In all forms of sports betting, odds can be shown in three different ways. I’m going to explain those systems here and introduce you to the cricket betting odds converter which will do all of the hard work for you.
What is a Cricket Betting Odds Converter?
A betting odds converter will take any of the three main odds formats and convert them. For example, if you see a fractional set of odds showing at 4/6, you can type that into the relevant box and the converter will give you the equivalent in decimal and American odds.
A converter is especially useful when only one format is used by a specific sportsbook.
Betting Odds Converter
How to Read American, Fractional and Decimal Odds?
To illustrate this point, we’ll use three different odds under each format. Effectively, they will be the same price and the bettor would expect the same profit if the bet in question were to win.
First up for this illustration are fractional odds which we will list at 2/1.
Our unit stake is £1 so, for £1, we will get a £2.00 profit. Our stake is included in the payout so we receive a total return of £3.00.
The decimal equivalent of that figure is 3.00. Once again, we will bet £1.00. Our stake is not returned with any profit but we receive 3 x 1 = £3.00 so the return is the same.
Finally, the equivalent set of American odds are +200. A £1 unit stake will return £2.00 and your stake will also be refunded in the event of a win.
These types of Odds are shown as a fraction and typical examples may include 2/1 or 6/4. They are, in effect, the ratio of profit to the amount of money that you stake. UK betting sites use the fractional odds format by default.
Shown clearly with decimal numbers, many bettors find that these types of odds are the easiest to understand. A set of decimal odds will indicate the amount of money that you win for every unit wagered.
Decimal odds might be shown as 2.0, 4.5, etc.
As you will have guessed, these types of odds are most popular in North America. They could be shown as +200 or +350 but there are many other possibilities.
The indication here reveals the amount of money that you need to wager in order to win $100.
Bookmakers that Use all Odds Formats
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Significant Terms and Conditions
• Available to new customers only. Make a qualifying deposit of £5* or more and claim the offer within 30 days of registering your account to qualify for 500% of that amount in Bet Credits, up to a maximum of £50* in Bet Credits. Once released, your Bet Credits will be held in your account balance and are non-withdrawable.
• To release your Bet Credits for use, you must place qualifying bets to the value of your qualifying deposit (capped at £10*) and they must settle within 30 days of claiming the offer. Only qualifying bets placed and settled after claiming the offer will count towards this requirement.
• Apple Pay, Google Pay, PayPal, paysafecard and all other prepaid credit and debit cards, where available, cannot be used for either your qualifying deposit or any subsequent withdrawal of returns from Bet Credits stakes unless we have successfully verified an accepted form of your Identity Documents and you have entered a Postal Verification Code (PVC), or we have successfully verified two accepted forms of your Identity Documents. See full Terms and Conditions for details.
• Bets placed must meet certain conditions to count towards the release of your Bet Credits:
- Must contain at least one selection at odds of 1/5 (1.20) or greater.
- In market/fixture combinations that only have two or three potential outcomes (for example Soccer Full Time Result), where you have placed bets on more than one potential outcome, either pre-match or In-Play, only the outcome with your highest cumulative stake will count.
- Where a stake has been partially Cashed Out, only the remaining active stake will count.
- Where a bet has been edited using our Edit Bet feature, only the new stake on the new bet will count.
- Fully Cashed Out, Instant Games, Gaming, void bets or In-Play bets which are settled as a push will not count.
• Your Bet Credits are non-withdrawable, and Bet Credits stakes are not included in any returns. Any returns from Bet Credits placed will be added to your Withdrawable Balance. Bet Credits cannot be used on certain products, offers/promotions and bet types. See full Terms and Conditions for details.
• Your Bet Credits will be forfeit and removed if your account is inactive for 90 consecutive days.
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Cricket Betting Odds FAQ
What is the Meaning of Odds in Cricket Betting?
Odds will tell you how much you stand to win when you place a bet in the cricket betting markets. Whether you’re using fractional, decimal or American odds, you can look at the formulas listed above and work out what your possible returns will be.
This is important because you need to weigh up your outlay against the potential profit before deciding whether or not the bet is worth the gamble.
Why Familiarise Yourself with Bet Types?
Before you use the converter, it’s worth getting to know the bet types and the three odds formats that are attached to them.
How are Odds Determined?
Odds are set by the bookmaker ahead of each event and they can also be carried over to the live markets once that event has got underway.
Those odds will take in a number of different factors. The comparative strengths of the opposition and the players involved will be assessed and the bookies will also study recent form.
Head to head results between the two sets of opponents will also be used, together with the possibility of home advantage. The bookmakers will then do their calculations and they will employ a method that ensures they will make an overall profit from their customer base.
Our preference for odds formats comes down to personal choice and most sportsbooks will let you change to Decimal, Fractional or American. However, there are some cases where this won’t happen.
Maybe you’re reading a tipster’s preview and they tell you that Team A will win at odds of 6/4. It’s not easy to translate that into decimal or American odds and that’s where the converter steps in.
It’s quick and easy to use and it’s a perfect way to iron out one of the most important areas of sports betting.