The odds are the first thing a beginner who wants to bet on any sporting event will face. The odds express the bookmaker’s opinion in the numerical form of the event outcome. Assigned to each betting line outcome and used to determine winnings. The winnings are calculated according to the formula: the bet amount is multiplied by the sports betting odds. It sets the payout the player will receive if the bet passes.
Experienced players prefer bookmakers with high sports betting. Mostbet is such a gaming establishment. Place bets and calculate the event’s outcome with the possibility of getting a high win.
Types of Betting Odds
Today there are several types of betting odds. The main types and their features are described below. All bets are alternatives to each other and do not have the most differences.
- Fractional or British odds. This type represents the ratio of the amount won to the bet. It is a potential return, including the bet too. Fractional betting odds in sports betting are most popular in the UK. They are mainly used in horse racing. They are quite difficult to compare with other odds formats. The fractional amounts show the profit the player receives from the winning bet to the bet made. The odds are displayed as 10/1 or 7/2. You can use this simple equation to calculate the potential profit from fractional odds: ((numerator/denominator) +1) * stake = return.
- Decimal or European odds. It is the best betting odds for comparing prices between bookmakers, as it is the most straightforward format. It is the amount of the winning for every dollar wagered. It is enough to use the formula: odds x bet = return (includes the bet) to calculate the winnings.
- Money line odds or American odds. The American odds can be negative or positive. They can also indicate the amount that must be wagered to win the money or the sum that can be won for each bet placed. American odds are the money line or US odds. The negative number shows how much you need to bet to win $100. Favorable odds indicate how much you can win if you bet $100. It is essential to understand that you do not have to bet the amount equal to the money line – you can bet more or less, and the income depends on the bet. Calculation to see income on negative money line: (100/negative money line ratio) * rate. The calculation to see the return from a positive money line is Positive money line odds * (bet/100).
A less common type of odds is the Vegas odds. It is mainly used in American money lines that have a spread of points and the total number of issues a bookmaker expects will be earned. In such bets, you can use deposits above or below the bookmaker’s score and indicate the difference in points.
All the main types of odds are valid in the Mostbet gambling establishment, where you can safely try your luck and win big money.
How do bookmakers form odds for sports betting?
The odds show the resulting probability of a sporting event, according to the bookmaker’s analysts. Ideally, it shows equal to 100%. The odds are calculated according to the formula k=1/p, where k is the odds and p is the probability (from 0 to 1). For example, the chances of an even score in basketball are 50%, meaning the value will be displayed as 0.5 in the formula.
Online casino analysts, for example, Most bet, thoroughly study the upcoming sporting event, prepare statistics and use probability theory. They may also involve independent experts for accurate decision-making. Thus, the BC decides which team will win first. Based on the received quotes, a team with real winning chances is selected. For example, an objective probability assessment of the result of a sporting event:
- victory of team 1 – 70.2%;
- draw – 15.3%;
- victory of team 2 – 14.5%.
The sum of real probabilities is 100%. In this case, the majority will bet on winning the first team, so the bookmaker artificially lowers the quotes for the W1 outcome, increasing the sum of the probabilities for the event. After such manipulations, the following is obtained:
- odds on P1 – 1.54 (probability 64.8%);
- odds on X – 4.22 (probability 23.7%);
- odds on P2 – 5.4 (probability 18.5).
The probability sum for the market is 107%. Divide 100 by the ratio to calculate the margin. The scheme is suitable for any bet type (for example, each team to win and draw for a total over and under, etc.). Add up the results and subtract 100. Thus, the player will determine which team it is worth betting money on based on how the probability of an online casino or bookmaker calculates.
What is probability?
Probability is a conditional event calculation that must occur or can have a value between 0 (0%) and 1 (100%). A value of 0 indicates that the outcome is impossible, and a value of 1 indicates a specific positive outcome. For example, if you toss a coin, the probability of getting heads is 50%, and in throwing dice, the probability is 3 – equals 1/6=16.67%.
In sports betting, the calculation of probability is somewhat more complex. It is impossible to calculate the sporting event accurately. You can use any statistics and take into account all the factors that affect the result, but the final total cannot be calculated, because the total is influenced by many factors.
What should we do in the current situation? The player can calculate the chances of a particular outcome. It is what bookmakers do. The odds set by the bookmaker reflect the relative likelihood of possible effects, but they are not accurate based on all possible probabilities. Thus, the bookmaker’s estimate includes the results that can occur with the correction and the margin provided.
Most bookmakers put the odds in their favor. Not everyone has a high return rate. Therefore, we recommend keeping statistics, understanding the chosen sport, and trusting honest bookmakers like Mostbet.
The highest odds in sports betting at Mostbet
What sport to choose for betting to have a high percentage of return? It is one of the most common questions asked by both newbies and experienced bettors. In Bangladesh, one of the honest bookmakers is deservedly considered Mostbet. Anyone can get acquainted with the high rates of return. All information is available after registration. We will also give some examples of sports that you should pay attention to answer the question posed.
- Football. It is the most common sport in betting. Mostbet offers many sporting events such as the World Cup, UEFA League, UEFA Europa League, Copa Libertadores, Asian Cup, etc. You can also bet on individual teams that you support. For example, bets are accepted on such sporting events as Liverpool-Manchester City. The highest odds are 4.05×2.85.
- Tennis. Pretty intense sport. It is proposed to bet on each earned point, set, or game. Today, there are fewer sporting events compared to football, but they are no less exciting.
- Table tennis. Matches are held in the Czech Republic, Belarus, and Russia. Also a popular sport in betting.
- Rugby. Quite an exciting sport with the ability to bet on the World Cup or matches held in different countries. You can also follow the games held by men’s or women’s teams.
- Formula 1. Those who do not like sports, but love cars, will be interested in betting on races. Choose your favorite drivers and fast cars. For example, bet on the US Grand Prix event. Race. Winner.
Thus, to bet on sports, it is necessary to engage in analytics and calculate the actual probability of winning a particular team or individual player. Mostbet bookmaker offers many world sporting events with the highest odds and fair payouts. Bets are accepted in the national currency Taka (BDT).