Odds Converter
The odds converter is a tool that gives you the chance to make great conversions into fractional and decimal odds.
Also, it show some of the probability that are implied.
Types of Odds
Now let us look at the differences in the varieties of odds.
Fractional
These can be considered as the most common converter talking about the betting sites in Australia. Having the fractional odds, the numerator is going to tell you the amount that you can win when you place a bet that equalizes the denominator’s value. The net profit can be seen on the numerator. Having a $10 bet with the odds that ratioed 2/1 can give you a chance to enjoy $20.
Decimal
The decimal odds is now serving as a competitor for the fractional odds, and it has become the major format in the whole of Europe, Canada and Australia. So that you can be able to calculate your winnings, your stake can be multiplied.
All of your total returns can be reflected by the decimal odds, the total return can now be regarded as the summation of your original stake and profit that you have made. When you place a $10 bet on a odd of 2.5, the amount that you are going to get back is $25. It will be $15, and your initial stake is $10.
American
Just like the name goes, the odds are being used on the sportsbook in the United States. The American odds is going to tell you the amount of winning that you will make when a $100 wager is placed.The net profit is reflected by the American odds.
Mathematics behind the Converter
The odds format is going to determine the odds conversion and calculation. There is no need to make use of any calculator. Having said this, if you are interested in knowing how the conversion works, now let’s look at the mathematics.
Fractional and Decimal
When you want to combine the fractional odds to the decimal odds, there is a need for you to turn the fraction into a decimal form. All that you need to do is to divide the numerator by the denominator. 1/5 = 0.2 0.2 + 1
For you to get the decimal odds converted into a frictional odds, there is a need for you to make a reverse. This is an indication that you will have to position the decimal as numerator and the 1 will now be a denominator.
An example is 1.4 – 1 = 0.4, (0.4/1) = 4/10
The fractions can be simplified by dividing the numbers by the denominators.
Fractional and American
There are differences in the calculations that you can make and it depends on when you are converting the odds as an underdog or favorite. Having said this, there will always be a need for you.
When you have an odd that is more than 1/1, the fraction can then be multiplied by 100. For you to convert the odds, there is a need for you to go with the calculations made.
3/2 = 1.5
1.5 x 100 = +160
For people that are willing to convert those odds on favorite, there will be a need for you to get the fractions converted, and then convert the fractions to a decimal. Now let’s look at the calculation 2/3 = 0.67, the other is -100/0.67 = -150.
To convert the American odds to a fractional odds, there is a need for you to get a reversed calculation.
Decimal and American
To make this calculation, you will have to figure out if you will be converting on a favorite or an underdog. To sort the decimal odds of 2.00 or greater, you can just deduct a single one and get it multiplied by 100.
3 – 1 = 2, 2 x 100 = +200
Implied Probability
Most of the betting sites do not display the probabilities of your bet, and this is very useful when the player have the full understanding of what they are engaging themselves in.
Calculations to get the converting odds include ( Deno/ (deno + numerator)) x 100 + Implied probability
To get the decimal odds (1/decimal odds) x 100 + implied probability
Lastly, this is what you will have to do to work out the implied
(Negative odds/ (negative odds + 100)) x 100 + implied probability
(100/(positive odds + 100)) x 100 + implied probability.