Wager Mage
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What are +240 odds?

Common Betting Odds Conversion Table Fractional American Implied Prob 2/1 200 33.33% 21/10 210 32.26% 11/5 220 31.25% 12/5 240 29.41% 16 more rows

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Multiple bets are when a gambler places several single bets into one large wager and must choose the winning outcome in each round to win the bet as a whole. A single bet is a bet made on one selection, with the opportunity to make a profit by guessing the outcome of one match. First, bettors must decide whether they want to make a single bet or multiple bet. All bettors should be able to understand the elements of a wager, and the mathematics used to determine the return on any stakes for a bet. A betting odds calculator uses the same criteria and mathematical principles a person uses – it simply streamlines the process. Let's look: Sports betting sites often adjust their implied probability statistics to give themselves an edge, otherwise they would make little profit. As a result, bettors could add 1% to their own implied probability calculations to eliminate the house advantage and determine their potential winnings more accurately. Implied probability is used frequently in sports betting odds and is found by converting decimal or fractional odds into percentages. In short, it is the chance a bookmaker believes an event will happen. A moneyline bet is more common in the USA, and is a wager made on who will win the game or event, irrespective of point spread. In summary: calculating the expected value of your bets may be the most useful sum you can make to determine whether a bookmaker is offering decent odds. To find the expected value of a bet, multiply the probability of winning by the amount you could win on the bet, and then subtract the probability of losing multiplied by the potential amount lost on each bet. Expected value is the average amount a bettor can expect to win or lose if they place the same bet on the same odds multiple times. Bettors use this value to compare bookmakers' odds and predict which one will offer the best winnings.

Want to Learn More? Visit our Odds Guide

This field displays the amount of money you will win, not including your original wager, based on the odds and stake you enter. Enter your stake, or the amount of money you wish to wager, here. Enter the number (minus the percentage sign) and click out of the box for the other odds to appear.

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Enter the odds, including the fraction sign, and then click out of the box for the other odds to appear. Enter the odds in decimal format, then click out of the box for the other odds to appear. Enter the odds, including the positive or negative sign, and then click out of the box for the other odds to appear.

How to Convert Odds

On this page you'll be able to convert your odds using our odds convertor across the three different formats, hassle-free. For sports fans that want to convert various odds across online sports betting sites or exchanges manually, whether it's American football or tennis, these are the basic formulas:

Convert Fractional Odds & Decimal Odds

You can convert fractional odds into decimal odds by dividing the numerator by the denominator, and then adding 1. E.g. ¼ + 1 = 1.25 To convert decimal odds to fractional odds, simply subtract 1 from the decimal, and then convert the remaining decimal number into a fraction. 2.5 – 1 = 1.5; 1.5 = 3/2

Converting American Odds/Moneyline Odds to Fractional & Decimal Odds

American odds are a little trickier, as they operate using positive and negative odds. To convert positive odds to a decimal, divide the odds by 100 and then add 1. E.g. (+400/100) + 1 = 5.00 Converting American odds into fractional odds is simpler. Divide the odds by 100, and then reduce it to its simplest form, e.g., 400/100 is the same as 4/1. To convert negative American odds into decimal odds, we’re going to tweak the equation. This time, we need to divide 100 by the odds, or moneyline, and then add 1. E.g. (100/400) + 1 = 1.25 As for fractional odds, we just need to divide 100 by the moneyline odd, and then reduce it to its simplest form, e.g. 100/400 is the same as ¼. Now you understand how to convert moneyline, fractional and decimal odds, check if you can place legal sports bets in your state with our gambling laws guide.

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