OddsGuard - Sports Betting Odds Comparison by OddsGuard

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For example, if £5 is bet at odds of 3 the total returned is £15 (£5 * 3) the potential profit is £10 (£5 * 3 minus the £5 stake).

Positive figures: The odds state the winnings on a £100 bet e.g. american odds of 110 would win £110 on a £100 bet. Negative figures: The odds state how much must be bet to win £100 profit e.g.

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They are widely used around the world in countries like the United States, with bettors worldwide adopting this format. Decimal odds represent the total amount a bettor will receive for every one unit wagered, including the original stake. For example, if the decimal odds are 3.00, and you bet £1, you will receive £3 in return if you win (including your £1 stake). You simply multiply your stake by the decimal odds to determine the potential profit. For instance, a £10 bet at 3.00 odds would return £30, meaning a profit of £20.

What does matched betting mean?

The simplicity of decimal odds makes them appealing, especially for beginners in sports betting. They provide a clear and quick understanding of the potential return on a bet without the need for additional calculations. Fractional odds are a traditional format for odds, particularly popular in the United Kingdom and Ireland. These odds are expressed as a fraction, such as 5/1, indicating the amount of profit to the amount staked. In this example, for every £1 wagered, the bettor would win £5, plus the return of their original £1 stake, making a total return of £6. american odds of -120 would win £100 on a £120 bet. Odds correlate to probability e.g a 3/1 bet is expected to win one in every 4 attempts.

Tool Moneyline Point Spread Over/Under Props Futures
Oddschecker Yes Yes Yes Yes Yes
OddsPortal Yes Yes Yes Limited Yes
The Action Network Yes Yes Yes Yes No

Decimal - 1 divided by the decimal odds, multiplied by 100 to give a percentage e.g. Fraction - 1 divided by (the fractional odds plus 1), multiplied by 100 to give a percentage. fractional odds of 3/1 = (1 / ((3/1) + 1)) * 100 = 25%.

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For example, odds of 1/4 imply a probability of 80% (4/(1+4)). Implied probability is crucial for bettors as it helps them compare an event’s likelihood with the odds being offered. It’s a key aspect of ‘value betting’ – identifying when the odds on offer provide a favourable return relative to the perceived probability of the event. OddsMonkey offers an implied probability calculator that is useful for working out the differences between the bookmakers’ odds and your implied chance of the selection winning. OddsMonkey provides a huge variety of sports betting guides and tools which are incredibly useful to bettors of all experience levels.

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There are tools like the matched betting calculator available, joining a whole list bet football betting odds uk of betting calculators on the site. Regardless of how much sports betting you have done in the past or what your level or experience is, the calculators on offer from OddsMonkey are easy to use and will always provide accurate results. These betting calculators and other tools are designed to be usable for anyone and everyone. 18+ Wagering and T&Cs apply Play Responsibly Commercial Content 18+ Wagering and T&Cs apply Play Responsibly Commercial Content If you're looking to sign up for a new betting account, don't forget to use the latest bet365 bonus code. bet365 accepts new customers from most countries and offers a sports sign up bonus when local law permits. American: Positive odds - 100 divided by (the american odds plus 100), multiplied by 100 to give a percentage e.g.

american odds of 150 = (100 / (150 + 100)) * 100 = 40%.Negative odds - Firstly multiply the american odds by -1 and use the positive value in the following formula: american odds divided by (the american odds plus 100), multiplied by 100 to give a percentage e.g.

Tool Name Key Feature Sports Covered Mobile App
Oddschecker Live Odds Updates 15+ Yes
OddsPortal Historical Odds Data 40+ Yes
BetBrain Arbitrage Finder 20+ No
BetExplorer Form & Statistics 30+ Yes
SoccerVista Soccer-Specific Focus 1 (Soccer) No

american odds of -300 = (300/(300+100)) * 100 = 75%.

Bookmaker Man City Win Draw Liverpool Win
Pinnacle 2.10 3.60 3.40
Bet365 2.05 3.50 3.30
Sky Bet 2.00 3.40 3.25
888sport 2.08 3.55 3.35

Positive odds - 100 divided by (the american odds plus 100), multiplied by 100 to give a percentage e.g.

american odds of 150 = (100 / (150 + 100)) * 100 = 40%.

Detailed Instructions for Using the Odds Converter

Fractional odds can be more complicated to understand at first, especially for those unfamiliar with fractions. They are more commonly used in horse racing and are integral to the betting culture in the UK and Ireland. To calculate the potential profit, you divide your stake by the denominator (the second number in the fraction) and then multiply it by the numerator (the first number). For example, a £10 bet at 5/1 odds would yield a £50 profit, plus the return of the original stake. Implied probability is a concept derived from betting odds that indicates the likelihood of a particular outcome.

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It is an important tool for bettors to assess the value of a bet. In essence, it converts traditional odds into a percentage that reflects the chance of an event happening. For decimal odds, the calculation is 1 divided by the decimal odds. For example, odds of 4.00 imply a 25% chance of that event occurring (1/4.00 = 0.25). For fractional odds, the calculation is the denominator divided by the sum of the numerator and denominator. Negative odds - Firstly multiply the american odds by -1 and use the positive value in the following formula: american odds divided by (the american odds plus 100), multiplied by 100 to give a percentage e.g. Decimal - 1 divided by (the percentage divided by 100) e.g. a probability of 50% = 1 / (50 / 100) = 2.

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There are 3 methods of stating odds that most bookmakers and websites support. Implied Probability is also useful when evaluating a bet or checking how likely an outcome is. Used primarily in the UK and Ireland, fractions quote the potential profit should the bet succeed relative to the stake. For example, if £5 is bet at odds of 2/1 the potential profit is £10 (£5 * 2) and the total returned is £15 (£10 plus the £5 stake). Decimals quote the potential return should the bet succeed relative to the stake. Fraction - (1 divided by (the percentage divided by 100)) minus 1 e.g. a probability of 25% = (1 / (25 / 100)) - 1 = 3 = 3/1. American: Positive odds - (100 divided by (the percentage divided by 100)) minus 100 e.g.

The best betting odds strategies

Fractional odds, while potentially more complex, provide a direct sense of the profit relative to the stake, which can be more intuitive for assessing risk and reward in certain betting communities. Understanding the odds is crucial when betting on sports for several reasons, including risk management. Different odds can represent the same probability but in a different format. Understanding these formats helps bettors manage their risk more effectively. It allows them to accurately calculate potential returns and losses, which is key to maintaining a sustainable betting strategy.

Fractional Odds: The UK and Horse Racing

Comparing odds for assessing probability and value can be beneficial, too. Odds represent the probability of an event occurring and the potential return on a bet. Understanding how to interpret these odds is essential for assessing whether a bet offers good value. This means comparing the likelihood of an event (as you perceive it) with the implied probability of the odds. Decimal odds are one of the simplest ways to understand betting odds. a probability of 10% = (100 / (10 / 100)) - 100 = 900.Negative odds - The probability divided by (1 minus (the probability divided by 100)) then multiply by -1 to convert into a negative e.g. a probability of 60% = (60 / (1 - (60/100))) * -1 = -150.

How to calculate Implied Probability from Fractional Odds

You should use our odds calculator when your preferred odds format isn’t offered by your go-to sportsbook. You’ll also be able to quickly see the implied probability of the odds you calculate so you fully understand how likely your sportsbook thinks a bet outcome will occur. You can take the converted odds or the implied probability from this calculator to use with our others to get fast results. Our odds calculator is 100% accurate if you use it correctly. An odds conversion table is a handy tool that simplifies understanding different odds formats—fractional and decimal—along with their implied probabilities.

Price Converter

While fractional odds are steeped in UK betting traditions, decimal odds, preferred in many other regions, offer a clearer view of potential returns. Grasping these odds is essential for effective risk management and making informed betting decisions. An odds conversion table is a useful piece of formatted data that provides information about a list of the common odds and what they equate to in both the fractional and decimal formats, as well as their implied probability. Of course, on most bookmakers and exchanges, you can change the odds displayed in your account settings, but using an odds conversion table like this one at OddsMonkey will save you a lot of time, especially if you want to swap between the two formats frequently. The table’s main use is to help you understand the difference between Fractional odds, Decimal odds, and the implied probability of whatever odds your chosen bookmaker is offering. Positive odds - (100 divided by (the percentage divided by 100)) minus 100 e.g.

How to use our Odds Converter

You can use our odds converter to do the calculations manually without having to look at the graph at the bottom of this page. However, finding out the implied probability is also very useful. The existence of various odds formats, such as decimal and fractional, stems from historical and regional preferences, along with a few other reasons. Fractional odds have deep roots in the UK and Ireland within horse racing and are part of the traditional betting culture. In Europe, Canada, and Australia, the decimal odds are regionally preferred.

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These regional preferences have been shaped through years of history. The ease of understanding is also a huge factor. Decimal odds are generally considered more straightforward, especially for beginners. They clearly show the total amount that will be returned on a winning bet for each unit staked, including the original bet. This simplicity in understanding and calculating potential returns makes them popular, where ease of use is a priority. a probability of 10% = (100 / (10 / 100)) - 100 = 900. Negative odds - The probability divided by (1 minus (the probability divided by 100)) then multiply by -1 to convert into a negative e.g. Positive odds - 1 plus (the american odds divided by 100) e.g.