# How Are Betting Odds Calculated?

To calculate betting odds determine the probability that the event will occur. Next is to convert the probability into a percent where you divide the numerator of the probability by the denominator of the probability and multiply by 100. The next step is to determine the round which is the percentage of the profit that the bookmaker reserves for himself. The fourth step is to convert the betting percentage into the betting probability and finally convert the betting probability into the betting odds.
Betting odds are of three types; decimal, fractional and American.Depending on the sport,one has to switch to the different betting odds. To understand more on how to calculate the betting odds, follow this link.
The term betting is used in the gambling game. To count the betting odds you determine the likelihood that the event will occur. This is given as a fraction and represents the likelihood of the event relative to all the other possibilities. Change the probability into a percent and then determine the over-round which is the percentage of profit that the bookmaker reserves for himself and varies depending on the bookmaker and the type of betting being done. Change the betting percentage into the betting probability. Finally convert the betting probability into the betting odds. The formula is: P / (1-P) where P= the betting probability.
You can use an online betting calculator to calculate the betting odds. This is achieved by entering the betting type and the stake and prices of your selections. The calculator will indicate the possible betting odds from the calculations. You can either pick fractions or decimals depending on how you like your answer.
To calculate betting odds, you multiply your stake by the odds and then add your original stake. For example for odds of five to one with a ???œ1 stake, multiply ???œ1 by five. This will be the amount you will actually win. You will get your stake money back, so add that and the total you will receive back is ???œ6.
Q&A Related to "How Are Betting Odds Calculated"
 1. Determine the probability that the event will occur. This is usually expressed as a fraction and represents the likelihood of the event relative to all the other possibilities. http://www.ehow.com/how_5409674_calculate-betting-...
 1. Start with some basics. In craps, two dice are thrown, with each possessing six sides and each side representing a number from 1 to 6. 2. Understand that if you're tempted to think http://www.ehow.com/how_2042026_calculate-craps-be...
 1. Know that the odds for double zero roulette are slightly worse than those for single zero roulette. The reason for this is the extra double zero space on a double zero roulette http://www.ehow.com/how_2044158_calculate-roulette...
 Prior to placing a bet, it is a good idea to learn, exactly how do betting odds work. Each bet has many variables that will effect the overall odds, and it's important to determine http://answers.ask.com/Entertainment/Gambling/how_...
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You can work out betting odds by using betting calculators specifically the betting odds converter calculator which converts fractional, decimal and American odds ...
There are three types of Betting odds fraction,american and decimal. The most common betting odd used in UK is the fraction, Betting odds are used to calculate ...
There are three types of Betting odds fraction,american and decimal. The most common betting odd used in UK is the fraction, Betting odds are used to calculate ...