PuntersEdge Tools
Implied Probability Calculator Australia
Convert decimal odds to the bookmaker's implied probability. Optionally enter your own estimate to see the difference — a positive gap is potential edge.
Results will appear here.
What is implied probability?
The implied probability is the win probability built into a set of decimal odds. It is calculated as:
Implied Probability = 100 ÷ Decimal Odds
Bookmakers add a margin (overround) so the implied probabilities across all outcomes sum to more than 100%. This means their odds are always slightly worse than true fair odds.
- At 2.00 (evens), implied probability is 50%.
- At 1.50, implied probability is 66.7%.
- At 3.00, implied probability is 33.3%.
If your estimated probability is higher than the implied probability, the bet has positive EV. Use the EV Calculator to quantify it.
Working with live odds?
This calculator is an educational guide. If you want the prices behind it, PuntersEdge publishes live odds from 15 Australian racing bookmakers as a REST/JSON API — next-to-go racing, runners, and best-odds comparison, with every response carrying its own age.
See API pricing · Developer docs · Get a free API key — 3,000 credits/month, no card.
18+ only. This calculator is for informational purposes only. Gambling can be addictive. Gambling Help: 1800 858 858.