Odds for certain events offered by bookmakers to their customers determine the player's potential winnings in the event of a successful prediction. They are based on the probability of the outcome of a certain event. Bookmakers use various methods of analysis:
- form of teams or participants;
- statistics of previous performances;
- conditions of the competition (weather, place of the game, etc.);
- information about injuries and missing players;
- the specification of a sports match or a political event, etc.
These and other components are then converted into coefficients, which are expressed in three main formats:
- Decimals Most popular in European countries, Australia and Canada. They make it possible to understand how much a player can get if the event he bet on is a winner. For example, a coefficient of 1.8 means that in case of a win, a bet of 100 UAH will bring 280 UAH (100 UAH * 1.80).
- Fractional Common in Misty Albion (Ireland, Great Britain, Wales). Demonstrate profit in relation to the initial rate. For example, a coefficient of 5/2 means that a bet of UAH 100 will bring a net profit of UAH 250 (UAH 100 * 5/2).
- American. Used in the USA and can be both positive and negative. Positive numbers show the profit on a bet of 100 units of currency, and negative ones - how much you need to bet to win 100 units. For example, +250 means that a bet of UAH 100 will bring a profit of UAH 250, and -150 means that to win UAH 100 you need to bet UAH 150.
It is worth bearing in mind that bookmakers add their margin to the odds to guarantee themselves a profit regardless of the outcome of the event. This means that the total probability, expressed as odds, will always be slightly less than 100%. For example, if an event has two possible outcomes with a probability of 50% each, then the true odds would be 2.00 for each outcome. However, the bookie can set odds of 1.90 (or slightly lower) for each outcome to ensure their profitability.
Bookmakers constantly adjust the odds. If many bets are placed on a particular outcome, they may lower the odds and raise on others to balance their risks. This allows them to minimize potential losses and ensure a stable profit.
How the rate is calculated
Calculation of bets in bookmakers is a process that includes several important stages. Each of them is aimed at determining the potential winnings of the player depending on the type of bet, its size and odds. Before calculating a bet, it is important to determine the type of bet. There are several main types of bets:
- Single Bet: A bet on one outcome of one event.
- Express bet (Accumulator/Parlay Bet): A bet on several outcomes of different events. The winning depends on the successful prediction of all selected results.
- System Bet: A combination of bets from different events. Even if one or more results are lost, the bet can remain a winner due to the successful prediction of others.
A single bet involves a bet on one outcome of one event. For example, a player bet 100 UAH on the victory of the team with a coefficient of 2.50. Potential winnings are calculated by multiplying the amount of the bet by the coefficient. The net profit in this case will be equal to 150 UAH (250 UAH - 100 UAH).
Express bet includes several events. All results must be guessed correctly to win. For example, if a player selects three events with odds of 2.00, 1.50 and 3.00, then the total express odds will be 9.00. If the player bets 100 UAH, the potential winnings will be 900 UAH. The net profit will be 800 UAH (900 UAH - 100 UAH).
The betting system combines different express from several events. For example, in the 2/3 system, the player chooses three events with odds of 2.00, 1.50 and 3.00. Each combination is calculated separately. If the player bets UAH 50 on each combination, the total potential winnings will be the sum of the winnings from all combinations. At the same time, even if you lose one combination, you can get a win for others.
How does the betting system work?
The system bet is one of the most popular types of bets in bookmakers, which allows players to combine several events in different variations, which increases the chances of winning, even if some events lose. It consists of several express bets on various combinations of events and winnings are possible even if one or more events are lost.
Suppose a player chooses three events with odds: 2.00, 1.50 and 3.00 and prefers a combination of 2/3. This means that if one event is a losing event, the bet will still be played alone. With a bet of 100 hryvnias, the amount will be divided into three combinations, 33.33 hryvnias for each combination.
Calculation of potential winnings for each combination:
- Combination 1 (Event 1 + Event 2): UAH 33.33 * 2.00 * 1.50 = UAH 99.99
- Combination 2 (Event 1 + Event 3): UAH 33.33 * 2.00 * 3.00 = UAH 199.98
- Combination 3 (Event 2 + Event 3): UAH 33.33 * 1.50 * 3.00 = UAH 149.99
If all events are won, the total winnings will be UAH 99.99 + UAH 199.98 + UAH 149.99 = UAH 449.96.
Advantages
- The main advantage of the betting system is the reduction of risk. Even if one or more events do not win, the player can still win through other combinations.
- A variety of variations. System bets can be various, for example, system 2/4, 3/5 and so on, which allows players to choose the most convenient option for them.
Disadvantages
- Reduced potential gain. Since the bet is spread over several combinations, the potential winnings for each individual combination will be smaller compared to single or express bets.
- Complexity of calculations. For beginners, system betting can seem complicated due to the need to calculate combinations and winnings for each of them.
The betting system is an effective tool for players who want to reduce the risk of losing and increase the chances of winning. It allows you to spread the risks between several combinations of events, which makes it more reliable compared to express bets. However, for the maximum use of this tool, it is necessary to understand the rules and methods of calculating system rates well.
Read more up-to-date information in the About section sports betting on our portal.