Betting odds is the probability of the outcome of an event, which is expressed in monetary terms and includes the operator’s margin. Also this odds shows the likelihood of a particular outcome of the action from the bookmaker’s point of view. If the game is predictable, everything is simple.
Then the odds on the favorite will be low, respectively, and the winnings are small. In simple words – it is a number in the product, where there are one or more variables. It is important to know that there is an agreement to write the coefficient before the variables.
If there is no number in the product, you can put an index of 1, it will be the multiplier. Example, 6x = 6 – x, so the indicator is 6. Also, in different regions of the world, the multipliers differ from one another. And it confuses some players who do not know about it.
There is a situation where when you see the line, he does not understand what is written. In the current environment, when the gambling market is rapidly evolving, most bookmakers offer users to choose which type of odds will be reflected in its line. But just in case, it is better to know all the information. So check out all of the existing multipliers below:
- European. This is a multiplier in the form of a decimal fraction. To determine the final winnings, you only need to perform the number by the bet amount;
- British. This is a multiplier in the form of a simple fraction. This index represents the net profit. It can be obtained from one unit of the stake. For example – a multiplier of 5/3 means that for three betting points (pound, dollar, euro), the player will take five items of net profit;
- American. Has a pair of values: (-) and (+). For example, the ratio can be reflected as (-110) or (+110). Minus, indicates the size of the bet, which the player needs to do to get a net gain of 100 units (dollars). Plus, shows the size of the gamer’s clear profit at a stake of 100 points;
- Hong Kong. This is a standard European decimal. The odds reflect the net profit of the player from one unit of the bet. For example, the coefficient 0.9 shows, that at a stake of 10 points the gambler will receive a pure profit of 9 items;
- Indonesian. An analogue of the American odds. The only difference is the value; the Indonesian ratio (-1.5) will be equal to the American ratio if multiplied by 100;
- Malaysian. Similar to the American one. The minus coefficient means that the net winnings will be higher than the stake size. Plus, its pure prizes shall be less than the bet amount.
Well, now you know and you can avoid unpleasant situations. But there are a couple more points. The bigger the odds the better? The size of the multiplier depends on the probability of the event. The higher it is, the lower the odds and vice versa. Also what are the optimal coefficients in betting?
There is no unambiguous answer. The pass rate of bets with a quote of up to 1.50, according to the study, was ≈77%. However the maximum profit was received when the odds are 3.00 and higher. Much in the choice of coefficient depends on the player, his tactics and strategy.
In any case, to find or calculate the best odds in sports betting requires experience and knowledge. The knowledge you now have. Save this article and gain experience now.
Mechanism of coefficients operation
How sports betting odds work? If you are a beginner, the information below is for you. But even if you are a professional, don’t neglect and refresh your knowledge. Odds are determined by two main factors: the probability of the action and the margin.
With the first factor everything is clear: the multipliers are inverse relation to the likelihood. In other words, the higher the probability of the outcome, the lower the odds. Usually there is a favorite (leader) and an underdog (less popular opponent). When meeting, the odds of the former are always lower, and those of the underdog are higher.
As the event progresses, changes occur. The probability increases and bookmakers lower the odds. The influencing factors are extensive: bad weather on the day of the game, injury to leading players, change of coach and others. Let’s take an example from cyber sports. Vitality is playing against Estralis. The odds on Astralis winning is 2.57, Vitality won is 1.47.
| Winner | 1. Vitality beats Astralis | 2. Astralis beats Vitality |
| 1. Vitality 2. Astralis | 1.47 | 2.57 |
Vitality is my favourite. The team beat at Majors 2021, the leading CS:GO competition. Bookmakers will adjust the odds if, for example, the Astralis team takes revenge and benefits the card. And the margin is the bookmaker’s net income, which does not depend on whether the player wins or loses. The percentage of the gambler’s income is already included in all odds for each outcome and event.
Ratio calculation
How to calculate betting odds? To count the potential gain by a negative multiplier, do the following steps. You need to divide 100 by the odds, then perform the result by the bet amount. As you can see, everything is quite simple and does not take much time. To calculate the potential gain by a positive multiplier, divide the odds by 100 and perform the result by the bet amount.