Bookmakers can evaluate odds provided by their data suppliers and better cater for the needs of their players, while players can clearly interpret the outcome of their bet.Īt first glance, the table of events may appear complicated and the odds unclear, but that is a misconception. Understanding how betting odds are calculated is essential for both players and operators. Multiple your end result (0.4761904) by 100 to get the percentage: 47.6%.Betting on sports is inalienable from knowing how to read sports odds. If the decimal betting odds are 2.10, the equation would look like this: How to convert decimal betting oddsĭecimal odds are the easiest to convert into a percentage.įor decimal betting odds, the formula is: 1 / decimal odds Multiply your end result (0.4761904) by 100 to get the percentage: 47.6%. If the fraction betting odds are 11/10, the formula would look like this: Multiply your end result (0.565) by 100 to get the percentage: 56.5% How to convert fraction betting oddsįraction betting odds are easier to convert into an implied winning percentage.įor fraction betting odds, the formula is: Denominator / (Denominator + Numerator) If the moneyline is -130, the equation would look like this: Multiply your end result (0.476) by 100 to get the percentage: 47.6%įor ‘minus’ moneylines, the formula is: Moneyline / -(100 – (Moneyline)) If the moneyline is +110, the formula would look like this: Moneylines can come in ‘plus’ (favourites) and ‘minus’ (underdogs) formats, so there are two different formulas to convert moneylines into percentages.įor ‘plus’ moneylines, the formula is: 100 / (Moneyline + 100) 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.īelow are the formulas to convert moneyline betting odds to percentages, convert fraction betting odds to percentages, and convert decimal betting odds to percentages. 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. (Photo credit: DonkeyHotey / Foter / CC BY)īeing able to convert betting odds into percentages is a major part of knowing how to read odds.īy 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.

Sorry, but there's a bit of math involved when it comes to calculating sports betting value.

How to calculate odds sports betting