Every new bettor is faced with a lot of terms. One of the main ones is the term “odds”. This is the data of the bookmaker’s calculations, which are used to evaluate each bet in the line.
You can calculate the coefficient for different events yourself. If the bet turns out to be a winner, then the size of the winnings will depend on the odds.
The odds themselves in betting show the probability of a particular outcome for a particular event. The lower the probability of an outcome option, the higher the odds will be. This is an inversely proportional relationship. At the same time, the higher the risk, the higher the coefficient.
How do I calculate odds?
Large bookmakers have their own analytics departments. They employ specialists who calculate the probabilities of different outcomes and determine the chances of winning. The more accurate and professional the odds are, the greater the success of the bookmaker, and the greater the amount of his profit.
There are two ways to make the calculation:
- heuristic;
- Analytical.
Even beginners will be able to figure out the heuristic option. This method is based on the opinions of other players, analysts and professional experienced forecasters, and their detailed study.
The analytical type of calculation provides for obtaining a result by considering statistics. This method is more often used by professional bettors.
You need to understand that the odds that are set on the line of different bookmakers contain a margin. It refers to the profit that has already been pledged. This means that the actual probability of the outcome of the event is higher than stated by the odds.
How do I calculate my winnings?
Let’s take a look at how to correctly calculate the possible winnings when playing bets. It’s easy to do. All Russian offices operate according to a single European algorithm. To calculate the winnings, they offer to multiply the bet amount by the numerical coefficient indicated in the line.
For example, we bet on the Liverpool-Chelsea football match. The bet amount is 200 rubles, and the odds are 1.70. Then:
- 1,70*200=140.
If we win, we will receive 140 rubles.
Judging by the line, the Liverpool team has a slight advantage over the Chelsea team. If the outcome of the game is the victory of the second team or a draw, then the bet loses.
It is important to keep track of changes in odds, which can be influenced by different circumstances:
- injuries to players;
- weather changes;
- Trials.
These are significant points that can affect the probability of winning and its amount.