Betting odds-everything you need to know

Betting odds this is one of the basic elements of a bookmaker. Anyone who wants to bet effectively bookmakers , he must know, how to read betting odds and what conclusions to draw from them . Check , how to understand betting odds and what are the formats of their recording. Find out, how betting odds are determined and how to count them. Read How to find top betting odds and what are the possibilities to increase the amount of the standard course.

Betting odds – what it's about ?

Betting odds express the odds estimated by the bookmaker for the occurrence of a particular event . The rate is based on the estimated probability that something will happen (e.g. a win for the selected team, a draw in the match). The relationship between the probability value and the rate is inversely proportional:

• the higher the probability that a particular outcome will occur, the lower the betting odds,
• the lower the probability of a given outcome, the higher the betting odds are. e .

You can also look at it from the other side. If we can see that the specific betting odds they are low, we can with a high probability assume that a given result will actually occur. Conversely, if bookmakers place high odds on a particular type, the chances that it will work are rather slim. However, let us note at once that this is not an iron rule. Firstly betting odds they can be simply wrong (the bookmaker made a mistake, because he did not take into account some important factors or even made the so-called Czech mistake.) Second betting odds for the selection intentionally can be changed to encourage players to bet on it – if only because many people were typing the opposite result.

So, we emphasize that the amount of odds offered for a given event can only be a general indication of the chances of its occurrence . For example, the strategy of playing on the so-called certainties (types to which low betting odds ) often fails, because the sport is unpredictable and even the most confident favorite can lose. Therefore, we should treat betting odds e as an important clue as to the probability of a given type, but the final betting decision should be made primarily based on your own sports analysis.

How to read betting odds? Recording formats

In Poland they are widely used betting odds decimal i all legal bookmakers as a basic form of recording, they take this format. However, in addition to it, you can meet several other types of saving courses that are used in different parts of the world. Below are the most popular formats for recording, indicating how the odds for an event with a probability of 66 would be recorded%:

• European betting odds (decimal): 1.50-applicable throughout Europe except the UK,
• British betting odds (fractional): 1/2-used in the UK,
• American betting odds : -200-used in the USA,
• Indonesian betting odds – - 2.0-applicable in Asia,
• Malaysian Betting Odds: 0.5-used in Asia.

Of course, there are formulas according to which you can independently convert, for example, the British exchange rate to the European exchange rate or check how much, with a certain probability, they will be, for example. American betting odds – however, this is not particularly necessary. In Poland it is enough to know, how to calculate betting odds decimal. However, if you are located outside the country and want to bet with a foreign operator who uses a different form of registration, you can use ready-made solutions. Very often, bookmakers have option to change the format of displayed courses . In addition, on the network you can find free exchange rate converters .

It is worth noting that the decimal rate is very clear and easy to use which is its undoubted advantage. At first glance, you can see what the win will be if the type works (what is the multiple of the bet placed). Of course, you need to remember about the current taxation of bookmakers in Poland.

Recalculate betting odds on probability

Early betting odds express the probability of a certain result (estimated by the bookmaker), knowing the amount of odds for the event „ X”, you can easily calculate the theoretical probability of winning after betting this type. The formula for this is very simple, right the probability is:

(1 / betting odds) × 100 = probability

And so, if the betting odds are, for example, 2.00, after substituting the data into the above formula, it turns out that betting on a given selection, we have a 50% chance of winning [(1 / 2.00) x 100]. If the odds are low, the chances of winning will be higher, e.g. for odds of 1.70, the probability of winning is close to 59%, for odds of 1.50, respectively, about 66%, and for odds of 1.25, up to 80%. In turn high betting odds this will result in lower chances of winning. For example, A odds of 2.50 gives a probability of winning 40%, A odds of 3.0 – about 33%, and a odds of 4.0 – 25%.

Betting odds a win

As you can see betting odds they talk about the magnitude of the estimated probability, but they also have another, in practice, more basic function. Betting odds they are primarily used to calculate, what will be the winning amount if the type is hit . Here the dependence is of course the opposite than it is in the case of dependencies: betting odds-probability . Or:

• low betting odds means a lower win,
• high betting odds results in higher winnings .

However, you need to know that to know the amount of winnings, it is not enough to multiply the value of the odds and the bet you want to bet. Because in Poland it applies 12% gaming tax , which is deducted by legal bookmakers at the time of placing a bet, the final win is calculated by the formula:

betting odds x BET x 0.88

The gaming tax (represented by a coefficient of 0.88) obviously reduces the amount of winnings and you need to keep this in mind when considering placing a particular bet. It is often assumed that limit of profitability betting in African realities oscillates around the course 1,50.

Betting odds the bookmaker's margin

To understand correctly, how to count betting odds you need to be aware of one more thing. It is about what it is and what impact it has on betting odds it has the bookmaker's margin. The margin is like the commission it charges bookmaker from players in exchange for their service (the possibility of making mutual bets). So that the betting operator can collect this fee, reduces the value of courses based on an estimate of the probability of a particular outcome.

For example, if, according to estimates, the chances of winning a volleyball match (there is no possibility of a draw) Team A and Team B are suitably 65% and 45%, that's theoretically betting odds they should be 1.80 and 2.20. However, this never happens. Before publishing the odds offer, the bookmaker imposes its margin on it and issues lower odds, for example, in the amount of 1.66 and 2.00. If the player recalculates these betting odds the percentage chances of winning will get a strange result, i.e. 60% and 50%, which numbers give the sum is not 100%, and as much as 110%. This anomaly is explained by the collection of commissions by the bookmaker. While the amount of the margin is known after summing the probabilities resulting from the odds issued and subtracting from this sum the value of 100% . In our example, the bookmaker imposed as much as 10% margin on the meeting, but fortunately in real offers the margin is usually much lower (most often 2-6%).

Thus, the difference in the original odds calculated on the basis of the probability of winning a particular type, and what odds are offered to players, is nothing more than the value of the betting margin. Needless to say, the lower the margin, the better for the player, because the Greater will be his profit from the win. Let's also remember that bookmakers charge a higher margin for those bets for which the estimated risk is higher .

How are betting odds determined?

Players may also wonder how betting odds are set i who's in charge? Answering from the end, betting odds are the work of specialists in determining the amount of odds, that is, so-called oddsmakers . Often they are outstanding players who were recruited by the bookmaker. As we remember, to determine the amount of the course for a given selection, you need the probability of occurrence of a given event – and here it is necessary detailed analysis of many factors . That is, just as a player should analyze a given match well before betting, the same analysis is carried out by the staff of experts of the bookmaker. They matter m.in. results of recent matches, injuries, absences of the most important players, history of meetings, place of the match, weather or non-sports events related to the players, etc. Analysts of the bookmaker have at their disposal not only their own knowledge and extensive experience of sports meetings – they also use specialized analytical tools or computer algorithms.

When oddsmakers they will specify betting odds for a given match and they will be added to the bookmaker's offer, this does not mean that their value will not change. On the contrary. Betting odds they are modified based on algorithm calculations and analysis of player behavior. The bookmaker monitors how many typers and how much money they have placed bets on, betting on a given result and makes appropriate changes depending on this. That is why the betting odds for a given match can increase or decrease many times, although the analysis of the match itself does not show any changes (regarding, for example, the composition of the teams, the form of individual players, etc.). Such operations provide bookmakers with solvency (and at the same time profit).

Let's highlight one more thing, perhaps not obvious to novice players who have not yet had the opportunity to observe how they work in practice courses. Bookmakers , which have already been included, are invariant, i.e. the value of the bet on the coupon is not subject to change. For example, if you place a bet with odds of 2.00, it will be settled after such odds, no matter what price fluctuations occur later.

Live betting odds

Betting odds they change in pre-event betting, but that's nothing compared to what happens in live betting. Betting odds different types are changed several times during the game, because the bookmaker is constantly responding to further actions (e.g. in football: goals, yellow and red cards, injuries, etc.). Before each important action (e.g. penalty shoot-out) possibility betting in general is temporarily blocked and only after updating the odds can you bet again. Betting is also suspended when the match result is changed (it is necessary to calculate new courses) or just before its end, when the result seems to have already been decided. Such a huge dynamics of odds offers in live betting makes their effective betting a real art and requires careful observation of all changes.

On the other hand, very frequent and sometimes abrupt changes also have their advantages. If the bookmaker misses an important event on the pitch or makes a mistake by issuing a new Odds, Betting they can be very profitable for the vigilant player. During live betting it is not difficult to find really good betting odds, but you need to react immediately as a rule, inflated rates have a short life. Of course, on the agenda here are also strongly falling betting odds , therefore, playing live is not one of the easiest or safest ways to bet.

Top betting odds

It is enough to compare the offer of 2 bookmakers for any sporting event to know that betting odds more or less, but they almost always differ . Differences sometimes result from different probability estimates, but such situations are rare. Estimators, supported by state-of-the-art technology, usually reach the same conclusions about the chances of an event occurring. The reason for the exchange rate differences is most often other margin imposed by individual bookmakers, which is why top betting odds for a given selection, we will usually find the bookmaker who has set the lowest margin on this bet.

However, is it possible to assume that a particular bookmaker always has the lowest margin, so every time we find him the best betting odds ? As you might guess, it is not so easy. However, it is possible to make some generalizations, stating that the bookmaker "A" has, as a rule, top betting odds for a given league (e.g. NBA matches) or sport (e.g. slag). However, in practice always worth checking, what betting odds have been exposed by different betting operators to a specific event and which one of them is the most profitable to bet on this time. The differences can be really significant, and this, of course, translates into the amount of the final win.

Betting odds-comparison site

Verification „ on foot”, which the bookmaker put the best betting odds on taxes meeting, is time consuming and uncomfortable, especially if we want to have a full review available offers. If you want to make it easier, compare betting odds using a special rate comparator . Such an online tool automatically downloads from online betting sites current course offerings and presents them in a transparent manner. Using this solution allows for quick and easy comparison individual offers and check, where to find data the meeting is top betting odds . Comparator it can also be very useful to play using special game strategies e.g. you can find in this way surebets is falling betting odds .

However, you need to be careful, because the data displayed in the comparison sites may not be up to date. Course values are downloaded by such tools at certain intervals, so the values shown by the comparison engine may have been true, for example, 5 minutes ago, and now they are different (events may also be no longer available). The comparison can give general view on where in a given case it is most advantageous to bet bookmakers-the best odds however, it should always personally verify the offer on the bookmaker's website.

Ways to increase the coupon rate

Betting odds they have the amount specified by the bookmaker, however, players can use certain ways, thanks to which the odds of the bet coupon and thus the potential win will be higher. Finally, let's take a look at what options are available.

Betting odds on coupons like

At bookmakers you can bet 3 types of coupons – you can choose from simple (single-gift), accumulated (multi-gift) or system betting shops. The highest course y we obtain, bet sports events on accumulated coupons , which results from the way the total bet rate is calculated. Now betting odds all events on the coupon are multiplied by each other, so the general the rate of the accumulator bet is relatively high . For example, if a coupon has a selection of 2.00 and a selection of 2.50, then the total coupon rate will be as high as 5.00. Thus, if you correctly select 2 events on the AKO coupon, then the winnings from it will be greater than the sum of winnings from bets on the same 2 types, but bet on 2 separate simple coupons (while maintaining the same player's contribution).

Betting odds increased in promotions

Another way to actually get good betting odds, they are promotions available at bookmakers (especially the internet). One of the most popular promotions is the so-called tax-free game . If you bet with a bookmaker as part of this promotion, the burden of the 12% gaming tax is passed on to the betting operator. Worth it know that although the name "tax-free game" is catchy, in practice, bookmakers still deduct the tax at the time of placing a bet, but then give the player A odds bonus (+14%). Finally, the win is increased to such a level as if the entire bet made by the typer was involved in the game, hence the tax-free effect of the game.

Bookmakers also commonly run promotions, thanks to which, in addition to the standard odds offer for individual sports meetings are added Very high betting odds . This applies to the most attractive sports matches for fans and such an offer can be seen immediately on the main page of the bookmaker. It is worth keeping this possibility in mind, so as not to miss the increased odds and not to place a bet with the standard odds.

Betting odds it is also frequently increased in the promotions that increase the odds of accumulator bets . The terms of the promotion specify how many events must be on the coupon in order for the bookmaker to grant the odds bonus (usually other conditions for granting the bonus are also specified, e.g. the offer from which the events must come, the minimum bet rate, etc.). Promotions of this type most often reward players for betting on as many events as possible on 1 coupon . For example, a coupon with 4 events gets a 5% bonus, with 5 events – a 10% bonus, 6 Events-15%, etc. As a result, coupons containing a large number of types can really high betting odds, however, you need to be aware that the more events on the coupon, the theoretically greater the risk of losing.