Converting Elo ratings into odds

[townterrier]

I have recenty read a Kevin Pullein piece on ratings in which he states: "The Elo rating system lends itself very well to the purpose of sports betting in that it can be used not only to determine the relative strength but also to calculate probabilities and thus odds" I have created my Elo ratings system however I am now left with a table that can tell me Everton are so many points better than Bolton but how can I calculate odds from this as Pullein suggests I should be able to do with Elo ratings? Thanks for your help.

[GaF]

Re: Converting Elo ratings into odds Do you have (or can you get) historical ELO's at a point in time for old games? I'll assume you can...... I'd be tempted to graph the difference in the ELO between the 2 teams (being positive if the Home team is favourite, and negative if the away team has a better rating) with the percentage of the time there is a home win/Away Win/draw (3 seperate graphs) for each "difference" and see if there is a pretty clear "line of best fit" (from which I could have the percentage chance and thus calculate the odds).