This free Odds Converter helps you to change simply and easily between the different formats of odds. Odds Converter to convert decimal, fractional and percentage odds.
Some useful information on the use of our Odds Converter
1. What does this Odds Converter do, and why is it useful?
This Odds Converter helps you to convert the odds provided by oddsmakers for online sports betting platforms into different formats.
2. What do odds mean?
Generally speaking, odds provide the likelihood of a particular outcome. Odds are mostly used in statistics and of course in gambling and in betting on sports events. See below: formats of odds.
3. Which formats are used by the Odds Converter?
The Odds Converter is able to convert odds by using the odds formats listed below.
- Decimal or European odds (odds are represented by a decimal number): Favoured in continental Europe, Australia, New Zealand, Canada, and Singapore, decimal odds quote the ratio of the payout amount, including the original stake, to the stake itself. Therefore, the decimal odds of an outcome are equivalent to the decimal value of the fractional odds plus one. Thus even odds 1/1 are quoted in decimal odds as 2.00. The 4/1 fractional odds discussed above are quoted as 5.00, while the 1/4 odds are quoted as 1.25. This is considered to be ideal for parlay betting because the odds to be paid out are simply the product of the odds for each outcome wagered on.
- American or Moneyline odds (they basically indicate the profit on a wager of 100 units): Moneyline odds are favored by American bookmakers. The figure quoted is either positive or negative. When Moneyline odds are positive, the figure indicates how much money will be won on a $100 wager (this is done for an outcome that is considered less likely to happen than not). For example, a net payout of 4/1 would be quoted as +400. When Moneyline odds are negative, the figure indicates how much money must be wagered to win $100 (this is done for an outcome that is considered more likely to happen than not). For example, a net payout of 1/4 would be quoted as -400.
- Fractional or British odds (expressed as a ratio of two integers): Used mainly bookmakers in the United Kingdom and Ireland, fractional odds quote the net total that will be paid out to the bettor, should he or she win, relative to the stake. For example, odds of 4/1 would imply that the bettor stands to make a £400 profit on a £100 stake. If the odds are 1/4, the bettor will make £25 on a £100 stake. In either case, having won, the bettor always receives the original stake back; so if the odds are 4/1 the bettor receives a total of £500 (£400 plus the original £100). Odds of 1/1 are known as evens or even money.
- Percentage odds (they basically mean the likelihood expressed in %)
4. How does the Odds Converter work?
The working principle of the Odds Converter is very simple. Use the value of the odds in a format you know, and enter it into the appropriate field. The Odds Converter converts this value into all the other odds formats within a second.