Since the betting market has shifted online, bettors now have more options, with more sporting events open for betting than ever before. However, because these are typically set in different locations globally, it is possible for bookmakers to present different odds formats, from fractional to decimal or even US betting odds. Although this may be slightly confusing at first, this is where the odds converter tool comes in!

What is an Odds Converter?

An odds converter is a simple tool that allows users to convert one odds format into another. For the most common metrics, the tool displays formats in fractional, decimal, and American odds.

Fractional odds are typically used in the UK and, as their name suggests, are displayed as fractions such as 3/1 or 5/3. Decimal odds are Europe and Australia’s preferred metric, displayed as decimals such as 3.00 or 2.50. Finally, American odds are primarily used in North America. These are typically expressed as either a negative or positive number, such as -250 or +300.

To convert one form of odds to another, users simply input one form into the tool, which works much like the other betting calculators we offer at OddsMonkey. Click the convert button, and the odds converter will provide the other odds format. For example, if a user inputs fractional odds of 6/4, the odds converter will provide both the decimal odds of 2.50 and the American variation of +150.

How To Use the Odds Converter

The OddsMonkey odds converter may be one of the simplest tools available, as it doesn’t require any specific bet details. All users have to do is find the odds that they want to convert and place them into the correct part of the calculator. Three odds formats are available: fractional, decimal, and American.

Once you have found the odds you want to convert, enter them in the correct field and press the ‘Convert’ button. This instantly shows the odds in the other two formats. For example, if you have American odds, enter them into the American section and press Convert to see the decimal and fractional equivalents.

Why use an Odds Converter

There are numerous benefits that an odds converter could present should you choose to use one, especially if you are someone who is frequently involved in gambling and general sports betting. One main benefit is its ease of use. If you bet on events around the world, it can quickly translate odds into a more familiar format. You will likely encounter different odds if you bet on UK horse racing and American football; however, an odds converter lets you switch between formats quickly and accurately.

The odds converter tool at OddsMonkey also lets users compare the odds a bookmaker may offer. Within the competitive world of sports betting, all of the different bookmakers are likely going to offer different odds on the same events. Therefore, it is vital to compare these different odds to distinguish which odds are the best and for you to make sure bets offer the greatest available returns. Using an odds converter puts odds into one common format, making comparisons easier.

Who can use the Odds Converter?

An odds converter can be a valuable tool for anyone involved in sports betting. Visitors to OddsMonkey can use this tool to convert the odds of different sporting events and subsequently understand them, whereas others may use this looking for the best value bets out there. This is especially useful if you are someone who utilises matched betting, as you can find great value back bets to wager on, covering each outcome of a sports fixture.

However, the odds converter at OddsMonkey is not just limited to sports betting, as the tool can also be used in order to better understand other forms of gambling such as casino games. For example, most table games have set odds based on certain outcomes, such as numbered segments on a roulette table featuring odds at 35/1. However, an odds converter can easily convert these values into a more familiar format, whether that is 36.00 or +3500.

Betting Calculators at OddsMonkey

Although the odds converter is useful for comparing odds, it can’t handle more complex calculations. However, not to worry, as we here at OddsMonkey have a whole host of different betting calculators, each of which corresponds to one of the various betting options out there.

One of the most popular forms of betting is accumulator betting, which typically comprises a multi-legged bet with various outcomes and different odds. These bets typically have higher odds than most other bets as the odds combine. However, calculating potential returns manually can be time-consuming; that’s where the accumulator calculator comes in. This removes the need for elaborate calculations, as you only need to enter the stake, the odds of each selection, and the result of each leg.

If horse racing is more your forte, we also have a number of calculators that could aid in your betting, including the each-way calculator. Each-way bets not only place stakes on a horse winning but also cover if a horse places. Should your horse be pipped to the post, you could still see some profit or at least a portion of your original stake returned.

FAQs

Is the OddsMonkey odds converter free to use?

Yes, the odds converter is a free, straightforward tool, so anyone can use it to convert odds into different formats.

Can an odds converter be used for matched betting?

Yes, if you want to compare odds in different formats for matched betting, this tool can be useful for seeing both back and lay bet odds.

Does the odds converter calculate potential winnings?

No, the odds converter’s primary purpose is to show odds in different formats. You don’t enter any bet details into the tool, since it is not a typical betting calculator.