It is known that sport gives us the opportunity not toonly to cheer for your favorite athlete or team, but also to earn decent money. Bookmakers take hundreds of bets every day and only a few of them become more or less profitable. So how do you get the most out of your bet? This will help the ability to use and calculate the betting coefficient. What it means and how to calculate it you can learn from this article.
What does a bookmaker do?
Bookmaker is a commercialan organization whose activity is to accept bets on sports and entertainment events. That is, the bookmaker gives everyone the opportunity to earn on the correctly guessed outcome of the bet.
The activity of the bookmaker recallsthe conclusion of a kind of monetary dispute between the player and the organization. Two main outcomes - or won, or lost. Therefore, before understanding the concept of "betting coefficient," you need to find out what bookmakers specialize in. Their main areas are football, hockey, handball, biathlon, etc. That is, all sports events, especially international ones.
With the advent of the Internet, bookmakerswent beyond the small dark rooms and began to take bets online. This also became advantageous for the players, since the comparison of the bookmaker odds of different organizations can now be made without leaving home.
What is bookmaker odds?
To bet on winning your favoriteteams need to figure out what is the probability of her winning. Bookmaker odds is a ratio that indicates the probability of a particular event occurring, according to the bookmaker. Therefore, the winning amount is calculated by multiplying the bet amount by the coefficient.
When calculating the coefficient bookmakers consider the following factors:
- the result of the previous meeting of the competing teams;
- place a team or athlete in the world ranking;
- team training level;
- status and scale of the event;
- place of event, etc.
Moreover, this coefficient may change before the start of a match or competition due to the announcement of new, previously unknown circumstances. For example, player injury, changing the location of an event, etc.
Types of betting odds
Ввиду того, что букмекерская деятельность popular around the world, and the history of bookmakers odds wide enough. But as practice shows, the most accurate are only three methods of calculation. The main types of betting odds:
- English;
- European;
- American.
And already on the basis of its type, the calculation of the bookmaker coefficients. Each of them will be described in more detail.
English coefficient
It is considered that the bookmakers come fromfrom England. Therefore, there is nothing strange in that they have their own idea of how the betting odds are calculated. English coefficients are used outside of Albion due to their convenience and ease of calculation.
The English coefficient of the bookmaker is written infractional format, for example, 30/5. The first number indicates the actual amount won, and the second - the amount of the bet. That is, by putting $ 5 to win your favorite team, you can win $ 30 with a successful outcome of the game. Also, the fractional coefficient can be converted to a probability formula. It looks like this:
% Probability = (Denominator / (Numerator + Denominator)) * 100%.
With our coefficient, the percentage of probability will be equal to:
(5 / (30 + 5)) * 100% = 14.3%.
European ratio
European ratio or decimal mostPopular among bookmakers. They are considered the simplest, which is why they are so widespread. Today, the European betting odds can be seen in the bookmakers around the world, and in many of them it is the only one.
Европейский коэффициент записывается в форме decimal number, for example, 1.74. The winning amount is calculated by multiplying the bet by the coefficient. Suppose the bet was 10 dollars, it means that the gain with the coefficient 1.74 will be equal to 17.4 dollars Consequently, the net profit will be 7.4 dollars (17.4-10). In order to immediately calculate the amount of net profit, it suffices to subtract 1 from the bookmaker coefficient and multiply the resulting value by the size of the bet. You can also find the probability percentage using the bookmaker coefficient. The probability formula is:
% Probabilities = (1 / ratio) * 100%.
In our case, the probability percentage is:
(1 / 1.74) * 100% = 57.5%.
American coefficient
Of the three main types, the American coefficientis the most difficult to understand. Most often it can be found on the territory of the United States of America. Its main difference is the statement of signs "+/-" before a numerical indicator. With the help of these signs, American bookmakers tag team favorite. If the coefficient is preceded by a “-” sign, it means that the team has the status of a favorite.
To understand the confusing American system of calculation, it is necessary to parse a clear example. Suppose given:
- Positive odds are +170 for a draw and +200 for a win.
- Negative - - 130.
This means that when betting on a positive ratio, the player must put $ 100 to get 170 or 200 dollars of net profit.
When betting on a negative coefficient, the player must bet $ 130 to get a profit of $ 100.
American bookmaker odds, like English and European, can be converted into a probability formula.
The formula for a positive ratio:
% Probability = 100% * ((- (negative coefficient)) / (- (negative coefficient) +100))
100% * (- (- 130) / - (- 130) +100) = 100% * (130/230) = 56.5%.
The formula for the negative coefficient:
% Probabilities = 100% * 100 / ((position) +100)
100% * 100/170 + 100 = 37%.
Betting odds comparison
Today there is a hugethe number of bookmakers, in which the coefficients may vary significantly. To extract the maximum income from a bet, the player can use online services to compare bookmaker odds. As a rule, they do not require a separate fee for the services provided. All the user needs to do is go through the simple registration process.
Advantages of using betting odds comparison services:
- Opportunity to bet on the maximum ratio and, accordingly, to extract the maximum profit.
- Save time by eliminating the need to independently compare the lines of coefficients.
- A convenient and safe way to search for plugs.
It is best to choose a service that scans the largest number of bookmakers and has a high speed of response to changes in current ratios.
