Easily switch between odds (e.g., 4:1) and their implied probability (20%).
Conversion Settings
Conversion Results
Implied Probability20.00%
Decimal Value0.2000
Ratio Description1
About this calculator
Overview
Probability and odds are two related but different ways to express the likelihood of an event. While probability is the ratio of favorable outcomes to all possible outcomes, odds is the ratio of favorable outcomes to unfavorable outcomes.
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Pro Tips
Odds of '1:1' are known as 'evens', representing a 50% probability.
The sum of probabilities for all outcomes in an exhaustive set always equals 1 (or 100%).
When converting fractional odds (A/B) to probability, the formula is B / (A + B).
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Fun Facts
"In gambling, true odds of 4:1 mean for every 1 win, there are exactly 4 losses."
"Bookmakers often adjust 'implied' probability to include a margin (vigorish or juice)."
"The phrase '1 in a million' usually refers to probability, but if it were odds, the winning chance is slightly less."
