How to Convert Odds: Learn All Betting Secrets at Once

As you may have already noticed, different bookmakers offer different betting odds. This can be intimidating, especially if you are a beginner and do not understand how to convert odds and how bets work. Today’s article is going to be useful for people who do not understand betting odds and want to improve their knowledge.

Join Parimatch Now!

Before we start, we want to tell you about our Parimatch betting website which allows you to use a betting odds converter between the types of bets and choose the most comfortable option. After registration, you will be able to bet on a huge variety of markets using decimal odds.

If you want to disassemble every topic in detail, we are always happy to help you. Take a look at the list of the most popular articles for beginners below:

Moreover, you can always find real confirmation of what we are talking about in the article. How to become the odds converter yourself? Let's dive into the world of betting odds!

How to Convert Odds

At Parimatch, we only offer decimal odds, as they are the most convenient and easy to understand. However, many other bookmakers use complex betting systems such as fractional or American odds (also called moneyline odds) and you should be ready to learn how to convert odds to decimal.

All types of bets such as decimal, fractional, and moneyline odds help gamblers determine the odds of winning, the number of possible winnings, and also the profit. Even a beginner can figure out how decimal bets affect the amount of the win, but this is much more difficult if you use different kinds of odds.

Fortunately, a team of our advanced experts has collected useful information to help you convert American odds to decimal, fractional to decimal, or vice versa. You also will learn how to convert betting odds to probability, and you will be able to use knowledge for good.

There are three-step instructions for converting betting odds that you should know:

Different types of betting coefficients: fractional, decimal, American, Hong Kong, Indonesian, and Malaysian. We have to pay the closest attention to 3 main of them – fractional, decimal, and American.
How to convert decimal odds to implied probability (or other types of betting odds);
How to convert percentage to odds.

Parimatch Betting Odds

How to Convert Fraction Odds to Decimal Odds

Many British online bookmakers use fractional odds on sports events. So, let’s take a deeper look at how to convert fractional odds to decimal.

Decimal odds converter works very easily. You should convert fractional odds to decimal odds as they are much easier to understand. Also, you can convert decimal odds to fractional odds and compare them with the betting odds of other bookmakers.

We can say with confidence that at Parimatch we offer the best odds on Parimatch in Nigeria, and you can convert fraction odds to decimal, as well as a decimal to fractional, and compare them with other bookmakers.

In order to convert fractional odds to decimal, you first need to make sure that you are using fractional odds on the site. There is nothing difficult in determining the type of coefficient. Fractions are fractions and look like "2/1", "6/5", or "9/7". Fractional odds represent the presence of a forward slash between digits. In reality, it sounds like "two to one".

How to Convert Fractional Odds to Implied Probability

Determining the probability is the next important step in moving from fractional to decimal odds. It is not difficult to convert odds ratio to percentage. Understanding the implied probability of the desired outcome will help you place the correct bet and determine your chances of winning. Moreover, it is a much more convenient option.

Before converting betting odds to probability, let's look at what a fraction is. The first number before the forward slash is the numerator, the second is the denominator.

In order to understand the probability, you need to:

Add denominator to numerator;
Divide the denominator by the resulting number;
Multiply the number by 100 to get the percentage probability.

For instance, if the odd is 6/3:

6+3 = 9
3/9 = 0,333
0,333 * 100 = 33,3%

As you can see, the odd 6/3 had an implied probability of 33,3%.

How to Convert Implied Probability to Decimal Odds

For example, you have an implied probability of 6/3 odd, and you want to convert it into decimal odds. This way, it will be easier for you to compare bets with other decimal odds on Parimatch to know your chances of winning.

We can take the above example into account. A 6/3 fractional bet means you have a 33,3% chance. In order to translate this into decimal odds, you need to repeat what we talked about above.

In order to find the probability from decimal odds, we must divide 100 by the decimal odds. Therefore, in order to go from probability to decimal fractions, you must simply divide 100 by the assumed probability. The opposite is true, as you can see.

Taking the above decimal odds converter example into account, 6/3 odds gives an implied probability of 33,3%. If we divide 100 by 33,3, we get the number 3, our decimal odds.

How to Convert Fractional Odds to Profit

If you want to know how much money you make per unit bet, you can try a betting odds converter from fractional odds to profit. For example, 2/1 means you will get double your stake. You can bet 100 NGN and, as a result, get 200 NGN.

If the odds are 6/2 and you bet 1,000 NGN, this means that for every 2 units of your bet, you will receive 6 units of profit + your initial bet – 1,000 NGN.

If you want to calculate your profit, you just need to take a simple step – divide your bet by the denominator, in our case, it is 2. So, if you bet 1,000 NGN, and the odds are 6/2, divide the bet by the denominator, and you will get 500. Then you need to multiply the resulting number by the numerator 6, and you will get 3000 NGN. This is your profit. In addition, you will receive your initial 1000 NGN rate.

Let's check this with an example of decimal calculation. As we said above, the 6/3 odds are equal to the decimal number 3,03. You need to multiply your 1,000 NGN bet by 3,03, you get 3,030 NGN. Not considering your initial bet, you will receive 2,030 NGN of profit.

Make Your Predictions!

How to Convert Decimal Odds to Fractional Odds

This is not the only way to convert odds. The second way to convert the coefficients into another form is a little more complicated than the previous one and does not require the use of a calculator.

Let's first calculate the decimal odds. We will use the number 2.50 to help you understand us better. We need to get an integer in order to calculate the fractional coefficients. Keep adding decimal odds until they create an integer. In our case, 2.50 is not an integer.

The number of times we have added a number to create an integer is the denominator:

2.50 + 2.50 = 5.00

This means that we added the number twice, and our denominator is 2.

In order to find the numerator, you need to subtract the denominator from the number.

5.00 - 2.00 = 3.00

We have already said above that the first number is the numerator, and the second is the denominator. Therefore, our ratio looks like this – 3/2.

We will give an example of a real match to show the way in practice. Consider England vs. Iceland match.

Example of odds

As you can see, 5.20 is the decimal that Iceland wins. In order to find an integer, you need to multiply the number 5 times:

5.20 x 5 = 26.00

Let's subtract the number 5 since we have multiplied our number so many times.

26.00 - 5 = 21.00

Thus, our fractional odd is 21/5.

You will receive 21 units for every 5 units you bet. This means that if you bet 10,000 NGN, you will receive 42,000 NGN + your initial bet.

If you are in doubt about the correctness of the calculation, do the opposite. Add 42,000 to 10,000 and you get 52,000 NGN. Divide the resulting number by the original bet and get 5.20 – this is our odds.

How to Convert American Odds to Decimal Odds

American odds are the most popular option in the United States. They are also referred to as "moneyline odds" on many of the popular sites you may come across.

Check if you are really working with American odds and use an American odds converter to decimal and easily compare odds on Parimatch and other bookmakers.

Moneyline odds are not easy to understand. First, you need to understand how they look. They are +100, -200, and so on. Let's see what + and - mean.

The plus sign indicates how much money you need to bet to win by betting 100 NGN. For example, +200 means you can win 200 NGN for every 100 units wagered.

The minus sign indicates how much money you need to pay to win 100 NGN. For example, -200 means that you can only make a profit of 100 NGN if you bet 200.

An incomprehensible system is very annoying for betters, and many people switch from American odds to decimal ones. This is very easy to do and allows American coefficients to convert odds to decimal easily.

How to Convert Negative American Odds to Decimal Odds

American odds converter allows people to easily switch to the more comfortable option – decimal odds. Negative odds mean numbers with a - sign. If you want to define decimal odds, you need to learn the process of calculation from American odds to them.

Let’s use an odds converter calculator. To do this, divide 100 by the American odds and add 1:

(100 / 200) + 1 = 1.5

As you can see, it is very simple. Try the easiest options right away!

Bet with Parimatch!

How to Convert Positive American Odds to Decimal Odds

Converting American bets to decimal odds is easy and takes only a few steps. In this case, you need to divide the American odds by 100 and add 1:

(200 / 100) + 1 = 3

How to Convert American Odds to Implied Probability

In order to know your chances of winning with American bets, you need to determine the probability of a positive outcome. You can convert American bets to decimal and calculate the odds that way, or you can take fewer steps and use an odds converter calculator from American odds.

Be careful because odds are calculated differently for positive and negative odds.

How to Convert Negative American Odds to Implied Probability

Below you will find the formula for calculating the probability from negative American odds.

Let's say we have an American rate of -200. First, remove the minus sign, then add 100 to the American odds. That's 300. Then divide the first American bet by 300. And, of course, multiply the number by 100 to get the percentage probability.

There are American odds to probability formula:

[Initial Negative American Rate - Negative American Rate + 100] x 100%.

Now, using the example of the coefficient -200:

[200 / (200 + 100)] x 100% = 66.6%

How to Convert Positive American Odds to Implied Probability

Below you will find the odds converter formula for calculating the probability from positive American odds.

Remove the plus sign and add the American coefficient to 100. Now you need to divide 100 by the resulting number. Multiply the number by 100% to get the percentage probability:

[100 / Positive American Odds + 100] x 100%.

In our case:

[100 / 200 + 100] x 100% = 33.3%

How to Convert Decimal Odds to American Odds

If you want to go from decimal odds to American odds, you need to figure out what sign (+/-) the decimal odds will be.

It is very easy to understand. If the coefficient is higher than 2.00, it is a positive moneyline, and if the coefficient is below 2.00, it is a negative moneyline.

If your decimal rate is below 2.00, here's the formula:

(-100) / (Decimal Odds -1) = Negative American Odds.

If your decimal rate is higher than 2.00, below is the formula to calculate:

(Decimal Odds - 1) x 100 = Positive Moneyline Odds.

Let's say your positive decimal rate is 2.5:

(2.5 - 1) x 100 = +150

Let's say your negative decimal rate is 1.80:

(-100) / (1.80 -1) = -125

How to Convert American Odds to Profit

American negative odds are the numbers below 2.00. They are used to determine the favorite. As we said above, negative American odds show you how much you need to bet to get 100 NGN. If you want to get 100 NGN and the negative American odds are -300, you have to bet 300 NGN.

In order to calculate the profit, you need to divide the bet by the odds and multiply the resulting number by 100% to get the percentage.

Finding profit:

(Bet / Odds) x 100%.

Now, using a real example, if the odds are -300 and the rate is 12,000 NGN:

(12,000 / -300) x 100% = 4,000 NGN

American plus odds, on the contrary, are used to indicate the loser and have a number above 2.00. As we said before, positive American ratios show how much profit you make for 100 NGN. For example, a coefficient of +400 means that for every 100 NGN wagered, you will receive 400 NGN.

Now let's use an odds converter to profit from the American plus ratios. To do this, we multiply the bet by the odds and divide it by 100%:

(Rate * Odds) / 100%

For example, +300 chance and 12,000 NGN deposit:

(12,000 * 300) / 100 = 36,000 NGN

The Bottom Line

Now you know how to convert odds and calculate your profit correctly. Just choose the odds format you prefer and predict your winnings with the greatest accuracy!

If you are interested in successful betting with profitable and transparent decimal odds, try our Parimatch sports betting platform. Our user-friendly mobile website with a pleasant and straightforward interface allows you to choose from any betting market you wish and freely see the resulting winnings by using the best odds!

Moreover, at Parimatch, we offer a wide range of sports events, so you will definitely find your match with your favorite team or try something new. We try our best to make the process of betting more comfortable for you!