Home Back

Betting Odds Calculator

Probability from Odds Formula:

\[ P = \frac{1}{Odds} \times 100\% \]

decimal

Unit Converter ▲

Unit Converter ▼

From: To:

1. What is Probability from Odds?

The probability derived from betting odds represents the implied probability that a particular outcome will occur, as suggested by the odds. It's a crucial concept in sports betting and statistical analysis.

2. How Does the Calculator Work?

The calculator uses the simple formula:

\[ P = \frac{1}{Odds} \times 100\% \]

Where:

Explanation: The formula converts decimal odds to their implied probability percentage. For example, odds of 2.00 imply a 50% probability.

3. Importance of Probability Calculation

Details: Understanding implied probability helps bettors assess value in betting markets and make more informed decisions about potential wagers.

4. Using the Calculator

Tips: Enter decimal odds (must be 1.01 or greater). The calculator will instantly show the implied probability as a percentage.

5. Frequently Asked Questions (FAQ)

Q1: Why can't odds be less than 1.00?
A: Decimal odds below 1.00 would imply a probability over 100%, which is mathematically impossible for a single event.

Q2: How do fractional odds compare?
A: First convert fractional odds to decimal (e.g., 5/1 = 6.00 in decimal) before using this calculator.

Q3: What does 100% probability mean?
A: This would be a "sure thing" with odds of exactly 1.00, which never occurs in real betting markets.

Q4: Why do bookmakers' probabilities add to more than 100%?
A: The excess (overround) represents the bookmaker's margin or vigorish.

Q5: How accurate are these probabilities?
A: They represent the bookmaker's assessment including their margin, not necessarily true probabilities.

Betting Odds Calculator© - All Rights Reserved 2025