Odds Probability Calculator
Created By : Vaibhavi Kumari
Reviewed By : Rajashekhar Valipishetty
Last Updated : Mar 31, 2023
Make use of our free online & handy odds calculator and easily determine the chances of winning and losing. Simply give your A and B values as inputs and hit the calculate button to find the winning or losing probability result in a blink of an eye. You can also use win probability calculator, odds to probability calculator, odds against calculator, odds in favor calculator, chance of winning calculator, raffle odds calculator, and, percentage to odds calculator for probability solutions.
What is the meaning of odds in probability?
The probability that the event will occur divided by the probability that the event will not occur is called odds in probability theory. However, Odds are the ratio of two fractions:
- the number of events divided by the number of subjects (the probability of the event) and
- that fraction divided by the number of non-events divided by the number of subjects (the probability of the non-event).
How to Calculate the Odds Manually with Steps?
- Firstly, identify the number of favorable outcomes in a situation.
- Next, identify the number of unfavorable outcomes.
- Now, express the odds numerically (the ratio of favorable outcomes to unfavorable outcomes using a colon).
- Finally, the result of odds for winning has occurred. If you want to calculate the odds against winning. Just flip the ratio of odds in favor of winning.
Thus, we calculate the odds for winning and against winning. If you need a clear-cut process of finding the odds with our handy & free online odds calculator and enter the inputs. It will instantly calculate the odds and display the output with detailed steps.
Odds Formulas
The formulas of odds are of two types. They are Odds for winning and Odds against winning. The odds formulas in probability are as follows:
Probability of winning = chances for success / all chances
Probability of losing = chances against success / all chances
where,
all chances = chances for success + chances against success
The formula for the Odds Ratio is p / (1 - p)
Odds Conversion Table
| Fractional | Decimal | American | Implied Probability |
|---|---|---|---|
| 1/5 | 1.20 | -500 | 83.3% |
| 2/9 | 1.22 | -450 | 81.8% |
| 1/4 | 1.25 | -400 | 80% |
| 2/7 | 1.29 | -350 | 77.8% |
| 3/10 | 1.30 | -333.3 | 76.9% |
| 1/3 | 1.33 | -300 | 75% |
| 4/11 | 1.36 | -275 | 73.3% |
| 4/9 | 1.44 | -225 | 69.2% |
| 5/4 | 2.25 | 125 | 44.4% |
| 11/8 | 2.38 | 137.5 | 42,1% |
| 9/1 | 10.00 | 900 | 10% |
| 10/1 | 11.00 | 1000 | 9.1% |
| 20/1 | 21.00 | 2000 | 4.8% |
| 50/1 | 51.00 | 5000 | 2% |
| 100/1 | 101.00 | 10000 | 1% |
| 1000/1 | 1001.00 | 100000 | 0.1% |
FAQs on Betting Odds Probability Calculator with Steps
1. How do you find the odds?
You can find the odds by applying the probability of winning and probability of losing formulas or else with the help of the online Odds Calculator.
2. What is the formula to find odds from probability?
There is a simple formula to calculate the odds from probability is O = P/(1-P).
3. What is the formula to calculate probability from odds?
The simple formula to calculate probability from odds is P = O/(O+1).
4. Where can I find the Odds Calculator with steps?
You can easily find the odds calculator with steps from the online web portal called probabilitycalculator.guru, a reliable and trusted website that provides concept-wise probability calculator tools for free.