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Implied Probability Calculator

Being able to convert odds to implied probability with a calculator is imperative to understanding different opportunities in sports betting. Use the Implied Probability Calculator to input fractional odds, decimal odds, American odds or probability % to see the calculation in real-time!

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Once understood, dive on into BettorEdge and set a limit order to lock in your desired betting price! 

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Fractional

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Probability %

What is the Implied Probability Calculator?

The Implied Probability Calculator allows you to calculate the probability of an event occurring based on different types of odds, such as Fractional, Decimal, and American odds. Input one of these types of odds and the calculator can instantly show you the implied probability of the outcome, as well as convert between the different formats of odds helping you understand different odds formats
 

In sports betting, odds reflect the potential return on a bet and are closely tied to the perceived likelihood of an event happening. The implied probability is the probability that is embedded within the odds themselves. This calculator helps you understand the true odds by converting between formats and determining the implied probability, allowing for better decision-making when placing bets.

How to Use The Implied Probability Calculator

Using the Implied Probability Calculator is easy. 

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  • Input your preferred odds format (Fractional, Decimal, or American) into the appropriate field.

  • The calculator will automatically convert the entered odds into the other formats.

  • It will also calculate the implied probability in percentage form, showing you the likelihood of the event occurring based on the odds you’ve entered.

  • You can also input the implied probability percentage to calculate the corresponding odds in each format (Fractional, Decimal, or American).

  • The calculator works in real-time, providing instant results as you update any of the fields.

Implied Probability Calculator.png

Now let's take a look at each formula for conversion for anyone looking to learn more about the inter-workings of the Implied Probability Calculator.

Formulas for the Implied Probability Calculator

Fractional Odds to Decimal Odds Formula

To convert Fractional Odds to Decimal Odds, use the following formula:

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Decimal Odds = (Numerator / Denominator) + 1

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For Example: If you have 3/1 fractional odds, the decimal equivalent is 3 + 1 = 4.00

Fractional Odds Formulas for Implied Probability Calculator

There's 3 methods used by different bookmakers around the world based on preference. Additionally, implied probability is arguably one of the best to think of to understand outcome likelihood. 

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  • Fractional Odds - Used mostly in the UK and Ireland. The fraction states the potential profit if the bet succeeds in relation to the stake amount. Therefore, 2/1 odds on a $5 bet means you stand to profit $10 and the total return is $15 ($10 + $5).

  • Decimal Odds - Showcase the potential return if a bet succeeds. Decimal odds of 3 on a $5 bet mean you return $15 ($5 * 3) on the original $5.

  • American Odds - Often referred to as Moneyline odds have two views

    • Positive Odds (denoted by + sign) - showcase the winnings on a $100 bet. For example +110 wins $110 profit on $100 bet.​

    • Negative Odds (denoted by a - sign) - showcase the amount bet to win $100 profit. For example, -110 wins $100 profit on $110 bet.

  • Implied Probability - Shows the likelihood of something winning in probability %. For example, a coin has 50% chance of landing heads or a 6 sided die has 16.66% chance of landing a 1.

What are the different formats for the Implied Probability Calculator? 

An Implied Calculator is just one tool in your arsenal to help you know more about the betting landscape. BettorEdge, is an entire platform with tools, bet tracking, built-in odds/probability to give you the transparency needed to be a winning sports bettor. 

Also, since BettorEdge is peer-to-peer exchange, you can set your own price and lock in gains more easily with limit orders!


Sign up now to start winning more today! 

How to Use an Implied Probability Calculator with BettorEdge

BettorEdge_Vig Calculator.png

Fractional Odds to American Odds Formula

To convert Fractional Odds to American Odds, you can use this formula:

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  • If Fractional Odds > 1  (e.g., 3/1, 5/2):

         American Odds= (Numerator / Denominator) ×100

        

         For Example, 3/1 in fractional odds is 3/1 x 100 = +300
 

  • If Fractional Odds < 1  (e.g., 1/2, 1/3):

    American Odds= − (Denominator / Numerator) × 100

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         For Example, 1/3 in fractional odds is - (3/1) * 100 = -300

Fractional Odds to Probability Formula

To convert Fractional Odds to Probability in percentage form, you can use this formula:

  • Probability = Denominator / (Numerator + Denominator) X 100​
     

For Example, 3/1 in fractional odds is 1 / (3+1)  = 25%.

Also, 1/3 in fractional odds is 3 / (1+5) = 75%.

Decimal Odds to Fractional Odds Formula

To convert Decimal Odds to Fractional Odds, use the following formula:

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Fractional Odds = Decimal Odds - 1

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For Example: Decimal Odds of 1.5 = 1.5 -1 = .5 or 1/2 in fractional odds

Decimal Odds Formulas for Implied Probability Calculator

Decimal Odds to American Odds Formula

To convert Decimal Odds to American Odds, you can use this formula:

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  • If Decimal Odds > 2  (e.g., 4, 3.5):
     

         American Odds= (Decimal Odds - 1) ×100

        

         For Example, 4 in decimal odds is (4-1) x 100 = +300
 

  • If Decimal Odds < 2  (e.g., 1.5, 1.333):

    American Odds= − (100 / (Decimal Odds - 1)​
     

         For Example, 1.333 in decimal odds is - (100 / (1.33-1))  = -300

Decimal Odds to Probability % Formula

To convert Decimal Odds to Probability %, you can use this formula:

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  • Probability = (1 / Decimal Odds) * 100 

    For Example, 4 in decimal odds is (1 / 4)  x 100 = 25%
    Also, 1.33 in decimal odds is (1 / 1.33) x 100 = 75%

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American Odds to Fractional Odds Formula

American Odds Formulas for Implied Probability Calculator

To convert American Odds to Fractional Odds, you can use this formula:

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  • If American Odds > 0  (e.g., +110 or +200):
     

         Fractional Odds =  American Odds / 100

        

         For Example, +110 in Fractional odds is 110 / 100 or 11/10
 

  • If American Odds < 0  (e.g., -110 or -200):
     

    Fractional Odds= 100 / Absolute Value of American Odds â€‹
     

         For Example, -200 in American odds is 100 / ABS(-200)  = 100 / 200 or 1/2

American Odds to Decimal Odds Formula

To convert American Odds to Decimal Odds, you can use this formula:

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  • If American Odds > 0  (e.g., +110 or +200):
     

         Decimal Odds = American Odds / 100 + 1

        

         For Example, +110 in American odds is 110 / 100 + 1 = 2.1
 

  • If American Odds < 0  (e.g., -110 or -200):
     

    Decimal Odds = (100 / ABS(American Odds) +1​
     

         For Example, -110 in American odds is (100 / ABS(-110) ) + 1 = 100 / 110 + 1 = 1.91

American Odds to Probability % Formula

To convert American Odds to Probability %, you can use this formula:

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  • If American Odds > 0  (e.g., +110 or +200):
     

         Probability % = 100 / (American Odds + 100) * 100

        

         For Example, +110 in American odds is 100 / (110 + 100) * 100 = 47.62%
 

  • If American Odds < 0  (e.g., -110 or -200):
     

    Probability % = ABS(American Odds) / (ABS(American Odds) +100 ) * 100
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         For Example, -110 in American odds is ABS(-110) / ( ABS(-110) + 100 ) * 100 = 110 / (110+100) * 100 = 52.38%

Probability % to Fractional Odds Formula

Implied Probability Formulas to Odds for Implied Probability Calculator

To convert Probability % to Fractional Odds, you can use this formula:

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  • Fractional Odds =  (100 - Probability) / Probability x 100

        

         For Example, 25%in Probability % is (100 - 25) / 25 or 3

Probability % to Decimal Odds Formula

To convert Probability % to Decimal Odds, you can use this formula:

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  • Decimal Odds = ( (100 - Probability) / Probability x 100) + 1

    For Example, 25%in Probability % is ((100 - 25) / 25) + 1 or 4

Probability % to American Odds Formula

To convert Probability % to American Odds, you can use this formula:

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  • If Probability % >= 50% (negative odds):

    American Odds = - (100 x Probability ) / (100 - Probability)
            

         For Example, 75% in Probability is - (100 x 25) / (100 - 25) - 7500 / 25 = -300
 

  • If Probability % < 50%  (positive odds):
     

    American Odds = 100 x (100- Probability ) / Probability
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         For Example, 25% in Probability is (100 x 25) / (100 - 25) - 7500 / 25 = +300

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