If a running condition is the minimum odds of 1.50 then the bettor will try to bet on odds with a value greater than 1.50 although he would not normally want to do so.
What are the betting odds?
To be a successful 카지노 사이트 gambler you need to know what the odds are and what they represent. At the betting agencies you can find in their offer three types of odds, namely Decimal (2.50), Fractional (6/4), American (+150).
In the country, the most used type of bet is the Decimal one, being also the easiest to understand.
Let’s take the 2.50 odds as an example , to find out how much you will win if you bet on the 2.50 odds you just have to multiply the bet amount by the odds value, if you bet 100 Ron on the 2.50 odds then you will win 100 x 2.50 = 250 Ron, of this amount 100 Ron represents the amount bet by you and 150 Ron represents the profit from this winning bet.
Sports betting odds are a numerical representation of the odds of an event succeeding, it probably sounds a little strange at first reading but we will clarify further.
How do bookmakers calculate odds?
Now that you know how odds are represented (for example 2.50) you need to know why a bookmaker offers odds of 2.50 and not 2.00 or 3.00.
As we said above, the betting odds is actually a translation of the probability of an event and a odds of 2.50 means that that event has a 40% probability.
This expression is theoretical because there is no bookmaker that calculates a 40% probability and offers a odds of 2.50 but less, you should know that any odds displayed by the bookmaker includes the profit margin with which it operates. .
Theoretical example for the match Steaua – Dinamo
- Steaua – 50% is the probability that it will win the match with Dinamo
- Dinamo – 30% is the probability that it will win the match with Steaua
- Draw – 20% is the probability that the match between the two teams will end in a draw
Practical example for the match Steaua – Dinamo
- Steaua – 52% is the probability that it will win the match with Dinamo
- Dinamo – 32% is the probability that it will win the match with Steaua
- Equal – 24% is the probability that the match between the two teams will end in a draw
Adding the 3 probabilities (50% + 40% + 20%) we get the value of 100% which if they were translated into reality, it would make the betting agency that offers them a non-profit so that the operating expenses would not be covered and in a short time that bookmaker would go bankrupt.