AFL Odds Converter
Australian bookmakers price AFL markets in decimal odds. Enter a price in decimal, fractional, American or implied probability and read the same footy price back in all four formats.
Odds Converter
Inputs
Decimal is the standard format at Australian bookmakers.
Total return per $1 staked, stake included.
Used for the return and profit figures only.
Results
- Decimal
- 2.50
- Fractional
- 3/2
- American
- +150
- Implied probability
- 40.00%
Profit only, stake not included
Negative below 2.00 decimal
Break-even strike rate at this price
- Profit multiple
- 1.50
- Total return
- $250.00
- Profit
- $150.00
Decimal price less the stake
Stake and profit combined
Bookmakers round fractional prices to a conventional ladder, so the fraction shown here is the closest simple fraction to the decimal price rather than the exact price a bookmaker would display.
How the AFL Odds Converter works
Every odds format is a different way of writing the same number: the return on a unit stake. Decimal odds, the standard across Australian bookmakers, state the total return including the stake, so 2.50 returns $2.50 for every $1 staked. Strip the stake back out and you have the profit multiple, which is the number fractional and American odds are built from.
Implied probability is the reciprocal of the decimal price. It tells you how often the bet has to win for the price to break even, before any bookmaker margin is removed. A price of 2.50 implies 40 per cent, so the bet needs to land more than four times in ten to be worth taking at that price.
Implied probability = 1 / decimal odds Fractional = decimal - 1 American = (decimal - 1) x 100 when decimal >= 2.00, otherwise -100 / (decimal - 1)
Example
A decimal price of 2.50 converts to 3/2 fractional, +150 American and an implied probability of 40.00%. The profit multiple is 1.50, so a $100 bet returns $250 in total, of which $150 is profit.
How to use it
- Choose the format you already have the price in, such as decimal.
- Type the price into that field, for example 2.50.
- Read the equivalent fractional, American and implied probability values.
- Use the implied probability as the break-even strike rate for that price.
AFL Odds Converter FAQ
Which odds format do Australian bookmakers use?
Decimal odds are the default across Australian bookmakers and betting apps, and they are what you will see quoted on AFL head-to-head, line and total markets. Decimal odds show the total return per dollar staked, stake included, so 1.90 returns $1.90 on a $1 bet. Fractional odds are the traditional British format and still appear in racing form, while American odds are common on North American sites. All three describe the same price, so converting between them changes the notation and nothing else.
How do I convert decimal odds to implied probability?
Divide one by the decimal price. Odds of 1.90 give 1 / 1.90 = 0.5263, or 52.63 per cent. Odds of 4.00 give 25.00 per cent. That figure is the break-even strike rate: bet at 1.90 and you need to win more than 52.63 per cent of the time to finish in front. Because a bookmaker builds a margin into both sides of a market, the implied probabilities across a market always add to more than 100 per cent, so treat them as prices rather than as honest probability estimates.
Why do the implied probabilities in a market add up to more than 100%?
The excess is the bookmaker margin, also called the overround or the vig. On a two-way AFL head-to-head priced 1.90 and 1.95, the implied probabilities are 52.63 per cent and 51.28 per cent, which sum to 103.91 per cent. That extra 3.91 per cent is the margin the book holds if it takes balanced money on both sides. To recover the prices a book would quote with no margin, run the market through a margin calculator or a devig calculator rather than reading the raw implied probabilities.
What does a negative American price mean?
Negative American odds describe an odds-on selection, one priced below 2.00 in decimal. The number states how much you must stake to win 100 units. A price of -200 means staking 200 to win 100, which is 1.50 in decimal. Positive American odds do the reverse and state how much 100 units returns in profit, so +150 is 2.50 decimal. The changeover point is exactly 2.00 decimal, which is written +100 or -100 depending on the site.
Do fractional odds include the stake?
No. Fractional odds show profit only, so 3/2 returns three units of profit for every two staked, plus your two units back. That is why 3/2 equals 2.50 in decimal rather than 1.50. Evens, written 1/1, is 2.00 decimal. The conversion is straightforward in one direction, decimal minus one expressed as a fraction, but awkward in the other because bookmakers round fractions to a conventional ladder, so a fractional price is often a slightly rounded version of the decimal price.
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