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Nov 6, 2023 · Simple enough so far! Converting Odds to Implied Probability. Betting odds actually represent the implied probability or likelihood of something happening. We can use the odds to calculate this: Positive odds: Take the + number and divide it by that number plus 100. +700 odds = 7 / (7 + 100) = 7% probability.
The implied win probability of +270 odds is 27.03%. If you'd like to see the implied win probability of other odds values you can check our Moneyline Converter. American Odds of +270 when converted to decimal odds are $ 3.70 and when converted to fractional odds are 27/10.
- American Odds
- Fractional Odds
- Decimal Odds
You’re most likely to come across American odds when you’re betting at American sports betting sites. This odds expression indicates a bettor’s return relative to a base figure of 100 units. American odds start with either a positive or negative sign (e.g. -200 or +200). A minus sign indicates a bookie’s favorite to win while a plus symbol indicate...
Displaying odds in a fractional format is more common in overseas markets, such as the UK, than at US online sportsbooks, but it’s useful to understand them nonetheless. Fractional odds are some of the most simple to understand, as they present your potential winnings as a fraction of the money you stake: while the denominator represents the amount...
The decimal odds format, also known as European odds, represents the multiple of your stake that you will get back for winning a bet. While these are more common at overseas betting exchanges, you may see these at US betting sites. For example, betting on a market priced at 2.5 means you would win two and a half times your stake if your bet were to...
Feb 19, 2024 · Decimal odds: These are the most common type of betting odds in Europe and most other parts of the world. They are expressed as a decimal number, with the amount won being equal to the amount wagered multiplied by the decimal odds. For example, odds of 2.0 mean that for every $1 wagered, the gambler will win $2.
Nov 13, 2023 · Fractional odds like 5/2 tell you the profit relative to your risk amount. 5/2 means for every $2 bet, you profit $5 if you win. Decimal odds indicate the full payout on a $1 bet. 2.40 means your $1 risk profits $1.40 for a total return of $2.40. Converting odds formats takes some practice but it‘s a useful skill.
Jan 26, 2024 · Odds with a negative (-) symbol indicate the betting favorite. The number that follows the negative symbol (the odds) reveals how much to bet for every $100 you want to win. For example, if the ...
Jan 25, 2022 · Betting $10 with 3-1 odds will give you a $30 profit plus your $10 back. Betting $10 with 7-4 odds would net $17.50 plus the original $10. Multiply the $10 by the numerator, which in this case is ...
