Betting Odds To Percentage
Sorry, but there's a bit of math involved when it comes to calculating sports betting value.(Photo credit: DonkeyHotey / Foter / CC BY)
- Converting Betting Odds To Percentages
- Convert Betting Odds To Percentage
- Betting Lines Percentage
- Betting Odds To Percentage
To calculate winnings on fractional odds, multiply your bet by the top number (numerator), then divide the result by the bottom (denominator). So a $10 bet at 5/2 odds is (10. 5) / 2, which equals $25. The following feature monitors wagering activity at many of the largest online sportsbooks. These 'betting percentages' represent actual wagers placed on each game at the participating sportsbooks. For example, a $100 bet at -200 in American odds (1/2 in fractional or 1.50 in decimal) with a 66.67 percent implied probability has the potential to profit $50 should it win (not total return.
Being able to convert betting odds into percentages is a major part of knowing how to read odds.
By knowing the percentage of the time you need to win a bet to break even, you can decide whether it is a smart bet to make. If you believe something has an 80% chance of occurring but the odds suggest it has a 50% chance of occurring, you have a positive expectation wager. If you believe something has an 80% chance of occurring but the odds suggest it has an 85% chance of occurring, it’s a bad bet to make because you have no edge.
Converting Betting Odds To Percentages
Below are the formulas to convert moneyline betting odds to percentages, convert fraction betting odds to percentages, and convert decimal betting odds to percentages.
How to convert moneyline betting odds
Moneylines can come in ‘plus’ (favourites) and ‘minus’ (underdogs) formats, so there are two different formulas to convert moneylines into percentages.
For ‘plus’ moneylines, the formula is: 100 / (Moneyline + 100)
If the moneyline is +110, the formula would look like this:
100 / (110+100) = 100/210 = 0.476
Multiply your end result (0.476) by 100 to get the percentage: 47.6%
Convert Betting Odds To Percentage
For ‘minus’ moneylines, the formula is: Moneyline / -(100 – (Moneyline))
If the moneyline is -130, the equation would look like this:
-130/ – (-130 -(-100)) = -130 / -230 = 130/230 = 0.565
Multiply your end result (0.565) by 100 to get the percentage: 56.5%
How to convert fraction betting odds
Fraction betting odds are easier to convert into an implied winning percentage.
For fraction betting odds, the formula is: Denominator / (Denominator + Numerator)
If the fraction betting odds are 11/10, the formula would look like this:
10 / (11+10) = 10 / 21 = 0.4761904
Multiply your end result (0.4761904) by 100 to get the percentage: 47.6%.
How to convert decimal betting odds
Betting Lines Percentage
Decimal odds are the easiest to convert into a percentage.
For decimal betting odds, the formula is: 1 / decimal odds
If the decimal betting odds are 2.10, the equation would look like this:
1 / 2.10 = 0.4761904
Betting Odds To Percentage
Multiple your end result (0.4761904) by 100 to get the percentage: 47.6%.