Understanding Betting Odds

What is probability? Think of flipping a coin - there's a 50% chance it lands on heads and a 50% chance it lands on tails. That's probability! It's just the likelihood that something will happen, shown as a percentage.

What are betting odds? Betting odds are another way of showing probability. Sportsbooks use odds to show how likely they think each team is to win. The tricky part is that there are different ways to write odds, and they can look confusing at first. That's where this calculator helps!

American Odds: These use positive and negative numbers. Negative numbers (like -110) mean the team is a favorite - they're expected to win. Positive numbers (like +200) mean the team is an underdog - they're less likely to win. The bigger the number, the more extreme the prediction!

Decimal/European Odds: These are simpler - they're just numbers like 2.00, 1.50, or 3.00. Lower numbers mean more likely to win. Higher numbers mean less likely to win. Many people find these easier to understand than American odds!

Why this matters: Understanding the real probability behind betting odds helps you make smarter decisions. Our calculator instantly translates between odds formats and probabilities so you always know what the numbers really mean!