Polymarket prices every outcome as a probability by default — a share priced at $0.60 means the market estimates a 60% chance that outcome happens. This probability-native pricing is one of the things that makes prediction markets different from traditional sportsbooks, and it’s straightforward once you understand the system.
On sports markets, Polymarket also lets you view odds in 8 different formats, including American, Decimal, and Fractional — familiar territory if you come from a sports betting background. This guide covers how every format works, how to convert between them, and how to toggle your preferred display.
How Polymarket Odds Work
Every market on Polymarket is a question with two or more possible outcomes. Each outcome has shares priced between $0.01 and $0.99, where the price directly represents the market’s implied probability.
Here’s the core mechanic:
- Buy a share at $0.60 → You pay $0.60
- If the outcome happens → Your share pays out $1.00 (you profit $0.40)
- If the outcome doesn’t happen → Your share pays out $0.00 (you lose $0.60)
The price is the probability. A $0.75 share means the market believes there’s a 75% chance the event occurs. Your profit on a winning trade is always $1.00 minus the price you paid (before fees).
This system is consistent across every market on the platform — politics, crypto, finance, sports, and everything else.
Quick Price-to-Payout Examples
| Share Price | Implied Probability | Payout if Correct | Profit per Share |
|---|---|---|---|
| $0.10 | 10% | $1.00 | $0.90 |
| $0.25 | 25% | $1.00 | $0.75 |
| $0.40 | 40% | $1.00 | $0.60 |
| $0.50 | 50% | $1.00 | $0.50 |
| $0.60 | 60% | $1.00 | $0.40 |
| $0.75 | 75% | $1.00 | $0.25 |
| $0.90 | 90% | $1.00 | $0.10 |
Lower-priced shares are riskier but offer higher rewards. Higher-priced shares are safer but yield smaller profits. This is the same risk-reward relationship you’d see in any betting market — it’s just expressed differently.
Odds Formats on Sports Markets
While Polymarket’s default Price format works well for prediction market traders, sports bettors are used to seeing odds expressed differently. To bridge that gap, sports markets on Polymarket offer 8 odds formats:
- Price (default)
- American
- Decimal
- Fractional
- Percentage
- Indonesian
- Hong Kong
- Malaysian
You can toggle between these formats using the gear/settings icon in the top-right corner of any sports market page. Your selection persists across all sports markets.
Important: This toggle is only available on sports markets. Non-sports markets (politics, crypto, economics, culture, weather, tech) display the default Price format exclusively.
Let’s break down each format with examples and conversion formulas.
Price (Default)
Price is Polymarket’s native format and the default on every market. The number represents the cost in cents (or equivalently, the implied probability as a decimal).
How it looks: $0.60
What it means: You pay $0.60 per share. The market implies a 60% probability.
Formula: Price = Implied Probability (as a decimal)
| Price | Implied Probability | Profit if Correct |
|---|---|---|
| $0.20 | 20% | $0.80 |
| $0.50 | 50% | $0.50 |
| $0.60 | 60% | $0.40 |
| $0.80 | 80% | $0.20 |
This is the simplest format. If you’re new to Polymarket, start here — the number literally tells you the probability.
American Odds
American odds are the standard format in US sports betting. Favorites are shown as negative numbers and underdogs as positive numbers.
How it looks: -150 (favorite) or +250 (underdog)
What it means:
- -150 → You need to risk $150 to win $100 profit
- +250 → A $100 bet returns $250 profit
Conversion Formulas
Price to American (favorite, probability > 50%):
American = -(probability / (1 - probability)) × 100Price to American (underdog, probability < 50%):
American = +((1 - probability) / probability) × 100American to Price:
- If negative: Price = |American| / (|American| + 100)
- If positive: Price = 100 / (American + 100)
Examples
| Price | Probability | American Odds |
|---|---|---|
| $0.80 | 80% | -400 |
| $0.75 | 75% | -300 |
| $0.60 | 60% | -150 |
| $0.50 | 50% | -100 / +100 |
| $0.40 | 40% | +150 |
| $0.25 | 25% | +300 |
| $0.20 | 20% | +400 |
American odds are the most intuitive format for US-based sports bettors. The further the number is from zero (in either direction), the more extreme the probability.
Decimal Odds
Decimal odds are the standard in Europe, Australia, and Canada. The number represents the total payout per $1 wagered — including your original stake.
How it looks: 1.67
What it means: A $1 bet returns $1.67 total if you win ($0.67 profit + $1.00 stake returned).
Conversion Formula
Decimal = 1 / probabilityPrice = 1 / DecimalExamples
| Price | Probability | Decimal Odds |
|---|---|---|
| $0.80 | 80% | 1.25 |
| $0.75 | 75% | 1.33 |
| $0.60 | 60% | 1.67 |
| $0.50 | 50% | 2.00 |
| $0.40 | 40% | 2.50 |
| $0.25 | 25% | 4.00 |
| $0.10 | 10% | 10.00 |
Decimal odds are widely considered the easiest format to calculate payouts with: just multiply your stake by the decimal number. A $50 bet at 2.50 returns $125 total ($75 profit).
Fractional Odds
Fractional odds are the traditional format in the United Kingdom and Ireland. The fraction represents net profit relative to stake.
How it looks: 2/3
What it means: For every $3 you stake, you win $2 profit (plus your $3 stake back).
Conversion Formula
Fractional = (1 - probability) / probabilityPrice = denominator / (numerator + denominator)Examples
| Price | Probability | Fractional Odds |
|---|---|---|
| $0.80 | 80% | 1/4 |
| $0.75 | 75% | 1/3 |
| $0.60 | 60% | 2/3 |
| $0.50 | 50% | 1/1 (Evens) |
| $0.40 | 40% | 3/2 |
| $0.25 | 25% | 3/1 |
| $0.10 | 10% | 9/1 |
A fractional odds of 1/1 (also called “Evens”) means the event is a coinflip — 50% probability. Anything less than 1/1 is a favorite, anything greater is an underdog.
Percentage
Percentage format displays the identical information as Price, but expressed as a percentage instead of a dollar value.
How it looks: 60%
What it means: The market implies a 60% probability. Same as a $0.60 price.
Conversion Formula
Percentage = Price × 100| Price | Percentage |
|---|---|
| $0.20 | 20% |
| $0.50 | 50% |
| $0.60 | 60% |
| $0.85 | 85% |
This is the simplest alternative format — it’s just the Price displayed as a percentage. If you find “$0.60” less intuitive than “60%,” this setting is for you.
Indonesian Odds
Indonesian odds work like American odds but divided by 100. Favorites are negative, underdogs are positive.
How it looks: -1.50 (favorite) or +2.50 (underdog)
What it means:
- -1.50 → Risk 1.50 units to win 1 unit of profit
- +2.50 → Risk 1 unit to win 2.50 units of profit
Conversion Formula
Indonesian = American / 100Examples
| Price | Probability | Indonesian Odds |
|---|---|---|
| $0.80 | 80% | -4.00 |
| $0.75 | 75% | -3.00 |
| $0.60 | 60% | -1.50 |
| $0.50 | 50% | -1.00 / +1.00 |
| $0.40 | 40% | +1.50 |
| $0.25 | 25% | +3.00 |
| $0.20 | 20% | +4.00 |
Indonesian odds are popular in Southeast Asian betting markets. If you already understand American odds, Indonesian is the same logic on a smaller scale.
Hong Kong Odds
Hong Kong odds show the net profit on a 1-unit bet. Unlike Decimal odds, they do not include the return of your original stake.
How it looks: 0.67
What it means: A $1 bet returns $0.67 profit if you win (your $1 stake is also returned, for $1.67 total).
Conversion Formula
Hong Kong = (1 / probability) - 1Hong Kong = Decimal - 1Examples
| Price | Probability | Hong Kong Odds |
|---|---|---|
| $0.80 | 80% | 0.25 |
| $0.75 | 75% | 0.33 |
| $0.60 | 60% | 0.67 |
| $0.50 | 50% | 1.00 |
| $0.40 | 40% | 1.50 |
| $0.25 | 25% | 3.00 |
| $0.10 | 10% | 9.00 |
Hong Kong odds are straightforward: the number tells you exactly how much profit you make per dollar wagered. A value of 1.00 means you double your money (50% probability).
Malaysian Odds
Malaysian odds are an inverse system where the sign indicates whether you’re looking at a favorite or underdog. Negative values indicate underdogs (the opposite of American/Indonesian).
How it looks: -0.67 (underdog) or +0.67 (favorite)
What it means:
- Positive (favorite): You risk 1 unit to win the stated amount. +0.67 means you risk $1 to win $0.67
- Negative (underdog): You risk the stated amount to win 1 unit. -0.67 means you risk $0.67 to win $1.00
Conversion Formulas
For favorites (probability > 50%):
Malaysian = 1 - (1 / probability)For underdogs (probability < 50%):
Malaysian = (probability / (1 - probability)) - 1Examples
| Price | Probability | Malaysian Odds |
|---|---|---|
| $0.80 | 80% | +0.75 |
| $0.75 | 75% | +0.67 |
| $0.60 | 60% | +0.33 |
| $0.50 | 50% | +1.00 / -1.00 |
| $0.40 | 40% | -0.60 |
| $0.25 | 25% | -0.33 |
| $0.10 | 10% | -0.11 |
Malaysian odds are commonly used in Malaysian and Singaporean sports betting markets. The key difference from other formats: negative means underdog, which is the opposite of American and Indonesian.
How to Change the Odds Format
Switching your odds display on Polymarket sports markets takes a few seconds:
- Navigate to any sports market on Polymarket
- Look for the gear/settings icon in the top-right corner of the market page
- Click the icon to open the odds format dropdown
- Select your preferred format from the 8 available options
- Your selection applies immediately and persists across all sports markets
Your choice is saved to your session, so you won’t need to set it every time you visit a sports market.
Remember: The odds format toggle only appears on sports market pages. If you’re viewing a politics, crypto, or other non-sports market, you’ll only see the default Price format.
Why Only Sports Markets?
Polymarket offers odds format options exclusively on sports markets for a practical reason: sports bettors are the audience most familiar with alternative odds formats.
Traders coming from DraftKings, FanDuel, Bet365, or other sportsbooks expect to see American (-150) or Decimal (1.67) odds. Offering familiar formats removes a barrier to entry and makes the platform immediately readable for sports bettors.
On the other hand, Polymarket’s core prediction market audience — traders focused on politics, crypto, economics, and current events — already thinks in probabilities. For them, the Price format ($0.60 = 60% chance) is the most natural and informative display. Adding format toggles to these markets would add complexity without meaningful benefit.
Converting Between Formats
Here’s a quick reference table for converting a $0.60 price (60% probability) across all 8 formats:
| Format | Value | What It Means |
|---|---|---|
| Price | $0.60 | Pay $0.60 per share |
| American | -150 | Risk $150 to win $100 |
| Decimal | 1.67 | $1 bet returns $1.67 total |
| Fractional | 2/3 | Win $2 for every $3 staked |
| Percentage | 60% | 60% implied probability |
| Indonesian | -1.50 | Risk 1.50 units to win 1 unit |
| Hong Kong | 0.67 | $1 bet profits $0.67 |
| Malaysian | +0.33 | Risk $1 to win $0.33 |
And for a $0.25 price (25% probability / underdog):
| Format | Value | What It Means |
|---|---|---|
| Price | $0.25 | Pay $0.25 per share |
| American | +300 | $100 bet profits $300 |
| Decimal | 4.00 | $1 bet returns $4.00 total |
| Fractional | 3/1 | Win $3 for every $1 staked |
| Percentage | 25% | 25% implied probability |
| Indonesian | +3.00 | Risk 1 unit to win 3 units |
| Hong Kong | 3.00 | $1 bet profits $3.00 |
| Malaysian | -0.33 | Risk $0.33 to win $1.00 |
No matter which format you use, the underlying economics of the trade are identical. Changing the odds display does not affect the price you pay, the profit you receive, or the fees you’re charged. It’s purely a visual preference.
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