Use this to convert between decimal, fractional, moneyline odds and to see the implied probability expressed as a percentage.
Decimal odds are used by all bookmakers in Australia.
Decimals odds show the potential return should the bet win, relative to the stake. For example if $10 is bet at odds of 3 the total returned is $30 ($10 * 3) the potential profit is $200 ($10 * 3 minus the $10 stake).
Many sites in the UK will display odds as Fractions.
Fractional odds show the potential profit should the bet win, relative to the amount stakes. For example, if $10 is bet at odds of 2/1 the potential profit is £20 ($10 * 2) and the total returned is $30 (£10 plus the £5 stake).
American sites tend to use Money line odds.
- Positive figures: The odds state the winnings on a $100 bet e.g. moneyline odds of 120 would win $120 on a $100 bet.
- Negative figures: The odds state how much must be bet to win $100 profit e.g. american odds of -300 would profit $100 on a $300 bet.
Implied Probability is also useful when evaluating a bet or checking how likely an outcome is.
Odds correlate to probability e.g a bet at odds of 4.0 is expected to win one in every 4 attempts, hence the probability is 25%.