Use this calculator to convert different betting odds formats, determine the implied probability of an outcome, and calculate your potential payout and profit based on your bet amount.
Decimal (e.g., 2.50)
Fractional (e.g., 5/2)
American (e.g., +150 or -200)
Betting odds are fundamental to sports betting, representing the likelihood of an event occurring and determining the potential payout for a winning bet. They are set by bookmakers and reflect not only the perceived probability but also factors like public sentiment and the bookmaker's desired profit margin. Understanding how to read and calculate odds is crucial for any bettor looking to make informed decisions.
What Do Betting Odds Represent?
At their core, betting odds convey two main pieces of information:
Implied Probability: The bookmaker's assessment of how likely an event is to happen. Lower odds indicate a higher probability, while higher odds suggest a lower probability.
Potential Payout: How much money you stand to win if your bet is successful, relative to your stake.
Common Betting Odds Formats
There are three primary formats for displaying betting odds, each with its own way of expressing probability and payout:
1. Decimal Odds (European Odds)
Decimal odds are widely used in Europe, Canada, and Australia. They are straightforward and represent the total return for every $1 (or unit) wagered, including your original stake. For example, if you bet $100 on odds of 2.50:
Calculation: Total Payout = Stake × Decimal Odds
Example: $100 × 2.50 = $250 (This includes your original $100 stake, so your profit is $150).
Implied Probability: (1 / Decimal Odds) × 100%
Example: (1 / 2.50) × 100% = 40%
2. Fractional Odds (Traditional Odds)
Fractional odds are common in the UK and Ireland. They represent the profit you will receive relative to your stake. The format is typically written as A/B (e.g., 5/2, 1/2).
American odds are prevalent in the United States. They are displayed with either a plus (+) or minus (-) sign, indicating whether you are betting on an underdog or a favorite.
Negative Odds (e.g., -200): These indicate the amount you need to wager to win $100 profit. The team is considered the favorite.
Implied Probability: (Negative Odds / (Negative Odds + 100)) × 100% (using absolute value for negative odds)
Potential Payout: If you bet $100 on +150 odds, you win $150 profit, for a total payout of $250.
Why Calculate Implied Probability?
Calculating the implied probability from betting odds is a powerful tool for bettors. It allows you to:
Identify Value Bets: If your own assessment of an event's probability is higher than the implied probability offered by the bookmaker, you might have found a "value bet." This means the odds are better than they should be, offering a potential edge.
Compare Bookmakers: You can compare the implied probabilities across different bookmakers to find the best odds for a particular outcome.
Understand Risk: A higher implied probability means a lower risk (and lower potential return), while a lower implied probability indicates higher risk (and higher potential return).
Using the Calculator
Our Betting Odds Calculator simplifies these conversions and calculations. Simply select the odds format, enter the odds value, and your desired bet amount. The calculator will instantly display the implied probability, your potential total payout, and your potential profit, helping you quickly assess the value and potential returns of your bets.