Math is part of our everyday life – at our offices, homes and definitely in betting industry.
As bettors, we’re always searching for new strategies to beat the bookies. More than often, we see different connections between maths and sports, which are used by the most excellent tipsters. Some of them are basics of sport predictions posted on many websites.
Becoming a successful and profitable bettor requires an in-depth understanding of odds computation coupled with the knowledge of how bookmakers operate.
The primary function of bookies is almost the same with that of a stockbroker in the betting industry. They collect money from different individuals on various results, and at the end of the event, they make payment to the winners. However, they get a compensation fee – known as the margin – for the service they offered with the aim of making profit.
Online bookmakers have a group of individuals called odd compilers – traders. They are responsible for setting the odds based on a combination of statistical probabilities and popular supposition with the aim of representing the possibility of every outcome, in addition to the margin.
For every game, the odd compilers have to represent the form of the squad, injuries of key players, the influence of the public, the referee, etc. By considering all the factors, they initially calculate the real possibility of an event and the cost in the margin.
Online bookmakers has also improved the betting experience with the introductions of apps like the Bet365 Mobile Apps which enables you have access to a wide variety of markets, sports on which to bet, different promotions and the special “In-Play” bets section. In this section you can track how the odds change in real time and the Live Streaming section will allow you to follow the match you have bet on directly from your mobile device. Considered to be one of the leaders in the betting industry, with over 10 million users from different parts of the world, Bet365 which was founded in 1974 in the United Kingdom, has been taking the lead in favorable betting for it bettors.
With their mobile version or app, you will have full access to a lot of options such as the much-preferred IN-PLAY bets where the game development and change in odds is being tracked in real time. Also, you can place your bets while the match is going on. In the “Live” section you can bet on some of your favorite sports such as Football, Tennis, E-sports, Badminton, Basketball, Cricket and many others. For more info on this profitable app, check out the bet365 mobile app guide.
A game can be estimated at a range between 101% and 120% depending on the market and the wagering action.
Strategic punters try to maximize their profits by getting the highest possible odds. The higher the margins of a bookie, the lower their odds return is, as margins can influence profitability.
You ought to know the margins the bookie you wager with is putting forth. If they offer markets like the Premier League with margin above 104%, it’s better to wager with a bookie with lower margins.
While bettors gamble, traders don’t. They aim to ensure that they get wagers on the results of all outcomes proportionally – known as ‘balance the book’- with the goal of making a profit regardless of the outcome.
When the odds are published, traders intently monitor the continuous inflow of the stakes and how they are circulated among different results. If the stakes are placed according to traders’ computation, then the odds will be stable. But if a disproportionally large amount of cash is positioned on one side of a wager, the odds will be recalculated.
For instance, let’s assume Arizona Cardinals will play against NYC, and 100 bettors wager $1 as follows
Arizona Cardinals to Win – 1. 551 with a bet distribution of 75%
Draw – 6.75 with a bet distribution of 10%
NYC to win – 4,55 with a bet distribution of 15%
If Arizona Cardinals wins the match, the bookie will collect $100 and will pay out $75 X 1.551 = $116.325. In this situation, the software utilized by the traders will begin to show a loss and traders will have to recalculate the odds.
These alterations are constant and performed by all betting companies in an attempt to balance their books. It’s the readjustments of odds that permit arbitrage wagering, what is commonly called “sure bets.”
A host of websites applies a low margin strategy to all market. This information, however, takes you one step ahead of an average bettor. So begin your journey to becoming a strategic long-term profitable bettor today!