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For example, the 4-to-1 fractional odds shown above is the same as 5 in decimal odds, while 1-to-4 would be quoted as 1.25. The method for converting moneyline to decimal odds depends on whether the moneyline value is positive or negative. If the moneyline is positive, it is divided by 100 and add 1.
Odds for different outcomes in single bet are presented either in European format (decimal odds), UK format (fractional odds), or American format (money line odds). European format (decimal odds) are used in continental Europe, Canada, and Australia. They are the ratio of the full payout to the stake, in a decimal format. Decimal odds of 2.00 ...
Decimal odds are favoured by betting exchanges because they are the easiest to work with for trading, as they reflect the inverse of the probability of an outcome. [13] For example, a quoted odds of 5.00 equals to a probability of 1 / 5.00, that is 0.20 or 20%. Decimal odds are also known as European odds, digital odds or continental odds. [9]
For example, a bet of £40 at 6 − 4 (fractional odds) will pay out £40 + £60 = £100. The equivalent decimal odds are 2.5; £40 × 2.5 = £100. We can convert fractional to decimal odds by the formula D = (b + a) ⁄ b. Hence, fractional odds of a − 1 (ie. b = 1) can be obtained from decimal odds by a = D − 1.
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The values given for Probability, Cumulative probability, and Odds are rounded off for simplicity; the Distinct hands and Frequency values are exact. The nCr function on most scientific calculators can be used to calculate hand frequencies; entering nCr with 52 and 5 , for example, yields ( 52 5 ) = 2 , 598 , 960 {\textstyle {52 \choose 5 ...