What are betting odds?
There are several types of betting odds that are used in various forms of gambling, each of which represents the likelihood of an event occurring and the payout that will be received if a bet is successful. Some of the most common types of betting odds are explained in their own glossary terms.
How do you convert between different types of odds?
Converting between different types of odds can be done using simple mathematical formulas. Here are the formulas for converting between some of the most common types of odds:
Decimal odds to fractional odds:
Divide 1 by the decimal odds to get the fractional odds.
For example, to convert 2.00 decimal odds to fractional odds, divide 1 by 2.00 to get 1/1 or evens.
Decimal odds to moneyline odds:
To convert decimal odds to moneyline odds, subtract 1 from the decimal odds for odds greater than 2.00, and divide 100 by the decimal odds minus 1 for odds less than 2.00.
For example, to convert 2.00 decimal odds to moneyline odds, subtract 1 to get 1.00, and divide 100 by 1 to get -100 (or a negative moneyline).
To convert 1.50 decimal odds to moneyline odds, divide 100 by 1.50 – 1 to get +66.67.
Fractional odds to decimal odds:
Divide the numerator (top part of the fraction) by the denominator (bottom part of the fraction) and add 1.
For example, to convert 3/2 fractional odds to decimal odds, divide 3 by 2 to get 1.5, then add 1 to get 2.50.
Fractional odds to moneyline odds:
To convert fractional odds to moneyline odds, divide 100 by the denominator, then multiply by the numerator and subtract the result from 100.
For example, to convert 3/2 fractional odds to moneyline odds, divide 100 by 2 to get 50, then multiply by 3 to get 150, then subtract 150 from 100 to get -50 (or a negative moneyline).
Moneyline odds to decimal odds:
For positive moneyline odds, divide the moneyline by 100 and add 1.
For negative moneyline odds, divide 100 by the absolute value of the moneyline and add 1.
For example, to convert +150 moneyline odds to decimal odds, divide 150 by 100 to get 1.5, then add 1 to get 2.50.
To convert -150 moneyline odds to decimal odds, divide 100 by 150 to get 0.67, then add 1 to get 1.67.
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