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Use our Odds to Probability Calculator to convert your betting odds to the implied probability and see the percentage chance of winning. You can also learn more about the math of calculating implied probability from odds.
To get started, simply fill out the bet amount and odds in any one format and our calculator will show you the implied probability. If you think the chance of the bet hitting is higher than the implied probability, then it may be a good bet.
Odds to Probability Calculator
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If you want to learn more about how to read odds and calculate payouts in each odds format, check out our How to Read Betting Odds Guide.
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Here is how you can calculate implied probability from American, Fractional, and Decimal odds:
- Calculate implied probability from American Odds (Favorite): Implied Probability = -Odds / (-Odds + 100)
- Calculate implied probability from American Odds (Underdog): Implied Probability = 100 / (Odds + 100)
- Calculate implied probability from Fractional Odds: Implied Probability = Denominator of Odds / Denominator of Odds + Numerator of Odds
- Calculate implied probability from Decimal Odds: Implied Probability = 1 / Odds
As mentioned in the intro, you can use implied probability to try figuring out whether a certain market is a good bet or not. By comparing the implied probability to what you think the chance of the bet winning is, you can figure out if it's a good bet or not.
It's also important to remember that sportsbooks charge “vig” or “juice” on bets that means the implied probability is always going to be slightly higher than the true chance of winning. This is why most 50/50 bets will have odds of -110 (implied probability of 52.38%) instead of +100 (implied probability of 50%).
Still, it's possible to find value and make money with sports betting if you do your research and take the time to find markets with odds that are off. Remember, compare the implied probability to what you (or the model you're using) think the chance of winning are.
Other Betting Resources
- Betting Odds Calculator: Enter your odds and bet amount in any format and see what your payout and profit would be if it wins.
- Parlay Calculator: Calculate the payout of a parlay based on the odds of each individual leg.
- Free Bet Calculator: See how much profit you can guarantee yourself by betting the other side of a free bet.
- Hedge & Arbitrage Calculator: Find the ideal hedge bet amount and guaranteed profit based on your original odds and bet amount.
- Odds Converter: Convert between the three odds formats including American, Decimal, and Fractional.
- NFL Odds Calculator: See the projected payouts of your NFL bets.
- How to Read Betting Odds: Learn how to read odds, calculate your payout, and calculate the implied probability of your bet winning in each odds format (American, Decimal, Fractional).
- Types of Sports Bets: Learn about how each of the main types of sports bets works and find links to our full guides for each.