1. What is Odds to Percentage Conversion?

The odds to percentage conversion calculates the implied probability of an event occurring based on given odds. It transforms decimal odds into a percentage probability that helps assess the likelihood of an outcome.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• \( \text{Odds} \) — Decimal odds (e.g., 3.00)
• \( \text{Percentage} \) — Implied probability as percentage

Explanation: The formula converts decimal odds to their implied probability percentage. Lower percentages indicate less likely outcomes, while higher percentages indicate more likely outcomes.

3. Importance of Odds Conversion

Details: Converting odds to percentages helps bettors and analysts understand the true probability implied by the odds, allowing for better decision-making and value assessment.

4. Using the Calculator

Tips: Enter the decimal odds (must be ≥0). For example, odds of 3.00 would imply a 25% probability (1/(3+1)*100 = 25%).

5. Frequently Asked Questions (FAQ)

Q1: What's the difference between odds and probability?
A: Odds represent the ratio of success to failure, while probability represents the likelihood of success as a percentage.

Q2: How do American odds convert to percentages?
A: For positive American odds (+200): 100/(odds + 100). For negative (-150): odds/(odds + 100).

Q3: What does a 20% probability mean?
A: It means the event is expected to occur 20 times out of 100 trials, or 1 in 5 times.

Q4: Why do bookmakers' percentages add up to more than 100%?
A: The excess (overround) represents the bookmaker's margin or profit built into the odds.

Q5: How can I find value bets using this?
A: Compare your assessed probability with the implied probability - if yours is higher, it may represent value.