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Betting Odds Conversion Table for Australian Players
Odds are the fulcrum of sports betting, and understanding betting odds is the first step to placing a winning bet. Odds are anš expression of your chances of winning as well as the profit you stand to gain on a successful bet. There are three different odds formats at sportsbooks ā decimal, fractional, and Moneyline (American). However, each one is an expression ošÆf the same implied probability. Fortunately, itās easy to convert from one form to another, thanks to the odds conversion table, which weāll be discussing on this page.
Odds Conversion Chart
The odds conversion table below details some of the most commonź¦ prices in the different formats alongside their implied probability.
| Fractional | American | Decimal | Implied Probability |
| 1/5 | -500 | 1.2 | 83% |
| 2/9 | -455 | 1.22 | 82% |
| 1/4 | -400 | 1.25 | 80% |
| 2/7 | -344 | 1.29 | 78% |
| 3/10 | -333 | 1.3 | 77% |
| 1/3 | -303 | 1.33 | 75% |
| 4/11 | -278 | 1.36 | 74% |
| 2/5 | -250 | 1.4 | 71% |
| 4/9 | -227 | 1.44 | 69% |
| 1/2 | -200 | 1.5 | 67% |
| 8/15 | -189 | 1.53 | 65% |
| 4/7 | -175 | 1.57 | 64% |
| 8/13 | -161 | 1.62 | 62% |
| 4/6 | -149 | 1.67 | 60% |
| 8/11 | -136 | 1.73 | 58% |
| 4/5 | -125 | 1.8 | 56% |
| 5/6 | -120 | 1.83 | 55% |
| 10/11 | -110 | 1.91 | 52% |
| 1/1 | 100 | 2 | 50% |
| 11/10 | 110 | 2.1 | 48% |
| 6/5 | 120 | 2.2 | 45% |
| 5/4 | 125 | 2.25 | 44% |
| 11/8 | 138 | 2.38 | 42% |
| 6/4 | 150 | 2.5 | 40% |
| 13/8 | 163 | 2.63 | 38% |
| 7/4 | 175 | 2.75 | 36% |
| 9/5 | 180 | 2.8 | 36% |
| 15/8 | 186 | 2.86 | 35% |
| 2/1 | 200 | 3 | 33% |
| 85/40 | 212 | 3.12 | 32% |
| 11/5 | 220 | 3.2 | 31% |
| 9/4 | 225 | 3.25 | 31% |
| 12/5 | 240 | 3.4 | 29% |
| 5/2 | 250 | 3.5 | 29% |
| 13/5 | 260 | 3.6 | 28% |
| 11/4 | 275 | 3.75 | 27% |
| 3/1 | 300 | 4 | 25% |
| 10/3 | 333 | 4.33 | 23% |
| 7/2 | 350 | 4.5 | 22% |
| 4/1 | 400 | 5 | 20% |
| 9/2 | 450 | 5.5 | 18% |
| 5/1 | 500 | 6 | 17% |
The Different Odds Formats
To understand the betting odds conversion chart, youāll need to learn how to read the odds in šall available formats:
Fractional ā These are ź¦writteš¦n as a fraction where the numerator represents the profit to be made against the stake, which is the denominator. For instance, 2/1 means that you win Ā£2 for every Ā£1 bet. Higher stakes will be multiplied by the numerator to find the corresponding payout. So, a Ā£10 bet will net you Ā£20. This style is prominent in the UK and Irish betting markets.
Decimal ā ą¦Also known as European odds, these are given as decimals. Your potential profit is your stake multiplied by the odds value. For example, a Ā£10 bet at odds of 1.80 will give Ā£18 in returns (your original Ā£10 stake + Ā£8 profit). Here, smaller odds indicate the team with a higher chanceā of winning.
American ā With American or Moneyline odds, bookmakers, give a whole number with a + or ā sign. The positive (the underdog) indicates the profit on a $100 bet, whiź§le the negative coefficient (the faą¹vourite team) indicates the amount you have to bet to win $100.
For instance
- -150: bet Ā£150 to win Ā£100
- +200: win Ā£200 on a Ā£100 bet
Fractional to Decimal Odds Conversion
Toš· convert fraction odds to decimals, divide the numerator by the dš»enominator and add 1. Using fractional odds of 3/2, we have (3 Ć· 2) + 1 = 2.5
On theš other hand, to convš¬ert decimal odds to fractional, there are two steps:
Firstly, subtract the one
2.5 ā 1 = 1.5
Secondly, divideš„ by one. Note that the fraction must be in its simplest form with the nearest whole number integers.
1.5 Ć· 1 = 1.5/1
To eliminate the decimal, we can multiply by 10 to arrive at 15/10. Broken down to its simplest form,ā we šŖhave 3/2.
You can find the odds conversiā¤on percentage in the fractional decimal odds conversion table.
The Concept of Implied Probability
Regardless ošf the method of stating odds, implied probability reveals your chances of winning a bet based on the given odds. The relationship between betting odds and your chances of winning is a matheāØmatical concept and can be calculated as follows:
- For decimal odds, divide 100 by thļ潚«ļæ½e odds. 100/1.80 gives a probability of 55.5%.
- For fractional odds, divide the denominator by the total of the numerator and denominator, then multiply all by 100. Using 2/1, we hšave (1 Ć· (2+1)) x 100 = 33.3%.
- For American odds (Favourites) ā odds Ć· š(odds + 100). This is calculated without considering the negative coefficient.
- For American odds (Underdog) ā 100 Ć· (odds + 100)
Odds Conversion Calculator
Weāve highlighted the ways to work out odds to probability conversion manually, but you can also use any odds conversion calculator online to achieve this. These calculators will solve for fraction to decimal odds conversion and vice versa. It alš³so solves for American odds conversion. They will also automatically reveal the odds to probability conversion as well as the probability to odds conversion. Simply type the odds in the format youāre given, and other corresponding parameters will be generated.
