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Step-by-Step Instructions for Converting Odds in 1Xbet Id

Converting odds consists of three main processes in 1Xbet Id.

  • Are the odds decimal, fractional, or American in nature?
  • Calculate the implied probability of the odds.
  • Convert the inferred probability to the odds format of your choice.

A "Decimal Odds" of 3.00, for example, has an implied chance of 33.3%, which can be translated to fractional odds of 2/1.

This article goes over the odds conversion procedure in detail, using step-by-step real-world examples.

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Converting Odds to Probability

In the sports betting scene, you will typically encounter three types of odds.

  • Decimal Odds: represented as 1.65 or 2.95,
  • Fractional odds: represented as 5/2 or 3 to 2 'on',
  • Moneyline odds: represented as -120 or +140,

They all represent the same thing: the return you will earn as a percentage of the amount of money staked. You can use an odds conversion calculator to convert your odds to implied probabilities or an implied probability to odds.

Alternatively, you can do it by hand using the formulas provided below the calculator.

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Converting Decimal Odds to Probability

Decimal Odds are a clear reflection of the return on each single unit placed.

Assume bookmaker bet365 is providing odds of 1.65 for Manchester United to win. This means that if Manchester United wins, you will make a profit of 0.65 for every 1.00 wagered on that outcome.

We use a simple method to translate these odds to their implied probability.

Using a Probability Formula to Convert Decimal Odds:

Implied probability = 1 / Decimal Odds

 

 

Consider the following example: Manchester United has odds of 1.65 to win.

How to Convert Decimal Odds to Probability as an Example

1 / 1.65 = 0.606 = 60.6%

The implied likelihood percentage is 60.6% when multiplied by 100.

With odds of 1.65, Manchester United has a 60.6% chance of winning the game.

Converting Fractional Odds to Probability

Fractional odds are the most common way of representing betting odds. They are simply a representation of the return you will receive for a specific amount bet.

As an example, suppose 1Xbet Id is providing 5/2 odds on a specific horse to win a forthcoming race.

The odds of 5/2 (sometimes known as "5 to 2") indicate that for every 2 units wagered, you will receive 5 back as profit. So, if you staked £200 on that horse, you would have made £500 plus your original stake of £200.

Using the Probability Formula to Convert Fractional Odds:

Implied probability = denominator / (denominator + numerator)

Consider the following scenario: Chelsea is at 5/2 to win a Champions League game.

How to Convert Fractional Odds to Probability as an Example

5 / 2 = 2 / (2 + 5) = 2 / 7 = 0.2857 = 28.57%

The indicated likelihood percentage is 28.57% when multiplied by 100.

Given the odds of 5/2, Chelsea has a 28.57% chance of winning the game.

How Do You Change the Odds?

What are the betting odds? What is implied probability, exactly? How can you convert odds into probabilities? And how can you do a decimal conversion of probability to odds? Understanding betting odds and the options they represent is critical for sports betting success. This course will teach you the basics of betting odds.

The 'How to Convert Odds' video is only available to those over the age of 18. Make sure you're logged into your YouTube account before you begin.