How are odds calculated at sportsbooks?
There are only a few days left before football starts in Europe. The main leagues in the world will premiere between the middle and the end of August and, for this reason, today we invite Santiago Villahoz, a specialist in odds at sports betting houses. Santiago will show us with real examples of Apuestas Club, how the odds are calculated and will help us understand this interesting and wonderful world of sports betting. Click here to know more about https://22bet.ng/line/
HOW DO THE ODDS WORK IN BETTING HOUSES?
Have you ever wondered how likely your team is to win the tournament? The odds, those numerical values that appear on the lines, are what will allow you to do the calculation. And, since there is no better way to understand than using concrete examples, we will move on to it.
PROBABILITY: DIVIDE 100 BY THE ODD
It is very important first of all to choose a safe and reliable bookmaker, which are the ones that usually have the best odds. We are going to review the odds for La Liga champion. Suppose Barcelona pays @1.75. To calculate the probability, 100 is divided by the odds, which gives us the result that Messi’s team has a 57.14% chance of winning (100 / 1.75 = 57.14).
Let’s go with another example, now putting a specific case. Imagine that you are a fan of Everton, and you want to bet that they will be champions of the Premier League. Let’s imagine that his odds are @16.00, so if you bet 1 euro, and he is champion, you will win 16 euros. Now if you bet 100 euros, you will win 1600, and so on. In any case, you should not worry too much about this equation, since on the pages that we recommend, once you fill in the box with your amount, the amount to win automatically appears.
LET’S ANALYZE NOW A MATCH
Let’s go with Manchester United vs Leicester Ciy. As we can see, there are three possible results: victory for Manchester, draw or victory for Leicester. If you bet 100 euros on the victory of Manchester, you multiply 100 x 1.45 and it gives us 145 (you recover the 100 bet and add 45). You must make the same account with each event that interests you, always multiplying the amount by the chosen fee.
WHAT ELSE CAN WE BET?
The traditional bet consists, generally, of betting on how a match turns out, if the local wins, the visitor wins or it is tied. But there is a world of possibilities to choose from, among them, the option number of goals that will be in the game, also known as Over (more) and Under (less). Sometimes it happens that it is not clear how the game will turn out, but you are confident that there will be many or few goals, so you should see the “More” and “Less” options. Let’s go with the example. Imagine that you think that in Manchester vs Leicester there will be 2 or more goals. So you bet the +1.5 goals (1.30), which indicates that there will be at least two. The same, but the other way around for when you think there will be fewer goals, if you think there will be just one goal, then the price you are interested in is -1.5, which, as we can see, is paid @3.30.
HOW MUCH MONEY TO BET?
Special care here, our experience in football predictions at Apuestas Club leads us to recommend that you never bet more than 5% of your bankroll. It is common to get excited about the hypothetical amount to win before it occurs and therefore put a large sum. Your objective is not only to win that bet, it is to win the following ones, and for this it is very important to take care of your bankroll.
HAVE YOU PLANNED YOUR STRATEGY?
In general, bad experiences are the product of the little knowledge with which one enters this field. We invite you to tell us what impressions this article left you, to share your doubts, suggestions, observations and more, in order to assist you and your friends in the wonderful universe of betting.