For those people who have been betting for a while, you probably already have a favoured odds format. People from the UK older than 35 are generally familiar with fractional whilst most younger people seem to prefer decimal and as you would think, people from America prefer moneyline odds. However it can be very useful to know how to convert one format to another when looking for hedging opportunities.
To convert fractional to decimal odds their is a simple calculation. You just divide the numerator by the denominator and add one to the total. For example if we had 5/2 and we wanted this as decimal, this would be:
Decimal Odds = Fraction + 1
Decimal Odds = (5/2) + 1 = 2.5 + 1 = 3.50
Given the obvious relationship between fractional and decimal odds, it is obvious that the reverse operation would return fractional from decimal. So if we subtract 1 from the decimal odds and find the lowest possible integer values that multiply together we get our fractions. Traditional fractional odds do have a ladder that is normally represented so may need some additional knowledge here but not much. If we reverse engineer our previous example we will see that
Fractional Odds = (Decimal Odds – 1) expressed as integer values
Fractional Odds = (3.5 – 1) = 2.5 = 5/2
As we saw in a previous post, manipulating American odds is slightly more challenging as they are presented in two different states; Positive and negative. However, once again these calculations are not difficult and require little extra effort to convert. To convert American odds when positive to fractional we divide the moneyline by 100. This will give us our fractional value that then needs to be represented as such. To convert this to decimal, simply add 1.
Fractional Odds = American Odds/100
Fractional Odds = +250/100 = 2.5 = 5/2
To convert into fractional when negative, we simply divide 100 by the odds amount (ignoring the sign). For this we will use -400 as an example;
Fractional Odds = 100/American Odds
Fractional Odds = 100/400 = 1.25 = 1/4
This information should make it easier to compare odds across various bookmakers to get the best prices or create hedging opportunities. Happy Hunting!