Odds converter and implied probability calculator
Switch between the three odds formats and see what chance the bookmaker is really pricing in.
To convert decimal odds to implied probability, divide 100 by the odds: 2.50 equals 40 per cent. This converter translates between decimal, fractional and American odds and shows the payout on your stake in Canadian dollars, so you can compare prices across sites.
Sportsbooks show odds in different formats. Canadian sites mostly use decimal or American, and UK-style fractions appear in racing and some promotions. The full picture is in the trusted Canadian online casinos that we update every month.
Enter your odds in any format and get all three, the implied probability and the payout for your stake.
Odds converter and implied probability
How do the three formats differ?
Decimal odds show the total return per dollar staked, so 2.50 returns CAD 2.50 for each CAD 1, including the stake. Fractional odds show profit relative to stake: 3/2 means CAD 3 profit for every CAD 2. American odds use a sign: +150 is the profit on a CAD 100 stake, while -200 is the stake needed to win CAD 100.
| Decimal | Fractional | American | Implied probability |
|---|---|---|---|
| 1.50 | 1/2 | -200 | 66.7% |
| 2.00 | 1/1 | +100 | 50.0% |
| 2.50 | 3/2 | +150 | 40.0% |
| 4.00 | 3/1 | +300 | 25.0% |
What is implied probability?
It is the chance suggested by the odds: 100 divided by the decimal odds. When you add up the implied probabilities of all outcomes of an event, the total usually exceeds 100 per cent. The excess is the bookmaker's margin, sometimes called the vig or overround.
How can you use the result?
- Compare the same bet across sites in one format.
- Work out your payout before you stake.
- Spot margin: lower margins mean better value over time.
- Remember that implied probability is not a prediction of the real outcome.
If you are new to the terms, the casino and betting glossary has short definitions.
Where is sports betting legal in Canada?
Single-event sports betting became legal in Canada in 2021. Ontario runs a regulated market through iGaming Ontario, and other provinces offer their own platforms. Age limits follow the province. This site focuses on casinos, so confirm sports betting rules on the regulator's website of your province. Read about online gambling regulation in Canada.
Frequently asked questions
Which odds format is best?
None is better, they express the same price. Decimal is the simplest for calculating a payout because you multiply the stake by the odds. American odds are common in North America and fractions in horse racing. Use whichever you prefer and convert when you compare between sites.
Is implied probability the real chance?
No. It is the probability the odds suggest after the bookmaker's margin is included, so it is typically a bit higher than the estimated real chance. Use it as a reference to compare prices, not as a forecast. No odds guarantee any result.
Why do two sites show different odds?
Each bookmaker sets its own prices based on its models, its margin and the bets it receives. Small differences are normal. If you bet on sports, comparing a few sites can improve value over time, though it does not change the fact that the margin favours the house.