Understanding odds is the biggest challenge that anyone new to betting faces. What are the odds on x? What do they mean? What will I win if I bet x amount? Learn more about implied probability.There is a conversation that all seasoned bettors will have had numerous times with friends and relatives who want a casual bet on a major sporting event. It is typically expressed as a percentage. As with all measures of probability, the implied probability always falls in the range 0 <= implied probability <= 1.

Implied probability is the probability of an outcome occurring as implied by the bookmaker odds. Note that both 1 and -1 are equivalent to decimal odds of 2.00.įor decimal odds between 1.00 and 2.00: Malay = decimal – 1įor decimal odds above 2.00: Malay = -1 / (decimal – 1)įor Malay odds between 0 and 1: decimal = Malay + 1įor Malay odds between -1 and 0: decimal = (-1 / Malay) + 1 Malay odds fall between -1 and 1, but cannot equal zero. When negative, Malay odds represent the number of units needed to be wagered in order to win 1 unit. When positive, Malay odds express the net return from a winning 1 unit bet. 3.00 in decimal odds equals +200 in American odds)įor American odds >= +100: decimal = (American / 100) + 1įor American odds = 1: decimal = Indonesian + 1įor Indonesian odds <= -1: decimal = (-1 / Indonesian) + 1 Note that +100 and -100 are both equivalent to decimal odds of 2.00.įor decimal odds between 1.00 and 2.00: American = -100 / (decimal – 1)įor decimal odds above 2.00: American = (decimal – 1) * 100 (often expressed with a + in front, e.g. When positive, American odds express the number of units that can be won from a 100 units wager. When negative, the American odds indicate the number of units that would need to be successfully wagered to win 100 units. 1.50)įractional to Decimal: Fractional = decimal – 1 (expressed as a fraction, e.g. A winning $10 bet at 1/2 fractional odds would return $15.00 for a $5.00 profit (50% return).ĭecimal to Fractional: Decimal = fractional + 1 (expressed as a decimal number, e.g. A winning $10 bet at 1.50 decimal odds would return $15.00 for a $5.00 profit (50% return).įractional odds express the net return (in fractional form) from a winning 1 unit bet. Live American Football Scores & Resultsĭecimal odds represent the total return from a winning 1 unit bet.Historical Twenty20 Big Bash Results and Odds Data.Historical Super Rugby Results and Odds Data.Historical A-League Results and Odds Data.Bookmaker Ownership Structure in Australia.Staking Plans that Adjust for Bookmaker Odds and Bet Ratings.Maximising Expected Return to Risk Ratio.Implied Probability and Expected Return.

Calculating odds sports betting