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These are listed below: What are implied odds? What are true odds? Implied odds and true odds are important in determining if you are making a bet that has good value. You can use our odds calculator above to calculate the implied odds of a given bet as long as you know the odds of the bet.

Implied odds are the conversion of a sportsbooks offered odds into an implied win probability. A spread bet in football is normally offered at on both sides of the bet. This gives both outcomes a win probability of The implied probability of this spread bet winning would be Let's use the above bet of for both outcomes on a NFL spread bet.

We know that both outcomes have an implied probability of If that same outcome has a true probability of This seems easy, but how do you find true odds? Essentially, true odds are subjective. However, one person can calculate true probability by using predictive models. This is where handicapping comes into play. Example Game: Tennessee Titans vs. Bills game at even odds. If the implied probability is less than your own assessed probability of a particular outcome occurring, that outcome represents a value betting opportunity.

If, however, you want to learn how to convert odds to implied probability and how to covert implied probability to various odds formats, please read on. This article explains in detail how to convert the three most popular odds formats in the world - decimal, fractional and American - into their implied probabilities and how to convert an implied probability into either of these odds formats.

What is implied probability? Implied probability is the probability of the outcome if you assume the odds are correctly priced. It's up to you to decide if the bookie's assigned probability is good or bad for you to bet. Frequently asked questions about how to convert odds How do i convert fractional to decimal? Just add 1 to the result of the divided fraction. First subtract 1 from the odd, then convert to a fraction with the odd as numerator and 1 as denominator.

Then reduce this fraction to the simplest from. For example, to convert 1. Considering a decimal odd, divide 1 by the odd, multiplied by Example: 2. A pro knows that when you place a bet you must have an advantage. Betting on the "feeling" is the strategy used by most amateurs and that's the reason why they keep loosing money. Ofcourse not! That's why having the best odd available is a key principle for making money with sports bets. Odds converter errors Keep in mind that when rounding values on odds converter you might see some discrepancies.

For example, when you use an odds converter to convert decimal 1. While this conversion to Please refer to the example formulas we provide in the FAQ for more information.