However 29/1 is not used in betting markets, instead 30/1 is used, so that is what appears in this converter.įor an explanation of the odds types on this table see decimal, fractional and American odds. To find out what the numbers really represent see understand odds as probability with overround. We use the closet fraction that is used in betting markets.įor example, the exact mathematical equivalent of decimal odds 30 is fractional odds 29/1.
If the horse runs 100 races and wins 50, the probability of winning is 50/100 0.50 or 50, and the odds of winning are 50/50 1 (even odds).
The set does not include exact mathematical equivalents to all possible decimal and American odds. If the horse runs 100 races and wins 5 and loses the other 95 times, the probability of winning is 0.05 or 5, and the odds of the horse winning are 5/95 0.0526. By convention only a set of fractions are used in fractional odds betting markets.
