How do you convert odds to percentage?

To convert positive odds into percentages, divide 100 by the odds + 100, and multiply the result by 100. For odds of 300, you divide 100 by 400 to get 0.25 and multiply that by 100 to get 25%. For negative odds, you divide the odds by the odds +100 and multiply by 100.

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So how do betting odds work? Odds are ratios of your chances of losing against your chances of winning. They can be expressed as fractions, decimals, or moneyline odds (American odds). The fractional odds for a coin toss are 1/1, which means you have the same chance of winning as you do of losing. That’s simple enough, but things can get complicated quite quickly. Let’s take a simple example. If you own 1 of 4 tickets, you have a 1 in 4 chance to win, but your odds are 3/1. How sure would you feel about betting on a horse with odds of 4:3? What about a horse with odds of 1/3? It isn’t obvious that the probability of this bet succeeding is 75%. It’s even less obvious when you’re working with American odds and decimal odds. Odds of 1/3 convert to American odds of -300. That means you have to put down $300 to win $100. This shows that our hypothetical horse is a favorite, but it’s not much help if you’re trying to work out the actual percentage probability of a win.

How to convert fractional odds

If you’re looking to work with percentages instead of odds, the good news is that it’s easy to convert from one to another. All you need to do is apply a mathematical formula. It’s simple enough to do on a calculator. Here’s how to convert fractional odds to figure out the probability of a win. First, add the numbers on each side of the fraction together. Divide 1 by the result and multiply by 100. Let’s do that with odds of 3/1. Add 3 + 1 to get 4. Divide 1 by 4 to get 0.25. Multiply 0.25 by 100 to get 25. The probability of a win is 25%.

How to convert American odds

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What does 9-5 odds pay?

The odds and what they mean Odds Payoff range 7-5 $4.80-$4.90 3-2 $5.00-$5.10 8-5 $5.20-$5.50 9-5 $5.60-$5.90 22 more rows

info.nassauotb.com - The odds and what they mean - Nassau OTB

Beginner's Corner

The odds and what they mean

The odds represent the publics opinion of each horse's chances of winning a race, based on how they actually bet. A horse's odds reflect how much has been bet on it to win the race. Horses that are given a better chance of winning (favorites) will pay off less than the horses that are not expected to run well (longshots). Odds in the newspaper or track program reflect a horse's morning line odds. Morning line odds are set by oddsmakers and handicappers before the betting actually begins, and are meant to represent the best estimation of what a horse's odds will actually be. Actual odds are posted before each race, and can change constantly until the race begins. The current odds are always posted on television and computer screens and on the racetrack tote board leading up to a race. The posted odds are based on win wagers only. All posted win prices are posted to reflect winnings for each $2 bet. If you are confused by the odds and are never sure what your horse is going to pay if it wins, it is easy to calculate the approximate payoffs by doubling the odds and then adding in the cost of a $2 wager. For example: If the odds are 4-1, a $2 win bet would pay $10 (4 x $2 = $8 + $2 = $10).

When in doubt, you can always consult the following table:

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