Odds Converter Table of Contents What Are Fractional Betting Odds?What Are Decimal Betting Odds?What Are American Betting Odds?What is Implied Probability When It Comes to Betting Odds?What Does a Value Bet Mean? This is the all new odds convertor page where we will list the different types of betting odds. We like to provide readers with all the valuable tools so that they can make the most from their betting experience. Having an odds convertor means that you can convert prices about your betting selections. Whether they are in fractional, decimal or American odds. What Are Fractional Betting Odds? Fractional betting odds are a way of looking at bookmaker prices, most commonly found in the UK. You might typically find fractional odds if you went to a racecourse and they are usually easy to understand. For example, you might have a horse at 10/1 and that means you would make a £10 profit if you bet £1 on the selection, meaning a total return of £11. Learn more about our horse accumulator tips with our free guide. If a football team were priced at 2/1 to win their match, you could make a potential profit of £20 if you staked £10 on this side. Other football betting resources are available to read such as the over 2.5 goals strategy from WhatAcca.com. The bigger the fractional odds means the lower implied probability about the selection winning. However, you should always bear in mind that these are bookmaker prices and that the favourites don’t always win. Its also recommended to look at betting sites with cash out options available for your betting choices. What Are Decimal Betting Odds? Decimal betting odds are becoming increasingly common and are usually easier to understand than their fractional counterparts. While a fractional odds of 10/3 might confuse some customers, it’s often easier to see how 4.33 works as a decimal price and these are essentially the same thing. One of the best way to consider decimal betting prices is that the total return is included in the price. A horse trading at 10/1 in fractional terms would be 11.00 in decimal terms. As the latter takes into account that a winning £1 bet would result in £11 return overall. Decimal betting odds are particularly handy when you are comparing betting prices at the leading sports and football betting sites. It’s not always easy for the hardened punter to understand which is bigger out of 8/11 or 5/6. Although the decimal equivalents make things easier. What Are American Betting Odds? American betting odds are naturally used by a North American audience. And that includes the United States of America and Canada. The first port of call is that anything that is trading at odds-on to win will be a minus figure.That means that if the potential profit is less than your stake, then you will see a minus figure. A selection at 1/2 in fractional terms and 1.50 in decimal terms is regarded as -200 in American odds.All this means is that in order to win $100, you would need to stake $200. And therefore have a loss of $200 before the selection is settled. Just think about how you are going to win $100 when you consider American odds. If you are betting on a selection commonly known as evens or 2.0, then this is regarded as +100 by the bookmaker. This is because anything at 2.0 or bigger will have a plus sign in front of the odds. But it still means that you need to bet $100 in order to win $100. Why not check out our resources below, which detail how to open bookmaker accounts. This includes the insider knowledge on the best deals available. Learn more about The differences between probability and odds on the Boston University website. How to Open a Bet365 Bookmaker AccountHow to Open a William Hill Bookmaker AccountHow to Open a Betfred Bookmaker AccountHow to Open a Paddy Power Bookmaker Account What is Implied Probability When It Comes to Betting Odds? You can see that we have four columns when it comes to our Odds Conversion Table. Along with fractional, decimal and American odds, there is also implied probability. Bear in mind that this is the probability that has been implied by a bookmaker website. And isn’t the exact probability that a selection will win. One example is if a betting selection that has odds of evens, 2.0 or +100 has an implied probability of 50% that it wins. Bear in mind that there is a bookmaker margin built into betting odds. So if they are prepared to price the selection at evens, they probably regard it as having a 48% chance of winning. A betting selection at 1/2 or 1.50 is regarded as having a 66.6% chance of winning in terms of implied probability. Indeed, if you want something that has a 75% chance of triumphing. Then 1/3 is the betting odds for that particular need although these odds aren’t for the faint-hearted. Naturally, as soon as you start betting “odds-against”, then you have an implied probability lower than 50% straight away. This starts with a selection that is priced at 21/20 which has a probability of 48.8% and then drops as the price gets bigger. Other bets are also worth considering such as the each way accumulator bet.Betting on a selection at 2/1 means that you have an implied probability of 33.3%. While a 10/1 shot has a 9.1% chance of winning. That is certainly something when it comes to accumulator tips and bets where the odds are all combined together. Read our political betting websites guides or learn more about darts in play betting! What Does a Value Bet Mean? A value bet is essentially where a customer thinks that the actual probability of a betting selection winning is bigger than the implied probability. Returning to the example of even money betting odds, this has an obvious 50% implied probability of winning. However, if you think that the evens (2.0) betting selection has a bigger than 50% chance if winning. Then you might refer to it as a value bet. This is very much a subjective concept and often comes down to how a customer perceives a sporting event and a particular market. We have produced some great reading materials such as the inplay tips guide and our in play betting strategy tips. So when customers talk about “getting the value”, it generally means that they have got a big price about a selection that they think will end up being a shorter price. Sometimes this happens in horse racing where a punter will back a horse at a price with the expectation that the odds will shorten closer to the off. Learn more about horse racing betting sites with our free guide. There is no accurate way of knowing what represents a value bet. And beauty is very much in the eye of the beholder. However, punters that take a stats-based approach can often generate a positive outcome. By regularly placing bets on selections which are perceived as value. Bear in mind that many successful customers still lose with the majority of their sports free bets. However, if they bet at bigger odds on a consistent basis, they can still come away with an overall profit. Try learning something different today, such as how to bet on the Grand National or learn what bet builder tips consists of.