Converting Fractional Odds To Percentage Odds

Fractional odds are usually given as a win/loss ratio for the team. For example, a team that is favored 15/1, that would mean out of sixteen games the team would win once. Fractional odds can be confusing to look at but, there is a way to make it easier by converting them into percentages.
To change the fractional odd to a percentage, you add the right hand side to the left hand side and then divide the right hand side with that number.
With a 15/1 fraction odd, you’re looking at 16 games.  Take the 1 and divide it by 16 for a decimal of .0625 which gets multiplied by 100 for a percentage of 6.25%.
If the team is being quote as 5/4, then once again we can add the right hand side to the left and divide the right hand side to by the result.  So, 4/9 x 100 = 44.4%
If a team is quoted as odds on, the process is the same.  So, say a team is 1:2 on.  We  add the right to the left and divide the result into the right.  So, (2 / (1 + 2) x 100 =  66,67%.
Let’s take a soccer game for another example. With Burnley’s odds 23/20 in the English League and Southampton’s odds at 2/3, who has the upper hand? Burnley’s 23 losses to 20 wins will create the fraction, 20/43.  So by dividing that and converting the decimal, we end up with the bookies implying that Burnley has a 46% chance of  winning. If we take Southampton’s 2/3, that would mean there is a 3 over 5 fraction. So the formula of 3/5=0.6*100=60% chance of Southampton winning.
What about a golf game? The fractions are still laid out the same with wins and losses. But, monetarily speaking, if you have 8/1 odds on a golfer, that means \$100 will be multiplied by \$800 for your profit. The better a golfer is doing will result in a lower number on the left hand side. Luke Donald is 4/1 so, for every \$100 there will be \$400 made in profit if he wins. If you’re looking for a long shot, go with the golfer that’s got 150/1 because you’ll be looking at \$1500 for every \$100 that you bet. Converting those fractional odds to percentage odds is the same as mentioned up above. For fractional odds of 4/1, divide the win by the total number and convert the decimal to a percentage. The formula is 1/5=.2*100=20%. It may not sound like much but, for a \$5 bet on 20%, you’ll get \$25 whereas as \$5 bet on 4%, you’re looking at winning \$125.