Sportsbook odds are based on odds
Have you ever wondered how sports bookmakers, like sbobet88, decide what odd to pay for each of the football results?
Based on analysis and statistics of the matches, they launch different soccer predictions and their respective probabilities. From then on it is a matter of mathematics. Let’s look at this example:
If we flip a coin, the chances of it landing heads or tails are 50% for each event. Having said this, the fair share that should be paid in this experiment is 2. The calculation is very simple, the fair share is the inverse of the probability of the event:
- 50% chance
- Fair Odds 1 / 0.5 = 2
So why are sports betting odds often different at all bookmakers? The answer is that platforms like sbobetmobile, they charge a commission for the provision of the service and this is where these differences lie. If you are a sports bettor who follows the smart betting method, you will know that there is no problem with these commissions and you will go for the sportsbook that offers you the highest profit.
The bets where you always win (sure bets) are real.
Yes, it is true, sometimes there are scenarios in which making a bet on all possible outcomes (draw, win and lose) at the same time can generate a sure profit that does not depend on the final result. Here’s a real example of a 2018 World Cup match in Russia:
- France wins Draw Australia wins
- Bookmaker Wplay (odds: 1,25) Betplay (6.90) Zamba(0.23)
If we take these odds as a basis, our sports bet to generate profits regardless of the final result would be like this:
For our sports bet we are going to invest a total of $ 98,800
Bookmaker WplayBetplayZamba
Money $ 80,000 $ 14,500 $ 4,300
T. Profit $ 100,000 $ 100,050 $ 98,900
In this case, regardless of the result of the match, the sports bet will be profitable because from a total expenditure of $ 98,800, a minimum income of $ 98,900 will be generated.
That your sports bet is always for the lowest odds, is not a good strategy.
As we saw before, the odds are purely based on probabilities. The fact that a result pays a very low fee therefore means that it is the most likely and least risky. If your sports betting strategy is to invest in these results, it is very possible that you are a conservative person and that you see in this type of betting the way to take care of your money. However, this is a strategy that does not work in the long term. Suppose that in a Barcelona vs Levante match, the fee they pay for a victory of the first one is 1.13 and your sports bet is $ 100,000 for that result. Additionally, we are going to assume that this hypothetical situation is repeated 100 times. If the conditions of this match show us that Barcelona win 75% of the time, it means that total income of $ 8,475,000 and a total expenditure of $ 10,000,000 will be generated.
Sports odds work on supply and demand.
If sports bettors are leaning heavily towards a specific fee, it is likely to be lowered to discourage interest. Suppose that Real Madrid’s victory is being paid at 1.13 and many people are investing there because they consider it to be a sure victory. Most likely, that quota will decrease and the draw and defeat quota will increase so that people will lean towards these results. The same happens in the opposite case; if a quota is not very desirable by users, it is most likely that it will go up.
