Odds convertor

Why Use an Odds Converter?

An odds converter is an indispensable tool for everyone active in sports betting. The converter allows you to enter your odds and have them immediately converted to American, decimal, and fractional odds. It also estimates the bet’s implied probability and reward if a win occurs.

Understanding Betting Odds

Sports betting odds can be presented in three primary formats: American, Fractional, and Decimal. Although they function similarly, especially in terms of potential payouts, each format has its own variation. This can make understanding them a sort of challenge. Bettors are best to recognize how these odds correlate with their wagers before staking.

To simplify this process, our betting odds calculator tool is available. The tool was created by industry experts to streamline conversions. By utilizing the calculator, you can easily convert odds between formats. This helps you better understand what each wager means for your potential returns. 

American Odds 

You might know this format as money line odds. They are quite popular in the United States, hence the name “American Odds.” They are presented as positive (+) or negative (-) numbers. These numbers indicate how much you can win on a bet or how much you need to wager to win a certain amount. 

Positive odds show the potential profit on a ₱100 bet. Negative odds indicate the amount you need to bet to win ₱100. Positive odds are typically associated with underdogs. They offer higher payouts and lower winning probability. Conversely, negative odds are linked to favorites. Negative moneyline odds reflect a team’s higher chances of winning; hence, they have smaller returns. 

For example, let’s consider a game between the Pittsburgh Steelers and the Kansas City Chiefs. A +585 odds for the Steelers means that a ₱100 bet would yield a win profit of ₱585. Let’s consider a second scenario. This time, the Chiefs have odds of -760. In such a scenario, you will need to bet ₱760 to win ₱100. Our illustrations showcase how American odds are significantly based on the team’s perceived strengths.

Decimal Odds

Decimal odds are the most commonly used odds format. They are straightforward and popular in several European, African, and Asian countries. However, they are often referred to as “European odds.” Decimal odds represent the total return for every Philippine peso (PHP) wagered, stake included. It is considered gambler-friendly as the potential payout calculations are simplified. 

Example: A soccer team has decimal odds of 3.50 to win. This means that for every ₱1 staked, the punter would receive ₱3.50 if the team wins. It’s a simple multiplication to calculate the return on any bet amount. The ₱3.50 returned includes the initial $1 stake. Therefore, the actual profit amounts to ₱2.50. This ease of calculation makes decimal odds a favorite among many bettors.

Fractional Odds

This format of sports betting odds is particular to the UK and Ireland. It is mostly used in traditional British sports such as horse racing. Fractional odds have also been adopted into futures markets. Like the name, they are displayed as a fraction, such as 5/1 or 1/4, indicating the profit relative to the stake.

Fractional odds are essentially simple math. The numerator (the first number) represents how much profit you will make from a bet equal to the denominator (the second number). The sum of this division is then multiplied by your bet amount.

• Numerator > Denominator, e.g 5/1 = Higher payouts than original stakes
• Numerator < Denominator, e.g., 1/5 = 20% of stake as profit (lower payout)

Let’s take a horse racing example;

If a horse is listed at 5/1 odds, this means that for every ₱1 staked, a win will result in a ₱5 profit. So, if you were to bet ₱10 at these odds, you would receive ₱50 in profit. The profit excludes your ₱10 stake, meaning you will receive a total of ₱60.

A second scenario involves a horse listed at 1/4. This signifies that you would need to bet ₱4 to win ₱1 in profit. Therefore, a ₱4 bet would yield a total return of ₱5 (₱1 profit plus the ₱4 stake). This type of odds is often seen when a competitor is heavily favored to win.

Implied Probability 

Aside from conversion, our calculator has the implied probability odds computation feature. For those unfamiliar with the concept, implied probability refers to the likelihood of a particular outcome according to the listed odds. It is a way of converting the traditional odds formats (American, Decimal, and Fractional) into a percentage representing the expected probability.

The first thing to note is that implied probability takes into account the bookmaker’s margin (house edge). This means that the implied probability tends to be higher than the actual probability. Why? The bookmaker needs to ensure a profit margin.

Let’s take a team that has odds of 2.00 (decimal) to win a match as our example. The implied probability of them winning would be 50%. However, the actual likelihood of a win could be slightly lower, say 47%. The bookmaker’s margin would account for the remaining 3%.

Bettors use implied probability to assess bet values. A bet evaluated above the implied probability suggests a valuable opportunity. Conversely, a bet estimated below the implied probability may indicate an unfavorable outcome.

Calculating implied probability is a straightforward process. Here’s how to do it;

• American odds: 

Implied Probability = 100 / (1 + Absolute Value of American Odds). 

• Decimal odds: 

Implied Probability = 1 / Decimal Odds. 

• Fractional odds:

Implied Probability = Denominator / (Numerator + Denominator).

In short, understanding implied probability helps bettors find market value. This help them make strategic wagers based on outcome likelihood.

Key Features of Our Odds Converter

Here are five key features highlighting the odds converter:

1. User-Friendly Interface

Our odds converter is the definition of simplicity. The interface was designed to ensure easy navigation. This makes the tool suitable for every type of bettor. That said, odds can seamlessly be converted across different formats. The input fields are easy on the eye and conversion occurs without complex steps. 

2. Multiple Odds Formats

The odds converter tool supports the traditional odds formats: American, Decimal, and Fractional. This allows you to convert between each odds seamlessly. Therefore, your calculations are quick, and you achieve real-time results. Whether you are dealing with European, UK, or US odds, our converter has got you covered.

3. Implied Probability Calculator

An implied probability calculator computes probable outcomes from any odds format. This is useful for punters looking to make smarter betting decisions. Users of the tool can go a step further by comparing the provided probability with personal predictions. The results help spot value bets and optimize strategies.

4. Mobile and Desktop Compatible

Our odds converter was created with an in-built adaptability mode. This means the tool can function on desktop and mobile devices (Android and iOS). Wherever you may be, accessibility is not a problem. Just take your device, input the website address into your browser, and convert the sports odds. 

5. Fast and Accurate Results 

If you desire lightning-fast conversions and probability calculations, our odds converter should be your first choice. Our calculator was programmed to give instant and accurate results. With results generated from the algorithm, you can make quicker and more informed betting decisions.

How to Use the Odds Converter

Using our odds converter is straightforward. Follow these simple steps to convert your odds:

1. Select the Input Format: Choose the format of the odds you want to convert (e.g., decimal, fractional, or American).
2. Enter the Odds: Input the odds you want to convert based on your input format 
3. Select the Output Format: Choose the format you want to convert the odds. There is also the implied probability option.
4. Get the Results: The tool will instantly display the converted odds.