Arbitrage betting: The betting system that guarantees a win with every bet. Sports betting, in recent years, have evolved in leaps and bounds – from the traditional sportsbook house in our neighborhoods to online sports betting websites like Sbobet.org. And as a result of this evolution, many players have started flocking in. And as we all know, wherever there’s a multitude of persons, many innovative strategies are bound to be discovered. In the world of sports betting, the “arbitrage betting” is one such strategy. So what exactly is it, and how does it work? What is arbitrage betting? Although the general consensus in the betting world is that nothing is assured as far as betting goes, the arbitrage betting strategy actually begs to differ. In fact, the sort of guarantee it assures is so certain that a player is bound to win almost every time. Otherwise known as “arb betting” or “arbing,” arbitrage betting is a simple betting strategy that involves placing bets on every possible outcome of an event. While most regular punters often place their bets on either side to win, lose or draw, arbitrage betting requires that you place your money on every possible scenario. Now, that must be sounding like a counterintuitive idea already. How could you ask a player to place their money on different outcomes? On the one hand, that would cost more money, and on the other hand, whatever winnings they generate would never be enough to offset the costs they’ve incurred. So, arbitrage betting doesn’t sound too appealing, after all. Well, before you rush to nail it to the cross, let’s see how it really works first. What is betting market price? Before going into the discussion of how arbitrage betting works and how you can leverage it to make money, it is important that we talk about a subject first – market price. What is market price? You may wonder. In simple terms, the market price is the odds value that is currently available on various betting platforms or even at another bookmaker. Normally, a bookie will try and offer odds that are lower than the market price, which is how they make their money, which is also a situation known as “bookmakers overround.” Now, in order for arbing to work, it is important that a punter first spots the arb bet floating around. Usually, many bookies post higher odds (that is, odds higher than the market price) to attract new customers, but only for a short while. Now, after this brief spell, these odds are brought in line with the market price, to equalize those of other bookies. How does arbing work? As earlier mentioned, arbing is a process of placing bets on every possible outcome of an event, in a bid to turn a profit in the end. Quick case study one; A simple example of this can be seen in the case of a football match, which usually has three possible outcomes – win, draw, or lose. No, while arbing, a punter would have to place a bet on each of these possibilities, that is, bet on team A to win, place another bet on team B to win, and lastly place a bet on the match to end in a draw. If it was tennis, however, a punter would only have to bet on two scenarios, that is, bet on each player to win. Now, here is where the trick of this strategy comes in. In order to turn a profit at the end of the day, punters cannot and shouldn’t place all of their at bets just one bookmaker. The reason is that when you place all three or two bets at just one bookmaker, you’re already setting yourself up for a loss and condemning your bankroll to jail already. Because, bookmakers always set their odds to balance out, in order to give themselves a chance to make profits. So, when you pour all your eggs in one basket, you’d virtually guarantee a loss. Quick case study two; Let’s say in a tennis game, the odds on player A to win are 1.87, and the odds on player B to win are also 1.87. Now, let’s assume that a punter places a bet of $100 on each of these outcomes, their total bet cost would be $200. But their possible return on any winning event is $187, including their initial stake. So regardless of who won, the punter would walk home with a loss of $13. This has happened because the punter chose to stick with just a bookie for all their bets. For arbing to work, you need to visit different bookie for every one of your bets. The reason for this is that different bookies will have different ideas about a game and its outcome. As a result, they are all bound to post different odds, which is actually an opportunity for any willing punter to turn some decent profits. So take a look at case study 2 from an arbing angle: Odds on bookie 1: Player A to win is 1.87, and player B to win is 1.87. Odds on bookie 2: Player A to win is 1.65 and player B to win is 2.24. Now, when you arb, you may place a bet on player A to win with bookie 1 and another bet on player B to win with bookie 2. From this, you can clearly see the potential for profit developing gradually. Although your total outlay would still be $200, you can then wager $110 on player A to win on bookie 1 and wager $90 on player B to win on bookie 2. If 1A wins: $109 x 1.87 = $203.83. If 2B wins: $91 x 2.24 = $203.84. From the above case study, it’s glaring that you’ll always make a profit regardless of the outcome. But keep in mind that arbitrage betting can only happen when the right set of opportunities are available. Luckily the odds on various sporting events can vary enough between different bookies to create plenty of these opportunities. Downsides. This strategy has the following downsides: Harder to win big money if you don’t have a pretty big bankroll. But if you do, you can stake big money to earn big returns. Works best for a two-outcome game like tennis. Although it can work for a triple outcome game like football too, it will require much work and calculations. Punters have to be pretty fast with their bets because these opportunities may only be up for a few minutes.
4 Proven Betting Systems That Work in 2021. I remember when I first started searching for a proven betting system googling the term “ betting systems .” There was all sorts of progressive staking systems , martingale systems, stop at a winner systems, progressive laying systems. The fact was though that none of these betting systems held up to any long term analysis and would normally blow your bank if you followed them for long enough. But after researching a bit longer I found a few betting systems that did actually work. Here are four betting systems that I have used over the years. Which continue to be profitable in the year 2021. Proven Betting System 1 – Arbitrage Betting. Table of Contents. Sports Arbitrage betting is something that I still use on the occasion as part of my portfolio . Arbitrage betting involves covering every outcome of an event. In order to guarantee a profit no matter the outcome. Here is an example of a number of arbitrage bets found using the software rebelbetting. For example if we take one of the arbitrage bets above. There is a 3.7% arbitrage bet between The New Saints and Bala in the Welsh division. In the draw no bet market The New Saints could be backed at 1.53 with Marathonbet and Bala could be backed at 3.2 with William Hill. For every £100 risked across both outcomes a profit of £3.7 could be guaranteed. With arbitrage betting you can make several of these bets every day and gradually build up your bankroll with almost zero risk. It is a system that once you understand can be used again and again. Negatives of arbitrage betting? The only issue with arbitrage betting is that it has a limited life cycle. Bookmakers will eventually limit arbitrage bettors accounts once they see that they are not going to be profitable customers. Arbitrage betting is a great way to build up a betting or trading bankroll. Before you move on to betting or trading with exchanges and Asian bookmakers. Proven Betting System 2 – Value Betting. Value betting is similar to arbitrage betting as it involves exploiting the soft bookmakers. A value bet involves looking for odds that are out of line with the sharp Asian Bookmakers or betting exchanges. Given that the odds at sharp bookmakers and betting exchanges are quite efficient in big markets. The betting exchanges and sharp Asian bookmakers often offer close to the true odds of an event. Sometimes when there is odds movement on these events soft bookmakers will be slow to move their odds. Consistently betting on odds above the Asian bookmakers and betting exchanges has proven to be profitable. The advantage that value betting has over arbitrage betting is that you generate a much higher turnover and use lower stakes which may make your accounts last longer then conventional arbitrage betting. A lot of bookmakers will also offer value accumulators often on a weekly basis as part of odds boosts or special promotions. Negatives of value betting? Again the only downside to consistently taking value bets is that soft bookmakers will eventually see that you are able to make money from them and will limit or close your account. However if you plan to make money from sports betting. Getting banned from soft bookmakers is going to happen whichever way you choose to make money from them. Proven Betting System 3 – Matched Betting. The popularity of matched betting has exploded in the last few years and with good reason. Matched betting is probably one the best and easiest ways to generate a good second income online. It involves taking advantage of bookmaker offers to guarantee a profit much like arbitrage. The big advantage that matched betting has over arbitrage is that is a lot less obvious and harder for bookmaker’s employed traders to spot. I have covered matched betting in a lot more detail in this article below. Negatives of matched betting? There isn’t many downsides to matched betting. Bookmakers will stop giving you promotions eventually. But as discussed before this is what happens when you become a profitable sports bettor. So there you have 3 proven betting systems that are currently working in 2020. Which should also prove be profitable in the long term. Each of these betting systems involve exploiting soft bookmakers. This is really the best way to start making money from the sports betting markets and allows you to build up a nice trading bankroll or good second income. Proven Betting System 4 – Betting On Team News. One proven betting strategy that you might know is reacting quickly to team news. Odds can rapidly change on the basis of team news, if you have a good knowledge of the teams that are playing. Then you will often be able to secure yourself a value bet. Here is a good example of how odds can change when a teams lineup is announced. In this example I have highlighted the point at which team news was announced. This was a Europa League between Arsenal and Standard Liege. Arsenal announced a weaker side then expected, from this news the odds on Arsenal drifted quite significantly before the game started. If you were familiar with the teams and reacted to the information you would have been able to secure yourself a value bet on Standard Liege. Due to the fact that Arsenal’s odds were drifting so the odds on the draw and Standard Liege would have to shorten. This is a really effective strategy and if you have access to betting exchanges you can often secure yourself a profit before the game even starts. Here are two videos which explain this strategy in more detail. Which betting systems have you found to work best? Are there any that are missing from this list?
Arbitrage betting: The betting system that guarantees a win with every bet. Sports betting, in recent years, have evolved in leaps and bounds – from the traditional sportsbook house in our neighborhoods to online sports betting websites like Sbobet.org. And as a result of this evolution, many players have started flocking in. And as we all know, wherever there’s a multitude of persons, many innovative strategies are bound to be discovered. In the world of sports betting, the “arbitrage betting” is one such strategy. So what exactly is it, and how does it work? What is arbitrage betting? Although the general consensus in the betting world is that nothing is assured as far as betting goes, the arbitrage betting strategy actually begs to differ. In fact, the sort of guarantee it assures is so certain that a player is bound to win almost every time. Otherwise known as “arb betting” or “arbing,” arbitrage betting is a simple betting strategy that involves placing bets on every possible outcome of an event. While most regular punters often place their bets on either side to win, lose or draw, arbitrage betting requires that you place your money on every possible scenario. Now, that must be sounding like a counterintuitive idea already. How could you ask a player to place their money on different outcomes? On the one hand, that would cost more money, and on the other hand, whatever winnings they generate would never be enough to offset the costs they’ve incurred. So, arbitrage betting doesn’t sound too appealing, after all. Well, before you rush to nail it to the cross, let’s see how it really works first. What is betting market price? Before going into the discussion of how arbitrage betting works and how you can leverage it to make money, it is important that we talk about a subject first – market price. What is market price? You may wonder. In simple terms, the market price is the odds value that is currently available on various betting platforms or even at another bookmaker. Normally, a bookie will try and offer odds that are lower than the market price, which is how they make their money, which is also a situation known as “bookmakers overround.” Now, in order for arbing to work, it is important that a punter first spots the arb bet floating around. Usually, many bookies post higher odds (that is, odds higher than the market price) to attract new customers, but only for a short while. Now, after this brief spell, these odds are brought in line with the market price, to equalize those of other bookies. How does arbing work? As earlier mentioned, arbing is a process of placing bets on every possible outcome of an event, in a bid to turn a profit in the end. Quick case study one; A simple example of this can be seen in the case of a football match, which usually has three possible outcomes – win, draw, or lose. No, while arbing, a punter would have to place a bet on each of these possibilities, that is, bet on team A to win, place another bet on team B to win, and lastly place a bet on the match to end in a draw. If it was tennis, however, a punter would only have to bet on two scenarios, that is, bet on each player to win. Now, here is where the trick of this strategy comes in. In order to turn a profit at the end of the day, punters cannot and shouldn’t place all of their at bets just one bookmaker. The reason is that when you place all three or two bets at just one bookmaker, you’re already setting yourself up for a loss and condemning your bankroll to jail already. Because, bookmakers always set their odds to balance out, in order to give themselves a chance to make profits. So, when you pour all your eggs in one basket, you’d virtually guarantee a loss. Quick case study two; Let’s say in a tennis game, the odds on player A to win are 1.87, and the odds on player B to win are also 1.87. Now, let’s assume that a punter places a bet of $100 on each of these outcomes, their total bet cost would be $200. But their possible return on any winning event is $187, including their initial stake. So regardless of who won, the punter would walk home with a loss of $13. This has happened because the punter chose to stick with just a bookie for all their bets. For arbing to work, you need to visit different bookie for every one of your bets. The reason for this is that different bookies will have different ideas about a game and its outcome. As a result, they are all bound to post different odds, which is actually an opportunity for any willing punter to turn some decent profits. So take a look at case study 2 from an arbing angle: Odds on bookie 1: Player A to win is 1.87, and player B to win is 1.87. Odds on bookie 2: Player A to win is 1.65 and player B to win is 2.24. Now, when you arb, you may place a bet on player A to win with bookie 1 and another bet on player B to win with bookie 2. From this, you can clearly see the potential for profit developing gradually. Although your total outlay would still be $200, you can then wager $110 on player A to win on bookie 1 and wager $90 on player B to win on bookie 2. If 1A wins: $109 x 1.87 = $203.83. If 2B wins: $91 x 2.24 = $203.84. From the above case study, it’s glaring that you’ll always make a profit regardless of the outcome. But keep in mind that arbitrage betting can only happen when the right set of opportunities are available. Luckily the odds on various sporting events can vary enough between different bookies to create plenty of these opportunities. Downsides. This strategy has the following downsides: Harder to win big money if you don’t have a pretty big bankroll. But if you do, you can stake big money to earn big returns. Works best for a two-outcome game like tennis. Although it can work for a triple outcome game like football too, it will require much work and calculations. Punters have to be pretty fast with their bets because these opportunities may only be up for a few minutes.
4 Proven Betting Systems That Work in 2021. I remember when I first started searching for a proven betting system googling the term “ betting systems .” There was all sorts of progressive staking systems , martingale systems, stop at a winner systems, progressive laying systems. The fact was though that none of these betting systems held up to any long term analysis and would normally blow your bank if you followed them for long enough. But after researching a bit longer I found a few betting systems that did actually work. Here are four betting systems that I have used over the years. Which continue to be profitable in the year 2021. Proven Betting System 1 – Arbitrage Betting. Table of Contents. Sports Arbitrage betting is something that I still use on the occasion as part of my portfolio . Arbitrage betting involves covering every outcome of an event. In order to guarantee a profit no matter the outcome. Here is an example of a number of arbitrage bets found using the software rebelbetting. For example if we take one of the arbitrage bets above. There is a 3.7% arbitrage bet between The New Saints and Bala in the Welsh division. In the draw no bet market The New Saints could be backed at 1.53 with Marathonbet and Bala could be backed at 3.2 with William Hill. For every £100 risked across both outcomes a profit of £3.7 could be guaranteed. With arbitrage betting you can make several of these bets every day and gradually build up your bankroll with almost zero risk. It is a system that once you understand can be used again and again. Negatives of arbitrage betting? The only issue with arbitrage betting is that it has a limited life cycle. Bookmakers will eventually limit arbitrage bettors accounts once they see that they are not going to be profitable customers. Arbitrage betting is a great way to build up a betting or trading bankroll. Before you move on to betting or trading with exchanges and Asian bookmakers. Proven Betting System 2 – Value Betting. Value betting is similar to arbitrage betting as it involves exploiting the soft bookmakers. A value bet involves looking for odds that are out of line with the sharp Asian Bookmakers or betting exchanges. Given that the odds at sharp bookmakers and betting exchanges are quite efficient in big markets. The betting exchanges and sharp Asian bookmakers often offer close to the true odds of an event. Sometimes when there is odds movement on these events soft bookmakers will be slow to move their odds. Consistently betting on odds above the Asian bookmakers and betting exchanges has proven to be profitable. The advantage that value betting has over arbitrage betting is that you generate a much higher turnover and use lower stakes which may make your accounts last longer then conventional arbitrage betting. A lot of bookmakers will also offer value accumulators often on a weekly basis as part of odds boosts or special promotions. Negatives of value betting? Again the only downside to consistently taking value bets is that soft bookmakers will eventually see that you are able to make money from them and will limit or close your account. However if you plan to make money from sports betting. Getting banned from soft bookmakers is going to happen whichever way you choose to make money from them. Proven Betting System 3 – Matched Betting. The popularity of matched betting has exploded in the last few years and with good reason. Matched betting is probably one the best and easiest ways to generate a good second income online. It involves taking advantage of bookmaker offers to guarantee a profit much like arbitrage. The big advantage that matched betting has over arbitrage is that is a lot less obvious and harder for bookmaker’s employed traders to spot. I have covered matched betting in a lot more detail in this article below. Negatives of matched betting? There isn’t many downsides to matched betting. Bookmakers will stop giving you promotions eventually. But as discussed before this is what happens when you become a profitable sports bettor. So there you have 3 proven betting systems that are currently working in 2020. Which should also prove be profitable in the long term. Each of these betting systems involve exploiting soft bookmakers. This is really the best way to start making money from the sports betting markets and allows you to build up a nice trading bankroll or good second income. Proven Betting System 4 – Betting On Team News. One proven betting strategy that you might know is reacting quickly to team news. Odds can rapidly change on the basis of team news, if you have a good knowledge of the teams that are playing. Then you will often be able to secure yourself a value bet. Here is a good example of how odds can change when a teams lineup is announced. In this example I have highlighted the point at which team news was announced. This was a Europa League between Arsenal and Standard Liege. Arsenal announced a weaker side then expected, from this news the odds on Arsenal drifted quite significantly before the game started. If you were familiar with the teams and reacted to the information you would have been able to secure yourself a value bet on Standard Liege. Due to the fact that Arsenal’s odds were drifting so the odds on the draw and Standard Liege would have to shorten. This is a really effective strategy and if you have access to betting exchanges you can often secure yourself a profit before the game even starts. Here are two videos which explain this strategy in more detail. Which betting systems have you found to work best? Are there any that are missing from this list?
College basketball picks, schedule: Predictions, odds for Duke vs. North Carolina and other key games. The action Saturday is super and loaded with quality games our experts have broken down to predict who wins. Saturday looks like it could be a big day for college basketball. And if it goes anything like this last few days have gone, we could see a wild day on the hardwood. We've already seen 10 ranked teams -- including five in the top-10 and eight in the top-16 -- take losses this week in the sport. So with 17 ranked teams in action Saturday, there's bound to be some high-profile teams stumble in similar fashion. On tap for the day include ranked matchups in the SEC, Big 12 and Big Ten with real conference title implications at stake as the regular season slowly grinds to a halt. Our staff has convened once again to lay out our picks for the day ahead, so keep scrolling to get against the spread and straight up advice to fade or follow as you wish. Jonathan Coachman is joined by Mike McClure to dish out the best bets in the NBA and College Basketball for Saturday on The Early Edge. Download and subscribe to The Early Edge on Apple Podcasts and Spotify.
Sections. Advertisement. Minnesota Vikings Super Bowl odds: Dalvin Cook makes Vikes dangerous. Share this article. The Minnesota Vikings (2-5) are in last place in the NFC North; however, they just beat the first-place Green Bay Packers (5-2) at Lambeau Field 28-22 as 5.5-point underdogs in Week 8. Below, we analyze the midseason 2020 Minnesota Vikings Super Bowl odds , odds of winning their division as well as NFL futures and opine on whether they’re worth a Super Bowl futures bet at this time. Latest Vikings 2020 Super Bowl odds. Odds via BetMGM; access USA TODAY Sports’ betting odds for a full list. Lines last updated Tuesday at 8:35 a.m. ET. RB Dalvin Cook (652 rushing yards, 10 TDs) has been the Vikings’ star through the first half of the season. His 652 yards rank second in the NFL, behind only Tennessee Titans RB Derrick Henry (775 yards, 8 TDs), who has played one more game. Cook ran for 163 yards with 4 total touchdowns in the Week 8 win against the Packers. He had a season-high 181 yards with just 1 score in a 31-30 loss to the Titans in Week 3. QB Kirk Cousins has completed 65.6% of his passes for 1,635 yards and 12 touchdowns with 10 interceptions. His top receivers have been rookie Justin Jefferson (563 yards, 3 TDs) and Adam Thielen (442 yards, 7 TDs). On defense, LB Eric Kendricks is third in the NFL with 78 tackles. As a team, the Vikes are yielding 30.6 PPG to rank 29th. The Vikings are 4-3 against the spread with a 5-2 Over/Under record. Place your legal, online NFL bets in CO, IN, NJ, TN and WV at BetMGM , The King of Sportsbooks. New customer offer: Risk-free first bet! Terms and conditions apply. Bet online now ! Vikings division betting odds. The Vikings have already played the Packers twice, but they still have two games apiece against the Bears and Lions. The first Bears matchup is a Monday nighter in Chicago in Week 10. Meanwhile, the Packers and Bears haven’t played yet – they’re scheduled to meet in Weeks 12 and 17. Outside of the division, the Vikings have two tough road games: At the Tampa Bay Buccaneers (6-2) in Week 14 and at the New Orleans Saints (5-2) in Week 16 on Christmas Day. Vikings futures picks and predictions. Also see: Follow @JohnnyParlay11 on Twitter. Follow SportsbookWire on Twitter and like us on Facebook . Gannett may earn revenue from audience referrals to betting services. Newsrooms are independent of this relationship and there is no influence on news coverage.
Sections. Advertisement. Rams' Super Bowl LVI odds spike after landing Matthew Stafford. Share this article. The Los Angeles Rams came up short of reaching the Super Bowl this year, losing to the Green Bay Packers in the divisional round of the playoffs. Their outlook next season is far better than it was before the 2020 campaign began, projecting to once again be one of the top teams in the NFC. They look even better now after acquiring Matthew Stafford from the Lions, improving the roster in the immediate future despite sacrificing future capital by giving up three draft picks. Since trading for Stafford, the Rams’ Super Bowl odds have improved. That’s a substantial jump, and it shows the effect that Stafford could have on the Rams. Despite having to give up two first-round picks, thus potentially hurting the team long-term, Stafford is an immediate upgrade over Goff. As long as the defense continues to perform like a top-10 unit and the offense improves under Stafford, the Rams will be a tough team to beat in 2021.
Sections. Advertisement. What are the odds the Minnesota Vikings will win Super Bowl LV? Share this article. Do the Minnesota Vikings have what it takes to win it all this year? We look at the sports betting odds around their chances of being the 2021 Super Bowl champions. The joy of the preseason is that all fan bases – OK, almost all of them – have hope their favorite team will be holding the Lombardi Trophy at the end of the year. However, there can only be one… Minnesota Vikings Super Bowl LV odds. Are you new to sports betting? Future odds like these give sports bettors, both experienced and casual, the opportunity to place an early wager on the team(s) they think will be this season’s NFL champion. As the year passes, the odds will move – the better a team becomes in the eyes of the oddsmakers, the shorter the odds will become. The worse a team looks, the longer the odds will be. If a team starts to receive a large number of bets on them, sportsbooks will also start to move the lines up and down to help cover their bases, too. By placing a bet early, it gives you the opportunity to receive a better potential return on your wager assuming those odds will later become shorter and, more importantly, less profitable. Looking to place a bet on next year’s Big Game? Place your legal sports wagers online at BetMGM. Bet now! When is Super Bowl LV? The 2021 Super Bowl, which will be the 55th Super Bowl, is slated for Sunday, February 7, 2021. The game is scheduled to be played at Raymond James Stadium in Tampa, FL. Gannett may earn revenue from audience referrals to betting services. Newsrooms are independent of this relationship and there is no influence on news coverage.
Sports Betting Odds. Sports Betting Odds Explained. Many people don’t know how to read or calculate sports betting odds, so below we have done our best on explaining how betting odds work. The most common type of sports betting odds used in North America are the American style odds which we explain below. American Style Sports Betting Odds. Most online sportsbooks will list their odds in what is called “American Odds”. There are a couple different versions of sports betting odds, but these American Odds are the most common odds used. Reading and understanding sports betting odds can bet a little confusing to beginners, so we have provided an example below using two NFL football teams: American Odds. The number shown in the bracket represents the odds. The American Odds have two components to them, the first being the positive or negative sign, and the second being the number that follows the sign. The next step is figuring out exactly how much the bet pays out, which is where the numbers in the odds come into play. A listed odd with a – sign in front of it, such as the -140 in our example above, shows us how much money you would need to wager in order to win $100. So using the -140, this would show us that you would need to bet $140 in order to win $100 in profits. You can easily substitute the $100 bet for a $10 bet by moving the decimal place over one spot, showing us that you would need to wager $14 in order to win $10 in profits. Examples: Examples: Below is an example of NFL betting odds taken from an online betting site. The great thing about betting online is that the online sportsbooks will do the calculations for you before you place your bet. You can click on the outcome or team you would like to bet on, and then input the amount you wish to wager and it will show you your potential pay out before you confirm your bet. Ready To Start Betting? MyBookie and BetNow are my two favorite sportsbooks and make betting very easy. You will also get a Free Money Bonus at each sportsbook if you follow either link above. Decimal Style Sports Betting Odds. Decimal style odds are used mostly in Europe, and are pretty easy to understand. To calculate the decimal style odds all you will need to do is simply multiply the amount you wish to wager by the decimal odds shown and you will get your payout. For example it may look something like this: Decimal Odds. Matchup Odds USA 2.40 Brazil 1.55. If you wanted to place a $10 wager on the USA at 2.40 you would simply need to multiply your $10 wager by the 2.40 odds (10 x 2.40) to find out that the payout is $24. It is important to realize that with decimal style odds it includes the amount you wagered, so to find out profits you would need to subtract your wager ($24 – $10) to find out your potential payout is $14 in profits. If you wanted to place a $10 wager on Brazil you would again just multiply $10 x 1.55 to find out that you would win $15.50 total or $5.50 in profits. Decimal style betting odds are very simple to understand, but you won’t see them displayed in many North American sportsbooks. With that said, most online betting sites will allow you to chose the style of betting odds you want displayed, with American odds set as the default.
Betting Odds Explained – A Beginner’s Guide to Gambling. Betting odds tell you how likely an event is to happen They also tell you how much money you will win However, at first, they may seem confusing and complex Our comprehensive guide takes you step-by-step to explain them. If you’re new to betting, one of the first things you should do is learn how betting odds work. It’s critically important because it allows you to understand how likely an event is to happen, and what your potential winnings will be. At first, it may appear confusing, however, read our guide and let us explain it to you. In gambling, odds represent the ratio between the amounts staked by parties to a wager or bet. Thus, odds of 3 to 1 mean the first party (the bookmaker) stakes three times the amount staked by the second party (the bettor). What is Probability? The most basic level, betting provides you with the ability to predict the outcome of a certain event, and if your prediction is correct, you will win money. For any given event, there are a certain number of outcomes. Take rolling a dice for instance. If someone rolls a dice, there are six possible outcomes. Therefore, if you bet that the person rolls a ‘one’, there is a 16.67% chance that will happen. What betting odds merely do is present how likely the event is to happen. Bookies most frequently in the UK do this as a fraction, i.e. 4/7, whilst the vast majority also offer the ability to view them as decimals. Again, let us talk you through them. All will become clear. Using Betting Odds to Calculate Probability. Whenever you see two numbers separated by a trailing slash, i.e. 10/1, this is known as fractional odds. From this, you can calculate how likely a given event is to happen with a calculation. For ease of explanation, let’s replace the numbers with letters i.e. 4/1 becomes A/B. Here is the calculation: Probability (%) = B / (A+B). Hooray! We’re making progress. Given a fraction, we can now tell how likely (the probability) what we’re going to bet on will happen. Now let’s figure out how much money can be won using betting odds. Using Betting Odds to Calculate Winnings. Betting odds allow you to calculate how much money you will win if you make a bet. Let’s use the same examples as before, with the same replacement of numbers for letters, i.e. 4/1 becomes A/B. Quite simply, for every value of B that you bet, you will win A, plus the return of your stake. 9/1 for every £1 you bet, you will win £9. 4/1 for every £1 you bet, you will win £4. 1/1 for every £1 you bet, you will win £1. 1/4 for every £4 you bet, you will win £1. What About Decimals? Decimals are far more common on exchanges, such as Betfair, but all leading betting sites do give you the option to view betting odds in this format. They are an alternative to seeing betting odds in the fraction format, and in our opinion, are easier to work out. Here is the calculation: winnings = (odds * stake) – stake. Let’s illustrate it with some examples. 9.0 can be calculated as (9.0 * £10 stake) – £10 stake = £80 winnings. 4.0 can be calculated as (4.0 * £10 stake) – £10 stake = £30 winnings. 2.5 can be calculated as (2.5 * £10 stake) – £10 stake = £15 winnings. 1.25 can be calculated as (1.25 * £10 stake) – £10 stake = £2.50 winnings. You can use our bet calculator to help you calculate winnings. USE BET CALCULATOR. Decimal Odds Versus Fractional Odds. In truth, one isn’t better than the other but there is certainly a trend emerging towards decimal odds. Historically fractional odds were used in the UK, especially on racetracks and on the high street. There are two key differences. Generally, decimal odds are easier to understand. Based on this, there has a movement to attract more people to horse racing by making it more accessible to the average punter. Ten years ago, if you were going to Cheltenham, all the odds would be displayed as fractional odds. Now, they’re largely all in decimals. Don’t hesitate to check out our exclusive Premier League Betting Offers ! The second difference between the formats is that fractional odds only represent winnings, and do not include the returned stake compared to decimals which do include the stake. The transition from fractional odds to decimals largely kicked off with the growing popularity of the betting exchanges such Betfair. For odds to change slightly, it’s really difficult to marginally increase or decrease the probability without creating large fractions which are hard to compute for the punter. Use Our Tool to Convert Betting Odds Into Your Favourite Format. Our odds converter tool will allow you see odds in whatever format you like . Not only that, but it’ll tell you how likely the selection is to win! In Summary. Next steps. That’s it! Hopefully, that clears up betting odds. You should now have the knowledge to read betting odds, understand how likely it is to happen, and how much you stand to win. Found this article useful? We have loads more similar ones in our learning section . Here are some popular ones; Find out if using tipsters can improve your chances of winning Each way betting explained Learn what laying a bet means Understand how handicap betting works Our homepage lists all available betting sites for new customers .
How Do Odds Work in Betting? If you are planning to start betting, be it casino gambling, sports betting, or any other type, it's important to understand the odds. It would be preposterous and absurd to think about placing bets without having a good grip on the main types of betting odds and the ability to read and interpret the various associated formats. The three main types of betting odds are fractional (British) odds, decimal (European) odds, and American (moneyline) odds. These are simply different ways of presenting the same thing and hold no difference in terms of payouts. This means that a chance (percentage probability) of an event occurring can be converted and presented in any of the aforementioned types of odds. How Fractional Odds Work. Fractional odds (aka British odds, UK odds, or traditional odds) are popular among British and Irish bookies. These are typically written with a “slash (/)” or a “hyphen (-),” e.g. 6/1 or 6-1 and announced as “six-to-one.” Fractional odds are used by some of the world’s largest bookmakers, making them the most preferred odds across the globe. Therefore, the total (potential) return on a stake can be stated as: For instance, one of the major sports betting websites listed the following fractional odds for futures betting on the team to win the 2017-18 NBA Championship. Below is a selection of the three teams that had the lowest odds of winning. Golden State Warriors: 10/11 Houston Rockets: 9/4 Cleveland Cavaliers: 7/1. It can quickly be determined that the Golden State Warriors are the favorites while the odds on Houston and Cleveland winning are longer. That is, one wins only $10 against every $11 wagered on Golden State to be the champions. Meanwhile, one wins $9 against each $4 (i.e. 3.25 times) put at stake for Houston to win, which is a bit less probable. For Cleveland, one wins $7 against each $1 bet. In the above example, if you bet $100 on Golden State to win, you could make a $90.91 profit [$100 x (10/11)], and could get back your initial stake of $100, resulting in a total payout of $190.91. However, if you wager $100 on Houston to win, you could receive a profit of $225 [$100 x (9/4)], in addition to the $100 initial stake leading to a total payout of $325. The potential profit for a Cleveland win would be even higher, as you could make a profit of $700 [$100 x (7/1)]. With the initial stake of $100 being returned, it would make for a total payout of $800. How Decimal Odds Work. Decimal odds (aka European odds, digital odds, or continental odds) are popular in continental Europe, Australia, New Zealand, and Canada. These are a bit easier to understand and work with. The favorites and underdogs can be spotted instantaneously by looking at the numbers. The decimal odds number represents the amount one wins for every $1 wagered. For decimal odds, the number represents the total payout, rather than the profit. In other words, your stake is already included in the decimal number (no need to add back your stake), which makes its total payout calculation easier. The total (potential) return on a stake can be calculated as: For instance, one of the renowned betting websites priced the candidates to win the 2020 U.S. Presidential Election. Here, we list the decimal odds for the candidates and the biggest long shot among the candidates listed by the bookmaker. Donald Trump: 4.00 Joe Biden: 1.3. These numbers merely represent the amount one could win against each $1 put at stake. Therefore, if one bets $100 on Donald Trump to be re-elected as president, this person could make a total payout of $400 ($100 x 4.00). This amount includes the initial stake of $100, giving a net profit of $300. Similarly, a bettor could make a total payout of $130 ($100 x 1.3) if they successfully bet $100 on Joe Biden. Deducting $100 from this return gives the bettor the net profit earned. Reviewing the prices that the bookmaker has set for each candidate, it can be determined that according to the bookmaker, the probability of Biden (favorite) winning the election is higher than that for Trump. The higher the total payout (i.e. the higher the decimal odd), the less probable (and riskier) it is for the listed candidate to win. How American (Moneyline) Odds Work. Let’s understand this with the help of an example: One of the popular betting websites priced the NCAA "Sweet 16" men's basketball game between Duke and Syracuse on March 23, 2018, with the following moneyline odds. In this matchup, there is a big difference between the two odds, indicating a much higher probability of Duke winning the game and advancing to the next round of the NCAA Tournament. Key Takeaways. The three main types of betting odds are fractional (British) odds, decimal (European) odds, and American (moneyline) odds. These are simply different ways of presenting the same thing, and hold no difference in terms of payouts. Fractional odds are the ratio of the amount (profit) won to the stake; Decimal odds represent the amount one wins for every $1 wagered; and American odds, depending on the negative or positive sign, either indicate the amount one needs to wager to win $100 or the amount one would win for every $100 staked. The Bottom Line. If you are planning to enter the betting or the gambling world, it is important to be able to understand and interpret all types of odds well. Once you have mastered the three popular types of odds (fractional, decimal, and American), you can move towards a more detailed read on this topic and find out how the house always wins. Please refer to Understanding the Math Behind Betting Odds & Gambling for the conversion between the different formats of odds, the conversion of odds into implied probabilities, and the differences between the true chances of an outcome as well as the odds on display.
How do betting odds work? Betting odds are used to assess the likelihood of an event happening. Less likely events tend to have higher odds and offer larger reward, while more likely events have a lower risk attached and therefore a lower reward. Your winnings depend on how much you wager on a given set of odds. Betting odds are seen in a range of formats – they are most commonly seen as fractions but are also sometimes presented as decimals. A quick introduction to betting odds. Decimal and fraction odds might seem confusing, especially if you’re not familiar with betting and all the betting terms and types . This handy guide is ideal for anyone new to betting, or if you’re struggling to read the odds. It contains a range of useful tips and tricks that will help you better understand just how betting odds work, so you can choose odds and place your bets with more confidence. Here, we will highlight: The key points of betting odds and what you should look out for. How to read betting odds and make them work in your favour. Tips and tricks to help you understand betting odds more easily. What are betting odds? Betting odds are used to present the likelihood of an outcome, as well as help you understand how much you could win from a bet. They are often written out as a fraction (e.g. 2/1) or a decimal (e.g. 3.0). Betting odds can be applied to anything that has a set outcome and are often seen in sport, entertainment, and politics. The odds measure the probability of a certain outcome, such as the result of a sports game or reality TV show, or whether a certain party gets the majority vote in an election. How do betting odds work? Betting odds are used to determine probability and calculate the winnings from a bet and are often seen in their decimal or fractional form. Odds are commonly recognised as being even, long, or short. Even odds. When something is just as likely to happen as not, it is given even odds. These are presented as 1/1 in fractional odds, or 2.0 in decimal odds. In this instance your winnings would be the same as your stake. For example: In the case of 1/1 odds, you win £1 for every £1 you bet. Therefore, if you bet £10 you’d win £10, and return £20 in total (your £10 stake plus your £10 winnings). Long odds. If something is statistically less likely to happen, it is given long odds. This means you have the potential to win more than you would on even odds, but the risk of losing is higher. For example: In the case of 10/1 long odds (or 11.0 in decimal form), you could win £10 for every £1 you bet, and therefore your winnings exceed your stake. A winning £10 bet at 10/1 odds would result in £100 winnings plus your £10 stake, therefore returning £110 in total. Short odds. If something has a higher probability of happening, it is given short odds. While short odds are more likely to happen, the winnings will be smaller, and therefore you’ll need to stake higher amounts for a bigger return. For example: In the case of 1/10 short odds (1.10 in decimal form), you could win £1 for every £10 you bet. Therefore, a winning £10 bet would result in £1 in winnings, amounting to a return of £11 (your £1 winnings plus your £10 stake). How to read betting odds. Betting odds are most commonly presented as a fraction or a decimal in the UK. Moneyline odds, which are common in the US, are also becoming more popular. Reading odds can be confusing if you’re not familiar with what the different sets of numbers reflect. Here, we explain how to read decimal, fraction, and moneyline odds. Understanding decimal odds. The simple rule of thumb with decimal betting odds is the bigger the number, the larger the return will be. For example, decimal odds of 3.75 will result in larger winnings than decimal odds of 1.75. To work out your winnings from decimal odds, simply multiply the odds by your stake. The resulting number reflects both your winnings and your stake. For example: If you bet £10 on odds of 3.75, you would return £37.50 – this means you’ll have won £27.50 (£37.50 – your £10 stake). Understanding fractional odds. Fractional odds are a more traditional way of displaying odds in the UK. Appearing in fraction form (e.g. 2/1), you must first work out your winnings and then add on your stake in order to determine your total return. The best way to calculate your returns from fractional odds is to follow a formula: This might look complicated, but we promise it will make sense when you plug your numbers in. For example: If you bet £10 on a 5/2 bet, your calculation would look like: For longer odds with a larger return, look out for odds where the first half of the fraction is larger than the second half. For example: Odds of 5/1 will return greater winnings than odds of 1/5. If you were to stake £10 on odds of 5/1, then your return would be £60. However, if you were to stake £10 on odds of 1/5, your return would only be £12. Understanding moneyline odds. The moneyline shows you how much you have to bet in order to win £100. If you are presented odds of -200 (because this event is more likely) you will have to stake £200 to return £300 (your £200 stake plus £100 winnings). In order to calculate the potential payout from a moneyline bet, simply follow this formula. Converting decimal odds to fractions. Converting decimal betting odds to fractions takes a bit of basic maths knowledge. First, take your decimal odds and subtract 1 from the number. For example: If you have decimal odds of 3.75, subtract 1 and you are left with 2.75. These are odds of 2.75/1. Odds need to be made up of whole numbers, so we need to take 2.75 and turn it into a whole number. The easiest way in this instance is to multiply 2.75 by 100 and move the decimal along two places. This gives us 275/100. From there, we can work our way to finding the smallest equivalent fraction. In this case, we can divide our fraction by 25, leaving us with fractional odds of 11/4 – previously 3.75 when presented as a decimal. Now that you understand betting odds and how they work, you can begin to use them to your advantage. Browse all the latest sports betting odds or sign up to Grosvenor Casinos today to get started. How to calculate betting odds return. Using our bet calculator , you can now work out how much a potential bet could return. The calculator gives you the option to select the bet type, the win odds, your stake, and whether the bet placed will be each way or not. As well as finding out how much your bet will potentially return, the calculator also gives you the total profit.
BETTING ODDS EXPLAINED: WHAT THEY ARE AND HOW TO USE THEM. Odds are the numbers used by online bookmakers to show how likely something is to happen. They give you a quick indication of how much you could expect to win if your bet wins. This guide will introduce you to the world of odds, the different ways they can be used and what they mean to you and your matched betting journey. With so many numbers appearing in different formats, betting websites can be overwhelming for the beginner. But as long as you can get to grips with a few simple mathematical ideas, it’ll all become a lot easier. This guide will show you how betting odds work. What are betting odds? Odds are numbers that express how likely events are to happen. To illustrate this idea, here are the three possible outcomes of a football match for any team: 1. Win 2. Lose 3. Draw. All of these have different possibilities, probabilities, chances – or odds – of happening. How betting odds work. Betting odds are usually expressed either as fractions (e.g. ‘3/1’) or as decimals (e.g. 4.0). Fractions were traditionally used to bet on horse racing and were most popular in high street betting shops in the UK, before the advent of internet gambling. While the differences may seem confusing at first glance, they’re simply different ways of expressing the same thing. How to read betting odds. Once you understand betting odds and the differences between them, reading them becomes easy. How to understand fractional odds. If a bookmaker offers odds of 3/1 for an event to occur, you stand to win £3 for every £1 you bet. If you bet on an event at odds of 7/2, then you stand to win £7 for every £2 you wager (winnings plus your stake). You may also see odds expressed with the lowest number first e.g. 1/2 or 2/7. These are known as ‘odds-on selections’ and are normally used when the likelihood of something happening is higher than not. Of course, this also means that your winnings will be less than your stake. At 2/7 you win £2 for every £7 you bet. When the numbers on either side of the slash are the same (e.g. 1/1), we refer to them as ‘evens’. If you’d like a bit more guidance, we have a full guide on how fractional odds work in betting. In many ways, decimal odds are easier to understand. This is because all you have to do to calculate your potential winnings is multiply your stake by the odds. For example, if you make a £10 bet at odds of 4.5, you could potentially win £45 (including your stake). By contrast, fractional odds can become confusing. For example, which odds give the best return – 16/5 or 3/1? You can work it out, but a glance at their decimal equivalents (4.2 and 4.0 respectively) quickly tells you which odds are most favourable. This is why we recommend that all beginners start betting using decimal odds. You should bear in mind that decimal odds include your stake. So, if you bet £10 at odds of 2.5, you can expect to win £25 (£15 on top of your £10 stake). You should also know that 2.0 is the evens line, so numbers lower than this return a profit that is lower than your stake. Moneyline odds aren’t generally used in either the UK or Europe. But you might see them in American media and sites, especially those that cover boxing or mixed martial arts. If you the odds have a negative value, this tells you how much money you need to wager to win $100. So, if you want to bet on an event at odds of -175, you must bet $175 to win $100. Converting decimal odds to fractions (and vice versa) Using odds to find value. Now that you can convert odds into the perceived value, it means that you can work out whether you think the bookmakers’ implied probability of an event occurring differs from your own. For example, if you notice that Chelsea has scored a first half goal in 75% of their home games this season but the bookmaker has the market priced at 2.0 (50% implied probability) then you’ve just found some value. The problem with this method though, is that you need to be better than the bookmaker at calculating probability. This is a difficult task considering the huge teams of mathematicians that they employ. What is probability? In betting terms, probability is odds expressed as a percentage. To help you understand probability, think of a coin toss: in this case, there are only two outcomes (usually heads or tails), each with exactly the same chance of landing. You calculate the probability with the following equation: Probability = chances for / total chances. For every coin toss, heads has one out of two chances of landing. One divided by two is 0.5. Multiply by this by 100 to get the percentage, and you have 50%. In the case of a deck of cards, there are four aces among 52 cards. Therefore, the probability of drawing an ace is 4/52, or 7.69%. Because of the many factors involved, it is impossible to calculate exact probability in sports betting. All your bookmaker can do is set a probability based on the likely outcome (adjusted slightly for profit); this is known as ‘implied probability’. Implied probability is important because it helps you decide whether it is worth betting on a certain event. You can work it out by dividing one by the decimal odds. Let’s say the bookies give Stoke City odds of 2.5 (3/2) for winning a match against Huddersfield Town. Divide one by 2.5 to get the probability, which is 0.4 or 40%. If you put £10 down on Stoke to win, you stand to gain £25 including your £10 stake. You can then work out the ‘expected value’ of the bet using another equation: In the case of Stoke versus Huddersfield above, the equation works out like so:
Best 3 Sports Betting Sites Online 2021 - Top Sportsbooks. #1. Bovada. Bonus: 50% up to $250. #2. BetOnline. Bonus: 50% up to $1000. #3. MyBookie. Bonus: 50% up to $1000. You should not struggle to find the best online sports betting sites. With the incredible growth witnessed in the industry, there are many platforms where you can play online. However, there are a couple of platforms you should avoid. To help you find the best sports betting sites, this guide lists the top three best online sports betting sites: Bovada, BetOnline, and MyBookie. There are many factors that make the best online betting sites. These sports sites cover many sports and have the fastest payouts. They are honest, trusted and reliable. 1.Overview of Bovada. Bovada is by far the best sports websites for bettors in the US. The company offers everything you would ever want. Bovada is easy to navigate, professional and has many offerings for bettors. Players have never complained about missing payouts. It is one of the most secure sports gambling sites. Banking and Deposits. Bovada boasts of smooth deposit options for gamblers. However, the platform does not have many deposit money deposit options although things are easy and straightforward. Deposit options include bitcoin, Amex, MasterCard and visa. Transactions are quite fast with fewer hoops. You can use the cash almost immediately. 2. BetOnline. BetOnline is yet another notable sport betting platform. They always improve infrastructure, bonuses, and promotions so that you can get incredible products. It is important to know that you are playing on a platform that keeps improving their performance. Banking and Deposits. The platform requires a minimum of $10 to play. Payment options include MoneyGram, Mastercard, western union, bitcoin, Skrill bank, discover card, diners club, American express, Ethereum. Support BTC and USD. Customer Support. 3. MyBookie. MyBookie is an incredible top online sportsbook and casino. Even though some aspects need to be improved, it still offers some incredible features that gamblers would appreciate. Banking and Deposits. There are a host of banking options that the website offers. It is easy to deposit and withdraw funds any time of the day. However, the website does not offer e-wallet options like other sports gambling sites. Players hope in the future MyBookie will introduce Neteller and Skrill. Bonuses. MyBookie offers some incredible bonuses for players. There is a broad assortment of bonus across sportsbook and casino which players can use to spin, earn bonus money and so much more. In addition, the bonuses are more extensive as compared to other sports betting online websites. Customer Service Support. MyBookie has one of the best customer support among sports betting online sites. First and foremost, they offer customer support 24hrs, offering help to customers. Apart from that, you can easily reach them through telephone, web form, and live chat. Customers have recorded satisfaction in customer support as they are helpful and fast. User Interface. It does not matter if you are using a desktop version or mobile version of the website. Also, the quality of the user interface is commendable. The website is easy to navigate. It is never an issue to find what you want on the website, all thanks to the thoughtful and quality built. Finding the best online betting sites that are safe and secure is not easy as there are many fake sites online. However, a good online gambling site is that which offer the best user experience, easy banking options, and great customer support.
Best 5 Sports Betting Sites Online 2020 | Top Sportsbooks. Sports betting on the Internet can be a thrilling experience for anyone. If you want your sports betting experience to go off without a hitch, however, you need to find the right website. Thankfully, the Internet is home to quite a few appropriate sites that can provide users with top-notch experiences. Be sure to check them out as soon as you get the chance. #1 Bovada. If you’re keen on sports betting online, then there aren’t many website options that can even compete with Bovada. People who have penchants for gambling on the Internet often can’t turn away from this option. It presents users with an abundance of diverse choices as well. Some examples of these are baseball, basketball, and golf. It doesn’t matter what your specific sport preferences are. Bovada can help you attain an online betting experience that’s one for the record books, period. When you’re on the lookout for the best sports betting sites, then Bovada without a doubt should be on your radar. Fans of sports betting online frequently gravitate to Bovada and to all of its choices. Registration with Bovada can be a delight as well. That’s due to the fact that newbies can receive thrilling perks as incentives. If you like the concept of betting on hockey, basketball and the like, then you won’t be able to resist paying a visit to Bovada. Tennis bets have never been quite so pleasant online.
Best 5 Online Sports Betting Sites 2021 – Top Rated Sportsbooks. When looking to venture out into sports gambling, you are likely to find hundreds of online sports betting sites out there. When looking for the best sports betting sites, therefore, the most important issues to consider are the perks that come with the websites. This will ensure you enjoy the greatest sports betting online experience. These perks include signing bonuses and easy usability among others. In this article, we are going to review three of the best online betting sites, which are Bovada, BetOnline, and MyBookie. #1 Bovada. Bovada has continually offered promotions and offers to its customers. For instance, first-time deposits for sports get bonuses of 50 percent for deposits up to $250, 100 percent for deposits up to $1000 for casino bets, and 100 percent for deposits up to $1000 as poker bonus. Making a deposit or a withdrawal is easy and only attracts a small fee. For first-time deposits, the processing fee of 4.9 percent is waivered. Payouts are done using rapid transfer, otherwise known as money gram. Bovada allows sports betting online on their user-friendly mobile interface or in their state of the art poker and casino gaming rooms. The minimum wager online is $1 and $50 for mobile bets. The only limitation to using Bovada is that the odds are posted late and that they have very low wager limits. #2 BetOnline. Licensed and regulated in Panama, BetOnline offers sports, live, poker, casino, and live dealer types of betting. It offers a wide range of payment options and several accepted currencies, thus making it one of the most convenient sites for customers across the world. You get a welcome bonus of 50 percent on deposits up to $2500. However, bonus levels are tiered for different types of wagering. The online game library is categorized into 3D slots, table games, slots, and video poker. Most of the bets are placed online since their mobile platform only allows sports betting. Maximum and minimum deposits and withdrawals are different for different payment options that are offered on BetOnline. Its major shortcoming is that it has high rollover requirements that customers might find difficult to understand. #3 MyBookie. MyBookie is one of the newest top online sports betting sites in the market. It was established in 2014 in Costa Rica and is fast growing to compete with other older bet staking sites. The minimum online wager on MyBookie is $10 and the maximum is $1000. For mobile wagers, however, there are no limits. Wagering options for MyBookie include straights, totals, open wagers, action points, teasers, reverses, if bets, futures, and money lines among others. You can bet on games such as NFL Football, college basketball, NBA basketball, NHL hockey, soccer, golf, and horse racing among others. With one of the highest bet bonuses in the industry, MyBookie gives you a welcome bonus of up to 50 percent for up to $1000 if you are a first time depositor. For reloads, they offer a 20 percent cash bonus. This makes it one of the best sports betting sites. Its mobile platform has a user-friendly interface that makes it very easy to use. Their customer service is also highly efficient and offers top-notch customer service. This puts them among the best online betting sites today. MyBookie, however, only caters to recreational gamblers as opposed to other top sites that allow professional gambling. The site has also been said to lean more on the US sports market as compared to international sports.
Rugby Odds. The most significant betting events that happen throughout the year in rugby fall generally under the Rugby Union tournaments. These tournaments are the Six Nations Championship or the Rugby World Cup. But even when these Rugby Union events are over, that doesn’t mean you can’t bet anymore. There is still the Rugby League, which also holds many tournaments all year round. Although this league uses different rules than the Rugby Union, wagering here is still equally fun. In fact, some people prefer sports betting on the Rugby League due to its faster pace. The league is the most popular in places like northern England, Australia, and France. In Germany, the Rugby Bundesliga is a well-known league there. It is considered the premier league in the country. So just like in other sports, there are various types of open bets that bettors can choose from when wagering on a rugby game. Having a deeper understanding of how these bets work is essential if you wish to get better in rugby betting. TYPES OF RUGBY BETS. Let’s check out the different variations of rugby bet types below. Rugby Match Bets. One of the most common rugby bets that people make is called match bets. This is a bet that predicts who will win a specific game between two teams. If a tie happens, where the two sides have the same score, then the bet is a push. This means that bettors get back their stake. However, a push in rugby doesn’t often happen because of its high-scoring matches. A sportsbook typically lists down each side of a team with their moneyline odds next to them. These rugby betting odds are the numbers that dictate how much money bettors can win if they succeed in their bet. Rugby teams that have a negative next to their moneyline rugby odds are considered the favorite to win the game. Meanwhile, positive moneyline odds next to a team’s name means that they are the underdog. Here’s how a match bet in rugby would look like: Rugby Handicap Bets. Handicap betting in rugby is the same as with bets made in other sports. This type of wager puts some extra points in favor of the underdog for a fairer bet. The handicap numbers are assigned by a bookmaker based on the skill gap an underdog has against the favorite. For example, South Africa, the -4 favorites, will be playing against South Wales. If you placed a bet on South Africa, the team has to defeat Wales by at least 5 points for you to win the wager. If they win by 4 points or less, then the bet is considered a push, and your money will be refunded. Concerning payout odds, bettors can get more money betting on the favorites of a handicap bet compared to a regular match bet. The reason for this is simple. The favorite has a handicap spread to cover. Even bigger payouts can be obtained with handicap bets when wagering on the winning margin. Some outcomes are totally over the top with paydays reaching 20 to 1 or even more if they happen. Rugby Half Bets. Some people are too busy to watch entire rugby games that can go from anywhere between an hour and a half to two hours. That’s why there are half bets in rugby that allow bettors to wager on the outcome during a specific time in the match. This period is usually the first or second half. Some betting sites may ask you to select teams that you think will win outright in the first or second half. Other sportsbook platforms let you choose which teams you think will win both of them. You can expect a long list of half-time handicaps as well, with various outcomes available. The more ridiculous bets often come with higher payout odds from the gambling commission, so keep that in mind. Rugby Outright Bets. Many rugby tournaments happen every year. That is why many fans believe placing an outright bet slip is the most exciting out of all wagers. In this type of bet, bettors are asked to choose which team they think will take it all home. This can either be a huge tournament or even a championship event. The team that you decide to pick will need to win first place since winning anything below, which means that you lose the bet. Trying to predict who will win a tournament or become a rugby champion is more challenging than other bets. That’s why outright wagering has significantly higher payout dividends overall. Your sportsbook may also offer an outright bet variation where you will have to name the two teams that will make it to the finals. The increased difficulty here is a significant reason why this has even bigger payout odds than a regular outright bet. Rugby Prop Bets. In rugby, the prop bets are considered the more random types of wagers. These bets prioritize outcomes that are outside of the usual ones and are intended to be for fun. Just like in the NFL or NHL, a popular prop bet in rugby is wagering on who gets to score the first goal. This can either be the first team to score or the first person to do so. Getting this right can turn out a nice profit for bettors. Since rugby is quite physical, scuffles can happen between teams and players. Referees can hand out yellow cards and force players to get off the field for a few minutes. Bettors who are used to placing wagers in the UFC may be interested in knowing that there are yellow card bets here. Typically, you just have to predict which player will be receiving the first yellow card throughout the match. There are other popular prop bets too, such as which player gets the most tries, receives the most cards, or which team scores 20 points first. RUGBY BETTING STRATEGIES. Knowing the different types of rugby bets is great, but you can’t make a profit if you aren’t strategic. To succeed in rugby sports betting, you need to have a plan each time you place a wager. Below are some of the things smart rugby bettors keep in mind when making bets. Know the Teams. Not all teams play the same. There are some teams like New Zealand that are traditionally more explosive, and so get more tries. Groups that are more focused on their kicking game, like South Africa, often experience more penalties scored. Smaller teams like Argentina are more challenging to predict. With that in mind, betting on teams like the All Blacks for high scores is better than going for the Springboks or the Pumas. Look Up. Adverse weather conditions can change rugby matches in an instant, just like in NASCAR or racing on the racebooks. When it rains, the ball becomes slippery and thus harder to control. Low-scoring games often happen as a result of bad weather. You will want to keep the conditions outside in mind when you bet, especially when looking for high scores. Watch the News. Injuries can happen at any time throughout the regular season. Teams that are missing their star players will usually not work as effectively as they should be. Playmakers such as the fly-half can have a massive impact on the team on and off the court. But even if all team players are present, changes to a schedule can be unsettling and affect how each member plays. Watch the news and keep an eye out for these changes to help you make informed rugby bets. Know Your Market. More often than not, the wingers are the first ones to score a try in a rugby match. A study, in fact, suggests that they do this 70% of the time. If wingers aren’t able to score first, then it’s usually the backs that pick up the slack. That is why the backs have the lowest rugby odds of making the first score in a match. It’s crucial that you look at these statistics on the teams you plan to bet on if you want to make an educated wager. Be Aware of Form. Tournaments like the Premiership have teams that play week in and week out. This makes following the form guide essential. As for international rugby matches, the form isn’t always regarded as much since it can take months for a series to conclude. That is why the form doesn’t have as much weight from one set to the next with international games. Develop a Strategy and Stay With It. People who bet on rugby follow two approaches in responsible gaming. The first is to bet small amounts on improbable outcomes or wager big money on short odds. Choosing to go all-in on a team that has an excellent home record is a strong bet if you did your research. Meanwhile, backing a team that has low chances of winning can bring in some nice paydays even if you didn’t stake a lot. These bets rarely happen, though, so be prepared for some dry stretches.
Rugby Betting. Rugby betting is extremely popular in Australia. With both rugby union and rugby league proving to be widely watched sports in the nation, it really is no surprise that this is true. Rugby is also known to be a popular betting sport because it is so difficult to predict winners, meaning that odds are much higher and the winnings much sweeter when punters make correct bets. There are two different types of professional rugby associations – League and Union. This means more betting opportunities. If you’re interested in learning how to bet on rugby online, you have come to the right place. With our rugby betting guide, you will get a list of the best rugby betting sites for Australian punters along with top tips to keep in mind when betting. Best Rugby Betting Sites. Impressive Betting Options. Best Lottery Service. Reliable Sports Betting Site. Competitive Odds for Sports Games. How to Bet on Rugby. The following betting options are available to Australian punters interested in betting on rugby games at online sportsbooks: Fixed Odds/Moneyline Betting – this is the easiest bet that can be made on a rugby match. Basically, punters attempt to predict the winner of a particular match. This bet is the same for Rugby League and Rugby Union. Rugby Live Betting – these betting options that are available while the actual match is taking place. These include totals, props, and fixed odds bets. It is important to note that odds will change as the match goes on. Totals – these bets see punters trying to guess the total number of points that will be scored in a matchup. Bettors can either bet on the overall score being over or under a specific figure. (These bets are also known as overs/unders.) Outrights – these are bets placed on a team to win the tournament long before the final actually takes place. For example, placing a bet on New Zealand to win the world cup during the group stages of the tournament. Rugby Betting Handicap – handicap bets (also known as spread bets) see sportsbooks setting an advantage for underdog teams. Basically, these rugby betting lines will see favoured teams needing to win by a certain score if bets are to be paid out. These bets are preferred by experienced bettors due to the higher odds. For example, if the Crusaders play the Brumbies in Christchurch, sportsbooks may set an advantage for the Crusaders by 10 points due to their strength at home and previous performance in the tournament. That is rugby handicap betting explained. Rugby Union Vs Rugby League. Before placing any sort of bet on rugby, it is important to understand that the sport is divided into two different variations. We’ve explained the difference between the two down below: Rugby Union. Matches of this variation of the game are made up two teams of 15 players and last a total of eighty minutes. Teams score “tries” in demarcated areas and then have a chance to add additional points by scoring a conversion. If an attacking player is tackled, either a ruck or maul will form in which the defending team will attempt to stop their opponents from getting forward and perhaps even overturning possession. If a foul is committed, the opposing side will either kick the ball for a line-out, take a penalty at goal or perform a scrum. Rugby League. This variation of rugby is much more fast-paced than its Union counterpart. While many general rules are similar, there are a few differences worth noting though. Firstly, teams are made up of 13 players instead of 15. Secondly, there are no rucks or mauls in the game. Players simply retain possession by rolling the ball back to their teammates with their foot. Thirdly, while there is no time limit for how long a side can maintain possession for in Rugby Union, there is in Rugby League. In this form of the game, if an attacking side is tackled six times before they are able to score a try, possession will overturn. Finally, there are no line-outs in Rugby League. Instead, if the ball goes out of play, the teams contest over it through a scrum. Check Out Our Other Rugby Pages. Rugby Tournaments to Bet On. If you’re looking for some good rugby games to bet on of any variety, the following tournaments have proven to be popular with our punters: IRC Rugby World Cup – the Web Ellis Trophy most coveted trophy in the rugby union world. Nations battle it out to find out who is the best rugby team in the world. (We’d wager on a team in the Southern Hemisphere.) Super Rugby – the premier club rugby tournament in the world sees teams from Australia, South Africa, New Zealand, Argentina and Japan go up against on another in adrenaline-filled match ups. Rugby Championship – widely regarded as one of the most competitive international rugby union competitions outside of the IRC World Cup, the Rugby Championship sees Australia take on South Africa, Argentina and New Zealand in an attempt to determine which team reigns supreme in the Southern Hemisphere. Six Nations – six of the top rugby nations (England, France, Ireland, Italy, Scotland and Wales) in the Northern Hemisphere go up against one another in a tournament filled with drama. Who will prove to be the very best in this competition? Top 14 – the French rugby union club competition has often boasted to be the best in club competition in the world (or at least, certainly the one with the most money behind it.) Place wagers on matches featuring the world’s top-rated players, which will surely be very competitive. National Rugby League – the top rugby league club tournament in Australia sees 16 teams go up against one another. Make a range of different bets on these exciting matchups. National Rugby Championship – Australia’s premier club competition sees eight of the nation’s top club sides go at it in some exciting matches, filled with wonderful betting opportunities. Rugby Betting Tips. When betting on rugby, it is important to keep the following tips in mind: When betting on the IRC Rugby World Cup, keep the past victors of the tournament in mind. In the tournament’s history, only one team from the Northern Hemisphere has ever lifted the trophy – England. All other victories have come from teams based in the Southern Hemisphere – New Zealand, Australia, and South Africa. When looking at the Rugby Championship, New Zealand has racked up the most wins, with Australia and South Africa lagging behind. Newcomers Argentina has not yet lifted the trophy. New Zealand’s winning streak does not seem as if it is going to come to an end soon. Make sure that you don’t only look at a team’s most recent results when placing a bet as this may sometime skewer stats and lead you to make incorrect bets. It’s more important to do your research on the two teams involved in a match up to see whether or not other factors, such as team history, weather conditions or home and away form may affect results. Rugby Betting FAQs. Can you bet on rugby? Rugby betting allows you to bet on major rugby tournaments. You can bet on rugby at any reputable sportsbook. What is rugby handicap? Rugby handicap betting is the upper hand that sportsbooks give to one team to balance the game. The squad with the negative handicap needs to win by more than what the bookie sets. How do you read rugby betting odds? The odds for rugby are shown next to the teams who will be playing a certain match. Australian sportsbooks use the decimal system. Betting odds for rugby teams are displayed next to the team for different sites. What does winning margin mean in rugby? Rugby betting on the margin means that you are wagering on how many points the winning squad will win by. The winning margin is calculated with both clubs starting from nothing. What are the best rugby betting sites? The best sites for betting on rugby includes the Neds, Ladbrokes and many more. Can you earn money from rugby betting? Yes, you can make cash from wagering on the sports but you need to be also open to losing.
NFL Global Sportsbook Odds. Spread · Money Line · 1st Half Page 1 · Page 2. Where to Bet: WynnBET FanDuel BetMGM DraftKings Fox Bet Bet365 PointsBet Unibet BetRivers All. How to read Super Bowl 55 Odds. The Kansas City Chiefs wil meet the Tampa Bay Buccaneers in Super Bowl 55 from Raymond James Stadium in Tampa, Florida on Feb. 7, 2021. The Chiefs opened as -3.5 betting favorites while the Buccaneers are 3.5 underdogs. After early wagers came in, most operators are holding Kansas City -3 (-120). If you were to wager on Kansas City -3, you would have to lay 5/6 odds (Bet $120 to win $100) instead of your normal 10/11 juice (Bet $110 to win $100). The return on Tampa Bay would be even-money (1/1) and a $100 wager would return $100. The total or over-under on Super Bowl 55 is hovering between 56 and 57 points. How to read NFL Global Odds. All of the above numbers are listed next to the teams, and before each matchup is a Rotation number. The NFL Global Odds are listed in order of rotation and those numbers are generated and produced by the sportsbooks. Above each matchup and rotation is the Time of the game, which is subject to change. All game times are Eastern Standard Time on the NFL Global Odds. Ex. Bet $110 to win $100 (10% juice) Ex. Bet $100 to win $90.91 (10% juice) The Global bookmakers tend to offer adjusted numbers associated with each NFL point-spread and this can often be called as 'reduced juice' odds. Examples seen on the Global Odds pages could include -08 , -12 , -15 and -20 . Ex. Bet $108 to win $100 (8% juice) Ex. Bet $120 to win $100 (20% juice) Another number that’s posted on the NFL Global Odds is the total or ‘over/under’ for the specific matchup. If the favorite is designated as the home team, then the total will be listed above and vice versa if the visitors are favorites. All of the above numbers are listed next to the teams, and before each matchup is a Rotation number. The NFL Global Odds are listed in order of rotation and those numbers are generated and produced by the sportsbooks. Above each matchup and rotation is the Time of the game, which is subject to change. All game times are Eastern Standard Time.
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Sports picks mcfarlane. Have you been wanting your own set from early NFL Series? Now is your chance. For a Limited Time we have complete sets of EVERY NFL Series from McFarlane from Series 1-20. ONLY Available as complete sets. NFL Big Shot Ballers Lineup includes: Rodgers, Mayfield, Mahomes, Elliott, Barkley, etc. MLB The Show 19 Lineup includes: Lindor, Baez, Martinez, Altuve, Betts, etc. NFL Madden Series 7 Lineup includes: Watson, Bell, Ertz, Brady, & Barkley, etc. NFL Madden Series 6 Lineup includes: Brown, Wentz, Prescott, Beckham, Rodgers, etc. NBA Series 32 Lineup includes: Curry, Derozan, Booker, Embiid, Thomas, Ball. NFL Madden Series 5 Lineup includes: Prescott, Johnson, Carr, Ellliott, Bell. NBA Series 31 Lineup includes: Drummond, Green, Harden, Wall, Leonard, James. NBA Series 30 Lineup includes: B.Simmons, B.Ingram, D.Lillard, D.Rose, D.Wade, K.Durrant. NFL Madden Series 4 Lineup includes: Green, Wentz, Fitzgerald, Gordon, Wilson, Miller. Collector Level Chase figures will be available while supplies last. HOW TO FIND THE FIGURE(S) YOU WANT. You can find your choice of figure(s) by: Click on a sport in left menu and drill down through the Series. OR. Input your favorite team/player in Search field at the top of the page Example: To Order by Phone Call 719.229.2601.
McFarlane's Sports Picks. All Categories. NFL Football (614) MLB Baseball (559) NHL Hockey (486) NBA Basketball (342) Football (208) NASCAR (88) McFarlane Playmakers (48) NHLPA (5) NHRA (2) MLBPA Big League Challenge (2) The "value" of items is based on a number of factors. Please review how we have compiled our value ranges for figures and use our values as a rough guideline. We'd LOVE to hear from you! My Account. Login Register. Helpful Hints. How to Manage Your Collection How to Find Items. News & Information. Follow. DASH is the world’s best resource for the community of Action Figure lovers. We provide an integrated experience for collectors’ needs. We connect buyers and sellers. We help collectors learn. We promote the hobby. Our platform delivers information and technology to make collecting more fun, efficient and affordable.
Sports picks mcfarlane. Have you been wanting your own set from early NFL Series? Now is your chance. For a Limited Time we have complete sets of EVERY NFL Series from McFarlane from Series 1-20. ONLY Available as complete sets. NFL Big Shot Ballers Lineup includes: Rodgers, Mayfield, Mahomes, Elliott, Barkley, etc. MLB The Show 19 Lineup includes: Lindor, Baez, Martinez, Altuve, Betts, etc. NFL Madden Series 7 Lineup includes: Watson, Bell, Ertz, Brady, & Barkley, etc. NFL Madden Series 6 Lineup includes: Brown, Wentz, Prescott, Beckham, Rodgers, etc. NBA Series 32 Lineup includes: Curry, Derozan, Booker, Embiid, Thomas, Ball. NFL Madden Series 5 Lineup includes: Prescott, Johnson, Carr, Ellliott, Bell. NBA Series 31 Lineup includes: Drummond, Green, Harden, Wall, Leonard, James. NBA Series 30 Lineup includes: B.Simmons, B.Ingram, D.Lillard, D.Rose, D.Wade, K.Durrant. NFL Madden Series 4 Lineup includes: Green, Wentz, Fitzgerald, Gordon, Wilson, Miller. Collector Level Chase figures will be available while supplies last. HOW TO FIND THE FIGURE(S) YOU WANT. You can find your choice of figure(s) by: Click on a sport in left menu and drill down through the Series. OR. Input your favorite team/player in Search field at the top of the page Example: To Order by Phone Call 719.229.2601.
McFarlane's Sports Picks. All Categories. NFL Football (614) MLB Baseball (559) NHL Hockey (486) NBA Basketball (342) Football (208) NASCAR (88) McFarlane Playmakers (48) NHLPA (5) NHRA (2) MLBPA Big League Challenge (2) The "value" of items is based on a number of factors. Please review how we have compiled our value ranges for figures and use our values as a rough guideline. We'd LOVE to hear from you! My Account. Login Register. Helpful Hints. How to Manage Your Collection How to Find Items. News & Information. Follow. DASH is the world’s best resource for the community of Action Figure lovers. We provide an integrated experience for collectors’ needs. We connect buyers and sellers. We help collectors learn. We promote the hobby. Our platform delivers information and technology to make collecting more fun, efficient and affordable.
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The Math Behind Betting Odds & Gambling. The math underlying odds and gambling can help determine whether a wager is worth pursuing. The first thing to understand is that there are three distinct types of odds: fractional, decimal, and American (moneyline). The various types are represent different formats to present probabilities, which are also used by bookmakers, and one type can be converted into another. Once the implied probability for an outcome is known, decisions can be made regarding whether or not to place a bet or wager. Key Takeaways. The three types of odds are fractional, decimal, and American. One type of odd can be converted into another and can also be expressed as an implied probability percentage. A key to assessing an interesting opportunity is to determine if the probability is higher than the implied probability reflected in the odds. The house always wins because the bookmaker's profit margin is also factored into the odds. Converting Odds to Implied Probabilities. Although odds require seemingly complicated calculations, the concept is easier to understand once you fully grasp the three types of odds and how to convert the numbers into implied probabilities. There are tools available to make conversions between the three types of odds. Many online betting websites offer an option to display the odds in the preferred format. The table below can help convert odds with pen and paper, for those interested in doing the calculations by hand. Converting odds to their implied probabilities is perhaps the most interesting part. The general rule for the conversion of (any type of) odds into an implied probability can be expressed as a formula: As shown, the formula divides the stake (amount wagered) by the total payout to get the implied probability of an outcome. For example, a bookmaker has the (fractional) odds of Man City defeating Crystal Palace at 8/13. Plug the numbers into the formula, which is a simple matter of dividing 8 by 13 in this example, and the implied probability equals 61.5%. The higher the number, the greater the probability of the outcome. Using an example of decimal odds, a candidate has 2.20 odds to win the next election. If so, the implied probability is 45.45%, or. Lastly, using the American methodology, Australia's odds to win the 2015 ICC Cricket World Cup is -250. Therefore, the implied probability equals 71.43%: It is not only important to back winners, but one must do so when the odds accurately reflect the chance of winning. It is relatively easy to predict that Man City will win against Crystal Palace, but would you be willing to risk $100 to make a profit of $61.50? The key is to consider a betting opportunity valuable when the probability assessed for an outcome is higher than the implied probability estimated by the bookmaker. Why Does the House Always Win? The odds on display never reflect the true probability or chance of an event occurring (or not occurring). There is always a profit margin added by the bookmaker in these odds, which means that the payout to the successful punter is always less than what they should have received if the odds had reflected the true chances. The bookmaker needs to estimate the true probability or chance of an outcome correctly in order to set the odds on display in such a way that it profits the bookmaker regardless of an event outcome. To support this statement, let’s look at the implied probabilities for each outcome of the 2015 ICC Cricket World Cup example. Australia: -250 (implied probability = 71.43%) The amount above 100%, the extra 4.76%, represents the bookmaker’s "over-round", which is the bookmaker’s potential profit if the bookie accepts the bets in the right proportion. If you bet on both the teams, you are actually risking $104.76 to get $100 back. From the bookie’s perspective, they are taking in $104.76 and expect to pay out $100 (including the stake), giving them an expected profit of 4.5% (4.76/104.76), no matter which team wins. The bookie has an edge built into the odds. According to a study published in the Journal of Gambling Studies , the more hands a player wins, the less money they are likely to collect, especially with respect to novice players. That is because multiple wins are likely to yield small stakes, for which you need to play more, and the more you play, the more likely you will eventually bear the brunt of occasional and substantial losses. Behavioral economics comes into play here. A player continues playing the lottery, either in hopes of a big gain that would eventually offset the losses or the winning streak compels the player to keep playing. In both cases, it is not rational or statistical reasoning but the emotional high of a win that motivates them to play further. $12 Billion. The amount of revenues generated by Las Vegas casinos in 2018. Consider a casino. All of the details—including the game rules, music, controlled lighting effects, alcoholic beverages, and the interior decor— are carefully planned and designed to the house's advantage. The house wants you to stay and continue playing. Naturally, the games offered by the casino have a built-in house edge, although the house advantage varies with the game. Moreover, novices find it particularly difficult to do cognitive accounting and people often misjudge the variance of payouts when they have a streak of wins, ignoring the fact that frequent modest gains are eventually erased by losses, which are often less frequent and larger in size. The Bottom Line. A betting opportunity should be considered valuable if the probability assessed for an outcome is higher than the implied probability estimated by the bookmaker. Furthermore, the odds on display never reflect the true probability of an event occurring (or not occurring). The payoff on a win is always less than what one should have received if the odds had reflected the true chances. This is because the bookmaker’s profit margin is included in the odds, which is why the house always wins.
Optimal Determination of Bookmakers' Betting Odds: Theory and Tests. Author. Abstract. Suggested Citation. Download full text from publisher. As the access to this document is restricted, you may want to search for a different version of it. More about this item. Keywords. JEL classification: D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism. Statistics. Corrections. All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cpr:ceprdp:1623 . See general information about how to correct material in RePEc. If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about. We have no references for this item. You can help adding them by using this form . If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation. Please note that corrections may take a couple of weeks to filter through the various RePEc services.
Optimal Determination of Bookmakers' Betting Odds: Theory and Tests. Author. Abstract. Suggested Citation. Download full text from publisher. As the access to this document is restricted, you may want to search for a different version of it. More about this item. Keywords. JEL classification: D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism. Statistics. Corrections. All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cpr:ceprdp:1623 . See general information about how to correct material in RePEc. If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about. We have no references for this item. You can help adding them by using this form . If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation. Please note that corrections may take a couple of weeks to filter through the various RePEc services.
Optimal Determination of Bookmakers' Betting Odds: Theory and Tests. JEL Classification D82, G13. John Fingleton and Patrick Waldron. Department of Economics, Trinity College, Dublin 2, Ireland. Abstract. Non-technical summary. First, empirical odds invariably exhibit a favourite-longshot bias, whereby the prices of the favourites are relatively better value than those of the longshots. This bias is also observed in pool betting, with the interesting exception of data from Hong Kong. Second, the margin implicit in bookmakers' odds increases with the number of runners in the race. Third, this theoretical margin, calculated by summing the probabilities quoted by the bookmakers, overstates their realised operating profits, suggesting that punters can identify horses underpriced by bookmakers and exploit this `inside information'. Fourth, margins vary greatly from country to country, even when market structure does not vary. In particular, bookmakers' prices are significantly higher (i.e. odds lower) in the Irish market than in the British market, although these markets differ only in size. Shin (1991-3) provided a theoretical explanation for the first two phenomena, assuming inside information on the part of the punters. Since Ј1 bet on a horse at 3:1 exposes the bookmaker to a smaller potential loss than Ј1 bet on a horse at 30:1, the bookmaker will require a greater risk premium to insure himself against the possibility of inside information on a longshot. This is achieved by reducing the odds in respect of the longshot. The more horses in the race, the longer the odds on each, and thus the bigger the bookmaker's overall margin. Shin's empirical analysis estimates the extent of inside information without using the outcome of races to confirm the accuracy of that information. Motivated by the differences between market outcomes in Ireland and Britain, this paper develops a more general model of determination of bookmaker betting odds, based on Shin's model, incorporating (a) infinite risk-aversion on the part of the bookmakers, (b) the possibility of anti-competitive behaviour among the bookmakers and (c) (as Shin does) different degrees of inside information on the part of the punters. Shin's theoretical analysis is based on perfectly competitive, risk-neutral bookmakers. It ignores operating costs and assumes that any profits are competed away. In practice, bookmakers are often seen balancing their books so as to have identical liabilities across all horses. This would represent infinitely risk-averse behaviour and would not be profit maximising: a bookmaker can increase profits by setting slightly longer odds. While the level of risk-aversion among bookmakers alters the optimal prices, it does not affect the existence of either the favourite-longshot bias or the relationship between margins and the number of runners. Because optimal prices differ, we are able to test whether bookmakers are risk-neutral or infinitely risk-averse. We are interested in whether the higher bookmaker margins in the Irish market can be explained by greater risk aversion or greater levels of anti-competitive behaviour by bookmakers or by greater levels of inside information on the part of punters. We use the results of 1,696 races in Ireland in 1993 to estimate jointly the extent of inside information, the operating profits earned and the degree of risk-aversion exhibited by bookmakers. Our methodology, using the closed form solution of Jullien and Salaniй (1994) rather than the approximations of Shin (1993) and Paton and Williams (1997), permits the estimation of ''true'' probabilities, which we find, for suitable parameter values, accurately reflect the subsequent outcomes. Our conclusion suggests that bookmakers in Ireland are infinitely risk-averse and balance their books. We cannot distinguish between inside information and operating costs, merely concluding that combined they account for up to 3.7 per cent of turnover.
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SSP SPORTS BETTING SPAIN. Tuesday, December 4, 2007. Tuesdays Soccer – By Chris. Milan - Celtic 2.70 - 1.91 - 7.00 Whatever the coaches are saying in their pre match talk, I take it for granted that this game will end in a draw (1.91). There is too much at stake and no need to complicate things. Milan will leave for cup games in Japan immediately after this fixture and their players will appreciate " a non competitive affair" with Celtic. The Milan coach Ancelotti said in La Gazetta that he will use his strongest squad while Celtic will be without both J Kennedy and L Naylor, the defenders that played from the start against Shaktar last week. S Pressley and O'Dea will come in instead. Still no Nakamura. Last season, when Milan won the Champions League, they failed to beat Celtic in normal time at San Siro (0-0). Their winner coming in extra time. Another draw tomorrow. (1.91) Shaktar Donetsk - Benfica 1.73 - 5.60 Shaktar never looked like losing away to Celtic last week, dominating the first half only to see Celtic score a last minute equaliser. Incredibly enough Celtic also found the winner in the last minute of the second half. Typical Celtic home win. Shaktar need to win this match and Celtic have to lose in Milano. Not very likely but if it should happen and Shaktar will do their job, the play offs await. Shaktar will be boosted by the return of the very important Fernandinho to the squad. Benfica lost the big domestic game 0-1 vs. Porto at the weekend. They could not really afford to lose with Porto now 7 points ahead of Benfica. I doubt if the Benfica players can dig deep and find motivation enough for this game. By beating Shaktar they will qualify for the UEFA Cup. Winning against Porto would have tasted better. Anyway, Benfica will be without their winger C Rodriguez and Binya remain suspended. Winter in Ukraine - certainly not a help for Benfica. Likely home win but uninteresting odds! (1.73). Bristol City - Ipswich 2.35 - 3.10 I like to think that the Bristol players are desperate for revenge tomorrow (2.35). Only a few weeks ago they went to Ipswich and suffered a humiliating 0-6 defeat. Bristol have been through a shaky patch but returned to winning ways at the weekend, beating Watford 2-1. D Byfield, C Skuse and L Trundle were all substitutes in the Watford fixture but they are pushing for starting roles tomorrow. J McAllister returns from his suspension. All is well for B City ahead of this game. Ipswich will travel with the same 18 man squad that drew 0-0 with Barnsley at the weekend. First point loss at home for Ipswich. Away from home Ipswich are 0-4-5! Home win for B City (2.35). Norwich - Plymouth 2.65 - 2.75 Much better football by Norwich since G Roeder took charge of the club. OK, they lost away to Stoke at the weekend, but before that they had two straight wins. J Otsemobor and L Chadwick should be back into contention tomorrow and there is also a chance that we will see C Evans, the young M City striker from the start and he is said to be something special. D Dublin, J Cureton and C Evans - two from these three will start. Plymouth will be without their winger L Martin. Revenge is the name of the game in this fixture as Plymouth won their home game vs Norwich 3-0. That was the first game for Roeder. Home win for an improving Norwich side. (2.65) Burnley - Leicester 2.10 - 3.75 It has been an incredible last seven days for Burnley. They won both their tricky away games at Watford and Charlton, 2-1 and 3-1.Talk about new coach effect! Andy Gray is leading their offensive line as always and Burnley will be unchanged tomorrow. Leicester will be without DJ Campbell, M Fryatt, C John, E Hammond, J Wesolowski and J Chambers. The first four are all strikers and that makes you realise the problems that coach Holloway is facing up front. C Cort is not 100% fit, but he has to play, joining I Hume. Burnley to win! (2.10) Barnsley - Wolves 2.80 - 2.50 Tricky game of course but I cannot understand why Wolves are considered favourites. Barnsley are 6-2-1 at home and they have not lost there since August. A few days ago Barnsley became the first club to pick up a point at Portman Road vs. Ipswich. Important duo B Howard and J Campbell-Ryce return for this match. Wolves are set to field an unchanged squad. It looks like J Craddock will have to wait till Saturday for his come back. Wolves are extremely tight defensively at the moment and they have for example won their last 3 home games, all 1-0, including their home fixture against this Barnsley side. Barnsley will be my call here. (2.80) Southampton lost their 7th defender to an injury at the weekend. P Ifil was the victim this time and he is out of the match vs. Sheffield Wednesday. Viafara and N Dyer are major injury doubts and could be that Wednesday have a decent chance of overcoming Southampton tomorrow. The odds on the away win are 3.75!
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Michigan launches online sports betting, casino games Friday. LANSING, Mich. (AP) — Online sports betting and casino games will start in Michigan at noon Friday, an expansion of options for gamblers who now wager through offshore sites. State regulators have authorized licenses for all three Detroit casinos and seven of the dozen tribes with “Class III” casinos. Additional operator and platform provider licenses are expected to be approved in coming weeks. Michigan Gaming Control Board Executive Director Richard Kalm this week called the launch a “new era,” saying it will give casinos an additional way to engage with customers and provide state and local governments with extra tax revenue. Large players in the U.S. mobile gambling market such as DraftKings, FanDuel and BetMGM are launching apps and enticing people age 21 and older with deals to sign up. Big sporting events this weekend including the AFC and NFC championship games and a UFC bout featuring start Conor McGregor. Sports and internet gambling were legalized under a law enacted more than a year ago, before the coronavirus pandemic struck. Casinos began accepting in-person sports wagers in March but had to wait for the creation of a licensing system for online operations, which have taken on increased significance amid state-ordered shutdowns or capacity restrictions at casinos to curb COVID-19. “It’s clear to us that there’s incredible demand among Michiganders for at least sports betting. But my expectation is that online casino and in due course poker will be equally popular,” said BetMGM CEO Adam Greenblatt. His company’s app — previously launched in 10 states — is connected to MGM Resorts, including the Detroit casino and hotel. Greenblatt said the state’s 8.4% online sports betting tax is “very sensible,” allowing licensed operators to compete with offshore sites. “You’ve got a group of players who have long been betting offshore. We would like to see them bring their play back on shore,” he said. He said there will be minimal if any “cannibalization” of business from players who typically visit casinos but instead will play on the internet. “We see an expansion of the market — so new players coming in to enjoy our product,” Greenblatt said, adding that MGM, like other casinos, will incentivize online gamblers to redeem rewards points by visiting onsite. Casinos offering online games like blackjack will pay a tax of between 20% and 28%, depending on their amount of adjusted gross receipts. Net new annual revenues to the state and Detroit, which has commercial casinos, are projected to total $18.6 million and $13.7 million respectively, according to the Michigan Department of Treasury. The money will go to the state’s school aid fund, which covers public schools. It also will be earmarked to a state fund that compensates first responders for lost wages and medical benefits if they get cancer from fighting fires. Municipalities with tribal casinos will receive a portion of tax revenues, too. Noting of flurry of internet gambling and sports betting ads in recent weeks, state Attorney General Dana Nessel urged potential online gamblers to read the fine print before signing up. “In some instances, site users may be required to spend or deposit a certain amount of money into an account before receiving their free play credits, and users should make themselves aware of such conditions so they are not taken off guard,” she said.
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Michigan Online Sports Betting Review: How 6 Apps Fared, Plus Early User Data Figures. Michigan launched online sports betting on January 22, with a handful of companies offering their services in the 10th most populous state in America. I downloaded six of the sports betting apps to test them out during the first weekend. Here is a look at how they fared in terms of downloads, potential market share and promotional offers. DraftKings: The app from Draftkings Inc (NASDAQ: DKNG) is incredibly easy to use, which shouldn’t come as a surprise given the company's strong market share in the states it operates in. What was surprising was how hard it was at first to login and use the app during the first weekend live in Michigan. The app crashed numerous times and unfortunately became the app used the least by me due to tech problems. DraftKings offered signup bonuses, matching deposits and $100 free to play blackjack in the casino portion of the app. The company had some bets that were pretty close to being guaranteed winners, such as on the chances of a first quarter touchdown or more than 0.5 touchdowns scored in the NFL Conference Championship. FanDuel: Flutter Entertainment ADR 's (OTC: PDYPY) FanDuel app had several login problems for me, but operated very well during the first few days of legal betting in the state. The app did feature a warning the first couple days that due to increased volume, settlement on some winning bets could take up to 30 minutes. Barstool Sportsbook: The Barstool Sportsbook was launched by Penn National Gaming, Inc (NASDAQ: PENN) in Michigan. Barstool offered $10 in free bets for new users in the state and another $5 for those who filled out their favorite sports on their profile. One of the things that really sets the app apart from the competition is Barstool's unique personalities for betting ideas, such as odds boosts and suggested bets. BetRivers: The lesser known BetRivers brand comes from Rush Street Interactive Inc (NYSE: RSI), which went public via a SPAC. The company offered free promotional money to people who signed up on opening weekend. The app was easy to use and offered a wide range of prop bets and odds-boosted events. Many of the boosted bets came with limits of $100, higher than competitors. PointsBet: Another lesser known company, PointsBet Holdings Ltd. (OTC: PBTHF), puts out one of the apps I was looking forward to testing out. One of the promotions PointsBet offered was betting on the Detroit Pistons spread. For every point the Pistons scored, users got $1 in free bets. BetMGM: A joint venture between MGM Resorts International (NYSE: MGM) and GVC International, the BetMGM app is very easy to use, and I was surprised with the amount of odds boosts from the company. Other Options: Other companies that launched in Michigan but whose apps I did not test or download were Golden Nugget Online Gaming (NASDAQ: GNOG), William Hill, Wynn Resorts, Limited (NASDAQ: WYNN) and TwinSpires, owned by Churchill Downs, Inc. (NASDAQ: CHDN). Michigan also recently approved sports betting and online poker from Fox Bet, which is partially owned by Fox Corp (NASDAQ: FOX) and Flutter Entertainment. Early App Data: Michigan is expected to release official sports betting figures in late February. Bank of America analyst Shaun C. Kelley is out with some early data about the companies that launched online sports betting and iGaming in Michigan. App download data shows DraftKings and FanDuel as the early leaders in the state with 40% and 27% market share, respectively. Barstool Sportsbook and BetMGM fought it out for third place with 14% and 13% of app downloads, respectively. The app downloads showed lower numbers from William Hill, PointsBet and TwinSpires. BetRivers offered an online download and not a mobile app, so downloads were not reported. Kelley sees Michigan market share shaking out to 30% share for each of FanDuel and DraftKings, and 10% to 15% each for Barstool Sportsbook and BetMGM. Others could have single digit market share, according to Kelley. Benzinga’s Take: As you can see, the betting platforms tested offered some large incentives to get users to sign-up as well as place bets on Michigan-related teams. The question will now turn to which app is the best and easiest to use and which one users stick around for. The early results show sets of tiers for the sports betting players in Michigan. DraftKings and FanDuel look like early winners, followed by Barstool and BetMGM. The race could be for third place, then shaking out if any other app can gain 5% share in the state.
An Updated Legal Structure Helps Expand Online Betting Options. News provided by. Feb 03, 2021, 09:00 ET. Share this article. NEW YORK , Feb. 3, 2021 /PRNewswire/ -- Two major segments of the online gambling industry are online gaming (i-gaming) and sports betting. Both have proved to be a pandemic proof segment. The sports betting segment in particular has benefited from a continuously improving and friendlier legal infrastructure. For example, a report by the Chicago Sun-Times indicated that New Jersey gamblers set a nationwide record for the most money bet on sports in a single month, spending almost USD 668 Million in August on events including resurgent baseball, basketball and hockey seasons that had been interrupted by the outbreak. As a result of the evident spike in demand, Morgan Stanley reported that it now projects that the domestic sports betting industry will reach revenues of about USD 7 Billion by 2025, a major increase from the USD 5 Billion projected in June 2018 and reiterated last December, Casino.org reports. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), International Game Technology PLC (NYSE: IGT), Scientific Games Corporation (NASDAQ: SGMS), Boyd Gaming Corporation (NYSE: BYD), Churchill Downs Incorporated (NASDAQ: CHDN) The shift to a more favorable attitude towards online gambling services is visible across the board. According to data published AGC, nearly 7 in 10 (69%) Americans say that gaming provides a positive benefit to the U.S. economy and 63% agree that the industry provides high-quality jobs. At the local level, 69% say that the industry behaves responsibly in the communities. "Voters are also aware of the importance that gaming tax money plays in funding vital public services, as 76% of voters believe that the industry's tax payments to state and local governments will become even more important in the future due to COVID-related budget shortfalls," the report indicates. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS) and Vancouver -based OneComply Inc. announced last month that they have, "entered into a partnership. OneComply, a compliance and licensing solution, will assist FansUnite as they enter additional North American legalized gaming jurisdictions by advising on protocol and strategy. This move follows the June 2020 announcement by FansUnite of the amalgamation with Vancouver -based Askott Entertainment Inc. to create one of Canada's leading online gaming companies, focused on sports betting, esports wagering, and casino games. 'We are pleased to be partnering with OneComply as we look to tackle the North American gaming market,' said Scott Burton , CEO of FansUnite. 'As a licensed betting and iGaming company, we understand how difficult and nuanced the licensing process can be. With the help of OneComply, we will be able to streamline the process to enter new North American markets and showcase our suite of gaming solutions to a broader audience.' The repeal of PASPA, being the Professional and Amateur Sports Protection Act, has created a wave of newly regulated States across the United States' gaming market. Companies seeking to gain market entry into these States face massive regulatory processes to obtain operational licenses. The United States legalized gaming industry is State-regulated, meaning companies need to file for each jurisdiction independently. These individual disclosure filings can be thousands of pages in size resulting in substantial internal and external expenses. 'The amount of opportunity in North America for new-to-market companies can be overwhelming given the various licensing processes and jurisdictional requirements, with companies no longer trying to enter one jurisdiction, but multiple jurisdictions simultaneously. This creates a tremendous amount of lag in productivity even with the most seasoned of compliance and legal teams,' said Cameron Conn , CEO of OneComply Inc. 'We understand the importance FansUnite places on regulation, and we look forward to supporting them scale in the North American market.'" International Game Technology PLC (NYSE: IGT) announced last year that its leading PlaySports platform will power world-class retail sports betting at Maverick Gaming's three Colorado -based casinos as well as interactive sports betting throughout Colorado via Play Maverick Sports. Through a multi-year agreement with Maverick Gaming, IGT will provide its proven PlaySports turnkey solution including user-friendly self-service PlaySports kiosks, to Grand Z Casino and Johnny Z's Casino in Central City, Colo. and Z Casino in Black Hawk, Colo. The IGT PlaySports platform, complete with a fully integrated Player Account Management (PAM) solution, will also power Maverick Gaming's "Play Maverick Sports" mobile sports wagering app. Scientific Games Corporation (NASDAQ: SGMS) announced last year that it is partnering with Genius Sports Group, a leading provider of sportsbook management solutions, to provide in-game content to its wagering customers worldwide, excluding U.S. leagues. Sportsbooks operating on Scientific Games' OpenSportsTM platform will gain access to Genius Sports Group' LiveData and LiveTrading services, trusted by over 150 of the world's largest wagering brands and fully customizable for every customer. Genius Sports Group and its sports betting division, Betgenius, created the market for official data across all tiers of sports and today offer partners access to official data for over 170,000 events each year. Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group announced in September the debut of the FanDuel Par-A-Dice Sportsbook in the state of Illinois . Sports bettors across the state of Illinois now have access to FanDuel's industry-leading online and mobile sports-betting platform, with wagering options available in professional football, basketball, baseball, hockey and more. Additionally, FanDuel will operate a retail sportsbook located at Boyd Gaming's Par-A-Dice Casino in East Peoria, Illinois , pending regulatory approval. Keith Smith , President and Chief Executive Officer of Boyd Gaming, said: "Given the tremendous success of our existing FanDuel Sportsbooks, we are confident that the FanDuel Par-A-Dice Sportsbook will quickly become Illinois sports bettors' mobile app of choice. We are excited for the opportunity to offer both mobile and retail sports betting in one of the most populous states in the country, as we continue to expand our strategic partnership with FanDuel Group."
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