If you plan to start a betting career on some of the best betting sites in the UK, begin by understanding betting odds. In more ways than one, this step is a prerequisite for a successful betting session. However, betting sites worldwide are not on the same page regarding betting odds formats. Some put more faith in fractional than decimal odds, while others have eyes only for moneyline odds. If you wonder how to convert fractional odds to decimal and vice versa, you should continue reading our guide.
Eight Quick Facts About Betting Odds
- Betting odds reflect winning chances and measure the likelihood of an outcome.
- The primary formats of betting odds are decimal, fractional, and moneyline.
- Decimal odds are the most straightforward and used mainly by European bookies.
- Fractional odds dominate the UK betting scene, especially the horse racing community.
- Moneyline odds are used mainly in the United States.
- Betting markets can have fixed or fluctuating betting odds.
- Punters can use various odds conversion tools to switch from one format to another.
- Most new betting sites allow for an effortless transition between the odds formats.
Before converting fractional to decimal odds, we should learn what they are and how you can recognise those formats. After that, we’ll move on to more practical elements of betting on the best UK betting sites and focus on odds conversion.
It all starts by learning that odds reflect your winning chances. The concept of “implied probability” helps bookmakers determine the odds, allowing you to place wagers for or against those prices. Low-value odds represent a high likelihood of an outcome, while high odds show that something is unlikely to happen.
Nowadays, bookmakers use three primary formats for representing the odds — fractional, decimal, and moneyline. We’ll show you how to work out fractional odds to decimal, but we’ll also mention many other aspects of betting odds.
What Are Fractional Odds?
As the name implies, fractional odds look like a fraction, in the sense that they come with two numbers separated by a slash. For example, you could see something like 1/10 or 5/2 odds on the best horse racing sites in the UK. So, what do those numbers mean?
In essence, the formula for fractional odds includes two elements — how much you can win and your stake. For instance, 10/1 odds show you can win £10 if your stake is £1. With fractional odds, the stake is not included in the winnings. Thus, the profits on 10/1 odds with a £1 stake are £10, and you’ll get your investment back.
What Are Decimal Odds?
Like the previous format, decimal odds reflect the winning chances and allow you to calculate potential returns. Yet, the decimal format offers more straightforward calculations than fractional odds.
To be precise, you only need to multiply the price with the stake. For instance, the returns on 2.00 odds on a £5 stake would be £10 (2.00 x 5 = 10). And there you have it, all there is to know for answering the big question — How do decimal odds work? This effortless formula makes decimal odds much easier to understand than fractional odds.
We should also mention that decimal odds include your stake in the returns. Therefore, the returns with 2.00 odds on a £5 stake would be £10, including your £5 investment. Nevertheless, the popularity of decimal odds is on the rise, with more and more punters opting for this type.
How To Convert Fractional to Decimal Odds?
Now that you know more about the basics of the formats, we should discuss the actual conversion between fractional and decimal prices. Of course, punters should know that different representations still express the same monetary returns. In other words, the value is universal, no matter which format you prefer.
For example, bookmakers can express the so-called even odds as 1/1, 2.0, or 100. Each of these numbers has the same monetary value; they result in equal profits, doubling your stake.
Thus, converting the odds, fractional to decimal or vice versa, will not affect the profits you make at the end of the day. So why do punters change the format and convert the odds? In short, the answer hides in the convenience of decimal odds and the effortless calculations.
After all, fractional odds can become complex, especially when the selections come with the so-called odds-on. Bookmakers offer these prices on strong favourites, and you might see odds of 10/1 on Chelsea when they meet a club from the fourth division in the FA Cup.
So, how to transition from fractional odds to decimal? The process takes only a couple of steps. Namely, take the first number and divide it by the second. After that, add 1.00 to get a decimal figure. And that’s it.
For example, the steps in converting 4/1 odds would go like this: 4 ÷ 1 = 4 + 1.00 = 5.00. Thus, a £10 stake will provide £50 in total returns, with £40 in clear profits.
If the fractional format seems complex, convert odds to decimal by applying the following formula:
(numerator ÷ denominator) + 1.00
As we already said, decimal odds eliminate these steps, allowing you to multiply the stake with the number displayed next to the betting market. Plus, new betting sites come with interactive bet slips, which will do all the math for you. Nevertheless, you still have to find the most favourable odds and choose the best betting options.
Conclusion: How to Convert Odds
Although odds conversion tools are at your disposal on most betting sites, it doesn’t hurt knowing the intricacies of the process. By having a deep understanding of how conversion works, you can easily switch between the formats.
Fractional and decimal odds dominate the betting sites in the UK and Europe, but the same goes for many other areas. Once you master the art of converting from one format to another, you’ll be one step closer to becoming a highly successful punter. Of course, you can revisit this guide if you ever forget how to convert fractional odds to decimal.