Implied Probability Calculator
Convert betting odds to implied probability and calculate bookmaker margins
About this calculator
The Implied Probability Calculator converts betting odds into percentage probabilities, helping bettors understand the likelihood of outcomes as perceived by bookmakers. This tool also calculates the bookmaker's margin (overround), revealing the built-in profit that sportsbooks add to their odds. By understanding implied probabilities and margins, bettors can identify value bets where their assessment of an outcome's likelihood exceeds the bookmaker's implied probability, leading to more informed wagering decisions.
How to use
Enter your betting odds in any format (decimal, fractional, or American odds). The calculator instantly converts them to implied probability percentages. For margin calculation, input odds for all possible outcomes in an event to see the total overround and bookmaker profit margin.
Frequently asked questions
What is implied probability in betting?
Implied probability is the percentage chance of an outcome occurring according to betting odds, converted from odds to probability format.
How do I calculate bookmaker margin?
Add all implied probabilities for every outcome in an event. The amount exceeding 100% represents the bookmaker's margin or overround.
Why is knowing implied probability important?
It helps identify value bets by comparing your assessment of an outcome's likelihood with the bookmaker's implied probability percentage.