Polymarket Odds Converter: Prices to American Odds

A Polymarket price in cents is the market's implied probability, and it converts straight into betting odds: 65 cents is −186 in American odds and 1.54 in decimal odds. The Polymarket odds converter below does the math both ways and shows the odds you really get once Polymarket's sports taker fee is added.

Polymarket Odds Converter

Type a Polymarket price in cents to get American, decimal, and fractional odds. Or type odds in any format to find the matching Polymarket price. The panel underneath adds the sports taker fee, which is the number to compare against a sportsbook.

The rest of this guide shows the formulas, a full conversion table, how Polymarket's fee changes by market category, and how to line an all in Polymarket price up against a sportsbook line.

How to Convert Polymarket Prices to American Odds

Every Polymarket market is a Yes or No question, and each share settles at $1 if its side wins and $0 if it loses. The price you pay is your stake, and $1 minus the price is what a winning share adds on top. That makes the conversion a single formula per format.

Implied probability is the price itself. A 40 cent share is a 40% chance.

Decimal odds are 100 divided by the price in cents. A 40 cent share is 100 / 40 = 2.50.

American odds depend on which side of 50 cents you are on:

• Below 50 cents (an underdog): +(100 − price) / price x 100. At 40 cents that is +60 / 40 x 100 = +150.
• Above 50 cents (a favorite): −price / (100 − price) x 100. At 65 cents that is −65 / 35 x 100 = −186.
• At exactly 50 cents: +100, even money.

Read the 65 cent example the way a sportsbook would. You risk 65 cents to win 35 cents, which is the same as risking $186 to win $100. If the conversion itself is new to you, the implied probability guide walks through the same math for sportsbook odds.

Polymarket Odds Conversion Table

The first four columns are the straight conversion. The last column adds Polymarket's sports taker fee, which is the price you really pay if you buy at the quoted price with a market order.

Two rows are worth a second look. A 33 cent share is +203, not the +200 you might round to. And a 50 cent share stops being even money once the fee lands: it plays like −105.

Polymarket Fees by Market Category

Polymarket charges takers a fee of rate x price x (1 − price) per share, and the rate depends on the market's category. The fee is charged when your order fills, not only when you win, and makers who rest a limit order on the book pay nothing.

On a 65 cent sports share the fee is 0.05 x 0.65 x 0.35 = 1.14 cents. Your all in cost is 66.14 cents, so you need the event to happen 66.14% of the time just to break even. In American odds, that 65 cent share really costs about −195, not −186.

The fee is largest at 50 cents and shrinks toward both ends of the range, so a 30 cent share and a 70 cent share pay exactly the same fee. The converter above uses the sports rate, because that is the rate on the markets you would compare with a sportsbook. For how the same formula stacks up against Kalshi's 0.07 rate, read Polymarket vs Kalshi.

How to Read Yes and No Prices

Every Polymarket market has a Yes side and a No side, and the two sum to about $1. If Yes trades at 65 cents, No trades at about 35 cents, which is +186 in American odds before fees.

The quoted price is not always the price you get. Polymarket runs an order book, so there is a bid (what buyers will pay) and an ask (what sellers want). Buying Yes right away fills at the ask, so convert the ask, not the midpoint or the last trade. A 1 cent spread between bid and ask is already a 1 point hit to your break even. The same logic, and how fees can hide a crossed market, is covered in finding fair value on prediction markets.

Comparing a Polymarket Price to a Sportsbook Line

Always compare the all in Polymarket price to the sportsbook price, never the quoted one. Here is an illustrative example of why.

Say Polymarket shows Yes at 65 cents on a sports market and a sportsbook has the same outcome at −190.

• Quoted Polymarket price: −186, which looks better than −190.
• All in Polymarket price after the sports taker fee: −195 (66.14% break even).
• Sportsbook at −190: 65.52% break even.

On the quoted price Polymarket looks 4 points better. After the fee, the sportsbook is cheaper. The numbers here are illustrative, and live prices and fees change, so check both before you trade. Any single bet or share can still lose.

Futures and long shot shares convert with the same formula, and the fee matters less the further you get from 50 cents. A 20 cent championship share converts to +400, and after the 0.80 cent taker fee it plays like about +381. For how two sided prediction markets change futures pricing, see how prediction markets changed futures betting.

A Polymarket price is also useful as a reference even when you do not trade there. Comparing a sharp price to a sportsbook line is the idea behind no vig fair odds, and the Odds Screen lines up prices side by side so you can spot the gaps. SmartStake Insiders goes a step further and surfaces the positions of qualified Polymarket and Kalshi wallets.

Polymarket's Own Odds Display

Polymarket shows prices in cents by default. Its international site has a setting that switches the display to American, decimal, or fractional odds, while the separate Polymarket US app shows prices in cents or as a percentage chance.

That gap matters more since August 7, 2026, when CFTC staff sent a letter warning regulated prediction markets against showing event contracts in American style sportsbook odds. Kalshi removed its American odds view on August 31, 2026, as covered in the Kalshi odds converter. Whatever an app shows by default, converting the price yourself, fee included, is the reliable way to compare it with a sportsbook.

Frequently Asked Questions

How do you convert Polymarket odds to American odds?

Divide the Polymarket price into the payout. Below 50 cents, American odds are +(100 minus price) / price x 100, so 40 cents is +150. Above 50 cents, American odds are −price / (100 minus price) x 100, so 65 cents is −186. At exactly 50 cents the price is +100, even money.

What does a 65 cent price on Polymarket mean?

A 65 cent Yes share means the market prices the event at about a 65% chance. The share pays $1 if the event happens and $0 if it does not, so you risk 65 cents to win 35 cents. That is −186 in American odds and 1.54 in decimal odds, before fees.

Does Polymarket charge fees on sports markets?

Polymarket charges a taker fee on sports markets. The published formula is 0.05 x price x (1 minus price) per share, which is 1.14 cents on a 65 cent share. The all in cost becomes 66.14 cents, so a 65 cent price really plays like −195, not −186. Resting maker orders pay no fee.

Are Polymarket fees the same on every market?

Polymarket fees are not the same on every market. The formula is the same, but the rate changes by category: 0.07 on crypto, 0.05 on sports, economics, culture, weather and other markets, 0.04 on finance, politics, mentions and tech, and 0 on geopolitics and world events.

Is a Polymarket price the true probability?

A Polymarket price is the market's implied probability, not a guaranteed true probability. It carries no bookmaker margin, but the bid and ask spread and the taker fee still sit on top of it. Treat it as a sharp estimate to compare against, not a prediction of the result.

More Prediction Market Tools

The standalone Prediction Market Converter handles both Polymarket and Kalshi prices, and the Kalshi odds converter adds Kalshi's taker fee. For how event contracts work in general, start with prediction market betting explained. To convert between sportsbook formats, use the odds converter or the betting odds converter guide.