Sportsbook guide, interesting bonuses.
Betting odds is undoubtedly the essence of sports betting. The fact whether the forecast is attractive for the bettor depends on the value of the odds. The process of setting betting odds is not as simple as it might seem.
1 - Calculation of percentage ratio (hypothesis - 11 % margin)
PR - 100 % * 1 / M
PR - 100 % * 1/0. 11
PR - 100 % * 90.09 %
Explanation:
PR - percentage ratio
M - margin
2 Calculation of the probability
Barcelona - 0.5 x 90.09 % = 45.04 % (chances of Barcelona’s victory)
Draw - 0.33 x 90.09 % = 29.73 % (chances that the match will end in a draw)
Real Madrid - 0.28 x 90.09 % = 25.23 % (chance of Real Madrid’s victory)
3 Setting odds
The formula:
O = 1/PP
Explanation:
O - odds
PP - the result probability percentage minus our margin (11%)
O = (1/PP) x 89 %
OBarcelona = 1 /0,5 x 89 % = 1.78
ODraw = 1/0.33 x 89 % = 2.69
OReal = 1/ 0.28 x 89% - 3.17