Sports betting odds: The allocation of odds by bookmakers

Odds are at the heart of the online sports betting system. To better understand this aspect, we suggest that you take an interest in the assignment of a sports betting rating by bookmakers in our guide .

Thus, you will quickly find out how these probability indices are calculated and how bookmakers do everything to make money while remaining attractive. From calculations to computer software, including traders, you will know everything.

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A quick reminder about sports betting odds

You may already know this, but a rating corresponds to the probability that a situation will occur. Presented in several forms according to the models of each country (a decimal digit, a fraction, or a positive / negative rating), the ratings are there to multiply your bet in case of victory.

To put it simply, if the Montreal team has a odds of 1.5, while the opponents from Toronto have a odds of 3.2, then the Quebecers from Montreal are designated as the favorites by the bookmaker. These sports betting odds can also be calculated according to a percentage to better know your chances of winning your bet.

Here are the three largest rating families :

The European rating

Also called decimal rating, it is the the most common type of rating in Europe. Less on the European continent, but it is important to know it. The Europeans obviously think that this is the most logical of all, because it is a simple win multiplier. This rating is in the form of a decimal digit, such as 0.5, or 5.25. For example, you decide to bet on a football team whose odds are at 2.20. If you bet $100 on this team and you win your bet, then your win will amount to 2.20 X 100 = $220. Child's play, isn't it? This rating model is so easy to understand at a glance that it is fast becoming the global standard. We advise you then to familiarize yourself with, if you are less used to seeing the types of odds that will follow!

The British rating

From its little name faction format, the British rating is like everything about them: apart. It was in the nineteenth century that they set up this somewhat bizarre system. From a completely logical point of view, it remains in the line of the decimal rating, the English simply decided to transform this system into a fraction ! So the decimal value of 0.5 gives a British value of 1⁄2. For the English, it flows from the source, but for the Europeans (yes, because now the distinction is official!) it is necessary to have a certain mental calculation gymnastics, that is, to convert the fraction into a decimal. Small test, a British rating in 3⁄4 gives a European rating of... ? 0,75 ! Congratulations for those who follow! So if you bet $100 on a team with such odds, you will win $75. We agree, this example of a bet is not advantageous at all, but we had to find a simple way to explain this eccentricity to you!

The American rating

Soberly nicknamed the US format, the american rating is very blurred for Europeans. First of all, know that it is possible that the rating in America is positive, or negative. To translate into decimal language, you will definitely have to go through a paper voucher, or a calculator for the most panicked! The formula is as follows. (100/American rating) +1. And to calculate the most interesting, that is, how much you will win, it will be necessary to calculate this way: bet X (American odds/100) +1. We hope that they are more used to it than we are, because the American ratings give us cold sweats, even as professionals in the field! To give you a concrete and demonstrative example, if you place a bet of $100 and the American odds are at 185, let's calculate the win: 100 x [(185/100) +1]=285, and 100 x (185/100) = 185, you will win $185 on this bet. Get started, with small sums and small bets, so you can familiarize yourself with all these odds systems! Most operators offer a feature that allows you to change the odds system so that it is more readable according to the preferences of the bettors.

How are sports odds calculated?

The sports odds are established by clever calculations between the statistics of the two teams, and a manual adjustment by the sports traders depending on the shape of the moment, injuries, etc... Of course, bookmakers also take margin on each bet, between 5 and 10%. Find out everything there is to know about sports betting quotes.

What is a odds in a bet?

We will help beginner players to understand the sports betting odds . A odds is a numerical proportion given by the sports betting site. It defines both your potential gain and also your chances of winning. Bookmakers use different criteria to establish their odds (statistics, traders' opinions, etc...).

To calculate your potential win, simply multiply your bet by the odds.

• Example : you bet $100 on Rafael Nadal at odds of 1.80 against Federer. If Nadal wins his match, you win 100x1.80 = $180.

Some bookmakers are famous for offering higher ratings than their competitors. We think in particular of Betway or Spin Sports which are regularly praised by the players.

How to calculate a sports rating?

If you want to calculate a sports betting odds yourself, here is the calculation to use :

• Gross odds = 1/ (probability of an event)

For example, if you estimate that a team has a 70% chance of winning, then its odds will be 1/0.7 or 1.43. If you see that the bookmaker has a odds higher than 1.43, then it may be interesting to bet on this match .

It is therefore essential that you make according to your personal analysis a evaluation of the chances of winning of the team on which you want to bet. This will allow you to determine whether the bookmaker is under- or over-betting the team in question.

How do bookmakers calculate the odds?

Thanks to the evolution of technologies, online bookmakers currently use computers and specialized software to set most of their sports odds. These computer systems are capable of supporting thousands of data to output an accurate calculation of a rating. Following the definition of different statistics, the bookmaker will be able to place the most advantageous odds in his regard.

In this mathematical calculation, the bookmaker's margin and the payout redistribution rate will be taken into account. In addition, the online betting site must assign lucrative odds for its finances, but also attractive for players. However, it must always be borne in mind that the bookmaker will always be the big winner. Even if it sometimes happens that its odds are undervalued, it is very difficult to beat the computer system of the prediction site.

The role of the sports trader on sports odds

If the calculation software is preferred by bookmakers, there are still parameters that it cannot take into account. Therefore, online betting sites employ sports traders . Even if its role is less influential than the computer, it is the person who will be able to change the sports odds according to a specific situation. For example, when a player gets injured or if he considers that a team is in a good dynamic, the trader adjusts the odds according to his intuition.

Thus the bookmaker offers a great responsibility to these sports traders. This person is going to have to analyze the risks and follow the trend of the players to ensure a certain profitability thanks to a mathematical method to win at sports betting among other things. For example, the bookmaker must ensure that the number of bettors is similar for each of the possible odds and outcomes. If all players prefer a sports betting odds, it is because it is too attractive. The trader will therefore take this parameter into account to adjust the bookmaker's odds as well as possible.

Another important role of the sports trader: he must ensure the attractiveness of the bookmaker. For this marketing area, the quotation company must analyze the competition so that bettors favor its sports betting site. A trader is constantly looking for information!

An interesting service: the boosted odds

Some bookmakers offer special offers and punctual to satisfy their customers. Among them, we find the boosted odds . The sports betting site may decide to highlight a specific bet, increasing the odds of this bet.

• Example : during the 2019 World Cup final, some bookmakers had decided to boost Mbappé's goalscoring rating . While her base rating was 2.50, she found herself boosted to 3.00. If you bet $100, you will win $300 instead of $250.

It also happens that betting sites offer boosted combis . On the same principle as the boosted odds, a match combination chosen by the bookmaker has its odds increased.