Learn How To Convert Odds

Learn How To Convert Odds - Conversion Calculator 3/22/17, 11:11 PM
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How To Convert Odds

Published: 23rd February 2016 - Updated: 21st December 2016
How do you convert odds into their implied probabilities? And how do
you convert implied probability into the range of popular odds formats?
Use our odds conversion calculator or learn the formulas behind.
Knowing how to convert betting odds can be very helpful. In fact, if you don't know
how to convert betting odds into their respective implied probabilities, you're not
helping your chances of coming away as a long term winner
(https://www.bettingexpert.com/how-to/get-rich-betting-on-sports) in the
competitive world of sports betting. Understanding the implied probability behind
the odds on offer is key to assessing the potential value
(http://www.bettingexpert.com/how-to/find-value-bets) in a particular betting
market.
And it is just as important when assessing the value that exists with regards to
specific odds on a particular outcome. If the implied probability is less than your own
assessed probability of a particular outcome occurring, that outcome represents a
value betting opportunity.
Odds Conversion
https://www.bettingexpert.com/how-to/convert-odds#prob Page 1 of 16
1. To Convert Odds In The Easiest Way Possible - Use Our Conversion

Calculator
2. To Convert Odds Yourself - Use Our Step By Step Guide
3. To Convert Odds To Implied Probability- Follow These Instructions
4. To Convert Implied Probability To Odds - Follow These Instructions
5. Odds Conversion Chart
Odds Conversion Calculator
If you're looking for a quick calculation, then our Odds Conversion Calculator is
perfect for you.
Simply enter the odds and the odds conversion tool will do the calculation for you.
A total of six odds formats are supported including decimal, fractional and
American odds.
Like our convertor? Sign up and get more tools and free tips
(https://www.bettingexpert.com/user/register)
Odds Converter Tool
Decimal Odds (e.g. 2.50):
Fractional Odds (e.g. 3/2):
American Odds (e.g. +150):
Hong Kong Odds (e.g. 1.500):
Indonesian Odds (e.g. 1.500):
Malay Odds (e.g. -0.6667):
Implied Probability (e.g. 40%):
Convert
Embed this calculator on any website with this code:
<iframe src="https://www.bettingexpert.com/oddscalculator"></iframe>
(https://www.bettingexpert.com/user/register)
If, however, you want to learn how to convert odds to implied probability and how to
covert implied probability to various odds formats, please read on. This article
explains in detail how to convert the three most popular odds formats in the world -
decimal, fractional and American - into their implied probabilities and how to convert
an implied probability into either of these odds formats.
Our Odds Conversion Calculator will also convert a probability into odds. Want to
know what 70% probability is represented as "Decimal Odds"? Our odds conversion
tool will show you. Simply enter the probability as a percentage and our odds
conversion tool will do the rest.
You can also embed this tool on any webpage by adding the above embed code at the
bottom of the calculator.
How To Convert Odds: Step By Step Guide
There are three basic steps to converting odds
1. Understand the odds format by answering the question: Are the odds you want to
convert Decimal, Fractional or American?
2. Convert the odds to their implied probability

(https://www.bettingexpert.com/how-to/convert-odds#prob).
3. Convert the implied probability to your preferred odds format

(https://www.bettingexpert.com/how-to/convert-odds#odds).
For example, "Decimal Odds" of 3.00 has an implied probability of 33.3% which can
then be converted to fractional odds of 2/1.
This article discusses this process of odds conversion in detail with the use of step by
step real world examples. If you're completely new to betting odds and implied
probability, the video below presents a great introduction and overview.
How To Convert Odds To Implied Probability
Typically, there are three kinds of odds you will come across in the sports betting
landscape.
"Decimal Odds": represented as 1.65 or 2.95 etc.

Fractional odds: represented as 5/2 or 3 to 2 'on' etc.
Moneyline odds: represented as -120 or +140 etc.
They all reflect the same thing, the return you will receive on a given amount of
money placed on a bet. To convert your odds to implied probabilities or an implied
probability to odds, you can either use our odds conversion calculator or do it by
hand with the formulas provided below the calculator.
3.1 Converting "Decimal Odds"
"Decimal Odds" are a simple reflection of the return you will receive for each single
unit placed. For example, let's say bookmaker Matchbook
(http://www.bettingexpert.com/matchbook) is offering odds of 1.65 for Manchester
United to win. This means that for every 1.00 you bet on that particular outcome, you
will receive a profit of 0.65 should Manchester United win.
To convert these odds to their respective implied probabilities we make a simple

calculation.
Converting "Decimal Odds" to implied probability formula:
Implied probability = 1 / "Decimal Odds"
Let's look at an example, in which Diego Costa to get a yellow card is odds 1.65.
Example: How to convert "Decimal Odds" to its implied probability
1 / 1.65 = 0.606 = 60.6%
Multiplied then by 100 to express as an implied probability percentage of 60.6%.
3.2 Converting Fractional odds
Fractional odds are generally the most traditional form of expressing betting odds.
They are a simple reflection of the return you will receive for a particular amount bet.
So for example, let's say bookmaker Ladbrokes

(http://www.bettingexpert.com/ladbrokes) is offering odds of 5/2 for a particular
horse to win an upcoming race. The odds of 5/2 (expressed as "5 to 2") means that for
every 2 units that you bet, you will receive 5 back as profit. So if you bet €200 on that
horse, you would have received €500 profit in return plus your original stake of €200.
Converting fractional odds into implied probability formula:
Implied probability = denominator / (denominator + numerator)

Let's look at an example, in which Diego Costa to get a yellow card is odds 5/2.
Example: How to convert fractional odds to its implied probability
5/2 = 2 / (2 + 5) = 2/7 = 0.2857 = 28.57%
Multiplied then by 100 to express as a implied probability percentage of 28.57%
3.3 Converting Moneyline Odds
Moneyline odds, also known as 'American odds' are probably the most foreign odds
format to those of us outside of North America. And at first they appear a little
confusing. But it is helpful to understand what these odds represent especially when
listening to Americans speaking about gambling odds in sports broadcasts or
podcasts. So, let's see how we can convert Moneyline odds into their respective
implied probabilities.
There are two instances of Moneyline odds: 'minus' moneylines and 'plus'
moneylines.
The first are 'minus' moneylines. This is expressed as for example, -120. But what
does this mean exactly? Well, let's say bookmaker bet365
(http://www.bettingexpert.com/bet365) are offering odds of -120 for the Los
Angeles Lakers to win a game. This is essentially saying that to win $100 you have to
bet $120. In other words, if you place $120 on that outcome, you will receive a profit
of $100.
The other instance are 'plus' moneylines. This is expressed as for example +180. In
this case, let's say bookmaker Winner Sports
(http://www.bettingexpert.com/winner-sport) have offered odds of +180 for the
New York Yankees to win a game. This simply means that if you bet $100, you will win
$180.
So how do we convert the the 'minus' and the 'plus' moneyline odds into their implied
probabilities? Let's start out with the 'minus' moneyline conversion:
Converting 'minus' moneyline odds into implied probability formula:
Implied = ( - ( 'minus' moneyline odds ) ) / ( - ( 'minus' moneyline odds ) ) +

probability 100
So let's take an example, in which Titanbet (http://www.bettingexpert.com/titanbet)

offers the following bet: San Diego Chargers to win against New England Patriots at
odds -120.
Example: How to convert 'minus' moneyline odds to its implied probability
(- (-120) / ( (- (-120) ) + 100) = 120 / 220 = 0.545 = 54.5%
Multiplied then by 100, we get the implied probability percentage of 54.5%.
Converting a 'plus' moneyline is a bit different. Calculating the implied probabilities

on these look like this:
Converting 'plus' moneyline odds into implied probability formula:
Implied probability = 100 / ( 'plus' moneyline odds + 100 )
So let's take an example, in which Paddy Power

(https://www.bettingexpert.com/paddy_power) offers odds +180 for Los Angeles
Lakers to beat Miami Heat.
Example: How to convert 'plus' moneyline odds to its implied probability
( 100 / 180 + 100 ) = 100 / 280 = 0.357 = 35.7%
Multiplied then by 100, we get the implied probability percentage of 35.7%.
4. How To Convert Implied Probability Into Odds
Knowing how to convert one form of odds to another can be helpful, especially if you
have come into possession of a large amount of betting data that has odds formatted
in an unfamiliar way.
To do this, we first need to convert any odds format to their implied probability. Once
we have done this, the calculations are fairly straight forward.
4.1 Converting Implied Probability Into "Decimal Odds"
Converting implied probability into "Decimal Odds" formula:
"Decimal Odds" = 100 / implied probability
Let's take an example. In this example we think that Arsenal has a 75 % probability of
defeating Stoke. To calcluate our "Decimal Odds" target, we want to covert 75 % into
odds:
Example: How to calculate implied probability to "Decimal Odds":
100 / 75 = 1.33
Implied probability of 75% would return "Decimal Odds" of 1.33.
4.2 Converting Implied Probability Into Fractional Odds
Convert implied probability into fractional odds formula:
Fractional odds = ( 100 / implied probability ) -1
Let's look at an example, where we think Wayne Rooney has 25% probability of
scoring a goal. In this example, the fractional odds target will be calculated as:
Example: How to convert implied probability to fractional odds:
(100 / 25) - 1 = 4-1 = 3
The outcome of this formula is 3, meaning we will express the odds as fractional odds
= 3 to 1.
4.3 Converting Implied Probability Into Moneyline Odds
Converting implied probability into moneyline is a bit more complicated than

converting it into decimal or fractional odds. The calculation depends on whether the
implied probability is above 50% or below.
When the implied probability is above 50%, we make the following calculation.
Convert implied probability (50% and above) into moneyline odds formula:
Moneyline Odds = - ( implied probability / (100 - implied probability)) x 100
Let's look at an example, where we think Lionel Messi has a 75 % chance of scoring
against Levante. In this example, the moneyline odds target will be calculated as:
Example: How to convert implied probability (50% and higher) to moneyline odds:
- (75 / (100 – 75)) x100 = - (75 / 25) x 100 = - 3 x 100 = - 300
Moneyline odds = - 300.
When the implied probability is below 50%, the calculation is adjusted a little.
Convert implied probability (below 50%) into moneyline odds formula:
Moneyline odds = (100 - implied probability / implied probability ) x 100
Let's look at an example, where we think Niclas Bendtner has a 25 % chance of

scoring against VfB Stuttgart. In this example, the moneyline odds target will be
calculated as:
Example: How to convert implied probability (below 50%) to moneyline odds:
((100 - probability)/(probability) x = ((75) / (25) x = 3 x 100 = 300

100) 100)
Moneyline odds = + 300.
5. Odds Conversion Chart
As a quick comparison guide, we've created an odds conversion chart which displays
the odds and implied probability across each odds format.
▾
Odds Conversion Chart
Bookmaker Odds
Implied Probability % Settings
Decimal Odds Fractional Odds American Odds
99.0 1.01 1/100 -10000

Most online bookmakers now offer alternative display
1.02
options for their-5000
1/50
odds. Below
98.0
you can see the odds options available at bet365
(http://www.bettingexpert.com/bet365). Simply check your preferred odds format
1.03 1/33 -3333
and all odds in all markets offered by bet365 (http://www.bettingexpert.com/bet365)
97.1
will appear in that format.
1.04 1/25 -2500
So let's sum it up.........
How To Convert Odds
While there are many tools on the web that will help you convert odds to their
implied probabilities and convert odds to other formats, it is still a good practise to
understand the calculations behind these conversions. This will only help you better
understand what the odds represent in terms of value as well as exercising your
betting brain to think instinctively in terms of implied probabilities when odds are
presented to you.
You might also want to read more about:
Betting Theory (https://www.bettingexpert.com/how-to#theory)
Bookmakers (https://www.bettingexpert.com/how-to#bookmakers)
Betting Strategy (https://www.bettingexpert.com/how-to#strategy)
Beginner Guides (https://www.bettingexpert.com/how-to#beginner)
Betting Psychology (https://www.bettingexpert.com/how-to#psychology)
Betting On Sports (https://www.bettingexpert.com/how-to#football)
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Learn How To Convert Odds - Conversion Calculator 3/22/17, 11:11 PM

How To Convert Odds

1. To Convert Odds In The Easiest Way Possible - Use Our Conversion

Odds Conversion Calculator

Odds Converter Tool

Decimal Odds (e.g. 2.50):

Fractional Odds (e.g. 3/2):

American Odds (e.g. +150):

Hong Kong Odds (e.g. 1.500):

Indonesian Odds (e.g. 1.500):

Malay Odds (e.g. -0.6667):

Implied Probability (e.g. 40%):

Embed this calculator on any website with this code:

How To Convert Odds: Step By Step Guide

There are three basic steps to converting odds

2. Convert the odds to their implied probability

3. Convert the implied probability to your preferred odds format

How To Convert Odds To Implied Probability

"Decimal Odds": represented as 1.65 or 2.95 etc.

3.1 Converting "Decimal Odds"

To convert these odds to their respective implied probabilities we make a simple

Converting "Decimal Odds" to implied probability formula:

Implied probability = 1 / "Decimal Odds"

Example: How to convert "Decimal Odds" to its implied probability

1 / 1.65 = 0.606 = 60.6%

Multiplied then by 100 to express as an implied probability percentage of 60.6%.

3.2 Converting Fractional odds

So for example, let's say bookmaker Ladbrokes

Converting fractional odds into implied probability formula:

Implied probability = denominator / (denominator + numerator)

Example: How to convert fractional odds to its implied probability

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

Multiplied then by 100 to express as a implied probability percentage of 28.57%

3.3 Converting Moneyline Odds

Converting 'minus' moneyline odds into implied probability formula:

Implied = ( - ( 'minus' moneyline odds ) ) / ( - ( 'minus' moneyline odds ) ) +

So let's take an example, in which Titanbet (http://www.bettingexpert.com/titanbet)

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

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

Multiplied then by 100, we get the implied probability percentage of 54.5%.

Converting a 'plus' moneyline is a bit different. Calculating the implied probabilities

Converting 'plus' moneyline odds into implied probability formula:

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

So let's take an example, in which Paddy Power

Example: How to convert 'plus' moneyline odds to its implied probability

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

Multiplied then by 100, we get the implied probability percentage of 35.7%.

4. How To Convert Implied Probability Into Odds

4.1 Converting Implied Probability Into "Decimal Odds"

Converting implied probability into "Decimal Odds" formula:

"Decimal Odds" = 100 / implied probability

Example: How to calculate implied probability to "Decimal Odds":

Implied probability of 75% would return "Decimal Odds" of 1.33.

4.2 Converting Implied Probability Into Fractional Odds

Convert implied probability into fractional odds formula:

Fractional odds = ( 100 / implied probability ) -1

Example: How to convert implied probability to fractional odds:

(100 / 25) - 1 = 4-1 = 3

4.3 Converting Implied Probability Into Moneyline Odds

Converting implied probability into moneyline is a bit more complicated than

Moneyline Odds = - ( implied probability / (100 - implied probability)) x 100

- (75 / (100 – 75)) x100 = - (75 / 25) x 100 = - 3 x 100 = - 300

Moneyline odds = - 300.