When turning fractional odds to percentage in order to calculate profitability, the general rule is to determine how many dollars you get for each dollar you wagered and then multiply that with 100.
#ODDS TO PERCENTAGES HOW TO#
Just like with decimal odds, you’ll want to know how to convert odds to percentage and how to convert odds to probability.
The total amount you get back is actually $6 (your profit the dollar you wagered). So in the first example (5/1), you make $5 for every $1 you wager. Their general form is x/y, which means this: you make a profit of x dollars for every y dollars you wager. Fractional Oddsįractional odds look like this: 5/1, 8/1, 2/1 and so on. Ultimately, you shouldn’t be worried about what the bookmaker is telling you and simply assess the situation yourself, using your own esports knowledge and seeking bets that give you good risk/reward ratios. These are the situations in which you can make a lot of money. In fact, sometimes you will find the real favorite regarded as the underdog, simply because the bookmaker doesn’t understand what’s going on. Of course, all of this is true in the bookmaker’s assessment. If a team’s odds of winning are 5.00, their estimated chance of winning is 20%. The general formula for turning decimal odds to probability is this: 100/odds. If you want to find out the win probability of a given bet in the bookmaker’s assessment, just do it this way: 2.00 is exactly 50%. So you always have to decrease your initial amount or 100% in order to find what you’re actually making. So it’s not 180% profit but 180% returns. Of course, these percentages include the amount you’ve wagered. So instead of 1.80, think of this as 180%. Decimal Odds to PercentageĪnother way of understanding decimal odds is using percentages. Two things you’ll want to know here is how to convert odds to percentage and how to convert odds to probability.
If you wager $20 on a team whose odds are 4.00, the amount you get in case of a win will be 20 * 4.00 = $80. So if you bet $5 that team A will win the match and team A’s odds of winning are 1.80, you get a return of 5 * 1.80 = $9. The meaning of these odds is very simple: your total returns are whatever the odds show you multiplied by the amount you wagered. Decimal Oddsĭecimal odds are called decimal because they come in decimal form.Įxamples include: 1.80, 2.40, 4.00 and so on. The three main types of esports betting odds are the following: 1. In this article I will take you through the basics so that you may fully understand what the various esports betting sites are showing you. With esports betting becoming more and more popular, it’s good to know about the different types of esports odds.
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