Decimal odds, percentages and fractions

One clear advantage of decimal odds make it very easy for a bettor to understand how much money he is going to walk away with from the bookie.
Usually, they are represented as a number with two decimal places after the number, like 2.25.
With decimal odds, in order to figure out how much money you’re going to make, all you do is multiply the bet by the decimal odd, for ease of explanation we’ll use 2.00 by the amount you bet, let’s say $10. So, 2.00*$10= $20, which is the amount you will walk away with, for a $10 profit.
For conversions from fraction odds to decimal odds, you take the fraction given and add the two numbers to together and then divide by the number of the right hand side.
So, odds of 1:1 or evens, equate to decimal odds of 2.00.
Odds of 3:1 equate  to decimal odds of 4.00, and odds of 2:5 on equate to decimal odds of 1.4.
To convert decimal odds to percentages, just divide 100 by the decimal odds.  So, odds of 2 is the equivalent of 50%, odds of 4.00 are 25% and odds of 1.4 are 71.4%.
The upcoming match between CSKA Moscow and Internazionale has odds of Home- 13/8, Tie- 12/5 and Away- 9/5. Let’s do the home first. We take the total number of 21 (13+8) and divide it by 8 giving us a decimal odd of 2.625. For the percentage, we do the opposite and divide 8 by 21 and end up with 38% chance that the home team will win. If we bet $20 from this and win, we’ll end up with about $32 profit from the victory.
Let’s try one more, we’ll use the Manchester United vs. FC Basel match and bet on a tie. The odds are 15/2. So, with a tie happening 2 out of a possible 17 times, we will change this to a decimal first and divide 17 by 2 and end up with our decimal odds of 8.5. To get our percentage odds, we’ll divide 2 by 17 and end up with a 12% chance the game will end up in a tie. Using the same $20 bet, we end up with approximately $150 profit. That would be a good win. Thanks to the conversion of the fraction to either a decimal or a percentage, we can use basic math to figure out how much our bets will pay out.

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