How Betting Odds Are Calculated For Soccer Betting?

The winnings are calculated by multiplying the time of used betting odds. But how actually the betting odds is even about?

The odds at online bookmakers are placed in the bookmaking department. The bookmakers have to estimate the probability of the occurrence in an event. To accompany these estimates results in the betting odds.

First is the bookmakers called “fair odds” on.

In order to illustrate the advantages and computing courses follow the example of a 3-way bet, and 1-X-2-bet called off.

We assume that the bookmaker estimates the occurrence (s) as follows:

Event Probability of occurrence (s) Declaration
Team 1 e = 68% Team 1 wins with probability of 68 percent.
Draw e = 20% Match ends with 20% chance to draw.
Team 2 2 = 12% Team 2 wins with probability of 12 percent.

 

If you add up the probabilities of the three possible endings (68 + 20 +12), then there are a total of 100 percent.

The fair rate is now calculated from the formula: Fair Odds = 100 / s

In our example, the results are as in the following ratios:

Event Fair rate computation Declaration
Team 1 1.61 Fair rate = 100/68 Fair betting odds = 100 / e – e is in Example 68
Draw 3.70 Fair rate = 100/20 Fair betting odds = 100 / e – e is in Example 20
Team 2 9.09 Fair rate = 100/12 Fair betting odds = 100 / e – e is in Example 12

* Rates have been rounded to two decimal places

The so-called “fair odds” makes the bookmaker’s real rates, as the bookmakers could make no gains at fair odds, because the loser would have to pay all the money to those who have won a bet.

The fair rate is multiplied with a value, therefore less than 1.

The formula for real rates would be: Reliable betting odds betting odds x = Fair (number <1)

Multiplying the fair betting odds, the bookmakers with 0.9, this means that 90 percent of the stakes again pours out. It keeps an even 10 percent. In 0.8 it would retain 20 percent of the bets and pay out 80 percent as profits.

To illustrate, we consider re zoom our example:

Event Fair rate Real rate Formula Computation example
Team 1 1.61 1.45 Fair rate x (number <1) = real rate 1.61 x 0.9 = 1.45
Draw 3.70 3.33 Fair rate x (number <1) = real rate 3.70 x 0.9 = 3.33
Team 2 9.09 8.18 Fair rate x (number <1) = real rate 9.09 x 0.9 = 8.18

*Rates have been rounded to two decimal places

This shows that a bookmaker for sports betting pay back a large part of the sales to the customers and only a small part of the operations deducts as profit. With the retained operations, refinance the Bookie’s expenses, such as personnel costs, costs for the preparation of the site, etc.

As explained above, there are odds of certain formulas. However, these have always assessing the bookmakers for the chance of an event as a basis.

This means that the bookmaker, often simply called Bookie always remain on current sporting events at the date and have a good knowledge. So it might happen that the bookmakers make big losses on a bet.

In general, the odds for favorites are longer recognized before an event is relatively high, since a large part of the (high) bets are made ​​on the favorite and therefore the odds are reduced when reaching certain limits to the overall risk.

For bettors, this means that they can use a favorite bet typically to generate higher profits if they make it as long as possible before the sporting event.

How Betting Odds Are Calculated For Soccer Betting?
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