How to use the converter
Move the slider to the contract price in cents. You'll see the implied probability and the equivalent decimal, American and fractional odds.
Conversion table
| Price | Implied chance | Decimal | American | Fractional |
|---|---|---|---|---|
| 10¢ | 10% | 10.00 | +900 | 9/1 |
| 20¢ | 20% | 5.00 | +400 | 4/1 |
| 40¢ | 40% | 2.50 | +150 | 3/2 |
| 50¢ | 50% | 2.00 | +100 | evens |
| 60¢ | 60% | 1.67 (exactly 1.666…) | −150 | 2/3 |
| 75¢ | 75% | 1.33 | −300 | 1/3 |
| 90¢ | 90% | 1.11 | −900 | 1/9 |
All figures are before fees. Fractions are shown in lowest terms (UK bookmakers traditionally write 3/2 as 6/4 and 2/3 as 4/6). At 50¢ a contract is even money only before costs: add the trading fee and the real price is slightly worse.
Comparing with a sportsbook
A sportsbook line of −110 implies 52.38%. If the same side trades at 51¢ on an exchange, that's about −104 before fees. Whether it's actually cheaper depends on the fee: at 51¢ + 1¢ (52¢) it still beats −110, but at 51¢ + Kalshi's ~1.75¢ taker fee (about 52.75¢) it costs more. That's the core of our prediction markets vs sportsbooks guide.
Going the other way, from sportsbook odds to probabilities? Use our sports odds converter. For what a trade pays, try the contract calculator, and read implied probability for the theory.
