Cricket betting involves various wagers, from predicting match winners to player performances. However, when it comes to wagering, odds are displayed in different formats—decimal, fractional, and moneyline. This can make it challenging for bettors to compare values and determine potential payouts. An odds converter simplifies this process by instantly converting odds into a preferred format, helping punters make informed betting decisions easily.
What is an Odds Converter?
An odds converter is a tool that helps bettors convert betting odds between different formats. The odds converter allows punters to easily compare values, understand potential payouts, and make informed betting decisions. Whether you’re used to fractional odds but come across decimal odds or need to interpret moneyline odds, this tool ensures a seamless betting experience. Take a look at the different types of odds available in sports betting –
Decimal Odds
Decimal odds are the standard format used in many countries. These odds represent the total return (including the initial stake) for every unit wagered.
For example, if you bet INR 100 on odds of 2.0, your payout will be INR 100*2.0= INR 200.
In terms of conversion:
Decimal odds of 2.0 = +100 in American odds
Decimal odds of 2.0 = 1/1 in fractional odds
American Odds
American odds are mostly used in the United States and are expressed as positive (+) or negative (-) numbers.
Positive odds (+) indicate how much profit you would make on a INR 100 bet.
Example: +200 means that INR 100 bet would return INR 200 in profit for a total payout of INR 300 (including the stake).
Negative odds (-) indicate how much you must stake to win INR 100 in profit.
Example: -200 means you need to bet INR 200 to make INR 100 profit for a total payout of INR 300 (including the stake).
Fractional Odds
Fractional odds are used mainly in the UK and Ireland. This odds format represents the possible win for a given bet as a fraction of the stake. The format is displayed as X/Y, where:
X (numerator) = Profit earned per unit staked
Y (denominator) = Amount staked
For example:
If you bet INR 100 at 1/2 (fractional odds):
Your profit would be (1/2) × 100 = INR 50
Your total payout would be INR 150 → (INR 50 profit +INR 100 stake)
Conversion:
1/2 in fractional odds = 1.5 in decimal odds
1/2 in fractional odds = -200 in American odds
Breakeven Win Probability and Betting Odds
The betting odds converter also gives the breakeven win probability of a given odd, which can be very helpful when assessing a bet.
If you bet at a +100 odds, the breakeven win probability is 50%. You should take that bet only when you feel the “true” or “fair” win probability of the bet is more than 50%. On the other hand, if you make a bet at +900 odds, then the breakeven win probability is just 10,% and you need only to win +900 wagers 1/10 times to break even. Thus, if you estimate that the chance a given bet will win is 12.5%, then this wager is theoretically profitable. The “true” odds are >10%.
Odds Conversion Table
An odds conversion table helps bettors quickly compare different odds formats—decimal, fractional, and American—without manual calculations. Below is a simple reference table to convert odds across these formats.
Fraction | Decimal | American | Probability |
1/100 | 1.01 | -10000 | 99% |
1/10 | 1.1 | -1000 | 90.9% |
1/6 | 1.17 | -600 | 85.7% |
1/5 | 1.2 | -500 | 83.3% |
1/4 | 1.25 | -400 | 80% |
1/3 | 1.33 | -300 | 75% |
2/5 | 1.4 | -250 | 71.4% |
4/9 | 1.44 | -225 | 69.2% |
1/2 | 1.5 | -200 | 66.7% |
8/15 | 1.53 | -188 | 65.2% |
4/7 | 1.57 | -175 | 63.6% |
8/13 | 1.62 | -162 | 61.9% |
4/6 | 1.67 | -150 | 60% |
8/11 | 1.73 | -137 | 57.9% |
4/5 | 1.8 | -125 | 55.6% |
5/6 | 1.83 | -120 | 54.5% |
10/11 | 1.91 | -110 | 52.4% |
Evens | 2.0 | +100 | 50% |
11/10 | 2.1 | +110 | 47.6% |
6/5 | 2.2 | +120 | 45.5% |
5/4 | 2.25 | +125 | 44.4% |
11/8 | 2.37 | +137 | 42.1% |
6/4 | 2.5 | +150 | 40% |
13/8 | 2.63 | +163 | 38.1% |
7/4 | 2.75 | +175 | 36.4% |
15/8 | 2.88 | +188 | 34.8% |
2/1 | 3.0 | +200 | 33.3% |
9/4 | 3.25 | +225 | 30.8% |
5/2 | 3.5 | +250 | 28.6% |
11/4 | 3.75 | +275 | 26.7% |
3/1 | 4.0 | +300 | 25% |
10/3 | 4.33 | +333 | 23.1% |
7/2 | 4.5 | +350 | 22.2% |
4/1 | 5.0 | +400 | 20% |
9/2 | 5.5 | +450 | 18.2% |
5/1 | 6.0 | +500 | 16.7% |
11/2 | 6.5 | +550 | 15.4% |
6/1 | 7.0 | +600 | 14.3% |
13/2 | 7.5 | +650 | 13.3% |
7/1 | 8.0 | +700 | 12.5% |
15/2 | 8.5 | +750 | 11.8% |
8/1 | 9.0 | +800 | 11.1% |
9/1 | 10.0 | +900 | 10% |
10/1 | 11.0 | +1000 | 9.1% |
12/1 | 13.0 | +1200 | 7.7% |
14/1 | 15.0 | +1400 | 6.7% |
16/1 | 17.0 | +1600 | 5.9% |
18/1 | 19.0 | +1800 | 5.3% |
20/1 | 21.0 | +2000 | 4.8% |
25/1 | 26.0 | +2500 | 3.8% |
33/1 | 34.0 | +3300 | 2.9% |
50/1 | 51.0 | +5000 | 2% |
100/1 | 101.0 | +10000 | 1% |
200/1 | 201.0 | +20000 | 0.5% |
Betting odds and probability
In order to understand betting odds, we need to know what chance is. Chance means the likeliness of something happening. It’s usually expressed as a percent—or, better said, as a probability.
For example, the odds for India to win against Australia at 2.50 (decimal odds). This means that if you place a INR 100 bet on India, and they win, your total payout will be:
INR 100 × 2.50 = INR 250 (which includes your INR 100 stake and INR 150 profit).
To determine the implied probability of India winning, we use this formula:
Implied Probability (%) = (1 / Decimal Odds) × 100
= (1 / 2.50) × 100
= 40%
The bookmaker estimates India has a 40% chance of winning the match. This bet might offer good value if you believe India has a higher chance (e.g., 50% or more). It might not be a favorable bet if you think their actual chance is lower.
Odds Converter Utility
Understanding how to convert odds to their implied probability is quite instrumental and very helpful. Well, if you do not understand how to convert odds into their implied probability in any sports betting, then you are surely not helping yourself in the long term in this already competitive world. Understanding the implied probability of the odds is key to assessing the potential value in a particular betting market.
It’s just as important to assess how much value is available with particular odds on an outcome. That outcome represents a value betting opportunity when the implied probability is below your estimated probability of something happening.
What is implied probability?
The implied probability simply refers to the chance of the outcome, assuming that the odds are correctly priced. For example, assuming you take an odd of 5/2 in fractions means the winning probability is 28.57%. This is where you must verify if it is a good probability as assigned by the bookie for betting. You think the outcome has a probability of 50%, for example. You happen to get an odd of 5/2. You get a great deal!
FAQs
The Odds Converter is a tool that will permit the shifting between different formats of odds, decimal, fractional, and moneyline, in analyzing the probabilities and returns regarding a wager.
Deduct 1 from the decimal odds and then represent that in a fraction format. For example, the decimal odd of 2.50 is fractional odds of 3/2.
Negative moneyline odds demonstrate how much you have to wager to win INR 100. Example: -150 would mean you would have to wager INR 150 to win INR 00.
Not necessarily. Higher odds usually also mean a lower probability of winning, which can risk part of a wager.
