Enter odds in any format to convert between American, decimal, and fractional.
Bookmakers express the same price in different ways depending on where you are:
Everything goes through decimal odds:
The implied probability is 1 ÷ decimal odds × 100%: the chance the price suggests, before removing the bookmaker's margin.
6/4 = 1.5 + 1 = 2.50 decimal = +150 American. Implied probability: 1 ÷ 2.5 = 40%. A 10 stake returns 25 (15 profit plus the 10 stake).
−200 American = 100 ÷ 200 + 1 = 1.50 decimal = 1/2 fractional, an implied probability of 66.7%.
The bookmaker's built-in margin. If both sides of an even contest are priced at 1.91 (−110), each implies 52.4%, which adds up to 104.8%. The extra 4.8% is roughly the bookmaker's edge.
Divide each outcome's implied probability by the market total. In the example above, 52.4 ÷ 104.8 = 50% for each side.
Not necessarily. Higher odds mean a bigger payout but a lower implied chance of winning. A bet is only value if you believe the true probability is higher than the implied one.
Odds describe chance, not a strategy for winning. If betting stops being fun, free confidential support is available, such as the Gambling Helpline in New Zealand (0800 654 655), GambleAware in the UK and 1-800-GAMBLER in the US.