💡 What is a betting converter?

Bettors can use it to better understand and compare odds offered by different betting sites in different countries.

💡 How can I use the odds to decimal converter?

Enter the odds in one format (e.g., fractional) into the appropriate field and choose the desired output format (e.g., decimal or American). Once you choose a format, the converter will show you the odds immediately.

💡 Why is it necessary to convert odds?

Making educated wagers is made easier with knowledge of the implied probability of a result.

💡 Can I get implied probabilities?

Yes. With this feature, gamblers may figure out how likely a result is and whether the odds are worth it.

Betting Converter

Last update at 16 July, 2024⏲️ Reading time: 3 minutes

If you’ve ever placed bets, you will know that odds are probably the most important resource you have; however, they come in many formats. For those who don’t know what to make of these numbers, our odds converter exists to provide clarity.

How does our odds converter work?

Our betting odds converter’s main objective is to facilitate conversion between the most used formats. The inferred probability rate and values are computed automatically regardless of which fields are filled in. Users can learn more about the different formats by hovering their cursors over the “i” information buttons.

Fraction

The ratio of money risked to potential winnings in betting. Used primarily in the UK and Ireland.

Decimal

Used in the rest of the world. A straightforward way to express betting odds, where 1 means even money, and higher numbers indicate longer odds.

American

A betting odds format used in the US, where the payout is the amount wagered plus the odds, making it easier to calculate potential winnings.

Implied Probability %

The probability of an event occurring, calculated from betting odds, used to assess the fairness of betting odds.

What are standard odds formats?

When using an odds converter for sports betting, the odds are typically presented in a standard format to indicate the probability of an occurrence and the possible payoff. You can see odds expressed as fractions, decimals, or American.

What are fractional odds, and where are they used?

Fractional odds, such as 5/1, are popular in the UK and Ireland because they show the potential return on investment in relation to the bet.

What are decimal odds, and where are they used?

Decimal odds, which include the complete payout, including the stake, are used in both Europe and Canada. For example, odds of 6.00 represent the total payout.

What are American odds?

It is common practice in the United States to display the profit margin (positive) or the required wager (negative) for a $100 bet alongside the odds (+500). You can use the American betting odds converter for this.

How do we convert betting odds to probabilities?

Our American odds converter applies a straightforward formula to translate odds into implied probability:

Implied Probability = 1 / (Odds Fraction or Decimal Odds + 1)

For example, if the odds are presented in the form of a fraction, such as 3/1, the computation would comprise the following:

Implied Probability = 1 / (3/1 + 1) = 1 / (4) = 0.25

This is what our decimal odds converter does the moment you input the values into relevant fields.

Betting odds calculators you can access at onlinecricketbetting.tv

You can use the tool for the following:

Author

Jarin Ahmed

Like many aspiring writers, Jarin focuses on bringing life to the text for her readers. She is an avid sports lover, growing up in a family obsessed with bookies. She is an expert in the iGaming niche and has secondary obsessions with Gardening and cooking.

Article rating

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FAQ. Frequently Asked Questions

Bettors can use it to better understand and compare odds offered by different betting sites in different countries.
Enter the odds in one format (e.g., fractional) into the appropriate field and choose the desired output format (e.g., decimal or American). Once you choose a format, the converter will show you the odds immediately.
Making educated wagers is made easier with knowledge of the implied probability of a result.
Yes. With this feature, gamblers may figure out how likely a result is and whether the odds are worth it.