fractional odds and start learning the shortcuts for yourself.
- Odds Conversion Guide. To convert decimal odds to fractional, subtract 1.00 and then find the nearest whole integers (so 3.75 - 1.00 becomes 2.75/1, or 11/4). To convert moneyline odds to decimal, if the moneyline is positive, divide by 100 and add 1. If it is negative, divide 100 by the moneyline amount (without the minus sign) and add 1.
For example, imagine a tennis player is +200 to win an upcoming match. This would be 3.00 in decimal odds, and 2/1 in fractional odds. The implied probability for these odds is 33.33%. In this example, the odds suggest that the player has a 33.33% chance of winning the match.
In sports, the probability of something happening is usually subjective. There are several factors to take into account and there’s always a chance of the unexpected. No one can state definitively the exact probability of a player or team winning a game they’re taking part in. There’s an element of personal opinion involved.
Bet Odds Converter
Calculating the implied probability is useful though. It helps us decide whether or not we think a bet offers any positive value. We should always look for positive value when betting, and it exists when our estimated probability of an outcome happening is greater than the implied probability that the odds on that outcome suggest.
Confused? Don’t worry! It’s not as complicated as it may seem. To make this easier to understand, let’s continue with the example of the tennis player at +200 to win his match. As we’ve said, the implied probability here is 33.33%. So if we think that the player has a GREATER than 33.33% of winning, then it makes perfect sense to bet on him. If we think his chances are less than 33.33%, it’s wise not to bet on him.
If you’d like a more complete explanation on this subject, there’s an article in our sports betting guide that explains value and implied probability in further detail.
Gambling Odds Converter
Betting Odds Explained Decimal Odds. Decimal (or European) odds are most popular among the bookmakers online. They’re simple to understand and easy to calculate the return. That’s what the decimal odds represent – the return of your bet. For example, if the decimal odds are 1.5 and your stake is $10, you get $15 ($5 profit + $10 stake).