1. 4 1 As A Decimal Odds Fraction
2. Odds Conversion Calculator
3. 4 1 As A Decimal Odds Decimal
4. Fraction To Decimal Betting Calculator

If you want to know how to convert fractional odds to decimal odds, you will be happy to know that the process is also simple. For example, for 4/1 or four-to-one fractional odds, the decimal odds would be 5.00: 4/1 = 4. US Odds (Moneyline Odds). Fraction and decimal odds are the most popular format of odds used by the majority of online bookmakers. An example of a fraction odd is 2/1 – this means that for every £1 a customer bets, you will receive £2 if the bet is to win. Likewise, a 2/1 bet in decimal form is 3.00, also meaning that for every £1 bet, you will receive £2 if the. Odds conversion table with probability. Must be a number greater than 1. Must be a fraction, for example 2/1. Must be '+' or '-' and a whole number over 100. Must be a number from 0-100. By convention only a set of fractions are used in fractional odds betting markets.

Chance is a bettor’s friend. Outside sports betting, percentage terms are more commonly used when referring to it. Just take a look at a coin toss for an example. If you toss a coin, there is a 50% chance that it will land on heads and a 50% chance of it landing on tails. Any possible outcomes will always sum up to 100%. To complicate things a little further, let’s use a six-sided dice as an example. If you roll the dice, there are one in six chances that a particular number will come up. The chance in this scenario can be expressed as 16.66% [(1/6)100 = 16.66%].

If you're seeing 15 or 25 instead of 15/1 or 25/1, you're seeing a decimal form of odds, as opposed to fractional. Multiplying your stake by decimal odds gives your. When it comes to decimal odds, your stake is always factored into the return that you calculate but this is not the case when following the fraction method. In terms of the latter, if you put £1 on odds of 4/1 you will receive £4 in profit but also get your £1 stake back too – so £5 in total.

Meanwhile in sports betting, odds represent the same principle. Odds are basically the reflection of the probability or chance of a particular outcome in an event. Bookmakers establish prices or odds that will reflect the chances of an outcome taking place. Most online bookies provide you with the choice of which type of odds you want to utilise.

If you have tried betting on the best bookmakers online, you know that there are three types of odds that you will encounter. Europeans are more familiar with decimal odds (i.e. 2.00). On the other hand, US bettors are more familiar with fractional or US odds. It is also important to note that some bookies feature US odds without the option of conversion to decimal odds. Consequently, it can be quite difficult to calculate the odds, especially if you’re eager to use your betting bonus codes. So take your time to read the explanation of different odds below so you can gain a better edge on betting.

Decimal Odds

4 1 As A Decimal Odds Fraction

Instead of using percentage terms, bookmakers use decimal odds. Often referred to as European odds, decimal odds are most widely used by sports bettors in Europe, Australia and Canada. They are quite simple to understand, which is also the reason why they are a favourite way of representing of odds across the world.

It’s quite easy to calculate your potential winnings with decimal odds. It involves multiplying your stake by the odds. Here is a simple formula for decimal odds:

Potential Payout = Stake x Decimal Odds

Before you use your bookmakers no deposit bonus, take a look at the examples below to gain a better understanding of decimal odds.

Let’s say you’re placing a bet on a team with winning decimal odds of 1.82. If you place a £69.55 wager, then the potential return on your bet will be £126.58. Keep in mind that this calculation includes your original stake of £69.55, so your actual net profit on this winning bet would be £57. Simply put the calculation will be:

Potential Payout (£126.58) = Stake (£69.55) x Decimal Odds (1.82)

Always keep in mind that when you use decimal odds, your original stake is included in the calculation of your potential winnings. Hence, when you calculate your potential winnings, always remember to account for your original stake to determine your potential net earnings.

2.0 is the breakeven odds for decimal odds, since these will simply double your stake. If the decimal odds are lower than 2.0, then your potential winnings will be lower than your stake. On the other hand, if odds are higher than 2.0, then your potential payout will be higher than your stake.

Fractional Odds

Also known as UK Odds, fractional odds are more widely used in the United Kingdom and Ireland. This odds format was initially used in horse racing. Needless to say, it is one of the oldest types of odds that long-time bettors are familiar with. Just take a look at the best online bookmakers in the UK and you will see that most of them feature fractional odds.

Like decimal odds, fractional odds are quite easy to calculate simply because they are in fraction form. The second number to the right, or the denominator, is the bet amount while the first number on the left, or the numerator, is the amount that your bet will yield. Let’s say you wagered on a team with 10/15 fractional odds. This means that for every $150 bet, you can potentially earn a $100 net profit. If your bet wins, you get $250 ($150 original stake + $100 profit). Simply put the calculation says:

10/15 Fractional Odds: $150 to win $100 = $250

The slash (/) in fractional odds may also be represented by a colon (:). For instance, for a 4:1 (also referred to as ‘four-to-one’) odds, the bettor has to wager £100 to make a £400 profit. On the other hand, for 1:4 odds, you would win £25 on a £100 wager. In fractional odds, this simply means you’d have to divide the value of your wager to the value of the denominator to determine how much you can potentially win.

If you want to know how to convert fractional odds to decimal odds, you will be happy to know that the process is also simple. For example, for 4/1 or four-to-one fractional odds, the decimal odds would be 5.00:

4/1 = 4

4+1 = 5.00

US Odds (Moneyline Odds)

Also known as ‘moneyline odds,’ US odds are mainly used by sportsbooks that cater to bettors in the US. US odds are probably the easiest to comprehend since the odds are represented by the amount that the bettor will have to wager to win $100.

Depending on the bookmaker, you will find two basic types of ‘picks’ – the favourites and the underdogs. When you look at sports betting live odd comparisons, you will see that the favourites are identified with a minus (-) symbol. Better chances of winning are present when the absolute value of the number is higher. For example, a -250 favourite has a better chance of winning compared to a -200 favourite. On the other hand, the underdogs are identified with a plus (+) symbol.

$100 is always used as a baseline for US odds. It also means that in favourites, you are required to wager the provided odds to win $100. With underdogs, on the other hand, you have to wager $100 to win the provided odds. For example, if you bet on a -135 favourite, you must wager $135 in order to win a net profit of $100. On the other hand, a +350 underdog will require you to wager $100, but you’ll have a net profit of $350.

To convert US odds to decimal odds, simply use the formulas below:

Decimal = (Positive US + 100) / 100

Let’s say you’re betting on +150:

Decimal = (150 + 100) / 100

Decimal = 250/100

Decimal = 2.5

Decimal = (Negative US + 100) / Negative US

Let’s say you’re betting on -120 (ignore the ‘-‘ on your calculation)

Decimal = (120 + 100) / 120

Decimal = 220/120

Decimal = 1.83

Converting Odds

To give you a comparison of the values of the different odds format, take a look at the table below.

Understanding betting odds can be quite complicated. That is why it is good to know that there are established as well as latest online bookmakers with odds conversion capability depending on your preference. Browse through HitYah’s sportsbooks to discover the top bookmakers online.

Fixed-odds betting is a form of wagering against odds offered by a bookmaker or an individual or on a bet exchange. It involves betting on an event in which there is no fluctuation on the payout. In Australia, the practice is usually known as 'SP betting'.

Calculating fixed odds[edit]

It is customary with fixed-odds gambling to know the odds at the time of the placement of the wager (the 'live price'), but the category also includes wagers whose price is determined only when the race or game starts (the 'starting prices'). It is ideal for bookmakers to price/mark up a book such that the net outcome will always be in their favour: the sum of the probabilities quoted for all possible outcomes will be in excess of 100%. The excess over 100% (or overround) represents profit to the bookmaker in the event of a balanced/even book. In the more usual case of an imbalanced book, the bookmaker may have to pay out more winnings than what is staked or may earn more than mathematically expected. An imbalanced book may arise since there is no way for a bookmaker to know the true probabilities for the outcome of competitions left to human effort or to predict the bets that will be attracted from others by fixed odds compiled on the basis personal view and knowledge.

With the advent of Internet and bet exchange betting, the possibility of fixed-odds arbitrage actions and Dutch books against bookmakers and exchanges has expanded significantly. Betting exchanges in particular act like a stock exchange, allowing the odds to be set in the course of trading between individual bettors, usually leading to quoted odds that are reasonably close to the 'true odds.'

'The best of it'[edit]

In making a bet where the expected value is positive, one is said to be getting 'the best of it'. For example, if one were to bet $1 at 10 to 1 odds (one could win $10) on the outcome of a coin flip, one would be getting 'the best of it' and should always make the bet (assuming a rational and risk-neutral attitude with linear utility curves and have no preferences implying loss aversion or the like). However, if someone offered odds of 10 to 1 that a card chosen at random from a regular 52 card deck would be the ace of spades, one would be getting 'the worst of it' because the chance is only 1 in 52 that the ace will be chosen.

In an entry for L'Encyclopédie (the Enlightenment-era 'French Encyclopedia'), Denis Diderot cites a similar example in which two players, Player A and Player B, wager over a game of dice that involves rolling two six-sided dice. Player A wins if the dice add up to 12, of which there is only one possible case. Player B wins if the dice fall in any other combination, of which there are 35 possibilities.^[1] It is mathematically disadvantageous to make a bet if one gets'the worst of it.' Accordingly, for the bet to be 'fair,' the amount each player could potentially lose or gain from the wager should be adjusted, depending on the odds of their success.

Odds Conversion Calculator

Laying odds[edit]

When making a bet in which one must put more at risk than one can win, one is laying the odds. Rational bettors will do so only if the actual chances of an adverse outcome are low enough that the expected outcome even after deduction of taxes and any transaction costs is favorable to the person placing the bet. For example, if one bets $1,000 that it will rain tomorrow and can win only $200 but can lose the entire $1,000, one is laying odds that will rain tomorrow. Laying odds is reflected in the colloquial expression '[I would] dollars to doughnuts' — with which the speaker is expressing a willingness to risk losing something of value in exchange for something worthless, because winning that bet is a certainty.^[2]

Lay betting[edit]

'Lay betting' is a bet that something will not happen, so 'laying $50 on a horse' is betting the horse will not win. Bookmakers sell bets based on the odds of a specific outcome, but lay betting allows the bettor (in some English-speaking countries, the 'punter') to reverse roles with the bookmaker, using odds to sell the opposite outcome to the bookmaker. In this context, 'lay' is used in the sense of 'layman', i.e., a bet sold by someone who does not sell bets professionally.

Types of odds offered[edit]

There are three widely used means of quoting odds:

Fractional odds[edit]

Favoured by bookmakers in the United Kingdom and Ireland and common in horse racing, fractional odds quote the net total that will be paid out to the winning bettor relative to the stake. The term 'fractional odds' is something of a misnomer, especially when visually reinforced by using a slash (as opposed to, e.g., a colon or the word 'to' or 'on') to separate a potential gain from the amount that a bettor must wager in order to receive it upon a win, because the 'fraction' in question represents not the odds of winning or even the reciprocal of the odds of winning but rather the fraction (for any odds longer than 'even money' or chances of winning less than 50%, an improper fraction) of the amount at stake that the upside outcome represents. This fraction may be derived by subtracting 1 from the reciprocal of the chances of winning; for any odds longer than 'even money,' this fraction will be an improper one.^[3][4] Odds of 4:1 ('four-to-one' or less commonly 'four-to-one against') would imply that the bettor stands to make a £400 profit on a £100 stake. If the odds are 1:4 (read 'one-to-four', or alternatively 'four-to-one on' or 'four-to-one in favor'), the bettor stands to make £25 on a £100 stake. In either case, against or on, should he win, the bettor always receives his original stake back, so if the odds are 4:1 the bettor receives a total of £500 (£400 plus the original £100). Odds of 1/1 are known as evens or even money.

Not all fractional odds are traditionally read using the lowest common denominator. Perhaps most unusual is that odds of 10:3 are read as 'one-hundred-to-thirty'.

Fractional odds are also known as British odds,UK odds,^[5] or, in that country, traditional odds.

Decimal odds[edit]

Favoured in Continental Europe, Australia, New Zealand and Canada, decimal odds differ from fractional odds by taking into account that the bettor must first part with their stake to make a bet; the figure quoted, therefore, is the winning amount that would be paid out to the bettor.^[4][6] Therefore, the decimal odds of an outcome are equivalent to one plus the decimal value of the fractional odds; in the absence of built-in house advantage to cover overhead, profit margins, or (for an illegal enterprise) compensation for the fact that both chances of prosecution and penalties in the event of conviction tend to be higher for bookmakers than for clients, the decimal odds associated with a given outcome would be the decimal expression of the reciprocal of what the offering party assesses to be the outcome's chance of occurring.^[7] Thus, even odds 1/1 are quoted in decimal odds as 2. The 4/1 fractional odds discussed above are quoted as 5, while the 1/4 odds are quoted as 1.25. It is considered to be ideal for parlay betting because the odds to be paid out are simply the product of the odds for each outcome wagered on.

4 1 As A Decimal Odds Decimal

Decimal odds are also known as European odds, digital odds or continental odds and tend to be favoured by betting exchanges because they are the easiest to work with for trading, in this case the purchase and sale of upside and downside risk.^[5]

Moneyline odds[edit]

Fraction To Decimal Betting Calculator

Moneyline odds are favoured by United States bookmakers and as such are sometimes called American Odds.^[4] There are two possibilities: the figure quote can be either positive or negative. Moneyline refers to odds on the straight-up outcome of a game with no consideration to a point spread.

Positive figures

If the figure quoted is positive, the odds are quoting how much money will be won on a $100 wager (done if the odds are better than even). Fractional odds of 4/1 would be quoted as +400 while fractional odds of 1/4 cannot be quoted as a positive figure.

Negative figures

If the figure quoted is negative, the moneyline odds are quoting how much money must be wagered to win $100 (this is done if the odds are worse than even). Fractional odds of 1/4 would be quoted as −400 while fractional odds of 4/1 cannot be quoted as a negative figure.

Even odds

Even odds are quoted as +100 or −100. Some but not all bookmakers display the positive symbol.

Odds conversion[edit]

To convert fractional odds to decimal, take the fractional number, convert it to decimal by doing the division, and then add 1. For example, the 4-to-1 fractional odds shown above is the same as 5 in decimal odds, while 1-to-4 would be quoted as 1.25.

The method for converting moneyline to decimal odds depends on whether the moneyline value is positive or negative. If the moneyline is positive, it is divided by 100 and add 1. Thus, +400 moneyline is the same as 5.0 in decimal odds. If the moneyline is negative, 100 is divided by the absolute moneyline amount (the minus signed is removed), and then 1 is added. For example, −400 moneyline is 100/400 + 1, or 1.25, in decimal odds.

See also[edit]

References[edit]

1. ^'Wager'. University of Michigan Library. Retrieved 1 April 2015.
2. ^Listening to America, Stuart Berg Flexner (Simon and Schuster, New York, 1982).
3. ^'Betting School: Understanding Fractional & Decimal Betting Odds'. Goal. 10 January 2011. Retrieved 27 March 2014.
4. ^ ^abcCortis, Dominic (2015). Expected Values and variance in bookmaker payouts: A Theoretical Approach towards setting limits on odds. Journal of Prediction Markets. 1. 9.
5. ^ ^ab'Betting Odds Format'. World Bet Exchange. Archived from the original on May 2, 2014. Retrieved 27 March 2014.
6. ^D., Chris. 'What is Fixed odds betting and Due Column betting?'. TBR. Retrieved 27 March 2014.
7. ^'Fractional Odds'. betstarter.com/. Archived from the original on April 2, 2014. Retrieved 27 March 2014.

External links[edit]