While they all mean the same thing, understanding how they work with your wager can be tricky. Use our betting odds and moneyline calculator tool above to convert these odds and learn more about them below. Bets with higher implied probability are given a higher negative value. Bets with lower implied probability are given a positive value.
Decimal odds explained Decimal odds are the preferred variation for most countries outside of the U. Instead of using positive and negative values or fractional equations, decimal odds display a simple value that you multiply your bet amount by to calculate your profit money won and overall return profit and original risk amount. Fractional odds explained Fractional odds are most common in horse racing and futures markets.
You can also define your odds conversion to a specific bet amount to see your expected profit if that wager should win. Odds with lower implied probability have larger risk and therefore pay out more compared to odds with higher implied probability and lower risk. FAQs How do you convert American odds to decimal?
How do you convert American odds to fractional? How do you convert decimal odds to American? For decimal odds of 2. For decimal odds between 1. We know that both outcomes have an implied probability of If that same outcome has a true probability of This seems easy, but how do you find true odds? Essentially, true odds are subjective. However, one person can calculate true probability by using predictive models. This is where handicapping comes into play. Example Game: Tennessee Titans vs.
Bills game at even odds. By using our odds calculator, you can calculate the implied probability of either team winning. Since the same odds are offered for the Bills to win, the implied probability for the Bills to win are What can you do with this information?
If you are able to calculate true probability, you can use those odds to make an informed decision on who to bet on. It is important to note that if your true probability is higher than the implied probability that a sportsbook is giving you, then that is a valuable bet. Creating an accurate predictive model can take years to perfect.
This is not something that everyone can take advantage of, but if you are looking for a place to start you can check out the resources we have on our betting education page. Be sure to shop around at different books and get the best odds possible. The difference of and can save you a lot of money over the course of your sports betting career.
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It also shows you how much you can win when you bet on specific odds, in whichever format you choose to enter them. How to Use the Sports Betting Odds Calculator and Converter To convert between different odds formats and calculate your payout, simply follow these 2 easy steps: Fill in the odds in any of the odds fields: American, decimal, fractional or implied Enter the amount you want to bet, i. Now you will be able to see your entered odds expressed in all other formats, as well as how much money you can win betting on them and your total payout, based on your stake.
Whether you are betting on the NFL , NBA , soccer or any other sport, as well as horse racing, our payout calculator and odds converter can come in handy. We recommend that you bookmark this page so you can easily access our free online odds calculator and converter when you need it. They all express the ratio of payoff to stake, in their own way.
Check out the difference between these betting odds below. What Are American Odds? As their name suggests, they are used by American sportsbooks. What Are Decimal Odds? These are listed below: What are implied odds? What are true odds? Implied odds and true odds are important in determining if you are making a bet that has good value. You can use our odds calculator above to calculate the implied odds of a given bet as long as you know the odds of the bet. Implied odds are the conversion of a sportsbooks offered odds into an implied win probability.
A spread bet in football is normally offered at on both sides of the bet. This gives both outcomes a win probability of The implied probability of this spread bet winning would be Let's use the above bet of for both outcomes on a NFL spread bet. We know that both outcomes have an implied probability of If that same outcome has a true probability of This seems easy, but how do you find true odds? Essentially, true odds are subjective. However, one person can calculate true probability by using predictive models.
This is where handicapping comes into play. Example Game: Tennessee Titans vs. Bills game at even odds.
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