1. What is Implied Probability?

Implied probability represents the conversion of betting odds into a percentage that shows the likelihood of an outcome occurring according to the odds. It accounts for the bookmaker's margin.

2. How Does the Calculator Work?

The calculator uses the implied probability formula:

Where:

• Decimal Odds — The odds in decimal format (e.g., 2.50 for 6/4 fractional odds)

Explanation: The formula converts the decimal odds into a percentage chance of that outcome occurring.

3. Importance of Implied Probability

Details: Understanding implied probability helps bettors assess whether a bet offers value by comparing it to their own assessment of the true probability.

4. Using the Calculator

Tips: Enter the decimal odds (must be 1.01 or higher). The calculator will show the implied probability percentage.

5. Frequently Asked Questions (FAQ)

Q1: What's the difference between decimal and fractional odds?
A: Decimal odds represent total return per unit staked (2.5 means you get 2.5x your stake back), while fractional odds show profit relative to stake (6/4 means you profit 6 units for every 4 staked).

Q2: How does the bookmaker's margin affect implied probability?
A: The sum of implied probabilities for all outcomes will exceed 100%, with the excess representing the bookmaker's margin or "overround."

Q3: What is a "value bet"?
A: When your assessed probability of an outcome is higher than the implied probability from the odds, indicating potential positive expected value.

Q4: Why can't odds be less than 1.00 in decimal format?
A: Odds below 1.00 would mean you get back less than you stake, which would never be accepted in betting markets.

Q5: How do I convert fractional odds to decimal?
A: Divide the numerator by the denominator and add 1 (e.g., 6/4 = 1.5 + 1 = 2.5 decimal odds).