Converting odds can be key to quickly assess how much you should stake and how much profit you could receive on any given bet. Let’s take how our odds converter works and the advanced functions it provides.
Enter Your Odds (Converts Automatically)
|Fraction||Decimal||American||Implied Probability (%)|
Our aim is to make betting easier. In addition to our odds converter and our Each Way calculator, we provide a range of bet calculators that can help you with your betting. Check out our bet calculator page for more information or the promotions on the homepage, including the bet365 bonus code.
What Is The Odds Converter?
Our odds converter provides a quick and easy way to convert your odds between Fractional, Decimal, American and Implied Probability. Why is this necessary for your betting? It can make it much easier to assess the value in betting odds offered by a range of bookmakers.
Sure, odds like 4/1 and 9/2 are reasonably easy to understand. What if you’re presented with prices such as 11/4 or 21/50? Working out how much you stand to make can be difficult, particularly if you’re placing a range of bets in a short space of time. It’s sometimes easier to convert the odds into a different format. This, though, can be tough.
This is where our odds converter comes in. Enter the odds you want to convert and we will do the rest for you. Our software will convert to and from Fractional, Decimal and American odds, along with Implied Probability.
If you’re used to using bet calculators, such as our Each Way calculator, you’ll see that our odds converter is easy to use.
What Is Implied Probability And Odds Conversion?
If you’re new to betting, you might come across the term ‘implied probability’ and wonder what it is. Understanding probability is important to successful betting. Assessing the value in the odds provided is what can help you make better choices with your wagers.
Essentially, implied probability is the odds shown as a percentage. In other words, it shows you what chance the bookmaker is giving to a particular outcome occurring.
Let’s use an example. The easiest way to explain implied probability is the classic example of the coin toss. In theory, there is a 50% chance of the coin landing on heads and a 50% chance of it landing on tails.
So, if you were to place a £10 bet on the coin landing on heads, you have a 50% chance of being successful.
Let’s say you’re betting on the Match Result of a football match. There are three possible outcomes – Home Win, Away Win and Draw.
Again, in theory, each outcome has a 33.33% chance of occurring. However, as we know, this isn’t how betting works.
Let’s say the bookmaker has given odds of Evens on the home side to win, 4/1 on the away side and 15/4 on the draw. What is the bookmaker expecting?
Well, let’s use our odds converter to work it out. We can see from the odds provided that the bookie is giving the home win a 50% chance, the away win a 20% chance and a 21.1% chance of a draw.
There’s much more to implied probability than our example here. We recommend you study exactly what it means before you take on the bookmakers.
How To Use The Odds Converter?
So, looking to convert the odds you’ve been given? It’s easy! Let’s take a look at how you can get started.
Like our Each Way calculator, using the odds convert is a simple process. To convert any odds into any format you wish, follow the steps below.
- Enter the odds you want to convert
- Hit the Convert button
- The calculator will display odds in all available formats
Advanced Odds Converter Functions
Like all of our bet calculators, like our Each Way calculator, this device provides a number of additional functions. We’ll take you through some of these now.
Calculate Returns For Fractions/Decimals/American
All odds mean the same thing. However, as we touched upon earlier, if you’re present with a price like 21/50, it can be difficult at first glance to work out exactly how much you stand to win.
With our odds converter, we’ll not only convert the price you’ve been given into other formats, we’ll also show you your potential returns. Odds of 21/50 will be converted into Decimal odds of 1.42, American odds of -238, with an implied probability of 70.4%.
So, if you place a £1 bet on these odds, you stand to make £1.42 if your bet wins.
We’ve touched upon what implied probability is above. Working out implied probability can be tough work, particularly if you’re looking to place system or combined bets.
Many odds converters you’ll find online don’t provide this function. Ours, however, does. Implied probability will be displayed once you’ve entered the initial odds and hit the Convert key.
Why Use The Odds Converter?
While it’s possible to convert odds yourself, using the odds converter makes this process much more simple. To quickly assess probability and potential returns, our odds converter can do this for you.
Bookmaker Sign Up Codes
There are a range of online bookmakers available for UK customers. If you’re looking to create an account with a different operator, check out our bookmaker sign up codes. These can help you claim new customer bonuses and offers, like deposit match bonuses or risk free bets.
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Upcoming Football – Latest Tips
One of the most popular sports to bet on in the UK is, of course, football. There are thousands of football odds available every week. Sometimes, though, it can be difficult to assess the value in these odds.
We can help here, too. Take a look at some of our football tips, based on action from across Europe’s top leagues. The odds stated are subject to change.
About us: BonusCodeBets provides some of the best betting information and reviews on the market. Be it bonus codes, betting tips, betting guides, or free bets, we cover it all for top brands such as bet365, Ladbrokes, and William Hill. Furthermore, we try to highlight everything you need to know about UK online bookmakers. (T&Cs Apply)