Odds Converter

Implied probability tells you what percentage chance the bookmaker's odds suggest an outcome has of occurring. For example, decimal odds of 2.00 imply a 50% chance. However, bookmakers build in a margin (overround), so the true probability is slightly lower than what the odds suggest. Comparing implied probability to your own assessment of an outcome's likelihood is the foundation of finding value bets. If you believe an outcome has a 60% chance but the odds imply only 45%, that represents potential value.