Knowing how to convert betting odds can be very helpful. In fact, in case you don’t know how to convert betting odds into their respective implied probabilities, you are not helping your chances of coming as a long-term winner in the competitive world of sport betting. Knowing the implied probability behind the chances on offer is critical to assessing the possible value in a certain betting market. And it is at least as important when assessing the value which exists with regards to specific odds on a certain outcome. In case the implied chance is significantly less than your own assessed probability of a specific outcome occurring, that result represents a worth betting opportunity.
Odds, also known as’chances’ are possibly the most foreign odds format . And first they appear somewhat confusing. Nonetheless, it is helpful to understand these chances represent particularly when listening to Americans speaking about gambling odds in sports podcasts or broadcasts. So, let’s see how we could convert odds into their probabilities.
There are two cases of odds.
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