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 This topic has 16 replies, 13 voices, and was last updated 9 years, 8 months ago by ivanjica.

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March 7, 2012 at 22:42 #21169
Can anyone tell me how to calcuate the percentage for odds on shots?
For example 4/11.
Member since March 2008March 7, 2012 at 23:05 #395258March 7, 2012 at 23:18 #395263Ginge will tell you its a 75% Chance Nath by working to Evens as a 50% chance, 1/10 as a 90% chance, so 10/1 is a 10% chance,5/1 is a 20% chance,4/1 is a 25% chance, 3/1 is a 33.3% chance,6/4 is a 40% chance,2/1 is a 50% chance,No how can 2/1 and Evens both be 50% chances,1/100 is a 100% chance so 100/1 is a 1% chance,so 1/50 is a 50% chance,nah that cant be right either…how the **** can evens be 50%,2/1 be 50% and 1/50 be 50%! Stupid bloody question at this time of night am a goin to bed!
March 7, 2012 at 23:21 #395264This may be of assistance:
http://www.sbrforum.com/bettingtools/oddsconverter/
Zip
Exactly what I was saying!
March 7, 2012 at 23:25 #395265You divide 100 by the basic factor;
100/1.36363636= 73.33%
March 7, 2012 at 23:28 #395266So KF will you lay me 2/1 on a 50% chance, 3/1 on a 33.33% chance, 4/1 on a 25% chance and 5/1 on a 20% chance. If so I’m all in!!!!
As GT would indicate that’s "value" not to be missed!!!!
yorkiedips
March 7, 2012 at 23:35 #395268To calculate the winnings you just divide the 11 into 100 and multiply it by you stake
100 @ 4/11 = 100 divided by 11 = 9.11
then multiply that by 4 to get your winnings
=4 x 9 = 36 plus your original outlay = 136
March 8, 2012 at 00:31 #395275That’s the exact opposite of what Nathan asked, Superman.
March 8, 2012 at 00:43 #395276You could do it another way.
First figure + Second figure = Resultant figure
Second Figure ‘/, Resultant figure = Decimal
Decimal X 100 = PercentageSo:
4/11 =
4 + 11 = 15
11 ‘/, 15 = 0.733
Therefore 4/11 = 73.3%By knowing the odds against percentages off by heart, what I usually do is switch the figures around and then subtract the odds against equivalent from 100.
ie 11/4 = 26.7%
Therefore 4/11 = 100 – 26.7 = 73.3Value Is EverythingMarch 8, 2012 at 00:50 #395277The confusion is that the equation for oddson is not the same as oddsagainst. Perhaps, may even be the opposite.
March 8, 2012 at 08:48 #395298You divide 100 by the basic factor;
100/1.36363636= 73.33%
To find out the basic factor, the returns to a pound given by any ready reckoner will tell you the figure you need to use.
I cannot help thinking that some people on here give answers that are intended to confuse the OP more than help them.
March 8, 2012 at 09:21 #395305100 / ((a/b) +1)
Mike
March 8, 2012 at 09:32 #395308Thanks everyone, think I’ve sussed it. Seeing how I can work out odds against I like gingers 2nd option. So if 6/5 is 45.5% then 5/6 would be 100 – 45.5 = 54.5%.
Member since March 2008March 8, 2012 at 09:44 #395310Odd Against and Odds On use exactly the same method to calculate percentage.
If odds are expressed as A/B (like 11/4 or 4/11 or 6/1 etc) the equation for percentage is always:
B divided by A+B, then that answer is multiplied by 100. Usually expressed as B/(A+B)x100.
So 11/4 is: 4 divided by (11+4) multiplied 100. That is 4 divided by 15 then multiplied by 100. That is 0.2666666 multiplied by 100. That is 26.66666
And 4/11 is: 11 divided by (4+11) multiplied 100. That is 11 divided by 15 then multiplied by 100. That is 0.7333333 multiplied by 100. That is 73.33333
And Even Money (1/1) is: 1 divided by (1+1) multiplied 100. That is 1 divided by 2 then multiplied by 100. That is 0.500000 multiplied by 100. That is 50.00000
And 6/1 is: 1 divided by (6+1) multiplied 100. That is 1 divided by 7 then multiplied by 100. That is 0.1428571 multiplied by 100. That is 14.28571
And 1/6 is: 6 divided by (1+6) multiplied 100. That is 6 divided by 7 then multiplied by 100. That is 0.85714285 multiplied by 100. That is 85.71428
March 8, 2012 at 11:00 #395329Thanks everyone, think I’ve sussed it. Seeing how I can work out odds against I like gingers 2nd option. So if 6/5 is 45.5% then 5/6 would be 100 – 45.5 = 54.5%.
Correct Nathan.
Value Is EverythingMarch 9, 2012 at 10:05 #395493Nice one GT , your way is the best , dont use percentages much for the horses , however cash poker is another matter
cheers
a good Cheltenham to all , Im away to the sand ….
Ricky
May 10, 2012 at 22:24 #403827Did anyone see Chris Dixon’s extremely unsatisfactory explanation of how to arrive at the odds percentages this evening on RUK?
Supposedly aimed at betting novices he said, verbatim: "Just take the decimal odds divide a hundred by your decimal price and there you have it".
What a load of garbage. He used 3/1 as his example but following his absurdly poor description you would arrive at a decimal price of 3.00 (ie. 3 divided by 1) and ergo an incorrect % of 33.33%.
The key ommission by Dixon, bearing in mind his item was aimed at novices, was the fact you include your stake by, in his example, adding the 3 to the 1 prior to dividing 100 by the result (4).
I had hoped this RUK piece would be illuminating but neither Dixon nor his guest were able to shed any light on the art of creating tissues and identifying "value".
Its no skin off my nose, but Dixon’s career is on a steep upward curve and yet on this evidence he is winging it.

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