The odds converter is a way of converting odds between different formats such as US and EU, decimal, fractional and percentages.
The odds converter inputs and outputs include:The odds converter inputs and outputs include:
Using this converter:
The odds conversion will convert values between decimal, fractional, Indonesian, Malay, US and Hong Kong formats and their implied probability. The user only needs to enter a value for one and the converter will automatically calculate and show the others.
There are three main formats in which odds are shown on online sports books:.
- The first is the US style, which is also known as ‘moneyline’.
- The European style which is also known as a decimal format and may be referred to as ‘Continental’.
- The traditional style is also known as the British style.
The Asian sports books will use the formats referred to as Hong Kong, Indonesian and Malay.
The odds in US style can be given as either a positive or negative number. If it is a negative number then the odds are shown as the amount the user would need to bet in order to win $100. So odds which show -200 show that a gambler would need to risk $200 in order to win $100. This looks odd but the user would also get back their original stake, so the total would be $300. If a positive number is shown then the figure is the amount that could be won if the player wagered $100. US odds which show +200 indicate that the user would need to bet $100 and would win $200 (as well as receiving back the original stake). US odds will show even odds bets at +100.
Decimal odds are shown as a number which is higher than 1 and is often shown to at least 2 decimal places. This is the number of dollars that the user would get back and includes the original stake. For example, decimal odds shown as 1.5000 shows that if a $1 bet is placed, the gambler would get back $1.50. This is the original bet of $1 and winnings of $0.50. Decimal odds which show 3.0000 indicate that the bettor would get back $3 on a $1 bet. These two decimal odds are the same as -200 and +200 respectively. Even odds bets in the decimal system are shown as 2.0000.
Fractional odds (usually seen in the UK and Ireland) are shown as a fraction. If the odds are given as 1/2 then this shows that for every 2 units wagered, 1 is paid out if the bet wins. Odds of 2/1 show that 2 units are paid out for every 1 unit that is wagered. These odds are the same as -200 and +200 respectively. A fractional even odds bet would be shown as 1/1.
Even odds bets are often also referred to as ‘Evens’, ‘Even’ or ‘Ev’.
It should be noted that the win probability is associated with any odd quotation. This shows the probability that the event needs to justify the odds. If the actual probability is greater than the implied probability then the bet is a good one, but if it is lower then it is not. If it is the same then the bet is an even one.