Betting Odds Calculator
Odds formats basics
The only thing that is important for the vast majority of punters when placing a bet is how much the bet will return if it wins. It’s what adds the extra excitement to the particular sport you are watching. Well the bookies are smart enough to know this also and that’s why as soon as you look at any sporting event in their shop or on their website you’ll always see it accompanied with odds. These odds are what bookmakers use to relay to the punter how much they will win.
How to use the odds converter
- Enter the odds in the relevant field you would like to convert
- Our odds converter will then convert into all other formats
- The underlying system on the Smarkets exchange matches bets between users in percentage prices. The available nearest price you can bet on will be displayed in the Smarkets nearest tick section.
Bookmakers around the world display the odds they are offering differently. This is due to the fact sports betting didn’t evolve from one region and spread around the world but is in fact a very basic human behaviour and therefore evolved separately around the world. With the advancements in internet betting these different regional betting odds are now available to everyone but for anyone who is use to one odds display the new displays will seem very confusing.
Our odds converter calculator is there to help take away that confusion. Although the odds formats are all very different they all equate to the same monetary returns and can therefore be converted to your favoured odds format using a basic equation.
Most odds formats are given a descriptive name based on the region they are most popular. You have UK odds (fractional odds), European odds (decimal odds), American odds (moneyline odds), Hong Kong odds, Indonesian odds and Malaysian odds. In their purest form these are all just representations of the probability an event has of occurring and the amount of money returned if you decide to bet on it.
With all these different odds formats now coming under the one roof that is the internet, one format is fast becoming the favoured format, and that’s the decimal odds format. This is because it is the easiest for the average sports betting enthusiast to work out any potential winnings and as we have already said, the only thing that is important for the vast majority of punters when placing a bet is how much the bet will return if it wins.