The calculus behind the bookmakers' odds
- Author Dania Cuibus
- Published January 16, 2015
- Word count 506
For those that regularly place sports bets have come to consider the odds the most important thing. But how many of you have actually wondered who exactly makes these odds? You just go to the bookmaker and see a value offered for a team and take it as such? How is it possible to establish whether a team is more likely to win or lose? My article will contain the basic ideas of betting odds and how are they offered.
I am positively sure that you know what odds represent in general, if the odds are low then it mean that the team with that certain value has high chances of winning while a team with high odd are the underdogs, being clear to everyone that they don't stand a chance. The basic idea is that a bookmaker makes this odds regarding the bets people place and let me give you an example. In a match between two strong team that are likely to win, they both receive the odds of 2.00. As people bet the odds chance, if most people bet on one team as the favorite to win, the odds for that particular team will drop and the odds for the underdog will rise, thus ensuring the bookmaker a sort of balance, meaning that regardless the result, the "house" won't be losing any money.
The above example, how can a bookmaker know what odds to offer. Behind each bookmaker there are people that analyze matches looking for past results, absentee players and interest. To be honest, in most cases it is not that hard to predict it, if a team is more motivated to win, the lower the starting odds become. This thing is purely as a suggestion, the bookmaker changing the odds, as I have said above so to ensure a constant win of the "house".
Of course, behind the odds calculus can also be a machine, a program designed specifically to calculate the odds based on the data introduced. But this does not mean that they are right. There were cases in which people saw something that the bookmaker didn't and thus the value bet appeared. You have to understand that the purpose of the bookmaker is not to lose money, so regardless you win, rest assured that more people have lost because they have trusted the odds published by the bookmaker.
It is recommended before placing any bet to make an own match analysis for which you can later choose the best tip. There are numerous website over the internet with match analysis, such as mybetinfo.com where you can get all the info you need. The bookmaker perceives a fee from your bet, but as long as you have made a thorough analysis, you can be sure to win, as long as you win money, the sum won by the bookmaker based on your tips is irrelevant. Another important piece of information that comes in handy is to check several bookmakers for the odds offered, thus ensuring you win more money.
I have always enjoyed sports betting and I wish to share everything I know with the rest of the world. My website is http://mybetinfo.com/Article source: http://articlebiz.com
There are no posted comments.
- How To Win IDN Play ?
- Are Online Casinos the Future of Gambling?
- The Importance of Blackjack Online
- Understanding Betting Odds For Successful Online Gambling
- How to Play Baccarat
- The Game of Blackjack Online and Its Popularity
- Gambling is all about chemistry in your brain
- The Benefits of RTG Casinos
- Love of Online Slot Machines
- 5 Things to do Before Playing Online Poker
- Technological Innovations and Development of New Games
- Slot Machines - How They Work
- Online Bingo Game Secrets
- BetVision - The main sponsors of Team Singapore at the upcoming IFMP Asia Nations Cup!
- How to Win Blackjack - A Guide
- Roulette: History & Origins
- Wizard Of Oz Slot Game
- The Future of Online Gambling and AI
- And The Journey Begins
- Everything you need to know about Sbobet Malaysia.
- How I Turn Promotions Into Risk-Free Cash, And You Can Too.
- Read This Before Involving in Online Gambling
- Is Playing Slots Online Safe and Fair?
- Learn how to predict football matches successfully
- Most Famous Fictional Gambling Characters
- Popular Characters in Slot Games
- 4 Tricks Casinos Use To Make You Spend More
- Tips for choosing the right Casino Deposit Methods
- How Casinos Are Changing the Culture?
- Matched Betting for Dummies