Sports betting sites across the globe tend to use different odds formats on their markets. Use our sports betting odds converter below to quickly know the odds of a wager in various online sportsbooks. In addition, you can find helpful betting odds format facts below.
How to use the sports betting odds converter:
- Enter sports betting odds in their intended format.
- The converted ones will show in their respective fields upon entering the odds.
- Share or save the link for the different forms of specific sports odds.
Understanding the Odds Formats
Odds represent a sports event's chance of coming true and the possible payout of your wager. Betting markets come in four different betting odds formats. These formats make reading the markets much easier for specific demographic. Below is a brief explanation of each format and a sample calculation to help you read them.
American odds are centered on a $100 wager for sports markets and are one of the formats to use a plus (+) and minus (-) sign.
Reading a sports bet with a + or - sign is easy when you are familiar with a game's favorite and the underdog. Positive American odds are the underdogs or team/player who is less likely to win, while negative market odds are the favorites or ones who are favored to win. If you bet on a favorite, the odds are the required stake to win $100. On the other hand, underdog odds are the amount you will win when you stake $100.
To help you understand, here are NBA sportsbook money line odds for the Knicks and Suns. The Knicks have a -150 American odds to win, while the Suns have a +190 odds. Backing the Knicks and winning $100 requires you to stake $150. If you back the Suns, you will win $190 while you risk $100.
Sportsbook odds in decimal format are all about the possible payout of a market. Decimal odds also provide a quick estimate of its chances of winning.
Easily the most popular format around the globe, decimals odds are widely used by sports bookies within the UK, Australia, and Ireland. Decimal formats are straightforward, where higher numbers indicate an underdog or market with a low chance of winning, while odds close to 1.5 are the favorites.
Knowing the payout of decimal odds is also as easy as multiplying the odds with the amount you plan on staking. Let us use NFL sports betting odds with the Buffalo Bills at 1.8 and the Broncos at 4.7. If you risk $100 on the Bills and they win, you get $180. Should you use this money line converter and bet the same amount on the Broncos, you get $480 if they win.
The fractional format acts are made to give you an accurate computation of a specific sports market payout.
Fractional is nearly the same as decimals regarding format and popularity among UK punters. The best way to read these sports betting odds is to see whether the top number is higher or lower than the bottom. Faction odds with top numbers lower than the bottom indicate a favorite or a market that is likely to win, such as ¼. Meanwhile, an underdog bet is market odds, where the bottom number is lower than the top.
Calculating the sports betting payout of fractional odds is a simple multiplication of your stake with the market price. If you are to stake $100 for Liverpool (4/5) to win against Tottenham (3/1), you will win $180. When you back Tottenham instead, your payout is $400. Knowing the significance of a higher numerator or denominator will help you read football betting lines that are in fraction format.
Sports bettors utilize implied probability to turn betting odds into percentages, giving them an accurate read of the market's value.
Implied probability is a format to see the chances for a market to win. Bettors utilize this to get the potential value of money, like wagers for specific games. Naturally, markets with higher percentages are favored wagers over those with lower rates.
It is important to note that you will not know the potential payout of implied probability odds since bettors only use this to determine the value of the available markets. The money line calculator we offer for implied probability is useful for knowing the chances of your wagers winning.
Converting Different Odds to Specific Formats
Every sports betting market are convertible to a specific format through our handy odds calculator above. If you want to ensure the math is correct, see our guide on converting sports betting odds below.
decimal odds = 1 - (100/negative american odds)
decimal odds = 1 + (positive american odds/100)
Breaking down American odds is all about removing that 100 number from the price through a simple formula. Let us use baseball sports betting odds as an example where the Red Sox have a +190 money line odds for a game. When we use +190 as our example, the conversion should be 1+(190/100 )= 2.9.
Fractional Odds = (100/negative American odds)
Fractional Odds = (positive American odds/100)
Turning American odds into a fractional format simplifies the market price. If you need to convert a +210 to a fraction format, it would be 210/100= 21/10. Favored odds such as -160 would be 100/160= 13/21.
To Implied Probability
Implied probability = (1x(negative odds)) / (-1(negative odds)+)
Implied probability = 100 / (positive odds+100)
Implied probability conversion of American odds requires a complex formula for both favored and underdog markets. Converting a -150 odds should be (1x(150))/(-1(-150)+100) = 60%. For a +160 odds, it would be 100/(odds+100) = 38.46%.
Negative American Odds = -100/(odds-1)
Positive American Odds = (odds-1) x 100
Turning underdog decimal odds to positive American odds involves adding 100 to the price. Let us use American football sports odds with the Green Bay Packers having 2.1 odds of winning the finals. To turn a 2.1 money line odds into American format, you will get a computation of -100 / (2.1-) = +110
Fractional odds = odds-1
Decimals odds to a fractional format is as straightforward as subtracting one from the price and including one as its denominator. If we are to convert a total bet of 3.10, for example, it would be 3.10 - 1 = 2.10/1. You will notice there is a decimal in our fractional odds. Bookies will likely convert this to 11/10 to make the odds presentable.
To Implied Probability
Implied probability = (1/odds) x 100
The decimal odds to percentage format is as simple as (1/odds) x 100. You will notice how odds close to 1 have a higher percentage than those of 2.0 or higher. If you have a favored 1.80 market, its implied probability format is 55.56%, while an underdog 3.4 bet is 29.41%.
Positive American Odds = -100 / (odds)
Negative American Odds = (odds) x 100
Turning factional odds require the incorporation of 100 onto its price. If we have a 4/7 money line bet, it would be -100 / (4/7) = -175. For a 6/4 market, its conversion is (6/4) x 100 = +150.
Decimal odds = (odds) + 1
Fractional odds to decimals is incredibly straightforward, where you compute the fractional price to single digits and add a 1. For a 4/6 odds, the conversion is (4/6) + 1 = 1.67.
To Implied Probability
Implied probability = denominator / (denominator + numerator) x 100
Converting fractional odds to an implied probability involves dividing the denominator of the price by the sum of the numerator and denominator and multiplying the results by 100: denominator / (denominator + numerator) x 100. Turning a 5/4 fraction odds to implied probability would look like this: 4/(5+4) x 100 = 44.44%.
Betting Odds Converter: FAQ
Why do you need an odds converter?
Most bettors are used to a specific odds format. If they signed up for a sportsbook operating outside their jurisdiction, they would likely come up with an unfamiliar sportsbook market price. Our odds converter can help bettors read markets better to find a highly valued wager, helping you find the means to make money on sports bets.
Can you see the probability of winning your wager with the odds format?
Every betting odds format will show you the likely hood of a wager to win and the potential payout if you stake a specific amount. One example is an American odds of -140, which tells you that the market is favorable to win and will grant you $100 if you stake $140 in this bet.
What does the - and + mean with American odds?
A negative (-) American odds indicate a favored bet with a likely hood to win, while a positive (+) price is markets that are less likely to win. If you see the Pacers have a -160 price, the odds are high that they will dominate that game.
Why are there different odds formats?
Operators across different jurisdictions have their methods of making books or setting the odds for years. The regional book-making process is why you will likely see American odds on US sports betting sites and decimal prices on UK sites.
How can you benefit from an odds converter?
Line shoppers will likely encounter a "format barrier" through online sportsbooks. Using our odds converter, you can efficiently shop the best line for your favorite matches or races. This odds calculator can also help you determine the ROI of any sports market.
Do you need to convert the payout of a wager you placed when the odds change?
Bookies tend to change the odds when significant events occur that can affect a market's outcome. However, all wagers you placed prior to the change will have the same payout as the time you placed them.
Using our free odds converter, you will have no problem making bets on nearly any online sports betting site that use different price formats on their markets.