Understand what these odds mean when listening to Americans talking about sports betting or podcasts. Let’s see how we can convert Moneyline odds to their respective probabilities. So for example, let’s say that the gaming company Ladbrokes offers 5/2 odds for a particular horse to win a race. Odds 5/2 (expressed as “5 to 2”), which means that for every 2 units you bet, you get 5 back as a win. Our Odds Conversion Calculator will also convert a odds probability.