How do you convert odds to percentages?
Decimal odds are a simple reflection of the return you will receive for each single unit placed.
Decimal – 1 divided by the decimal odds, multiplied by 100 to give a percentage e.g. decimal odds of 2 = (1/2) * 100 = 50%.
Fraction – 1 divided by (the fractional odds plus 1), multiplied by 100 to give a percentage. e.g. fractional odds of 3/1 = (1 / ((3/1) + 1)) * 100 = 25%.
- American:
Positive odds – 100 divided by (the american odds plus 100), multiplied by 100 to give a percentage (example) 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 (example) american odds of -300 = (300/(300+100)) * 100 = 75%.
Other example:
For underdogs, converting odds to percentages is simple: the odds themselves constitute a percentage of profit. So in the example above, the percentage is 585%. Because you bet $100 and make a profit of $585, the percentage of the total return is actually 685%.
For favorites, all you have to do is: divide 10,000 by the number associated with them, and get the percentage you are looking for.
In the example above, the result will be 10,000/760 = 13,15%. This will be your profit. Therefore, in total, you will get 113.15% of the bet amount.
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