Fractional Odds To Percentage

For example, a bet placed at +200 in American odds (2/1 in fractional or 3.00 in decimal) has a 33.33 percent implied winning probability. A bet placed at -200 in American odds (1/2 in fractional. The calculation for converting fractional odds to US odds differs depending on whether you’re converting odds over 1/1 (an underdog) or under 1/1 (a favourite). However, you’ll always need to convert the fraction into a decimal, dividing the numerator by the denominator. For odds over 1/1, you then multiply the fraction by 100. How To Convert Decimal Odds To Fractional. There are two steps to convert decimal odds into a fraction. Step 1) Convert decimals odds into a fraction by subtracting 1, and using 1 as the denominator. Example: 3.40 – 1 = 2.40. This creates the decimal odds of 2.40/1. While this is a perfectly good fraction, bookmakers never use numbers with.

With esports betting becoming more and more popular, it’s good to know about the different types of esports odds. These odds come in several forms. In this article I will take you through the basics so that you may fully understand what the various esports betting sites are showing you.

The three main types of esports betting odds are the following:

1. Decimal Odds

Decimal odds are called decimal because they come in decimal form.

Examples include: 1.80, 2.40, 4.00 and so on.

The meaning of these odds is very simple: your total returns are whatever the odds show you multiplied by the amount you wagered.

So if you bet $5 that team A will win the match and team A’s odds of winning are 1.80, you get a return of 5 * 1.80 = $9. If you wager $20 on a team whose odds are 4.00, the amount you get in case of a win will be 20 * 4.00 = $80.

Two things you’ll want to know here is how to convert odds to percentage and how to convert odds to probability.

Decimal Odds to Percentage

Another way of understanding decimal odds is using percentages.

So instead of 1.80, think of this as 180%. Instead of 2.40, think 240%. And 4.00 would actually mean 400%.

Of course, these percentages include the amount you’ve wagered. So it’s not 180% profit but 180% returns. The profit is actually just 80%. In the second case, the profit is 140%. In the third it’s 300%.

So you always have to decrease your initial amount or 100% in order to find what you’re actually making.

Decimal Odds to Probability

If you want to find out the win probability of a given bet in the bookmaker’s assessment, just do it this way: 2.00 is exactly 50%. Anything below that is less than 50%. Anything above that is more than 50%.

The general formula for turning decimal odds to probability is this: 100/odds.

If a team’s odds of winning are 5.00, their estimated chance of winning is 20%.

Of course, all of this is true in the bookmaker’s assessment. But that doesn’t mean it’s 100% correct. In fact, sometimes you will find the real favorite regarded as the underdog, simply because the bookmaker doesn’t understand what’s going on. These are the situations in which you can make a lot of money.

Ultimately, you shouldn’t be worried about what the bookmaker is telling you and simply assess the situation yourself, using your own esports knowledge and seeking bets that give you good risk/reward ratios.

2. Fractional Odds

Fractional odds look like this: 5/1, 8/1, 2/1 and so on. Their general form is x/y, which means this: you make a profit of x dollars for every y dollars you wager.

So in the first example (5/1), you make $5 for every $1 you wager. And that’s just your profit. The total amount you get back is actually $6 (your profit plus the dollar you wagered).

Just like with decimal odds, you’ll want to know how to convert odds to percentage and how to convert odds to probability.

Fractional Odds to Percentage

When turning fractional odds to percentage in order to calculate profitability, the general rule is to determine how many dollars you get for each dollar you wagered and then multiply that with 100. That will give you your profit in percentages.

So in the first case (5/1), you’d get a profit of 500%, while your total returns would be 600%.

But let’s take a more difficult example, such as 7/2. In this case, you’d get a profit of $7 for each $2 you wagered. To figure out the percentages, just divide 7 by 2 and then multiply with 100. What you’d get is 700/2 or 350%.

Fractional Odds to Probability

If you want to turn fractional odds to probability in order to figure out the win probability of a given team according to the bookmaker, just use the following formula: given the odds of n/m, the number you’re looking for can be found like this: (m/(m+n)) * 100.

For example: 4/1 would give us (1/(4+1)) * 100 or (1/5) * 100 or 100/5 or 20%.

3. American Odds

These types of odds are the most unusual and difficult to grasp at first, because it’s hard to deduce what they mean unless someone explains them to you.

And their meaning is this: when you see the minus sign (-), that’s the favorite. And the number followed by it represents the amount you need to wager to make a profit of $100.

When you see the plus sign (+), that’s the underdog. And the number followed by it represents the profit you’ll make for every $100 you wager.

For example:

Team A: -760

Team B: +585

If you wanted to bet on team A, for each $760 you wagered you’d make a profit of $100, meaning that you’d get a total of $860 back.

If you wanted to bet on team B, for each $100 you wagered you’d make a profit of $585, meaning that you’d get a total of $685 back.

American Odds to Percentage

For underdogs, transforming American odds to percentage is simple: the odds themselves constitute the profit percentage. So in the above case, the percentage is 585%. Because you’re wagering $100 and making a profit of $585, So the percentage of the total return is actually 685%.

For favorites, what you do is this: you divide 10,000 by the number associated with them and you get the percentage you’re looking for.

In the example above, the result would be 10,000/760 = 13,15%. This would be your profit. So in total, you’d get back 113,15% of what you wagered.

American Odds to Probability

For the underdogs, the win probability can be obtained using the same method used for fractional odds.

So in our example, we’d have 5.85/1 and that would give us (1/(1+5.85)) * 100 or (1/6.85) * 100 or 100/6.85 or 14.6%. To calculate the win probability for the favorite, just subtract that from 100% and voila!

Fractional Odds To Percentage Calculator

If you want to learn more about Dota 2 odds, League of Legends odds or any other kind of esports odds, just check out our guides!

Knowing how to calculate odds is fundamental for any casino goer looking to improve their chances of winning, whether they’re a complete novice or an experienced player. If you can learn how to calculate odds you can make informed decisions about your betting strategy, increase the durability of your bankroll, and remain at the table long enough to (hopefully!) turn a profit.

If you’ve ever wanted betting odds explained, this in-depth guide is the place to go! We’ll walk you through the basic of how to calculate odds – with some examples in popular casino games. Then, once you’re in the know about the different bets and your chances of walking away a winner, you’ll be ready to take on the house!

Betting Odds Explained

In essence, when you calculate odds, you’re attempting to accurately predict how likely it is that an event will happen versus how unlikely it is. In a betting environment, if your prediction is correct, you’ll win money. Betting odds are usually presented in one of three ways, as either a fraction, a percentage, or a decimal – though the latter is normally reserved for sports betting returns. Thankfully, you don’t need to be an ace mathematician

Calculate Odds – Fractions

Fractional odds are probably to most common when assessing the chances of winning in the casino, primarily because they are easy to identify and understand. In addition, they give you a clear indication of your betting returns.

Examples of fractional odds may be 20/1, 9/2, 2/1, and so on. In this format, you can calculate odds by comparing the first number with the second number – if the odds are 20/1, you’re 20 times more likely to lose than to win. If you throw a six-sided die and are asked to guess which number will come up, your odds are 6/1. If you’re asked to guess two numbers, your odds become 6/2. The convenient part of learning how to calculate odds with fractions is that they can be simplified, so 6/2 would become 3/1, making it easier to understand your chances.

On top of this, fractional odds help you calculate your betting returns. If your odds are 10/1 and you place a £5 bet, you stand to win £50 if your bet comes through, plus the return of your stake.

Calculate Probability

Converting fractional odds to percentages can be a great way of understanding your chances of winning. This is done in an easy formula: Percentage = B / (A+B). While this may seem complicated and unnecessary, the actual process is simple and is an effective way of contexualising your probability. In the formula, A and B represent the first and second numbers that make up your fractional odds – with 10/1 odds, 10 would be ‘A’ and one would be ‘B’!

Fractional Odds To Percentage

If you were to calculate odds, 10/1 for instance, the formula would be 1 / (10+1) = 0.09. This means that at 10/1 odds, your probability of winning is 9%. If you had fractional odds of 16/3, to provide another example, you could put that into the existing formula and have 3 / (16+3). If calculated correctly, the probability of you winning this wager would be 15.8%.
The only downside to using percentages to calculate your odds is that there is little to no indication of your potential betting returns.

How Do Fractional Odds Work

Calculate Odds as Decimals

Decimals are becoming a prevalent way to calculate odds, though this does mostly apply to sportsbooks rather than casinos. As with fractions or percentages, the bigger the decimal odds, the less likely it is that the event will happen. The main advantage of decimal odds is that you can easily work out your betting returns regardless of your stake.

Fractional Odds To Percentage Decrease

Again, there is a simple mathematic equation to calculate your potential betting returns: Winnings = (Odds x Stake) – Stake. Let’s explore an example of decimal odds in action:

If you correctly calculate odds, you can see that your potential returns would be £45!

How to Calculate Your Odds in the Casino

Now that you’ve learned how to calculate odds, let’s apply some of these rules to an actual casino game – specifically roulette.
One of the easiest and most risk-free bets you can make on a roulette table is red or black. On a European roulette table, there are 37 separate pockets: 18 red, 18 black, and a green zero pocket. So, if you bet on red, for example, your fractional odds would be 18/37. If you calculate your odds, the probability that red will come up is 48.6% as the single green tips the advantage to the house.

Alternatively, if you bet on a single number your odds of winning would be 1/37. In this scenario, the probability that you’d win your bet is just 2.7%, with a 35:1 payout. This means that if you bet £5 on a single number and won, your payout would be £180 in total!

It’s important to understand that every casino game carries different odds and each way of calculating odds may not apply. However, with a firm knowledge of how to calculate odds, you can start to apply the methods in any casino game or betting environment of your choice.

Fractional Odds Calculator

Now that you’ve had betting odds explained to you in detail, why not try out an online roulette, blackjack or baccarat game to put your new knowledge into practice!