Odds Converter Calculator
Jan 15 2021
- Use The Calculator
- Calculator Instructions
- Why Is It Necessary To Convert Between Odds Formats?
- What Are Fractional Odds?
- What Are Decimal Odds?
- What Are American Odds?
- How Do Odds Relate to Probabilities?
Use The Calculator
Enter your stake, which is the amount you would like to bet, the odds format you will be using to input your odds and then finally input the odds themselves. After hitting "Calculate" the results grids under the odds converter will show you all of the equivalent odds in the various different odds formats.
Why Is It Necessary To Convert Between Odds Formats?
Since there is no global standard for how to price sports betting markets, regional differences have appeared. British bookmakers tend to use fractional odds, European bookmakers tend to use decimal odds and American bookmakers tend to use money lines.
Online bookmaking has increased choice for punters dramatically. Some bookmakers serve international gambling markets and this means that regional odds formats are also spreading internationally.
This growth in online bookmaking has created opportunities for punters. Different bookmakers can take a different view of an event and price up the selections slightly differently. This means punters can increase their potential returns by being flexible about which bookmaker they use.
However, if bookmakers are showing their odds in different formats it can be tricky working out where the best value is. This odds converter makes it easier for you to compare odds across bookmakers and place your bets at the best available odds.
What Are Fractional Odds?
Fractional is the standard odds format used by British bookmakers. The fractional format uses two numbers separated by either a slash or a hyphen, eg 10/1. Odds of 10/1 would mean that if your selection won, the bookmaker would give you £10 for every £1 that you staked, plus you'd get your stake back. If you staked £5 that means the bookmaker would give you (10 x £5) + £5, or £55 in total.
When a selection is even money the fractional odds is 1/1. When the first number, or numerator, is small than the second number, or denominator, such as 1/2, the selection is odds on, meaning it is expected to win more often than it loses. When the first number, or numerator, is larger than the second number, or denominator, such as 10/1, the selection is an outsider and is not expected to win on this occassion.
What Are Decimal Odds?
Decimal is the standard odds format used by European bookmakers. To calculate returns using decimal odds just multiply the stake by the decimal odds, the resulting number includes your initial stake. For example, staking £5 at decimal odds of 11.0 would return 11.0 x 5, or £55 in total.
When a selection is even money the decimal odds are 2.0.
What Are American Odds?
American odds are also known as money lines.
How Do Odds Relate to Probabilities?
When bookmakers price up a market their prices are based on probability but they are not a true reflection of actual probability. One reason for this is that bookmakers are in business to make money, so they need to weight the probabilities in their favour. On every betting market the bookmaker will shave a little bit off the odds so that payouts are slightly less that true probabilities would suggest they should be.
For example, in a tennis match there are only two possible outcomes. If each player were perfectly matched picking the winner would be like a coin toss, there is a 50:50 chance of either player winning. This looks like each player should be an even money bet, but because the bookmaker needs to make a profit they will price the players close to 4/5, making both players odds on.
Another reason that bookmaker prices might not necessarily reflect true probabilities is the volume of money they have had placed on a selection. If a lot of money has been staked on one selection they might try to limit their exposure by shortening that selection's odds to dissuade further bets being placed on that selection.
Frequently Asked Questions
Have a question about this calculator? See our list of frequently asked questions below.
What are fractional odds?
Fractional odds are written as two numbers separated by a hyphen or slash, much like a fraction in mathematics. For example, 10/1 or 10-1. Although these look slightly different they mean the same thing, which is that if you stake one pound and your selection wins the bookmaker will give you 10 pounds back, plus your £1 stake. Fractional odds are often used by British bookmakers.
What are decimal odds?
Decimal odds are written as a single number, such as 11.0. To calculate potential returns simply multiple your stake by the decimal odds, for examples £1 x 11.0 = returns of £11. Decimal odds are often used by European bookmakers.
What are American odds?
American odds, otherwise known as money lines, are popular in the United States. A money line can be either positive or negative. A negative money line shows much you need to stake to win $100. A positive money line shows how much you would win from a $100 stake. Negative money lines are used for the favourites while positive money lines are used for outsiders.
Other Betting Calculators