What is an Odds Converter?
An odds converter is a tool that you can use to convert one type of odds into another, usually just by typing in the odds that you’re trying to decipher and then pressing the button to convert. You can use an odds converter if you read odds formats that you’re unfamiliar with and want to translate them into a format that you understand.
Odds converters have become essential tools for many bettors. As it stands, websites and bookmakers around the world tend to default to one of three odds formats: fractional, decimal, or money line odds (American). The Paddy Power News odds converter offers you a quick and easy way to read any kind of odds. All that you need to do is input the odds that you read into its relevant box. Then, the PP odds converter will automatically convert it into all of the other main types of odds.
How does the Odds Converter Work?
The odds converter works by taking any odds in a given format, calculating its implied probability, and then translating that common value into the other odds formats. Implied probability is the core reference point between all kinds of odds. So, an odds converter can take any odds type and turn it into another type by first referring back to implied probability.
As an example of how to convert fractional odds to decimal, you can start with the fairly standard 2/1 odds. Putting these odds into the odds converter will bring the calculation to a probability percentage of 33.33 per cent. This implied probability translates to 3.00 in decimal odds, which is shown by the odds converter.
Without an odds converter, you can still convert decimal odds to fractional odds and vice versa quite easily. For fractional odds into decimal odds, you simply divide the first number of the fraction by the second and then add one to the number. To convert decimal odds into fractional, you’ll need to do a bit more maths.
Let’s say you want to converting odds of 2.25:
- Add the same number to the original number to get 4.50;
- Repeat until you get a whole numger;
- This would be 2.25 + 2.25 + 2.25 + 2.25 to get to 9.00;
- As the sum required the original 2.25 to be multiplied four times, you subtract four from 9.00;
- With the result of the sum being 5.00, you add the multiplier number to the back of this to form the fraction;
- Doing this gives you fractional odds of 5/4 from decimal odds of 2.25.
Of course, with the Paddy Power odds converter, you don’t need to run these sums. You can much more easily convert any odds you want with our useful and quick tool.
How to Use the Odds Converter
The Paddy Power Odds Converter, just like our Bet Calculator is very simple to use. All that you need to do is input the odds that you need converting into the relevant box – such as +400 odds into the American odds box – and then read the results of the other boxes. Our odds converter works automatically and in an instant, so you can quickly get the odds that you need.
Here’s an example of how to use the odds converter:
- You have odds of +130 that you need to convert;
- Open the Paddy Power odds converter page;
- Type the odds (+130) into the box that currently represents its odds type – in this case, American;
- Look to the decimal odds or fractional odds boxes to instantly see the converted odds;
- In this case, the boxes will read +130 American, 2.30 decimal, and 13/10 fractional.