Bookies from all over the world use various odds formats and this can be quite confusing. America and Canada utilize Odds, also called Moneyline Odds. In Europe most countries utilize Decimal Odds, also called European Odds, except for the UK which uses Fractional Odds. There are chances formats; the majors being Hong Kong Odds, Indonesian Odds and Malay Odds. The good news is that regardless of what the chances format staked remains the same. I’ll explain more, but note: using the odds converter into the left it is easy to convert one set of odds to all other formats.
What’s Implied Probability?
Implied Probability is a bet should win to break even over the long haul. When gambling at money, if we win half of our stakes and loses half of our stakes we had web even. Therefore the suggested probability at money is 50%. If a bookie was giving us 2-to-1 and we shed twice and win once we are even. So at 2-to-1 the implied probability is 33.33 percent. This is the most important basic concept in sports. All wagers possess an implied probability. A smart player calculates the likelihood a team is going to win (actual probability), then examines the implied probability provided by the bookmaker. In case the implied probability the bookmaker is offering is less than his calculated actual probability he stakes, or even he does not bet.
Obviously it’s possible to use our odds converter on this page to calculate the implied probability for any group of odds. However, when not needing this page accessible it’s helpful to know the formula. Where yield is stake + triumph that formula is risk/return = implied probability. For instance betting $100 in 1/2 (American Opportunities: -200, Decimal Odds: 1.50) you are risk $100 to win $50. In this case the yield on a win is $150 (your $100 stake + $50 win), and the indicated odds is $100 Stake / $150 Yield = 66.66%.

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