By convention only a set of fractions are used in fractional odds betting markets. The set does not include exact mathematical equivalents to all possible decimal and American odds. We use the closet fraction that is used in betting markets.
The Kansas City Chiefs lost to the Tampa Bay Buccaneers in Super Bowl 55. However, the Chiefs remain the favorites to win Super Bowl 56 at SoFi Stadium in Inglewood, California. The Chiefs are listed at 6/1 odds (Bet $100 to win $600), while the defending champion Buccaneers are. The gambler may also express odds of 3to2 as a chance of 3in5, that is, 3 chances to win in 5 total chances. Whether given as odds of 3to2 or chance of 3in5 the statistical probability is.6 (3/5 =.6) and the statistical odds are 1.5 (odds =.6/(1.6) =.6/.4 = 1.5). The table below gives the Las Vegas (gambling) odds, chance, statistical odds.
Convert betting odds to probability. Now we want to see what those odds mean in terms of probability. There is another simple formula that takes the numbers in a fractional odds presentation, adds them together and then divides that total by the second number to give a probability factor. So for Barcelona at 4/6 that is 4+6=10 and then 10 divided by 6 = 1.6 then multiply that by 100 = 60%. Betting Odds Converter. The betting odds calculator tool allows you to enter your odds in American, Decimal, or Fractional formats & translate them into the format you want. Heart bingo box bonanza. Online & Mobile, UK&IRE Only. Claim between 18:00 05/03/21 - 23:59 07/03/21. One £1 Free Bet per person. Stake not returned, cashout excluded.
For example, the exact mathematical equivalent of decimal odds 30 is fractional odds 29/1. However 29/1 is not used in betting markets, instead 30/1 is used, so that is what appears in this converter.
For an explanation of the odds types on this table see decimal, fractional and American odds. To find out what the numbers really represent see understand odds as probability with overround.