# Positive odds

**Positive odds** are one of two types of odds used in American odds. Positive odds represent the underdog in a bet, meaning this outcome is considered less likely to happen than not.

Positive odds indicate how much money would be won from a $100 bet.

For example, if odds of +300 were quoted, then a $100 bet would see returns of $300 and a total payout of $400.

Odds of +100 are also referred to as evens, meaning the bookmaker is suggesting that the chance of the outcome occurring is 50/50.

The opposite of positive odds are negative odds, which represent the favourite in a bet, meaning this outcome is considered more likely to happen than not.

## 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)

For example

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

For example

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:

Odds/100

And then reduced into simplest form.

For example

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

For example

Chelsea to beat Manchester United at odds of +200

100 / (200 + 100) * 100 = 33.3%