Betting Odds Converter Fraction To Decimal
Simply enter the fractional odds into the box that states Fractional Odds. Fractional odds look like 2-1 0r 13/5. Press convert and the decimal odds will be shown in the Decimal Odds Box. Odds can be displayed in many different ways, including as fractions, decimals and if you're in the USA, with a positive or negative sign. Therefore, an odds converter allows you to quickly convert US Odds (such as +100) to UK odds (such as 1:1) to Australian Odds (such as $2.00). The different formats of odds include: Fraction; Decimal; American odds; Implied probability; Fraction and decimal odds are the most popular format of odds used by the majority of online bookmakers. An example of a fraction odd is 2/1 – this means that for every £1 a customer bets, you will receive £2 if.
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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.
American To Decimal Odds Converter
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.
Betting Odds Converter Fraction To Decimal Chart
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.