How to understand Sports Betting?

 

What are the betting odds?

 

We refer to the probability, which in the field of sports betting shows us, expressed by percentages, the frequency with which a certain selection is given.

 

• Sports betting odds comparator Let's exemplify it in the simplest way possible: Suppose we have a coin.

 

• When tossed into the air, the coin will have the same chance of being heads as it is being tails. In this case, translated into a percentage, each side of the coin will have a 50% chance of appearing when landing on the ground.

 

• And ... how is this percentage calculated? Well, very easy, you just have to divide 100% between the possible results, which, in this case, are two.

 

• Once we have reached this point, it will be very easy for us to understand what a quota is, since this is nothing more than the method chosen by the bookmakers to represent that probability.

 

However, the problem arises when we realize that there are several ways of expressing this probability (decimal, fractional and American). Let's take a quick look at each of them to clear up any possible doubts:

 

DECIMAL FEES

 

Also known as European; These fees are the most common and need little explanation.

 

They are always equal to or greater than one and, depending on the bookmaker that uses them, they can have 2 to 3 decimal places.

 

The profit calculation process is very simple;

 

• To obtain the gross profit you only have to multiply the amount to bet by the chosen quota

 

• While, to determine what the net profit will be, you must take the figure that represents the gross profit and subtract the amount you have invested in the selection.

 

FRACTIONAL FEES

 

This type of fee is very common in the United Kingdom and the fraction indicates the amount wagered and the net profit it represents.
For example, if we have a 7/2 odds it means that we will win 7 euros for every 2 bet.

 

If you do not have the possibility of opting for the decimal quota, which is much easier to understand, you can always do a manual conversion if you do the division that presents the fraction and subtract one from the result (in the case of a quota of 7 / 2 would be: (7/2) - 1 = 2.5).

 

AMERICAN FEES

 

As its name suggests, this quota system is the most widely used in the United States. It works in a somewhat particular way, assigning a positive or negative symbol to the fee.

 

The American fee tries to indicate how much you need to invest to earn 100 units or how much you will earn if you invest 100 units.

 

For example, if it is a negative odds of -125, it means that, to win 100 units, you will have to risk 125, while a positive odds of +125 will indicate that, in the case of investing in that selection 100 units, we will obtain a profit of 125.

 

This type of quota can be converted to a decimal system with the following formula:

 

• Negative odds: (100/125) + 1 = 1.8

 

• Positive odds: (125/100) + 1 = 2.25

 

Finally, if what you want is to know how many probabilities a quota represents, our advice is that you first convert it into a decimal quota if it is not already, and then divide 100 by the decimal quota that you are handling.

 

For example, if we divide 100 by a selection that has a decimal odds of 1.33, we will get 75, which indicates that this option has, according to the experts of the bookmakers, a 75% probability of being given.

 

How fees are calculated?

 

Surely you have asked yourself more than once the criteria that bookmakers follow when setting the odds.
Well, there are two key factors that determine the number that is assigned to each selection. These are

 

STATISTICAL CALCULATION OF PROBABILITIES

 

Bookmakers use all kinds of data and variables to weigh which selections are more likely to hit and which ones are less.

 

For this, everything is analyzed in detail, from the historical and recent trajectory of each team or player, injuries, the time of the season, who is the home or the visitor.

 

PROFIT MARGIN OF THE HOUSE

 

Obviously, sports betting companies are not NGOs, so they must implement strategies that allow them not only to sustain their business, but also to make a profit.

 

In this way, the fees are always lower than they should be in reality, since, if not, they would lose money; However, they are also careful not to offer very low figures because then the players would not bet.

 

Why do the fees vary?

 

If you have ever bet at a bookmaker or have had the opportunity to explore them, you will most likely have noticed that the odds vary from when they are fixed in the selections until the event in question begins.

 

• The movement of odds is not a whim of the bookmakers, but it is the users who, indirectly and through their bets, are modifying them.

 

• Therefore, when a large group of people bets on the same selection, it is understood that the chances of it happening are greater.

 

• This unanimity alerts platforms dedicated to betting that there may be some information that they do not know and that causes this trend in players.

 

• To avoid possible major losses, especially if that quota is greater than 2.00 or is close, it begins to fall in direct relation to the number of people who invest in it.

 

• Taking this into account, the best way to take advantage of the high odds is to bet right when they are published and they have not yet started to lose value.

 

• Also, the more left for the start of the event, the higher they will be.

 

The problem with this is that from the time we bet until the event starts, there can be circumstances that reduce our chances of winning (penalties, injuries, bad streaks, weather conditions ...) and that are very difficult to foresee in the long term.

 

Finally, we must point out that the movements of quotas during live shows are even more marked, since any minimal event is capable of modifying them.

 

So, if you want to bet while watching the event live, you have to be very fast and be very attentive to what happens to be able to take advantage of a valuable share before it is completely devalued.

 

Basic Glossary on Odds and Bets

 

Like any other sector, the field of sports betting has its own technicalities.

 

The vocabulary is vast and it is impossible to cover it in a single article, but here we bring you some of the most common terms in terms of odds and bets so that you can enter this fascinating world in a safe and conscious way:

 

BANKROLL

 

The day-to-day of the bettor, this term refers to the amount that we have to bet on.

 

Regardless of what we have, it is not recommended to bet on a time more than 25% of it; Beyond this percentage, the chances of entering a spiral that leads to bankruptcy are very high.

 

EVEN MONEY

 

Anglo-Saxon term that indicates fees of 2.00; literally ‘just like money’, which means that, with this type of odds, you will get double what you gamble as a benefit.

 

HÁNDICAP

 

Basically, they are selections that include an initial disadvantage on the scoreboard for the favorite and an initial advantage for the underdog.
Asian Handicap Betting For example, in a football match in which Barça is very favorite, we can give them a handicap of - 2 (that is, they will win the match by more than two goals).

 

With the handicaps we achieve that very low or very high odds are close to 2.00, which is still a tempting figure, and with a much greater chance of winning in the case of favorable handicaps and, in the unfavorable ones, presenting some kind of benefit that's really worth it

 

MORE / MINUS (OVER / UNDER)

 

These types of bets also vary the odds, bringing them closer to more interesting and potentially more beneficial figures.

 

These are selections that indicate that in a given event there will be more than a total number of something (tennis games, basketball points, soccer goals ...)

 

STAKE

 

Amount of money bet depending on the bankroll we have.

 

It is usually presented from 1 to 10 and although each tipster or bettor has absolute freedom to play the money at will, it is recommended that the stake 10 never exceed 10% of our funds.

 

These systems allow you to control investments in a calm way and tend to produce more benefits in the long run.

 

TRADING

 

Betting technique derived from the stock market that consists of taking advantage of the fluctuation of odds of live events to obtain benefits and offset losses.

 

VALUE

 

Quota, in the opinion of the experts, poorly assigned by the bookmakers and in which it is worth investing money, since it is considered that the benefits it reports are exaggeratedly high in relation to the probabilities of being presented by the selection.