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Other Premier League Outrights. Top 4 Finish View all odds; Relegation Treble View all odds; Top 10 Finish View all odds; Winner/Top Goalscorer Double View all odds; To Stay Up View all odds; Top 5 Finish View all odds; To Finish Bottom View all odds; Top 2 Finish View all odds; Top 3 Finish View all odds; Top 6 Finish View all odds; To Finish in Bottom Half View all odds; w/o Big 6 View all odds. 7-2: every 2 units you stake will return 7 units 9-4: every 4 units you stake will return 9 units. Your stake is returned with your winnings, so your payout (ie the money you're given) is A / B x stake + stake eg if you bet £100 on a horse whose odds are 9-4, your overall payout on a winning bet is 9 / 4 x 100 + 100 = £325. Home odds 7.76, tie odds 4.17 - soccer predictions. Upcoming football predictions and previous results: home odds 7.76, tie odds 4.17. Soccer betting tips calculated according to historical statistics and bet365 and 188bet opening betting odds. Check out our football betting tips and take inspiration for your next football bet. The Packers would be 1.714 in decimal odds as a -140 favorite in American odds. For every $1 risked, you’re profiting 71.4 cents, plus your $1 back. The Vikings would be 2.2 in decimal odds as a +120 underdog, meaning for every $1 risked, you’re profiting $1.20 and getting your $1 back.

Calculator Use

Convert stated odds to a decimal value of probability and a percentage value of winning and losing. This calculator will convert 'odds for winning' an event or 'odds against winning' an event into percentage chances of both winning and losing.

Be careful if you are using sports teams odds or betting odds. If you see that the Patriots super bowl odds are 9/2, that is most likely 'odds against' and should be entered in the calculator with 'Odds are: against winning.'

When playing a lottery or other games of chance be sure you understand the odds or probability that is reported by the game organizer. A 1 in 500 chance of winning, or probability of winning, is entered into this calculator as '1 to 500 Odds are for winning'. You may also see odds reported simply as chance of winning as 500:1. This most likely means '500 to 1 Odds are against winning' which is exactly the same as '1 to 500 Odds are for winning.'

Probability Formulas:

This calculator will convert 'odds of winning' for an event into a probability percentage chance of success.

Odds, are given as (chances for success) : (chances against success) or vice versa.

If odds are stated as an A to B chance of winning then the probability of winning is given as P_W = A / (A + B) while the probability of losing is given as P_L = B / (A + B).

For example, you win a game if you pull an ace out of a full deck of 52 cards. Pulling any other card you lose. The chance of winning is 4 out of 52, while the chance against winning is 48 out of 52 (52-4=48). Entering A=4 and B=48 into the calculator as 4:48 odds are for winning you get

For 4 to 48 odds for winning;
Probability of:
Winning = (0.0769) or 7.6923%
Losing = (0.9231) or 92.3077%
'Odds for' winning: 1:12 (reduced from 4:48)
'Odds against' winning: 12:1 (reduced from 48:4)

Further Reading

If you want to come out on top against the bookies it is vital that you understand the fundamentals. When it comes to sports betting there is nothing quite as fundamental as the odds that the bookies offer. Unfortunately, betting odds can prove very confusing. That’s especially true for people who are new to betting.

That’s where this article comes in. We’re going to explain exactly how betting odds work, how they are set and the differences in the ways they are displayed. After taking in all the information below, you will be much better equipped to set about making some profit.

What Do Betting Odds Represent?

At their most basic, betting odds tell you two things:

1. How much you stand to make should the selection win
2. The probability of the selection winning

Take this example. If you were looking through the weekend Premier League fixtures and saw a team had fractional odds of 2/1 (that’s decimal odds of 3.0) you would know that you stand to win £2 in profit from every £1 that you stake should the team win. You’d also know that the bookmaker who set the odds ranks the team’s chances of winning as one in every three times the game is played.

If you saw a team had fractional odds of 8/13, you’d know that for every £13 you stake, you will win £8 or profit and that if the game was played 21 times in total, the bookies think the team would win 13 times and fail to win eight times (what is known as the implied probability).

Working out an implied probability percentage from fractional odds is simple. You just divide the stake by the combined sum of the two numbers which make up the fractional odds. In the case of 2/1 the equation looks like this:

1 / (2+1) = 0.33 or 33%

For odds of 8/13 this is the equation:

13 / (8+13) = 0.62 or 62%

That’s how the maths works but when it comes to the actual odds that bookmakers set, it’s a little more complicated.

How Do Bookmakers Set Their Odds?

The basic business model of a sportsbook is fairly uncomplicated. Bookmakers set the odds and take bets on an event. When that event ends they pay out everyone who backed the winner and then keep the rest for themselves.

But, consider the following horse race.

As you can see, the combined implied probability of the selections above is 100%. From a bookmaker’s perspective that is a big problem. That’s because, presuming they’ve got the same amount of liability on each selection, they’d never make any money as they’d have to collect and payout the same amount.

So, the bookmakers will build something called an overround into their odds. Here’s a real example of a match odds market from a football match:

With an total implied probability of 101.7%, the bookmaker who set those odds is guaranteed to make a profit of 1.7% assuming that they have the same amount of liability on all three selections. Of course, it rarely works out that the bookies manage to spread their liability evenly but you need to know that when you look at a betting market you’re not simply looking at a reflection of how the bookies think the event will pan out. There’s much more going on behind the scenes.

Armed with this knowledge of how the bookmakers set their odds, you can concentrate on finding value. That is, finding a bet where you believe the odds (and therefore the implied probability) is too big. If the bookies think that a side has a 50% chance of winning but you think they’ve got a better chance than that, that’s value.

The Difference Between Decimal and Fractional Odds

You will have seen above that we’ve spoken about both fractional and decimal odds. They are just different ways of conveying the same information but they do add another layer of complexity.

All the major online bookmakers will shows their odds as both fractions and decimals so it’s important that you understand just what they are showing and how to switch between the two. Thankfully, it only requires simple maths.

To go from a fraction to a decimal is as easy as dividing out the fraction and adding one. Here’s how that looks for odds of 2/1:

(2/1) + 1 = 3.o

And using our second example from above, 8/13, it looks like this:

(8/13) + 1 = 1.62

If you want to go from decimal odds to fractional odds is similarly simple. You just minus one from the decimal odds, turn that number into a fraction and reduce it down to it’s simplest form.

Let’s take decimal odds of 4.5, this is the equation:

4.5 – 1 = 3.5
35/10 -> 7/2

If the decimal price is 1.25, you convert it into fractional odds like this:

1.25 – 1 = 0.25
25/100 -> 1/4

Here’s a list of some of the most common fractional odds and their decimal equivalents (for a more in-depth list click here).

Key Terminology

When reading betting advice or searching for a value bet on the bookies’ websites you’ll come across some key terms relating to betting odds. To round up our article on betting odds, we’ve covered the most widely used terms to ensure you don’t get confused in your search for winners.

Stake – The amount of money that you place (or wager) on a specific bet.

Price – The price of a bet is simply another way of referring to the odds. You can either say that a football team can be backed at odds of 2/1or that their price is 2/1.

50 1 Odds Payout

Odds On & Odds Against – Two of the key terms that you’ll hear when it comes to betting odds are ‘odds on’ and ‘odds against’. These terms refer to whether a price is greater or lower than evens. Any price above evens is known as odds against, while anything below evens is odds on.

7/4 Odds Payout

Short and Long Odds – If something is described as being short odds it means the price is low. A long odds shot will provide you with a bigger win but is much less likely to win.