Betting Odds

What are the Betting Odds?

When you bet online on sports events, the amount of the win, being good and lucky in formulating and going to get the prediction right, is proportional to a parameter that is called odds. But, for those who do not know, what is a share?

Well, the concept of quota is very simple to understand as it is an integer or decimal number that corresponds to the inverse of probability. Suppose, for example, you want to bet on the match Juventus-Milan for which the bookmakers, on the final result 1X2, assigns a probability out of two for the victory of Juventus, a probability out of three for the draw, and a probability out of five for the outside shot by the Rossoneri.

In that case, the betting operator will pay Juventus' win with an odds of 2, which corresponds to the inverse of 1/2=50%, i.e. one probability out of two. In the same way, the share for the draw will be equal to the inverse of 30%, or 3.33, while for the victory of Milan will be equal to the inverse of 20%, or the inverse of 1/5=20% which is equal to 5 times the bet. To understand what is the altitude, then, just do a small mathematical calculation as it applies the formula 1 divided by the probability of a bet outcome.

Each bookmaker, in setting the odds, on the one hand must make them attractive, and on the other must be such that the operator does not suffer losses at the end of each event. Not by chance, in antepost mode and even more so when the bets are live, the odds proposed by the online bookmaker tend to vary according to the growth or decrease in the amount of bets on a specific result.

Example

For example, if on the match Naples-Benevento initially the bookmaker pays 1.20 times the mail, the odds will tend to fall if all bettors bet big on the victory of Naples, otherwise it will tend to fall if, however, the preferences of players move to the draw or even the blame by the 'Sorcerers'.

For single bets, the win will be equal to the amount played multiplied by the online betting odds proposed by the operator, while for multiple bets, the win will be given by the product between the amount wagered and the total system odds. For example, if you bet 5 Euros on three selections all paid at 2 times the stakes, then the payout will be 5 x 2 x 2 x 2 = 40 Euros.