Try the Odds Converter Calculator for Online Sports Betting BMR (16/01/2026)

2/7 is an odds against price, meaning there is quite a high probability of winning according to the bookmaker and if ti wins you are going to make a much smaller profit. However decimal odds are becoming more popular with new bettors as they are easier to understand for those new to the environment. With origins in horse racing, fractional odds are by far the most dominant format to express prices in the UK & Ireland. In decimal prices the returned stake in a successful bet is ‘built into’ the odds. For European bookmakers, the most common format is decimal, where probability calculator a price such as 3.00 represents the equivalent of the 2/1 fractional price.

• The odds ratio is calculated by dividing the odds of the first group by the odds in the second group.
• If you placed a £10 bet on a 6/5 selection you would get a return of £22 (£12 profit) on a winning bet.
• As an example of how to convert fractional odds to decimal, you can start with the fairly standard 2/1 odds.

For converting moneyline to decimal, when the moneyline price is positive divide it by 100 and add 1. Also, to note, sometimes you will hear prices or odds in North America referred to as ‘lines’. As you might guess from the name this format is most popular in North America. When you see prices such as 9/2, 6/5 or 2/7 it can take a bit longer to understand your returns compared to odds that are ‘to one’ (e.g., x/1).

Expected odds ratio

The odds will instantly change, with 10/1 becoming 11.0 That’s 10x your stake and the initial payment returned. Suppose you bet on Haaland to score first in the Manchester Derby at 7.0 (equal to 6/1). That’s 10x your stake as well as your original £10 back. Odds with the highest number displayed first are known as odds-against, and 10/1 could be an outsider.

Understanding Betting Odds – Probability Explained

It’s a similar story when betting on hot favourites with small odds. That price means that for every £1 spent, you’ll make a £10 profit if your bet wins. Suppose you’re considering a bet on Arsenal to win the UEFA Champions League at odds of 10/1.

Bookmakers now use complex mathematical processes called Algorithms to work out the odds for the vast majority, if not all of their betting markets. These are often available at bookmakers sites, or on standalone bet calculator sites. So odds of -154 means you would need to bet $154 to win $100 (for a total return of $254). With negative odds, the number indicated shows how much you would need to bet in order to make a profit of $100 on that bet. So in a simple example odds of 2.50 x £100, would return £250 (£150 profit, £100 stake return). Now that we know what odds mean, let’s start using them practically in a situation where you want to know the potential winnings you have on a bet.

In this post, we are going to explain a number of important things to note about odds. Our odds converter works automatically and in an instant, so you can quickly get the odds that you need. All that you need to do is input the odds that you need converting into the relevant box – such as +400 odds into the American odds box – and then read the results of the other boxes. You can much more easily convert any odds you want with our useful and quick tool. Of course, with the Paddy Power odds converter, you don’t need to run these sums. Then, the PP odds converter will automatically convert it into all of the other main types of odds.

As you can see, there is a free odds calculator on this page and it is quite intuitive so the process to use it is very straightforward. You’ll have to think long and hard about coming up with any disadvantages to using our odds calculator. Dive into English football betting with our refined betting tips.

If you’re trying to profit long-term, avoid chucking a fiver on a 21/10 shot just because it “looks good.” Casual bets drain your bankroll faster than you think. Because bets at 21/10 only win about 1 in 3 times on average, your strategy needs to survive losing runs. Betting at 21/10 can offer good returns, but only if you believe the true probability of your selection winning is higher than 32.26% (the implied probability). For smart punters, 21/10 can signal a sweet spot—the kind of price where informed betting and good judgement can turn long-term profit. In racing, 21/10 odds usually reflect a second or third favourite in the betting.