Odds and betting lines for sporting events, the stock market, and many other types of games are all about converting odds. Odds conversion can be a confusing subject for those who aren’t familiar with it. In this article we’ll talk about how to convert odds correctly as well as some mistakes that you should avoid when doing so.
There are a few different ways that you can go about converting odds. The most common way is to use what’s called the “odds ratio.” To convert odds using the odds ratio, simply divide the first number by the second number. So if you have odds of 100/200, you would divide 100 by 200 to get 0.50. This tells you that for every $100 risked, you will win back $50 in return (plus your initial bet).
Another way to convert odds is by using what’s called “decimals.” Decimal conversion is simpler than the odds ratio and can be used for all types of bets – even those where there isn’t an obvious or underdog. With decimal conversion, all you need to do is move the decimal in either direction. So if you have odds of 100/200, that would be the same as saying 0.50 in decimals and likewise for any other number combination.
There are a few mistakes people make when converting odds and we’ll discuss those below:
Converting Odds Mistakes: The first mistake many bettors make when it comes to odd conversion is not knowing which method they should use or even whether it’s necessary at all! For example, some bets such as coin flips require no conversions because there isn’t an obvious underdog (the house has exactly as much chance winning as anyone else). In these cases just stick with using your favorite language – English or Metric