Odds are commonly used to give players an idea of the chances a particular team, horse or dog has of winning and to determine what will be paid out when someone wins. Decimal odds are primarily used in Europe and are also known as European odds. It is helpful to know how to convert European odds to percentages in order to truly understand your chances of winning. Percentages are much easier to understand than decimal odds.
Instructions
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1
Find the decimal odds. Whether you are at a betting location or looking online, the odds will be posted for you to see.
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2
Divide the decimal odds into 100. For example, use the decimal odd 5.0. Divide this into 100.
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3
Calculate the answer. 100 divided by 5 equals 20. The number that you come up with is the percentage; in this case, the probability is 20%.
