Implied Probability Calculator
Calculate the implied probability from betting odds - American, decimal, and fractional formats
Calculate Implied Probability
Amount won on $100 bet
Implied Probability Results
Formula Used
Implied Probability = 100 / (0 + 100) × 100
Example Calculation
Basketball Game Example
Team: Golden State Warriors vs Chicago Bulls
Bet: Warriors to win
American Odds: -150
Interpretation: Need to bet $150 to win $100
Calculation Steps
1. Identify odds type: Negative (-150)
2. Apply negative odds formula: 150 / (150 + 100)
3. Calculate: 150 / 250 = 0.6
4. Convert to percentage: 0.6 × 100 = 60%
Result: 60% implied probability Warriors win
Odds Formats Explained
American Odds
Positive: profit on $100 bet
Negative: bet needed to win $100
Examples: +150, -200
Decimal Odds
Total return per unit bet
Examples: 2.50, 1.75
Fractional Odds
Profit per unit bet
Examples: 3/2, 5/1
Betting Tips
Lower implied probability = higher payout
Bookmakers add margin to true probabilities
Compare odds across different bookmakers
Implied probability helps assess bet value
Understanding Implied Probability
What is Implied Probability?
Implied probability is the likelihood of an event occurring based on betting odds. It represents the percentage chance of an outcome as suggested by the bookmaker's odds, converted into a probability format that's easier to understand.
Why is it Important?
- •Compare the true likelihood with bookmaker's assessment
- •Identify value bets where odds may be favorable
- •Better understand risk vs. reward in betting
- •Make more informed betting decisions
Calculation Formulas
American Odds
Positive: 100 / (odds + 100) × 100
Negative: |odds| / (|odds| + 100) × 100
Decimal Odds
(1 / decimal odds) × 100
Fractional Odds
denominator / (numerator + denominator) × 100
Note: Bookmaker margins mean total implied probabilities for all outcomes usually exceed 100%.