From http://mybettingsites.co.uk/bet-calculator/odds-converter/#conversiontable
How To Convert Decimal Odds To Fractional
There are two steps to convert decimal odds into a fraction.
Step 1) Convert decimals odds into a fraction by subtracting 1, and using 1 as the denominator.
Example: 3.40 – 1 = 2.40. This creates the decimal odds of 2.40/1.
While this is a perfectly good fraction, bookmakers never use numbers with decimal points in fractionals. That is why we need step two.
Step 2) We now need to turn this fraction into its most simple form. Find the nearest whole integer (i.e. no decimal place). The factor to which you need to multiply the numerator to the whole integer is reflected in the denominator.
Example: You need to multiply 2.40 by 5 before it becomes a rounded number, 12. Therefore the fraction becomes 12/5. (2.40 x 2 = 4.80, 2.40 x 3 = 7.20, 2.40 * 4 = 9.60, 2.40 * 5 = 12)
The last step would be achieved by multiplying the top and bottom by 100 and dividing by the HCF / LCD. This can be found using my other answer, provided before you made it clear this was about betting, not general fractions