Contract Price to Probability Calculator
A 62¢ contract is a 62% chance. Convert either way, with the betting odds.
- Probability
- 62.00%
- Price per contract
- 62¢
- Pays if yes
- 100¢ ($1.00)
- Profit if yes, per contract
- 38¢
- Equivalent American odds
- −163
- Equivalent decimal odds
- 1.613
Educational tool. Bandwagon does not take or place wagers. Results are arithmetic on the numbers you enter, not advice.
How the contract Price to Probability Calculator works
A yes contract pays $1 (100¢) if the event happens and nothing if it does not. A price of c cents means the market treats the event as c% likely, before fees and before the market's own bid-ask spread.
Profit per contract if yes is 100 − c cents; the loss if no is the price you paid. The equivalent decimal odds are 100 / c, and the American odds follow from the probability.
The price you see is usually a quote on one side. For a probability with the spread removed, enter the yes and no prices in the Market De-Vig Calculator; Bandwagon's Markets pages show prices that way, labeled with the time they were read.
Contract Price to Probability Calculator example
You enter
- Price (cents)
- 62¢
- Probability
- 62%
- Convert from
- Price to probability
You get
- Probability
- 62.00%
- Price per contract
- 62¢
- Pays if yes
- 100¢ ($1.00)
- Profit if yes, per contract
- 38¢
- Equivalent American odds
- −163
- Equivalent decimal odds
- 1.613
A 62¢ contract is a 62% chance; if yes it pays 100¢, a 38¢ profit per contract. The equivalent odds are −163 (decimal 1.613).
Contract Price to Probability Calculator questions
How do I convert a contract price to a probability?
Divide the price in cents by 100. A 35¢ contract is 35%.
Why is the price not exactly the true probability?
Fees, the bid-ask spread and thin trading all move it. It is the market's best consensus, not a measurement.
How do contract prices compare with sportsbook odds?
Convert both to probabilities. 62¢ is 62%, the same as −163 in American odds, and the market's own quote has no margin built into one side.
Can a contract cost more than 99¢?
Markets tick in whole cents or finer, but a price near 100¢ means the market thinks the event is nearly certain.
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