How To Convert Odds

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How do you convert odds into their implied probabilities? And how do you convert implied probability into the range of popular odds formats? Use our odds conversion calculator or learn the formulas behind.

Knowing how to convert betting odds can be very helpful. In fact, if you don't know how to convert betting odds into their respective implied probabilities, you're not helping your chances of coming away as a long term winner in the competitive world of sports betting. Understanding the implied probability behind the odds on offer is key to assessing the potential value in a particular betting market.

And it is just as important when assessing the value that exists with regards to specific odds on a particular outcome. If the implied probability is less than your own assessed probability of a particular outcome occurring, that outcome represents a value betting opportunity.

Odds Conversion

1. To Convert Odds In The Easiest Way Possible - Use Our Conversion Calculator
2. To Convert Odds Yourself - Use Our Step By Step Guide
3. To Convert Odds To Implied Probability- Follow These Instructions
4. To Convert Implied Probability To Odds - Follow These Instructions
5. Odds Conversion Chart


Odds Conversion Calculator

If you're looking for a quick calculation, then our Odds Conversion Calculator is perfect for you.

Simply enter the odds and the odds conversion tool will do the calculation for you. A total of six odds formats are supported including decimal, fractional and American odds.

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If, however, you want to learn how to convert odds to implied probability and how to covert implied probability to various odds formats, please read on. This article explains in detail how to convert the three most popular odds formats in the world - decimal, fractional and American - into their implied probabilities and how to convert an implied probability into either of these odds formats.

Our Odds Conversion Calculator will also convert a probability into odds. Want to know what 70% probability is represented as "Decimal Odds"? Our odds conversion tool will show you. Simply enter the probability as a percentage and our odds conversion tool will do the rest.

You can also embed this tool on any webpage by adding the above embed code at the bottom of the calculator.


 How To Convert Odds: Step By Step Guide

There are three basic steps to converting odds

1. Understand the odds format by answering the question: Are the odds you want to convert Decimal, Fractional or American?

2. Convert the odds to their implied probability.

3. Convert the implied probability to your preferred odds format.

For example, "Decimal Odds" of 3.00 has an implied probability of 33.3% which can then be converted to fractional odds of 2/1.

This article discusses this process of odds conversion in detail with the use of step by step real world examples. If you're completely new to betting odds and implied probability, the video below presents a great introduction and overview.


How To Convert Odds To Implied Probability

Typically, there are three kinds of odds you will come across in the sports betting landscape.

  • "Decimal Odds": represented as 1.65 or 2.95 etc.
  • Fractional odds: represented as 5/2 or 3 to 2 'on' etc.
  • Moneyline odds: represented as -120 or +140 etc.

They all reflect the same thing, the return you will receive on a given amount of money placed on a bet. To convert your odds to implied probabilities or an implied probability to odds, you can either use our odds conversion calculator or do it by hand with the formulas provided below the calculator.

3.1 Converting "Decimal Odds"

"Decimal Odds" are a simple reflection of the return you will receive for each single unit placed. For example, let's say bookmaker Matchbook is offering odds of 1.65 for Manchester United to win. This means that for every 1.00 you bet on that particular outcome, you will receive a profit of 0.65 should Manchester United win.

To convert these odds to their respective implied probabilities we make a simple calculation.

Converting "Decimal Odds" to implied probability formula:

Implied probability = 1 / "Decimal Odds"

Let's look at an example, in which Diego Costa to get a yellow card is odds 1.65.

Example: How to convert "Decimal Odds" to its implied probability

1 / 1.65 = 0.606 = 60.6%

Multiplied then by 100 to express as an implied probability percentage of 60.6%.

3.2 Converting Fractional odds

Fractional odds are generally the most traditional form of expressing betting odds. They are a simple reflection of the return you will receive for a particular amount bet.

So for example, let's say bookmaker Ladbrokes is offering odds of 5/2 for a particular horse to win an upcoming race. The odds of 5/2 (expressed as "5 to 2") means that for every 2 units that you bet, you will receive 5 back as profit. So if you bet €200 on that horse, you would have received €500 profit in return plus your original stake of €200.

Converting fractional odds into implied probability formula:

Implied probability = denominator / (denominator + numerator)

Let's look at an example, in which Diego Costa to get a yellow card is odds 5/2.

Example: How to convert fractional odds to its implied probability

5 / 2 = 2 / (2 + 5) = 2 / 7 = 0.2857 = 28.57%

Multiplied then by 100 to express as a implied probability percentage of 28.57%

3.3 Converting Moneyline Odds

Moneyline odds, also known as 'American odds' are probably the most foreign odds format to those of us outside of North America. And at first they appear a little confusing. But it is helpful to understand what these odds represent especially when listening to Americans speaking about gambling odds in sports broadcasts or podcasts. So, let's see how we can convert Moneyline odds into their respective implied probabilities.

There are two instances of Moneyline odds: 'minus' moneylines and 'plus' moneylines.

The first are 'minus' moneylines. This is expressed as for example, -120. But what does this mean exactly? Well, let's say bookmaker bet365 are offering odds of -120 for the Los Angeles Lakers to win a game. This is essentially saying that to win $100 you have to bet $120. In other words, if you place $120 on that outcome, you will receive a profit of $100.

The other instance are 'plus' moneylines. This is expressed as for example +180. In this case, let's say bookmaker Winner Sports have offered odds of +180 for the New York Yankees to win a game. This simply means that if you bet $100, you will win $180.

So how do we convert the the 'minus' and the 'plus' moneyline odds into their implied probabilities? Let's start out with the 'minus' moneyline conversion:

Converting 'minus' moneyline odds into implied probability formula:

Implied probability = ( - ( 'minus' moneyline odds ) ) / ( - ( 'minus' moneyline odds ) ) + 100

So let's take an example, in which Titanbet offers the following bet: San Diego Chargers to win against New England Patriots at odds -120.

Example: How to convert 'minus' moneyline odds to its implied probability

(- (-120) / ( (- (-120) ) + 100) = 120 / 220 = 0.545 = 54.5%

Multiplied then by 100, we get the implied probability percentage of 54.5%.

Converting a 'plus' moneyline is a bit different. Calculating the implied probabilities on these look like this:

Converting 'plus' moneyline odds into implied probability formula:

Implied probability = 100 / ( 'plus' moneyline odds + 100 )

So let's take an example, in which Paddy Power offers odds +180 for Los Angeles Lakers to beat Miami Heat.

Example: How to convert 'plus' moneyline odds to its implied probability

( 100 / 180 + 100 ) = 100 / 280 = 0.357 = 35.7%

Multiplied then by 100, we get the implied probability percentage of 35.7%.


4. How To Convert Implied Probability Into Odds

Knowing how to convert one form of odds to another can be helpful, especially if you have come into possession of a large amount of betting data that has odds formatted in an unfamiliar way.

To do this, we first need to convert any odds format to their implied probability. Once we have done this, the calculations are fairly straight forward.

4.1 Converting Implied Probability Into "Decimal Odds"

Converting implied probability into "Decimal Odds" formula:

"Decimal Odds" = 100 / implied probability

Let's take an example. In this example we think that Arsenal has a 75 % probability of defeating Stoke. To calcluate our "Decimal Odds" target, we want to covert 75 % into odds:

Example: How to calculate implied probability to "Decimal Odds":

100 / 75 = 1.33

Implied probability of 75% would return "Decimal Odds" of 1.33.

4.2 Converting Implied Probability Into Fractional Odds

Convert implied probability into fractional odds formula:

Fractional odds = ( 100 / implied probability ) -1

Let's look at an example, where we think Wayne Rooney has 25% probability of scoring a goal. In this example, the fractional odds target will be calculated as:

Example: How to convert implied probability to fractional odds:

(100 / 25) - 1 = 4 - 1 = 3

The outcome of this formula is 3, meaning we will express the odds as fractional odds = 3 to 1.

4.3 Converting Implied Probability Into Moneyline Odds

Converting implied probability into moneyline is a bit more complicated than converting it into decimal or fractional odds. The calculation depends on whether the implied probability is above 50% or below.

When the implied probability is above 50%, we make the following calculation.

Convert implied probability (50% and above) into moneyline odds formula:

Moneyline Odds = - ( implied probability / (100 - implied probability)) x 100

Let's look at an example, where we think Lionel Messi has a 75 % chance of scoring against Levante. In this example, the moneyline odds target will be calculated as:

Example: How to convert implied probability (50% and higher) to moneyline odds:

- (75 / (100 – 75)) x100 = - (75 / 25) x 100 = - 3 x 100 = - 300

Moneyline odds = - 300.

When the implied probability is below 50%, the calculation is adjusted a little.

Convert implied probability (below 50%) into moneyline odds formula:

Moneyline odds = (100 - implied probability / implied probability ) x 100

Let's look at an example, where we think Niclas Bendtner has a 25 % chance of scoring against VfB Stuttgart. In this example, the moneyline odds target will be calculated as:

Example: How to convert implied probability (below 50%) to moneyline odds:

((100 - probability)/(probability) x 100) = ((75) / (25) x 100) = 3 x 100 = 300

Moneyline odds = + 300.


5. Odds Conversion Chart

As a quick comparison guide, we've created an odds conversion chart which displays the odds and implied probability across each odds format.

Odds Conversion Chart


Implied Probability %Decimal OddsFractional Odds American Odds
99.0  1.01   1/100 -10000 

 98.0

1.02   1/50  -5000

 97.1

 1.03  1/33 -3333 

 96.2

 1.04  1/25 -2500 

 95.2

 1.05 1/20  -2000 

 94.3

 1.06  3/50  -1667

 93.5

1.07  7/100   -1429

 92.6

 1.08  2/25  -1250

 91.7

1.09   9/100  -1111

90.9 

 1.10 1/10  -1000 

 90.1

 1.11  11/100 -909 

89.3 

1.12 3/25 -833 

 88.5

1.13  13/100  -769
87.7  1.14  7/50  -714

 87.0

1.15  3/20 -667

 86.2

 1.16  4/25  -625

 85.5

 1.17  17/100  -558

 84.7

 1.18 9/50   -556

84.0 

 1.19 19/100   -526

 83.3

 1.20  1/5  -500

 82.6

 1.21  21/100  -476
 82.0  1.22 11/50   -455

81.3 

 1.23 23/100   -435

 80.6

 1.24 6/25   -417

 80.0

 1.25  1/4  -400

79.4 

 1.26  13/50 -385 

 78.7

 1.27  27/100  -370

 78.1

 1.28 7/25   -357

77.5 

 1.29 29/100   -345
 76.9  1.30 3/10   -33

 76.3

1.31  31/100   -303
 75.8  1.32 8/25   -313

 74.6

 1.33  17/50 -294 
 74.1  1.34  7/20  -286

 73.5

 1.35  9/25  -278

 73.0

 1.36  37/100  -270

 72.5

 1.37  19/50  -263
71.9   1.39  39/100  -256

 71.4

 1.40  2/5  -250
 70.9  1.41  41/100  -244

 70.4

 1.42 21/50   -238
 69.9  1.43  43/100 -233 

 69.4

 1.44  11/25  -227

 69.0

1.45  9/20  -222
 68.5  1.46  23/50  -217

 68.0

 1.47  47/100  -213
 67.6  1.48  12/25  -208

 67.1

 1.49  49/100 -204 
 66.7  1.50  1/2  -200

65.8 

1.52  13/25  -192
 64.9 1.54  27/50  -185

 64.1

1.56  14/25  -179
 63.3 1.58  29/50  -172
 62.5 1.60  3/5  -167

 61.7

1.62  31/50  -161
61.0  1.64  16/25  -156

60.2 

1.66 33/50   -152
 59.5 1.68  17/25  -147

 58.8

1.70  7/10  -143
 58.1 1.72  18/25  -139
 57.5 1.74 37/50   -135

 56.8

1.76  19/25  -132
 56.2  1.78  39/50  -128

 55.6

1.80  4/5  -125
 54.9 1.82  41/50  -122

54.3 

1.84  21/25  -119
 53.8 1.86  43/50  -116
 53.2 1.88  22/25  -114

52.6 

1.90  9/10  -111
52.1 1.92  23/25  -109

51.5 

1.94  47/50  -106
 51.0 1.96  24/25  -104

 50.5

1.98  49/50  -102
 50.0 2.00  1/1  -100
 49.5 2.02   51/50  102

 49.0

2.04  26/25  104
48.5   2.06  53/50  106

48.1 

2.08 27/25 108
47.6 2.10  11/10 110 

 46.5

2.15  23/20  115
45.5  2.20  6/5  120
 44.4 2.25  5/4  125

 43.5

2.30  13/10 130 
42.6  2.35  27/20 135 

 41.7

2.40  14/10  140
40.8 2.45  29/20  145

 40.0

 2.50  3/2  150
 38.5 2.60  8/5  160
37.0  2.70  17/10  170
 35.7  2.80  9/5  180
 34.5  2.90  19/10  190
33.3   3.00  2/1 200 
 31.3  3.20 11/5   220
 29.4  3.40  12/5  240
 27.8  3.60 13/5  260 
26.3   3.80  14/4 280 
 25.0  4.00  3/1  300
 23.8  4.20  16/5  320
22.7   4.40  17/5 340 
 21.7  4.60  18/5  360
 20.8  4.80  19/5  380
 20.0  5.00  4/1  400
 19.2 5.20   21/5  420
 18.5 5.40  22/5   440
 17.9 5.60   23/5  460
17.2  5.80   24/5  480
 16.7 6.00   5/1 500 
 16.1  6.20  26/5  520
 15.6  6.40  27/5  540
 15.2  6.60  28/5  560
14.7   6.80  29/5  580
14.3   7.00 6/1   600
13.3   7.50  13/2  650
 12.5  8.00  7/1 700 
 11.1 9.00 8/1  800
 10.0  10.00  9/1  900
 9.1  11.00  10/1  1000
 8.3  12.0 11/1   1100
 7.7  13.0  12/1  1200
 7.1  14.00  13/1  1300
 6.7  15.00  14/1  1400
 5.0 20.00 19/1   1900
 3.3 30.00   29/1  2900
 2.5 40.00   39/1  3900
 2.0  50.00  49/1  4900
 1.0  100.00  99/1 9900 
 0.7  150.00  149/1  14900
 0.5  200.00  199/1  19900

Bookmaker Odds Settings

Most online bookmakers now offer alternative display options for their odds. Below you can see the odds options available at bet365. Simply check your preferred odds format and all odds in all markets offered by bet365 will appear in that format.

bet365 sign up bonus

So let's sum it up.........

How To Convert Odds

While there are many tools on the web that will help you convert odds to their implied probabilities and convert odds to other formats, it is still a good practise to understand the calculations behind these conversions. This will only help you better understand what the odds represent in terms of value as well as exercising your betting brain to think instinctively in terms of implied probabilities when odds are presented to you.


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