Odds Explained · Probability
Probability, decimal odds, fractional odds, implied probability, value betting. Tested with IPL 2026 fixtures — fractional odds to decimal conversion, when to take the value.
FIXTURE 47
DC156/8 VS PBKS157/4 ·OV 19.4 ·odds 1.853 Odds Formats
Decimal Odds
Most common in India. 1.85 = ₹1.85 return per ₹1 bet. Includes stake.
Fractional Odds
UK style. 5/1 = ₹5 profit per ₹1 bet. Plus stake. = 6.0 decimal.
American Odds
+200 = bet ₹100 to win ₹200. -150 = bet ₹150 to win ₹100.
Implied Probability
1 / decimal odds = probability. 1.85 odds = 54% implied probability.
Sample Odds · Tonight's Matches
| Match | Team A | Draw | Team B | Implied A |
|---|---|---|---|---|
| CSK vs MI | 2.10 | - | 1.75 | 48% |
| RCB vs KKR | 1.85 | - | 2.00 | 54% |
| DC vs PBKS | 1.95 | - | 1.90 | 51% |
| GT vs SRH | 1.65 | - | 2.30 | 61% |
| RR vs LSG | 1.80 | - | 2.05 | 56% |
Win probability visual
GT at 1.65 has 61% implied probability. That's a strong favorite. SRH at 2.30 = 43% implied. Value bet = backing the underdog when their true probability is higher than implied.
Find Value In Tonight's Odds
Compare implied probability to your model's true probability. If true prob > implied, bet has value. Match-ups + form + venue = your model.
Odds FAQ
What are decimal odds?
Decimal odds show total return per unit bet. 1.85 odds on ₹100 = ₹185 return (₹85 profit + ₹100 stake). Standard in India.
How do I convert fractional to decimal?
Divide fraction by 1 and add 1. 5/1 = 5 + 1 = 6.0 decimal. 11/4 = 2.75 + 1 = 3.75 decimal.
What's a value bet?
When your model's true probability is higher than the implied probability from odds. 1.85 odds = 54% implied. If your model says 60%, that's value.
How accurate are bookmaker odds?
Generally accurate — bookmakers adjust quickly. But they build in margin (overround). True probabilities are usually 2-5% lower than implied.