Odds 200 To 1
- Fractional odds of 1/2 and 2/1 are the equivalents of US odds of -200 and +200, respectively. Using fractional-style odds, an even odds bet would be quoted as 1/1.
- Odds of 1/1 are known as evens or even money. Not all fractional odds are traditionally read using the lowest common denominator. Perhaps most unusual is that odds of 10:3 are read as 'one-hundred-to-thirty'. Fractional odds are also known as British odds, UK odds, or, in that country, traditional odds.
- Odds of 2/1 (the way to say is “two to one”, or less commonly “two to one against”) imply that the bettor would have £200 profit on a £100 stake. If the odd is 1/2 (“one to two”, or “two to one on”), the bettor would have £50 profit on a £100 stake. Odds of 1/1 are also known as evens or even money.
Using the +120 odds, it shows us that a $100 bet on that outcome would pay out $120 in profits. Again this can easily be converted into smaller or larger size bets. A $10 bet on +120 odds would pay out $12 in profits. Examples: Below is an example of NFL betting odds taken from an online betting site. These are the funny-looking odds – like 9/5 or 1/2 – that you see when you flip on the Kentucky Derby. These are the funny-looking odds—like 9/5 or 1/2—that you see when you flip on the Kentucky Derby. Pro tip: if you want to say fractional odds aloud, like 9/5 or 1/2, you would say “nine to five” or “one to two.”.
Calculator Use
Convert stated odds to a decimal value of probability and a percentage value of winning and losing. This calculator will convert 'odds for winning' an event or 'odds against winning' an event into percentage chances of both winning and losing.
Be careful if you are using sports teams odds or betting odds. If you see that the Patriots super bowl odds are 9/2, that is most likely 'odds against' and should be entered in the calculator with 'Odds are: against winning.'
When playing a lottery or other games of chance be sure you understand the odds or probability that is reported by the game organizer. A 1 in 500 chance of winning, or probability of winning, is entered into this calculator as '1 to 500 Odds are for winning'. You may also see odds reported simply as chance of winning as 500:1. This most likely means '500 to 1 Odds are against winning' which is exactly the same as '1 to 500 Odds are for winning.'
Probability Formulas:
100 To 1 Odds Payout
This calculator will convert 'odds of winning' for an event into a probability percentage chance of success.
Odds 500 To 1
Odds, are given as (chances for success) : (chances against success) or vice versa.
If odds are stated as an A to B chance of winning then the probability of winning is given as PW = A / (A + B) while the probability of losing is given as PL = B / (A + B).
For example, you win a game if you pull an ace out of a full deck of 52 cards. Pulling any other card you lose. The chance of winning is 4 out of 52, while the chance against winning is 48 out of 52 (52-4=48). Entering A=4 and B=48 into the calculator as 4:48 odds are for winning you get
For 4 to 48 odds for winning;
Probability of:
Winning = (0.0769) or 7.6923%
Losing = (0.9231) or 92.3077%
'Odds for' winning: 1:12 (reduced from 4:48)
'Odds against' winning: 12:1 (reduced from 48:4)