Simple Odds Converter
Determine the number of unfavorable outcomes. In a game of chance, there's always a chance that you won't win. If we bet that we'll roll either a one or a two, that means we'll lose if we roll a three, four, five, or six.
Since there are four ways that we can lose, that means that there are four unfavorable outcomes. Another way to think of this is as the Number of total outcomes minus the number of favorable outcomes. When rolling a die, there are a total of six possible outcomes - one for each number on the die. In our example, then, we would subtract two the number of desired outcomes from six.
Similarly, you may subtract the number of unfavorable outcomes from the total number of outcomes to find the number of favorable outcomes. Generally, odds are expressed as the ratio of favorable outcomes to unfavorable outcomes, often using a colon. In our example, our odds of success would be 2: Like a fraction, this can be simplified to 1: This ratio is written in words as "one to two odds.
In fact, we have a one-third chance of winning. Remember when expressing odds that odds are a ratio of favorable outcomes to unfavorable outcomes - not a numerical measurement of how likely we are to win. Know how to calculate odds against an event happening. What if we want to know the odds of losing, also called the odds against us winning? To find the odds against us, simply flip the ratio of odds in favor of winning.
Remember, as above, that this isn't an expression of how likely you are to lose, but rather the ratio of unfavorable outcomes to favorable outcomes. How do you like those odds? Know the difference between odds and probability. The concepts of odds and probability are related, but not identical. Probability is simply a representation of the chance that a given outcome will happen. This is found by dividing the number of desired outcomes over the total number of possible outcomes.
It's easy to convert between probability and odds. Subtract the numerator 5 from the denominator The answer is the number of unfavorable outcomes. Odds can then be expressed as 5: Add the numerator 9 and denominator The answer is the total number of outcomes.
Differentiate between dependent and independent events. In certain scenarios, odds for a given event will change based on the results of past events. For example, if you have a jar full of twenty marbles, four of which are red and sixteen of which are green, you'll have 4: Let's say you draw a green marble. If you don't put the marble back into the jar, on your next attempt, you'll have 4: Then, if you draw a red marble, you'll have 3: Drawing a red marble is a dependent event - the odds depend on which marbles have been drawn before.
Independent events are events whose odds aren't effected by previous events. Flipping a coin and getting a heads is an independent event - you're not more likely to get a heads based on whether you got a heads or a tails last time. Determine whether all outcomes are equally likely.
If we roll one die, it's equally likely that we'll get any of the numbers 1 - 6. However, if we roll two dice and add their numbers together, though there's a chance we'll get anything from 2 to 12, not every outcome is equally likely.
There's only one way to make 2 - by rolling two 1's - and there's only one way to make 12 - by rolling two 6's. By contrast, there are many ways to make a seven. For instance, you could roll a 1 and a 6, a 2 and a 5, a 3 and a 4, and so on.
In this case, the odds for each sum should reflect the fact that some outcomes are more likely than others. Let's do an example problem. To calculate the odds of rolling two dice with a sum of four for instance, a 1 and a 3 , begin by calculating the total number of outcomes. Each individual dice has six outcomes. Take the number of outcomes for each die to the power of the number of dice: Next, find the number of ways you can make four with two dice: So the odds of rolling a combined "four" with two dice are 3: Your odds of rolling a "yahtzee" five dice that are all the same number in one roll are very slim - 6: Take mutual exclusivity into account.
Sometimes, certain outcomes can overlap - the odds you calculate should reflect this. For instance, if you're playing poker and you have a nine, ten, jack, and queen of diamonds in your hand, you want your next card either to be a king or eight of any suit to make a straight , or, alternatively, any diamond to make a flush.
Let's say the dealer is dealing your next card from a standard fifty-two card deck. There are thirteen diamonds in the deck, four kings, and four eights. Books dominated Week 2. Betting Recap - Week 3. Betting Recap - Week 2. CL - Futures Best Bets.
CL - Group Best Bets. Week 3 Opening Odds. Week 4 Opening Odds. Tech Trends - Week 2. Value Index Edge - Week 2. SuperContest Picks - Week 2. The game pits the winner of the American League versus the National League. The World Series begins in late October as the two teams square off in a best-of-seven series. More World Series History. Popular Sportsbooks BetOnline Bookmaker. With our sports betting calculator below, you can choose from the drop-down box the chance of an outcome happening.
Does that match the online bookies' pricing? On this page you'll be able to convert sports betting odds using our sports betting calculator across the three different formats, or convert chance of winning percentages to each of the different formats, hassle-free and in a flash.
Here's how our betting calculator works. To use, simply input your known odds in either Moneyline American , Fractional UK or Decimal European odds into one of the boxes in the gambling odds calculator and click the convert button. The odds equivalent in all other formats will then be shown, as well as your expected profit, odds, and payout. Remember that you would also have your original bet returned to you, so add that value to the profit for your total payout figure.
The odds equivalent in all other formats will then be shown, as well as your expected profit. When betting on the moneyline in American odds, the team that you are betting on just needs to win the game. The fractional odds displayed shows how much you can win on a bet compared to how much you put on it. The first number will show how much you can win, when you place the second amount as a wager.
With decimal odds, you will multiply your wager by the decimal shown, with the answer being what you will receive in winnings, including your original wager. We hope you make good use of our sportsbetting odds calculator and our odds converter app on this page.