American Odds To Decimal
American to Decimal. Positive Odds (“+”): Divide the moneyline by 100 and add 1. Decimal = (moneyline/100) +1. Examples: +100: (100/100) + 1 = 1 + 1 = 2.00. +235: (235/100) + 1 = 2.35 + 1 = 3.35. Negative Odds (“-“): Divide 100 by the moneyline, then add this value to 1.00. Decimal = (100/moneyline) +. The calculation for decimal to American odds also depends on whether you’re converting odds on an underdog or favourite. For decimal odds of 2.00 or greater, you simply minus 1 and multiply by 100. So for decimal odds of 3.00, you do this: 3 – 1 = 2. Decimal Odds – Decimal Odds, also referred to as European Odds, are used in most European countries and are the default option of many Asian bookies as well. This is the easiest odds format to understand as the odds represent how much a 1 unit wager returns. For example a €1 wager at odds. This would be 3.00 in decimal odds, and 2/1 in fractional odds. The implied probability for these odds is 33.33%. In this example, the odds suggest that the player has a 33.33% chance of winning the match.
The simplest sports betting math many punters possess is the ability to convert odds and calculate break even percentages, also known as implied probabilities. After spending years doing these calculations, first on a windows calculator, and later in an excel spread sheet, I finally developed the Online Gambling odds converter you’ll find below.
Odds Converter Tool
[oddscalc]
In case you’re not familiar with the difference between American Odds called moneylines and European odds, which are in decimal format, here is how each works.
American Odds
Also known as moneylines, are offered as either a positive or negative number. When positive, the moneyline represents how much profit a punter stands to make on a $100 stake. To give an example, a line of +125 represents risk $100 to win $125 profit. Negative moneylines represent how much a punter needs to stake for a winning bet to profit $100. A moneyline of -235 is risk $235 to win $100 profit.
European Odds
Also known as decimal odds, represent how much a winning ticket is worth for each dollar staked. For example if a punter wagers $10.00 at odds 1.95 and wins, their payout is $10 x 1.95 = $19.50. A major difference between American and European odds is that while the American version is based on profit, the European version is based on return. Likewise, a $10 wager on odds 1.95 translates to risk $10.00 to potentially profit $9.50. Considering 1.95 pays less than even money, it would be expressed in American odds format as a negative moneyline.
The best way to convert American odds to European format, and vice versa, is to use the “odds converter” located above. For those of you interested in the math, I’ll cover it great detail later in this article. First let me discuss break even percentage and implied probability.
Implied Probability
Is how often a bet must win for it to have neutral value. To give the simplest example, take American odds +100 (which is the equivalent of 2.00 in European odds) where winning bets are paid even money, here the implied probability is 50%. This is because in American format risk $100 to win $100, and in European format stake $1 to return $2, you’ll need to win an average of 50% of the time to break even over the long haul.
Where our odds converter comes in handy is let’s say you’ve done an analysis on a game between the Boston Red Sox and Tampa Bay Rays and determined the Red Sox should be 57% favorites in this game. After price shopping, the best odds you can find on the Red Sox are -128, which in European format is 1.781. There are now two ways you can determine if you’ve found a good bet. The first method is to plug 57% into our odds converter under the required break even field. Doing this you’ll find at 57% the true odds in American format are -132.6 (1.754 European). Consider you’re getting better than this with the -128 (1.781 European) you have a profitable bet.
The second way you could approach the above problem, is to plug -128 into our odds converted under American odds. Here you’ll see the required break even rate (implied probability) is 56.14%. Considering your calculation of a 57% win probability comes out higher than the win rate needed to break even, you’ve find yourself a good bet.
Sports Betting Strategy You Should, but Most Don’t, Understand
For those with basic sports betting math skills, the sample problem I’m about to give will be easy to solve. If you’re stumped, or answer incorrectly, what you’re about to read could very well be what gets you on the path required to winning consistently at sports betting.
The sample
Every online betting site with odds on a NBA basketball game between the Orlando Magic and Sacramento Kings has the odds listed in American format as Magic -545 / Kings +445.
Someone comes long and says “I’ll offer you either Magic -490 or Kings +490, your choice”. Which of these options, if any, has the highest expected value?
The way many sports bettors would approach this is to average out 545 and 445 and figure the fair value is about -495 / +495. Using this failed logic they’d end up taking the Magic -490 as that’s better than the fair price and must be +EV. The problem is neither American nor European odds work this way; they can’t be averaged out to calculate the fair value.
The first step those who understand sports betting math take to solve this problem is the conversion of Magic -545 / Kings +445 to break even percentages.
After plugging the odds into our odds converted I find:
- Magic -545 = 84.50% required break even percentage
- Kings +445 = 18.35% required break even percentage.
- Adding these together you’ll find they total 102.85%. They total more than 100% because juice, which is how the bookmakers profit, is included in the -545/+445 lines. To remove juice we divide each by 102.85%.
- Magic -545 = 84.50%/102.85% = 82.16%
- Kings +445 = 18.35%/102.85% = 17.84%
To check double check our math 82.16 + 17.84% = 100%. We’ve successfully removed the juice and now have each team’s no-vig win probability.
Next go back to our odds converter and plug in the no vig win probabilities into the field titled “required break even %. Doing this we see:
- Magic at 82.16% = -460.5 in American odds format.
- Kings at 17.84% = +460.5 in American odds format.
The offer we were given was Magic -490 or Kings +490 and we calculated the fair prices with no vig are Magic -460.5 and Kings +460.5. The obvious best bet from +EV/-EV standpoint here is Kings +460.5.
The beautiful thing about sports betting, there are dozens of sites each with unique lines on the same game. If you’re able to gauge the consensus line by looking at what the discount bookmakers and exchanges such as Pinnacle, 5Dimes, and Betfair are offering, when you spot a line that is off at a recreational betting site such as Sportsbook.com, Bodog, or Intertops, you’ll have no problem calculating which side if any is a profitable long term bet. The ability to do this alone, combined with bonuses and promotions is enough for the average sports bettor to make some serious extra coin each season. With that said, be sure to bookmark this page so you have quick access to our odds converter as it’s a tool serious sports bettors will want to use often.
Math to Convert Betting Odds
To conclude this article I’ll share the math involved in converting odds and break even percentages. Remember our odds converter can do this math for you at the click of a button.
Converting American odds to European Odds
The formula to convert American moneylines to European decimals odds depends if the moneyline is expressed using a positive or negative number.
Positive Numbers
To convert a positive moneyline to European decimal odds take the moneyline, divide it by 100 and then add 1. The formula is (Moneyline/100) +1. To give an example, the math to convert +358 is (358/100) +1 which calculates to European odds of 4.580.
Negative Numbers
To convert a negative moneyline to European decimal odds take 100 divide it by the moneyline (without using the negative sign) and then add one. The formula is (100/Moneyline) + 1. To give an example, the math to convert -115 is (100/115) +1 which calculates to European odds of 1.870.
Converting European Odds to American Odds
The formula to convert European odds (decimals) to American moneyline format depends if the odds are 2.00+, or 1.999 or less.
Odds $2.00+
To convert European decimal odds 2.00 or greater to an American moneyline the math is: 100*(Decimal odds -1). For example, odds 2.183 use the formula 100*(2.183-1) which calculates to an American moneyline of +118.3.
Odds Under $2.00
To convert European decimal odds less than 2.000 to an American moneyline the math is (-100)/(Decimal odds – 1). For example, odds 1.71 uses the formula -100/(1.71 -1) which calculates to an American moneyline of -140.8.
Calculating Break Even Percentage
When dealing with European decimal odds, calculating how often a bets must win to break even is simple division. The formula is (1/odds=%). To use decimals odds 2.15 as an example, the math is 1/2.15 which equals 0.4651; converted to a percentage this is 46.51%. That’s how often a bet at 2.15 must win to have neutral value and is referred to as its break even rate or implied probability.
When dealing with American odds the formula to calculate a bets required break even rate (implied probability) is risk/return=implied probability, where return is how much a winning ticket would pay. For example at -215 a sports bettor wagers $215 to win $100, a winning bet returns $315 (the $215 stake and $100 win). In this case the math to calculate implied probability is 215/315 which equals 0.6825 and as an implied probability is 68.25%.
Converting Win Probabilities to Fair Odds
In cases where you know a team is going to win a certain percentage of the time and you’re looking to convert this percentage into fair European decimal odds or an American moneyline, this can be done with simple math. First change your percentage to a decimal (example 50.5% is 0.505) then use the formula (1/probability=European Odds). In the case of 50.5% the math is 1/.505 which equals European decimal odds of 1.98. To convert this to American odds go back to our formula (-100)/(Decimal odds – 1) which calculates to a moneyline of -102. As a reminder, in cases where the decimal odds are 2.0 or greater the moneyline will come out a positive number and therefore the conversion formula is 100*(Decimal odds -1) instead of the (-100)/(Decimal odds – 1) used in this example.
Best Online Betting Odds
Now that you understand how to calculate odds, you’ll likely appreciate how impressive the odds offered at www.5dimes.eu are. While no doubt the most popular reduced juice option for American players, 5Dimes also offers soccer, cricket, Euro hockey, Rugby League, Rugby Union, Aussie Rules, volleyball, motor racing, golf, tennis, snooker, water polo and darts at better odds than High Street bookmakers and TAB. To learn more read our 5Dimes Review.
Of course, the best advice we can give you at Online Gambling is to keep learning sports betting math, while using dozens of accounts to shop lines. We hope you enjoyed this article on converting odds, and wish you the best of luck this sports betting season.
Did you know that, according to one UK-based bookmaker, there are 500/1 odds of Kanye West becoming the next US president? Depending on your viewpoint, it’s a brave or foolish bet. But while political betting markets aren’t offered in the US, these odds wouldn’t read as 500/1 in American bookies. They’d instead read as +50000, while it would be presented as 501.00 in Australia. That is to say, there is no single odds format used universally across the world. In this article, you will get to know the difference between American odds, fractional odds, and decimal odds.
Whether you’re trying your luck with seemingly absurd wagers, or gambling on more probable outcomes, you have to understand the odds used so you can always work out the best returns. The three main formats are American, fractional, and decimal odds and, as touched upon, different countries have different preferences. Let’s take a look at each format in turn.
American odds (also known as Moneyline or US odds) display the favorites with a minus sign and a number indicating how much you need to stake to win $100. The odds for the underdogs have a plus sign, showing the amount you’d win for every $100 staked. For example, in this guide to NFL odds, the odds for a game between the Chiefs and Packers are:
Chiefs +3 (-110)
Packers -3 (+110)
Ignoring the -3 and +3 figures, for now, the odds of +110 for the Packers indicates a lower probability of them winning the game. As such, it’s in the bookmaker’s interest to offer longer odds, which are more tempting. You’d win $110 for every $100 gambled on the Packers if they unexpectedly won, which would give you $210 including your original stake. If you bet on the Chiefs instead, you would need to wager $110 to take home $100, which would also win you $210, including your stake. So you’ll have to gamble more to win less on the Chiefs, hence why they are favorites.
The +3 and -3 represent the point spread. This means, to win a bet on the Packers, they would need to win the game by more than three points. To win on the Chiefs, they would need to lose by two points or less (or win the game). The point spread works as an equalizer so that betting on either team offers an almost even chance of winning, despite the clear disparity between the two teams.
Fractional odds are typically used by the UK and Irish bookmakers. These are usually written with a slash or a hyphen — for example, 7/1 or 7-1, pronounced as ‘seven-to-one’. These particular odds would mean that you win $7 for every $1 you wager. According to one soccer bookmaker, the three favorites to win the 2022 World Cup have the following odds:
France: 11/2
Germany: 13/2
Argentina 11/1
With shorter odds than the other two teams, France are the current frontrunners. And while you’d make $11 for every $2 spent on France and $13 for every $2 on Germany, you’d win $11 for each $1 you wagered on Argentina to be champions. So, say you bet $100, you’d make $550 profit on France [$100 x (11/2)], $650 on Germany [$100 x (13/2)], and $1100 on Argentina [$100 x (11/1)].
There are also reverse fractional odds, known as ‘odds-on’ prices. The bottom number of the fraction shows how many times your stake will be divided to calculate your winnings:
$1 stake divided by 2 = $0.50 winnings = odds of 1/2
$5 stake divided by 2 = $2.50 winnings = odds of 1/2
$10 stake divided by 2 = $
See AlsoFinanceWhat Is A Business Credit Report
5 winnings = odds of 1/2
Decimal odds are used by bookmakers in Europe, Australia, New Zealand, and Canada. These are very easy to understand, and instantly allow you to distinguish between the favorites and underdogs. With decimal odds, the number represents what you’d win for every $1 wagered, including your stake. To work out the potential return, simply multiply the stake by the decimal number. For example, one Australian bookmaker offers the following odds on who will win the 2020 US presidential election:
Joe Biden: 2:00
Donald Trump: 2:00
Mike Pence: 34:00
So, if you were to put $100 on either Biden or Trump, your total return would be $200 ($100 x 2.00). As this figure includes the initial stake, your net profit is $100. Whereas, if you wagered $100 on Pence, you’d take home $3400 ($100 x 34.00), with a profit of $3300. From this, it’s obvious that Biden and Trump are clear frontrunners to be the next US president, with Pence’s long odds showing how unlikely his chances of taking office are perceived to be.
It is important to note that American, fractional and decimal odds are simply alternative ways of presenting the same information, meaning you can convert between them easily.
Read Also:
- 5 Ways To Improve Your Business Entrance
- Winning Small Businesses Marketing Strategies
Sign Up to Our Newsletter
Get notified about exclusive offers every week!
I would like to receive news and special offers. TagsFormula To Convert American Odds To Decimal
SBNewsRoomDecimal Odds To American Odds Calculator
Small Business News Room – A platform of business owners, Reporters, entrepreneurs, writers, engaged readers and bloggers to read, write and support stories or ideas and share experiences.