Betting odds don’t just tell you how much you will win; they tell you how likely the bookmaker thinks an event is to happen. This is called Implied Probability.
For example, odds of 2.00 imply a 50% chance of winning. Odds of 1.50 imply a 66.7% chance. To become a profitable bettor, you must convert odds into percentages to see if the “True Probability” is higher than what the bookie suggests. Use our tool below to reveal the percentage behind the price.
Odds to Probability
How to Use the Calculator
This tool helps you visualize risk instantly:
- Enter Decimal Odds: Input the odds from your sportsbook (e.g., 2.50 or 1.91).
- View Probability: The tool displays the implied percentage (e.g., 2.50 = 40%).
- Analyze Value: If you believe the team actually has a 50% chance to win, but the odds imply only 40%, you have found a Value Bet.
The Formula
The math is straightforward: divide 1 by the decimal odds and multiply by 100.
Frequently Asked Questions (FAQ)
Why do the percentages for a match add up to more than 100%?
This is called the “Overround” or “Vig.” Bookmakers adjust the odds so that the total implied probability exceeds 100% (e.g., 105%). This extra 5% ensures they make a profit regardless of the outcome.
What is the probability of 2/1 odds?
Fractional odds of 2/1 equal Decimal odds of 3.00. Using the formula (1 ÷ 3.00) × 100, the implied probability is 33.3%.
How does this help me win?
You should only bet when your estimated probability of winning is higher than the bookmaker’s implied probability. This calculator is the first step in identifying those opportunities.