6 4 In Decimal Odds
- To convert positive odds into decimal odds, the following calculation is required. (Moneyline Odds + 100) / 100 = Decimal Odds. Example: Converting +175 (+175 + 100) / 100 = 2.75. For negative odds, we ignore the minus symbol and use the following formula.
- When converting fractional odds to decimal odds, the calculation requires you to add the multiplier + 1 (which acts as the stake). For instance, 6/4 express in decimal odds is 1.5 + 1 = 2.50 (decimals always expressed to two places).
Understanding how betting odds work is a vital skill topossess if you want to make a consistent profit from your betting activities.
In the United Kingdom and Europe, the two most prevalenttype of betting odds are fractional and decimal, both of which produce the sameresult.
Most traditional bookmakers have historically usedfractional odds, while decimal odds tend to be found on betting exchanges.
To convert decimal odds to fractional odds, you need to do the reverse. This means positioning the decimal number as the numerator and 1 as the denominator. You then multiply the top and bottom numbers by ten until there are no decimal places left. For example, to convert odds of 1.4, you do the following: 1.4 – 1 = 0.4 (0.4/1) x 10 = 4/10. Decimal odds are the most common way online bookmakers present their odds to customers. Decimal odds are often called European odds, as they are most commonly used by sports bettors in Europe, Australia, and Canada.They are simple to understand, making them a favorite across the world for bookmakers and sports bettors. Convert stated odds to a decimal value of probability and a percentage value of winning and losing. This calculator will convert 'odds for winning' an event or 'odds against winning' an event into percentage chances of both winning and losing. Be careful if you are using sports teams odds or betting odds. If you see that the Patriots super bowl.
Read on as we show you howbetting odds work and help you get to grips with the differences betweenfractional and decimal prices.
Fractional Odds
Fractional odds have their roots in horse racing in the UKand Ireland, with most bookmakers using them to display prices for each race.
These types of odds have also been used across the sportingspectrum and show how much profit a bettor will make against their stake iftheir selection is successful.
In simple terms, the number on the right of the fraction isthe amount you must stake to win the figure on the left.
For instance, a £1 stake on a horse to win a race at odds of2/1 would return a £2 profit if it finishes first. The punter would thereforereceive £3 (£1 stake + £2 profit).
Decimal Odds
The launch of betting exchanges sparked a change in the wayodds are displayed, with decimals used to show the prices on offer for eachevent.
Decimal odds are generally displayed to two decimal places,so if you place a £10 bet at odds of 3.50 your return would be £35 (£10 stake x3.50 = £35).
Although it may take a while for punters more familiar withfractional odds to understand decimal odds, they are a little easier tounderstand.
As opposed to displaying the profit you make on your stake,they convey the exact return you would receive if a selection is successful.
Converting Fractional to Decimal Odds
To convert fractional odds to decimal, you must divide thefirst figure by the second figure and then add 1.00.
For instance, fractional odds of 11/4 is 11 divided by fourwhich equals 2.75. If you add 1.00, you are left with decimal odds of 3.75.
6.4% In Decimal Form
Using the same odds, if you place a £4 bet at fractionalodds of 11/4 and your selection is successful your return would be £15 (£4stake + £11 profit = £15).
Placing a £4 bet at decimal odds of 3.75 also returns £15(£4 stake x 3.75 = £15) if your selection wins its particular event.
Converting Decimal Odds to Fractional
It is worth noting that not all decimal odds translate tofractional odds that are recognisable as the ones used traditionally in bettingmarkets.
For instance, if you have decimal odds of 1.80 this equatesto fractional odds of 4/5, but if the price shortens to 1.74, this equates to astrange-looking 37/50.
This anomaly is due to the traditional nature of thefractions used by bookmakers, which weren’t to the same full scale found indecimal odds.
This method allowed bookies to build an additional profitmargin into their books and shave extra value off the prices they offered topunters.
Using Odds Conversion Tools
There are numerous online sites which offer punters thechance to convert odds easily using innovative betting tools.
These often have four fields – fractional odds, decimalodds, American odds and implied probability (percentage).
To use an odds converter, enter a value into any field and itwill automatically convert the odds into all of the other formats.
Using an odds convertor is a great way to take the hassleout of calculating odds, particularly if the betting site you visit displaysthem in a way you are unfamiliar with.
Converting Fractional odds to Decimal – The Final Word
If you have a simple grasp of mathematics, it is extremely easyto convertfractional odds into decimals.
However, if the numbers involved leave you feeling baffled,the following chart will help!
| Fraction | Decimal | Fraction | Decimal | Fraction | Decimal |
| 1/5 | 1.20 | 5/4 | 2.25 | 5/1 | 6.00 |
| 2/9 | 1.22 | 11/8 | 2.38 | 11/2 | 6.50 |
| 1/4 | 1.25 | 7/5 | 2.40 | 6/1 | 7.00 |
| 2/7 | 1.29 | 6/4 | 2.50 | 13/2 | 7.50 |
| 3/10 | 1.30 | 8/5 | 2.60 | 7/1 | 8.00 |
| 1/3 | 1.33 | 13/8 | 2.63 | 15/2 | 8.50 |
| 4/11 | 1.36 | 7/4 | 2.75 | 8/1 | 9.00 |
| 2/5 | 1.40 | 9/5 | 2.80 | 17/2 | 9.50 |
| 4/9 | 1.45 | 15/8 | 2.86 | 9/1 | 10.00 |
| 1/2 | 1.50 | 2/1 | 3.00 | 10/1 | 11.00 |
| 8/15 | 1.53 | 11/5 | 3.20 | 11/1 | 12.00 |
| 4/7 | 1.57 | 9/4 | 3.25 | 12/1 | 13.00 |
| 8/13 | 1.62 | 12/5 | 3.40 | 13/1 | 14.00 |
| 4/6 | 1.66 | 5/2 | 3.50 | 14/1 | 15.00 |
| 8/11 | 1.72 | 13/5 | 3.60 | 15/1 | 16.00 |
| 4/5 | 1.80 | 11/4 | 3.75 | 16/1 | 17.00 |
| 5/6 | 1.83 | 3/1 | 4.00 | 18/1 | 19.00 |
| 10/11 | 1.91 | 10/3 | 4.33 | 20/1 | 21.00 |
| Evens | 2.00 | 7/2 | 4.50 | 25/1 | 26.00 |
| 11/10 | 2.10 | 4/1 | 5.00 | 33/1 | 34.00 |
| 6/5 | 2.20 | 9/2 | 5.50 | 100/1 | 101.00 |
Implied probability is basically the conversion of odds into a percentage. That percentage then shows the likelihood of an outcome happening based on the size of the odds. High odds suggest a low probability of something happening, while low odds suggest a high probability of something happening.
For example, imagine a tennis player is +200 to win an upcoming match. This would be 3.00 in decimal odds, and 2/1 in fractional odds. The implied probability for these odds is 33.33%. In this example, the odds suggest that the player has a 33.33% chance of winning the match.
In sports, the probability of something happening is usually subjective. There are several factors to take into account and there’s always a chance of the unexpected. No one can state definitively the exact probability of a player or team winning a game they’re taking part in. There’s an element of personal opinion involved.
Calculating the implied probability is useful though. It helps us decide whether or not we think a bet offers any positive value. We should always look for positive value when betting, and it exists when our estimated probability of an outcome happening is greater than the implied probability that the odds on that outcome suggest.
Confused? Don’t worry! It’s not as complicated as it may seem. To make this easier to understand, let’s continue with the example of the tennis player at +200 to win his match. As we’ve said, the implied probability here is 33.33%. So if we think that the player has a GREATER than 33.33% of winning, then it makes perfect sense to bet on him. If we think his chances are less than 33.33%, it’s wise not to bet on him.
Lesson 4.6 Decimal Multiplication
If you’d like a more complete explanation on this subject, there’s an article in our sports betting guide that explains value and implied probability in further detail.