Here you’ll get to see how to use our odds calculator to quickly switch the odds from American to decimal or fractional and vice versa. Discover the thrill of sports betting in the world of mixed martial arts. Decimal odds represent the total amount you will be paid if the bet wins, including the original stake. In addition, we will explore the benefit of having a Skrill account in the world of sports betting. The higher the confidence level the more certain you can be that the interval contains the true odds ratio. When the prevalence of the outcome is low, the odds ratio can be used to estimate the relative risk in a case-control study.

How to Read Indonesian Odds

Decimal betting odds of 2.40 therefore equate to American odds of +140, and you can use this betting odds calculator to quickly work that out. Using BMR’s betting odds and scores product, you might find odds of -160 on the Cincinnati Reds to beat the Pittsburgh Pirates, and +140 on the Pirates winning the game. This odds converter calculator allows sports bettors to quickly and accurately convert odds from one format to another. The odds are set based on the implied probability of the outcome, such as a horse winning a race, or a football player scoring a goal. With a -500 price (1.20 decimal or 1/5 fractional) your successful bet with a £100 stake gives you a £20 profit, so £120 total returns.

The odds calculator allows you to convert any set of odds to your preferred format quickly. You will often see odds displayed in a range of different formats, but most bettors have one particular format they are most comfortable with. Paddy’s takeout on this race, whatever wins should be 24.8% if they have balanced their bets correctly. This means that you have to take each horse’s decimal odds and divide 1 by it, then add all those numbers together. Sporting Life is the complete sports fan’s destination, offering in-depth editorial content, unrivalled sports odds converter data and insights, and informed betting tips – all under one roof.

🧩 5. Combine 21/10 Bets Creatively

Betting odds work by showing punters the implied probability of an event occurring. Betting odds are simply a method that bookmakers use to describe how much chance of winning a particular bet has. By the end of this piece, hopefully, you will understand betting odds considerably better than before, so you are confident using them with your bookmaker and on betting exchanges.

The precise method you use depends on whether you are looking at decimal or fractional odds. This is why some punters like 888sport prefer decimal odds, particularly younger punters, who haven’t grown up with the traditional fractional versions. Many punters like to use fractional odds, perhaps because they find them more familiar or they want to quickly be able to calculate their profit. This ability to see betting odds as percentages is an important stage in your betting evolution. You could also use our Average Odds calculator to find out the average odds of multiple selections or our Odds Converter software to switch the format of your bet odds further. Implied probability is the expected chance of the bet coming true and can be calculated based on the odds presented by bookmakers.

By keeping notes of the betting odds, you got for all of your bets, you will have an incredibly useful resource that will enable you to spot patterns in your betting. For example, if you bet on Leicester City to win an FA Cup game at fractional odds of 3/1. This calculation tells you that fractional odds of 11/10, when converted to decimal odds, are 2.1.

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• You can see the bracket parts (£200) refers to the profit you make on the bet, whereas the non-bracket part of the equation simply returns your betting stake to you (£50)
• However, odds of 3/1, mean that there is only a 25% chance of that event occurring.
• We can in fact directly compare the odds for boys and the odds for girls by dividing one by the other to give the Odds Ratio (OR).
• They tell you the potential return you can expect by placing a successful wager, including your profit and the return of your stake.Sticking with the example used above, Pittsburgh would be priced at 1.63 to win the game in decimal odds, while Cincinnati would be 2.40.

This is the probability of rolling the number in relation to the probability of rolling any of the other numbers. Moneyline odds, or US odds, are tricky for anyone who’s not used to them. This is calculated as 100 divided by the probability of 20%. Another way of putting this is that there’s a one in five chance of the horse winning.