Making the odds in probabilities
Making the odds in probabilities
Now we will explain what the probability of winning at a given ratio. Again, with a simple formula Both fractions were combined and divided by the second number - the result is the percent probability.
For example, 4/6 for Barcelona - collect 4 and 6 and get 10 and then divide this number 6 and multiply x 100. Or there is a 60% chance to win the match Barcelona according set by the bookmaker odds of 4/6 or 1.67.
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Fractional odds to probability - a formula for transformation
y / (x + y) x 100 = z
Example 4/6 is converted to the 6 / (4 + 6) x 100 = 60%
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Continuing in the same scenario, let's take rate for a draw - 11/4. Divide 4 of 15 and 0.26 x 100 = 26% probability level. For Real Madrid 4/1 is obtained probability 20%. Here we have identified three probabilities to exit the game in rates
Moment, 60% of Barcelona, 26% and even 20% for Real makes 106% rather than 100%. Why? This occurs because the set of bookmaker earnings - ratios include pledged by the bookmaker profit margin. Read below for more details.
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Note: The easiest way to convert decimal odds into probabilities is just 100 split ratio. For example, at 100 divided by a factor of 2.50 was obtained probability of 40%.
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