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Converting Odds

Knowing how to convert betting odds can be of great help. If you do not know how to convert betting odds to their respective counterparts, you are actually not helping your chances of becoming a long-term winner in the competitive world of sports betting. Understanding the likelihood behind the odds offered is the key to assessing the potential value of a particular gaming market. And it is equally important when assessing the value that exists with regard to specific odds on a particular outcome. If the probability is less than your own estimated probability of a certain outcome occurring, than this result represents a value for betting opportunity.However, if you want to learn how to convert odds into probability and how to hide probability for different odds formats, read on. This article explains in detail how to convert the three most popular odds formats worldwide – American, decimal, and traditional to their probabilities and how to convert a probability to any of these odds formats. Our Odds Conversion Calculator will also convert probability to odds. Do you want to know what 60% probability is represented in “Decimal Odds”? Our odds conversion tool will show you. Just enter the probability as a percentage and our odds conversion tool does the rest.

 

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How To Convert Odds – Step By Step

Understand the odds format by answering the following question:

  1. Are the odds you want to convert Decimal, Traditional or American?
  2. Convert the odds to their probability.
  3. Convert the probability to your preferred odds format.

For example, a “Decimal Odd” of 3.00 will have a probability of 33.3% which can then be converted to traditional odds of 2/1. This article will look in detail in the process of odds conversion by using step-by- step real-world examples. If you are a newbie to the betting odds and probability market, the table below presents a good introduction and overview.

 

Probability % Decimal Odds Fractional odds Moneyline Odds
99.0 1.01 1/100 -10000
98.0 1.02 1/50 -5000
97.1 1.03 1/33 -3333
96.2 1.04 1/25 -2500
95.2 1.05 1/20 -2000
94.3 1.06 3/50 -1667
93.5 1.07 7/100 -1429
92.6 1.08 2/25 -1250
91.7 1.09 9/100 -1111
90.9 1.10 1/10 -1000
90.1 1.11 11/100 -909
89.3 1.12 3/25 -833
88.5 1.13 13/100 -769
87.7 1.14 7/50 -714
87.0 1.15 3/20 -667
86.2 1.16 4/25 -625
85.5 1.17 17/100 -558
84.7 1.18 9/50 -556
84.0 1.19 19/100 -526
83.3 1.20 1/5 -500
82.6 1.21 21/100 -476
82.0 1.22 11/50 -455
81.3 1.23 23/100 -435
80.6 1.24 6/25 -417
80.0 1.25 1/4 -400
79.4 1.26 13/50 -385
78.7 1.27 27/100 -370
78.1 1.28 7/25 -357
77.5 1.29 29/100 -345
76.9 1.30 3/10 -33
76.3 1.31 31/100 -303
75.8 1.32 8/25 -313
74.6 1.33 17/50 -294
74.1 1.34 7/20 -286
73.5 1.35 9/25 -278
73.0 1.36 37/100 -270
72.5 1.37 19/50 -263
71.9 1.39 39/100 -256
71.4 1.40 2/5 -250
70.9 1.41 41/100 -244
70.4 1.42 21/50 -238
69.9 1.43 43/100 -233
69.4 1.44 11/25 -227
69.0 1.45 9/20 -222
68.5 1.46 23/50 -217
68.0 1.47 47/100 -213
67.6 1.48 12/25 -208
67.1 1.49 49/100 -204
66.7 1.50 1/2 -200
65.8 1.52 13/25 -192
64.9 1.54 27/50 -185
64.1 1.56 14/25 -179
63.3 1.58 29/50 -172
62.5 1.60 3/5 -167
61.7 1.62 31/50 -161
61.0 1.64 16/25 -156
60.2 1.66 33/50 -152
59.5 1.68 17/25 -147
58.8 1.70 7/10 -143
58.1 1.72 18/25 -139
57.5 1.74 37/50 -135
56.8 1.76 19/25 -132
56.2 1.78 39/50 -128
55.6 1.80 4/5 -125
54.9 1.82 41/50 -122
54.3 1.84 21/25 -119
53.8 1.86 43/50 -116
53.2 1.88 22/25 -114
52.6 1.90 9/10 -111
52.1 1.92 23/25 -109
51.5 1.94 47/50 -106
51.0 1.96 24/25 -104
50.5 1.98 49/50 -102
50.0 2.00 1/1 -100
49.5 2.02 51/50 102
49.0 2.04 26/25 104
48.5 2.06 53/50 106
48.1 2.08 27/25 108
47.6 2.10 11/10 110
46.5 2.15 23/20 115
45.5 2.20 6/5 120
44.4 2.25 5/4 125
43.5 2.30 13/10 130
42.6 2.35 27/20 135
41.7 2.40 14/10 140
40.8 2.45 29/20 145
40.0 2.50 3/2 150
38.5 2.60 8/5 160
37.0 2.70 17/10 170
35.7 2.80 9/5 180
34.5 2.90 19/10 190
33.3 3.00 2/1 200
31.3 3.20 11/5 220
29.4 3.40 12/5 240
27.8 3.60 13/5 260
26.3 3.80 14/4 280
25.0 4.00 3/1 300
23.8 4.20 16/5 320
22.7 4.40 17/5 340
21.7 4.60 18/5 360
20.8 4.80 19/5 380
20.0 5.00 4/1 400
19.2 5.20 21/5 420
18.5 5.40 22/5 440
17.9 5.60 23/5 460
17.2 5.80 24/5 480
16.7 6.00 5/1 500
16.1 6.20 26/5 520
15.6 6.40 27/5 540
15.2 6.60 28/5 560
14.7 6.80 29/5 580
14.3 7.00 6/1 600
13.3 7.50 13/2 650
12.5 8.00 7/1 700
11.1 9.00 8/1 800
10.0 10.00 9/1 900
9.1 11.00 10/1 1000
8.3 12.0 11/1 1100
7.7 13.0 12/1 1200
7.1 14.00 13/1 1300
6.7 15.00 14/1 1400
5.0 20.00 19/1 1900
3.3 30.00 29/1 2900
2.5 40.00 39/1 3900
2.0 50.00 49/1 4900
1.0 100.00 99/1 9900
0.7 150.00 149/1 14900
0.5 200.00 199/1 19900

 

Converting “Decimal Odds”

“Decimal Odds” is simply the return you get for each individual unit. For example, let's say that the betting company Bethard offers odds of 1.65 for Liverpool to win. What this means is that for every $100 you bet on the specific result you get a profit of 0.65 if the team wins.

To convert these odds to their respective counterparts, we use a simple calculation.

 

What is the formula?

Implied probability = 1 / “Decimal Odds”

Let's look at an example, in which the odds that a particular player gets a yellow card are 1.65.

 

Example: How to convert “Decimal Odds” to its implied probability

1 / 1.65 = 0.606 = 60.6%

The number is then multiplied by 100 to express as an implied probability percentage of exactly 60.6%.

 

Converting Traditional Odds

Traditional / British odds are generally the most traditional form of expressing betting odds. They are a simple reflection ofthe return you will get for a certain amount, So for example, let's say the gaming company Ladbrokes offers odds of 5/2 for a particular horse to win a race.

The odds are 5/2 (expressed as “5 to 2”) which means that for every 2 units you bet you get 5 back as a win, So if you bet $ 200 on that horse you would have received $ 500 profit plus your original bet of $ 200 back.

 

Converting traditional odds into implied probability formula:

Implied probability = denominator / (denominator + numerator)

Let's look at an example, in which the odds that the player gets a yellow card is 5/2.

 

Example: How to convert traditional odds to its implied probability

5 / 2 = 2 / (2 + 5) = 2 / 7 = 0.2857 = 28.57%

Then multiply by 100 to express a probability percentage of 28.57%.

 

Converting Moneyline Odds

Moneyline odds, also known as “American odds” are the least popular outside of the U.S. At first, they might seem a little confusing. To understanding what these odds actually mean, you have to understand how this type of bet works. Let's see how to convert Moneyline odds to their respective probabilities. There are two types of Moneyline odds: a “minus” moneyline and a “plus” moneyline.

The first is the “minus” moneyline. This is written in the following form: ” -120″. But what does this mean? Say the betting company offers odds of-120 for the Los Angeles Lakers to win a match. This basically says that in order to win $100 you have to bet $120. In other words, if you spend $120 on that result you get a profit of $100. The second type is the “plus” moneyline. This is written as “+180”, for example. In this case, we find that the gaming company Winner Sports offered odds of +180 for the New York Yankees to win a match.

This means that if you bet $100, you will win $180. So how do we convert these moneyline odds to their probabilities? Let's start with the “minus” moneyline conversion:

 

Converting “minus” Moneyline odds into implied probability formula:

Implied probability = ( – ( ‘minus' moneyline odds ) ) / ( – ( ‘minus' moneyline odds ) ) + 100

For example, let's take the following bet: San Diego Chargers has odds of -120 to win a game. 

 

Example: How to convert ‘minus' moneyline odds to its implied probability

(- (-120) / ( (- (-120) ) + 100) = 120 / 220 = 0.545 = 54.5%

Multiply by 100, and we will get the implied probability percentage of 54.5%.

 

Converting a ‘plus' Moneyline is a bit different, however. Calculate the implied probability by following this method: on these look like this:

 

Converting ‘plus' Moneyline odds into implied probability formula:

Implied probability = 100 / ( ‘plus' moneyline odds + 100 )

Here is one example: Mr. Green offers odds +180 for Los Angeles Lakers to beat Washington Wizards.

 

Example: How to convert ‘plus' Moneyline odds to its implied probability

( 100 / 180 + 100 ) = 100 / 280 = 0.357 = 35.7%

You can multiply the bet by 100, and get the implied probability percentage of 35.7%.

 

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