By keeping notes of the betting odds, you got for all of your bets, you will have an incredibly useful resource that will enable you to spot patterns in your betting. For example, if you bet on Leicester City to win an FA Cup game at fractional odds of 3/1. This calculation tells you that fractional odds of 11/10, when converted to decimal odds, are 2.1.
Betting odds are not just a useful tool to help you calculate your winnings, they are a powerful weapon in the ongoing battle to beat the bookmakers. But if you discover that your 3/1 bets are winning more often, that could indicate that you have found a way to uncover value. All things being equal, you would expect that bets made at 3/1 would win around a quarter of the time. This means that you must consistently make bets at odds that are bigger than they should be. Perhaps you will find that you are actually doing well with bets that are odds-on but more poorly with outsiders, suggesting that you find it harder to accurately weigh up the chances of bigger priced options.
2 An Introduction to Odds, Odds Ratios and Exponents
There are three different types of odds used commonly in a sports betting odds calculator. This useful section of the betting odds calculator highlights the implied probability of success on each set of odds. The only difference is that they inform you of the profit you can expect, as opposed to the return (profit plus getting your stake back).Decimal betting odds of 3.75 would therefore become 2.75 in the Hong Kong format. It accepts American odds, decimal odds, fractional odds, Malay odds, Indonesian odds, and Hong Kong odds, while also informing you of the implied probability of success. American odds is the third and final form of sports betting odds you may encounter as an online gambler.
As you can see, there is a free odds calculator on this page and it is quite intuitive so the process to use it is very straightforward. You’ll have to think long and hard about coming up with any disadvantages to using our odds calculator. Dive into English football betting with our refined betting tips.
How do blood types work?
So, 3/1 in decimal form is 4.00. They are always shown as a single number with a decimal point. Decimal odds are straightforward once you know what to look for. Install the betHQ App on your iPhone and then Add to Home Screen Even if you rule out less reputable bookmakers, you’ll be left with a fairly large selection of bookmakers, and it can be time-consuming to visit each of these bookie’s odds converter sites online.
Fractional Odds
- Of course, the more complex calculators could take some getting used to, but all of them use the same format of simply inputting the data that is asked for and then pressing a quick button!
- Moneyline odds, or US odds, are tricky for anyone who’s not used to them.
- The difference between the paid odds and the true odds is how the bookmaker earns a profit.
Since these odds imply a 32% chance of winning, you’re unlikely to hit winners every time. But if you’re just guessing or backing long shots for fun, remember – 21/10 bets don’t land more often than they miss. This is where concepts like value betting come into play.
Other odds systems are used more commonly in other parts of the world too. Conversely, if a selection is not attracting as much money as the others, or is attracting very little money, then the bookmaker may increase the value of the odds on that selection. This is called shortening the odds or the odds are said to “come in”. When a selection in a market is backed, the bookmaker will adjust the odds on that selection to a lower price.