When it comes to gambling, having a solid grasp on the equations that convert betting odds can be to your advantage. Essentially, you need to know the fundamentals of this concept so that you do not fail to convert odds into their potential probabilities. If you convert them incorrectly, then you are not improving your chances of winning – at all. When you have sound knowledge on the implied probability that the odds hold, then you will be able to accurately assess the possible value of each betting market.

It’s just as crucial to know how to assess the values that are put forth when considering specific odds on a stipulated outcome. If the implied probability measures less than an assessment you have made, then your informed decision can represent a valuable betting opportunity. If you’re more of a Casino guy, Timeform Casino have tonnes of games for you to have a go at.

If, on the other hand, you want to master the art of converting odds to implied probability and into a variety of odds formats, then please continue to read this post. Here, we will explain how to convert the 3 most popular odds formats i.e. decimal, fractional and American – into their implied probabilities.

**Steps on How To Convert Odds**

**Here are 3 easy steps on how to convert odds:**

- First, you need to determine the odds format. Essentially, there are 3 formats to choose from, namely Decimal, Fractional and American.
- The next step is to start converting the odds into their implied probability.
- Now, convert the implied probability to an ideal odds format.

For e.g., if the decimal odd is f 3.00 and has an implied probability of 33.3%. This, in turn, can be changed to a fractional odd of 2/1.

**Here’s How to Convert Fractional Odds to Decimal Odds**

You can use the following equation when converting fractional odds to a decimal form:

*(numerator/denominator) + 1 = decimal odds*

E.g. (38/7) + 1 = 6.42

By adding the “1” to the equation, you will account for the return stake which has not been mentioned in the fractional odds. It is, however, mentioned in the return displayed by decimal odds.

**Here’s How to Convert Percentage Odds to Decimal Odds**

Decimal odds are easy to calculate because they are just inverted probabilities. This equation, therefore, swiftly converts percentages into decimal odds:

*100 / implied probability = decimal odds*

E.g. Let us assume that Liverpool has a 58% chance of overtaking Man. United on home ground. The calculation for decimal odds will require that you convert 58% into odds:

100/58 = 1724

In this calculation, no addition is required for return of stake (because it has already been included in the display of both percentage and decimal odds).

**Here’s How to Convert American Odds to Decimal Odds**

Converting American odds is a simple task when using the following calculations:

The equation is:

*(American odds / 100) + 1 = Decimal odds*

E.g. Say the starting price offered on the Denver Broncos is +205 to win Super Bowl 50

The calculation would be:

(205 / 100) + 1 = 3.05

Similar to the fractional odds conversion, the “1” is added to compensate for the stake being withheld – but it needs to be included for decimal odds.