Pari-Mutuel Odds Converter - Pool Betting Probability Calculator
← back to insightspari-mutuel odds converter
convert pool sizes to implied probability, decimal odds, fractional odds, and american odds. calculate expected value instantly.
YES Odds
Implied Probability
60.0%
Decimal Odds
1.63
Fractional
39/60
American
-160
NO Odds
Implied Probability
40.0%
Decimal Odds
2.44
Fractional
59/40
American
+144
understanding pari-mutuel odds formats
implied probability
what the market "thinks" the chance of an outcome is based on how money is distributed.
probability = your_pool / total_pooldecimal odds
total return per unit bet. multiply by your stake to get total payout.
decimal = total_pool / winning_poolfractional odds
profit-to-stake ratio. "3/1" means you win 3 for every 1 you bet.
fractional = profit : stakeamerican odds
+150 means bet $100 to win $150 profit. -150 means bet $150 to win $100 profit.
+ underdog / - favoritewhat is expected value (EV)?
expected value tells you the average profit/loss per bet if you made the same bet many times. positive EV (+EV) bets are profitable long-term. in pari-mutuel markets, you find +EV by betting when you believe the true probability differs from the implied probability.
EV = (your_probability × potential_profit) - (opponent_probability × stake)related tools & guides
see live odds in action
watch how odds change in real-time as bets come in on baozi prediction markets.
explore markets