Back to guides2.00 = 50% probability 1.50 = 66.67% probability 3.00 = 33.33% probability
1/2 = 1.50 odds 2/1 = 3.00 odds 5/4 = 2.25 odds
Real odds vs offered odds How to identify low margins Comparison between operators
Probability calculators Odds comparators Analysis software
Beginners
7 min read
1/18/2025
How Odds and Probabilities Work
Learn how to interpret odds, calculate probabilities and identify value in betting.
by Giuseppe Verdi
Odds are the heart of sports betting. Understanding how they work is essential to becoming a successful bettor.
Types of Odds
Decimal Odds
Most used in Europe, easy to interpret:
Fractional Odds
Traditional in the UK:
Probability Calculation
Formula
Formula: Probability = 1 / Decimal odds × 100
Example with 2.50 odds:
Formula
Probability = 1 / 2.50 × 100 = 40%
Bookmaker Margin
Bookmakers apply a margin to odds:
Finding Value
A bet has value when:
Real probability > Implied probability
Useful Tools
🛠️ Professional Tools
Use specialized software for odds analysis, value betting calculators and bankroll management tools to optimize your performance.
Conclusion
Understanding odds is fundamental to successful betting. Practice with these concepts and use available tools to improve your skills.
Topics covered:oddsprobabilitiesmathematics
Tags:oddsprobabilitiesmathematics