Odds Translator

Last updated: 2026-07-14

Convert between prediction market cents and sportsbook odds formats instantly. Translate PM contract prices to American, decimal, and fractional odds, or convert sportsbook lines to prediction market prices.

Same bet, other side's language
-186
A 65¢ prediction-market contract is the same bet as -186 at a sportsbook — both say the chances are 65.0%.
¢
PM Cents
65¢
American
-186
Decimal
1.54
What the odds say the chances are
65.0%

Why Do Prediction Markets and Sportsbooks Use Different Formats?

Prediction markets evolved from financial derivatives and academic research, adopting a "cents on the dollar" pricing model where each contract pays $1.00 if the event occurs. Sportsbooks evolved from horse racing and use odds formats designed to communicate payouts relative to wager size. Both systems encode the same underlying information — implied probability — but their different conventions can make cross-market comparisons confusing without a translator.

How Do Fees Differ Between Prediction Markets and Sportsbooks?

Prediction markets charge explicit trading fees (typically 0.1% to 7% per trade depending on the platform and price), while sportsbooks embed their margin directly into the odds through vig. A -110/-110 line at a sportsbook has about 4.5% built-in margin, but you never see a separate "fee" line item. Prediction markets show lower vig in their contract prices but charge a visible fee on each trade. Use our Fee-Adjusted Returns calculator to compare the total cost of trading on each platform.

When Should You Trade on a Prediction Market vs a Sportsbook?

Prediction markets typically offer better prices on political, economic, and current events. Sportsbooks remain dominant for traditional sports with deep liquidity and competitive lines. The Odds Reference dashboard tracks prices across both types of platforms so you can always find where the best value sits for any given event.

Frequently Asked Questions

How do prediction market prices relate to sportsbook odds?
A prediction market contract priced at X cents implies an X% probability. This directly maps to sportsbook odds: 50 cents equals +100 (even money), 33 cents equals +200, and 75 cents equals -300. Both systems express the same underlying probability, just in different formats.
What are American odds and how do they work?
American odds use positive and negative numbers. Positive odds like +150 mean you profit $150 on a $100 bet. Negative odds like -200 mean you must risk $200 to profit $100. The breakpoint is +100 / -100, which equals a 50% implied probability or 50 cents in PM terms.
What are decimal odds?
Decimal odds represent the total payout per dollar wagered, including your stake. Decimal 2.50 means a $1 bet returns $2.50 total ($1.50 profit plus your $1 stake). To convert from PM cents: decimal odds = 100 / cents. A 40-cent contract equals 2.50 decimal odds.
What are fractional odds?
Fractional odds like 3/2 mean you profit $3 for every $2 wagered. They are most common in UK betting markets. A 40-cent PM contract (decimal 2.50) converts to 3/2 fractional odds. The fraction represents net profit relative to stake.
Why do prediction markets typically have lower vig than sportsbooks?
Prediction markets operate as exchanges where users trade against each other, similar to a stock exchange. The platform only charges a small transaction fee. Sportsbooks set their own lines and profit from the spread between the two sides, resulting in higher built-in margins typically between 4-10%.
How do I compare a sportsbook line to a prediction market price?
Convert both to implied probability. If a sportsbook has an event at -150 (60% implied) and a prediction market prices it at 55 cents (55% implied), the PM price implies a lower probability. The difference may represent a trading opportunity or reflect different information.
What is vig or juice in odds?
Vig (vigorish) or juice is the margin built into odds by a sportsbook. If both sides of a binary event sum to more than 100% implied probability, the excess is the vig. For example, -110 on both sides implies 52.4% each, totaling 104.8% — the 4.8% excess is the vig.
Can I use this tool for live arbitrage between markets and sportsbooks?
This tool converts formats so you can compare prices apples-to-apples. For real-time arbitrage detection across platforms, use the Odds Reference live dashboard which monitors prices across Kalshi, Polymarket, and other platforms continuously.

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