calculate probability given odds sports betting

The final thing you have to work out when calculating sports betting odds is American odds. To convert from fraction/ratio odds to decimal just divide the first number by the second and add 1. 9/2 in decimal odds is 5.50, so in the example above £10 x 5.50 gives £55. To calculate your winnings with decimal odds you just multiply your stake by the odds. Decimal odds less than 2.00 are 'odds on'. This is the equivalent to the fraction/ratio odds value of 'evens' – which means a bookmaker thinks there's an exact 50:50 chance of the competitor being the winner. The important number when dealing with calculating sports betting odds using decimals is 2.00. Decimalĭecimals are becoming increasing popular with sports-betting sites, particularly with younger punters, as they are easier to calculate. For example if you back at horse at at £10 at 9/2 and it wins, you get back (10 x 9 = 90 ÷ 2 = 45 + 10 =) £55. If you back a winner, to work out your winnings, just multiply your stake by the first number in the ration, divide it by the season, then add on your original stake. If the number on the right hand side of the dividing line is larger than the number on the left, then the competitor or team is said to be 'odds-on', which means that are much more fancied to be the winner in their event, than the loser.

You can work out how 'fancied' a competitor or team is by dividing the first number in the ratio by the second – the smaller the result, the more fancied the competitor or team.

They are in the form of a ratio, or fraction, such as 6/1, 9/2 or 5/4. This is the traditional way of representing odds.

Calculate probability given odds sports betting