Positive odds indicate how much money would be won from a $100 bet.
Odds of +100 are also referred to as evens, meaning the bookmaker is suggesting that the chance of the outcome occurring is 50/50.
Calculating returns with positive odds
It is relatively straight forward to calculate returns using positive odds if you are placing a $100 bet - but often this is not the exact figure of our stake. To calculate returns on a positive odds bet, the following formula is used:
Stake * (odds / 100)
Arsenal vs Chelsea - Arsenal to win odds of +250 with a $10 bet stake
10 * (250 / 100) = 25
Therefore returns would be $25.
Converting positive odds into decimal odds
The formula for converting positive odds into decimal odds is as follows:
Odds / 100 + 1
Atalanta vs Roma - over 2.5 goals at odds of +150
150 / 100 + 1 = 2.50
Converting positive odds into fractional odds
In order to convert American odds into fractional odds, the odds are arranged in a certain way and then reduced to their simplest form. To convert positive odds into fractional odds, the odds are arranged as follows:
And then reduced into simplest form.
Barcelona vs Real Madrid - Real Madrid to win at odds of +300
300/100 reduces down into 3/1
Converting positive odds into implied probability
Implied probability is the conversion of odds into a percentage to show the expected probability of an outcome.
The formula for converting positive odds into implied probability is as follows:
100 / (odds + 100) * 100 = implied probability
Chelsea to beat Manchester United at odds of +200
100 / (200 + 100) * 100 = 33.3%