That means that for every price you can find in Fractional Odds or Decimal Odds or American Odds, you can find the same price in the other two formats. Sometimes, these types of odds are also referred to as moneyline odds but they are more commonly known as American Odds. However, odds of 3/1, mean that there is only a 25% chance of that event occurring. For example, in a football match, when it comes to the Full Time Result market, only three outcomes are possible. When odds are calculated, the bookmaker is assessing how probable it one of the events is likely to happen.

Bookmaker Bonuses

For converting moneyline to decimal, when the moneyline price is positive divide it by 100 and add 1. Also, to note, sometimes you will hear prices or odds in North America referred to as ‘lines’. As you might guess from the name this format is most popular in North America. When you see prices such as 9/2, 6/5 or 2/7 it can take a bit longer to understand your returns compared to odds that are ‘to one’ (e.g., x/1).

• If your own research suggests a higher probability, you might have found a good betting opportunity.
• The odds are set based on the implied probability of the outcome, such as a horse winning a race, or a football player scoring a goal.
• To convert Decimal odds to Fractional, just subtract 1 and make it a fraction.
• These odds are displayed as 1/2, 1/1 (evens), 2/1, 100/1 and so on.
• Implied probability gives you an idea of what the bookies think the likelihood of an outcome is.

To sum it up, you’ve learned the essentials of rugby betting odds. Now that you know how to read different odds formats, you’re ready to grasp the concept of implied probability. The most common ones are the match-winner, handicap betting, and over/under bets. Every set of odds reflects an implied probability – in other words, what the bookmaker thinks are the chances of that outcome happening. You won’t win every time, but with good research, patience, and discipline, these bets can be highly profitable. Over time, consistently spotting these discrepancies can lead to profit, even if you lose more bets than you win.

We will cover implied probability at the bottom of this page. These are referred to as fractional, decimal and moneyline, with the latter often being called American (and a lot rarer in the UK). When it comes to odds or prices offered by bookmakers there are three distinct ways in which those odds can be displayed. It is proposed that the cumulative probability is used in the place of percentiles for DAE data. However, the cumulative probabilities provide a reliable estimate of probability (similar to percentiles) of the population rather than the sample data. Often, the Percentile format is used but it should be remembered that the percentiles are based only on the sample data.

Calculation

The best betting sites allow you to change how the odds are displayed on their betting website and app, putting you in complete control. Betting on a 5/2 shot is the same as betting on a 2.5/1, meaning you get 2.5x your stake. You’ll also see plenty of bets with less clean-cut odds, such as 5/2. When landing a sportsbook winner, it’s important to remember you also get your stake back. With odds-on, you’ll win the smaller value when you bet the higher. With a bet at 1/2, every £2 bet wins you £1 or £20 bet earns a £10 profit.

Positive or negative blood

They are simple to use and are useful to bettors regardless of their level of experience. Let’s say that you wanted to bet on a Champions League soccer match between Inter Milan and Paris Saint Germain. So, you can take advantage of great odds whichever bookmaker is offering them. Paying with Skrill is a great option, as it odds to percentage is accepted at hundreds of bookmakers. If the resulting value is greater than 0, it is considered a value bet. To calculate the odds, the formula is Denominator / (Denominator + Numerator).

Decimal odds allow you to calculate how much money you will be returned should your bet win. Whenever you see two numbers separated by a slash, i.e. 10/1, this is a fractional betting odd. Let’s take a look at some other examples and situations of converting decimal odds. With these odds, for every £1 you bet, you’ll get a total return of £1.50 if you win.