What's an odd converter and how to use?
We are here to remind you about what odds are and how you can use a converter, which is made to help you choose, with a constant view to help you and optimise your bets.
Betting is an excellent type of entertainment but it's above all a potential occasion to win money. Betting, thus, is putting an amount of money down on a chosen event, while associating odds that allow you to know what the profit will be in case it's a winning bet.
Defining odds goes hand in hand with the probability for the event you bet on to happen. Odds, and particularly their understanding, play a very important role in betting games.
Types of odds
We are now going to detail the 3 types of odds you can find in betting:
European odds or decimal odds
It is the most widespread form. It allows you to know the amount of the profit for your bet simply and quickly, and is presented as a decimal number.
In short, if you multiply European odds by the stake, the result is your profit.
You bet £200 on a game (or sport) opposing X to Y.
European odds are of 1.5 for a victory for X. The profit will therefore be: 1.5 x 200 = £300.
English or fractional odds
It allows you to define the profit of your bet as a fraction.
In case you have a stake of £200 and for the same bet English odds are 1/2 for a victory for X.
The profit will be: 200 x (1/2 + 1) = £300.
Its principal characteristic is that it can be presented in two ways: a negative form and a positive form.
We are still using the same stake: £200. The profit is therefore: 200 x (1 + 100 / 200) = £300.
Now, how do you choose between those three odds?
We invite you to discover the only solution offered to you: the odds converter (or odds calculator).
The odds converter
Converting odds becomes necessary for gamblers who are trying to better detect the different aspects of betting in order to obtain the biggest possible profit.
Therefore, converting fractional odds into decimal odds doesn't pose any problem. All you need to do is add 1 to English odds to get decimal odds.
As for the conversion of American odds into European odds, here is how you proceed:
- If the odds are negative, you convert like this: (100 / negative American odds) + 1
- It they are positive, you convert: (positive American odds / 100) + 1
In order to make your job easier, we offer you this odds converter.
As a rule, you have to admit that odds conversion, as it is subject to mathematical rules, pose a problem to gamblers, whether they are beginners or experts.
Bookmakers favour European odds, as they are a simple way to calculate your bet.