Bet Odds

Bet Odds Types of Live Betting

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Bet Odds

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UK Football Man Utd. Football Specials Dean Holden. UK Football Brentford. European Football Man City. To calculate winnings on fractional odds, multiply your bet by the top number numerator , then divide the result by the bottom denominator.

Odds correlate to the probability of a team winning, which is the implied probability. A favorite has about a To calculate implied probability, use the following formulas:.

As a responsible bettor, it is important to understand proper bankroll management. Your payout includes your potential winnings, plus whatever you bet originally.

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Bet Odds -

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This can be expressed with the smaller number first 1 to 2 or using the word "on" "2 to 1 on " , meaning that the event is twice as likely to happen as not.

Note that the gambler who bets at "odds on" and wins will still be in profit, as his stake will be returned. In common parlance, this is a " chance".

Guessing heads or tails on a coin toss is the classic example of an event that has even odds. In gambling, it is commonly referred to as " even money " or simply "evens" 1 to 1, or 2 for 1.

The meaning of the term "better than evens" or "worse than evens" depends on context. From the perspective of a gambler rather than a statistician , "better than evens" means "odds against".

If the odds are evens , betting 10 units would return 20 units for profit of 10 units. A successful gamble paying out at would return 50 units for a profit of 40 units.

So this wager is "better than evens" from the gambler's perspective because it pays out more than one for one. If an event is more likely to occur than an even chance, then the odds will be "worse than evens", and the bookmaker will pay out less than one for one.

However, in popular parlance surrounding uncertain events, the expression "better than evens" usually implies a greater than percent chance of an event occurring, which is exactly the opposite of the meaning of the expression when used in a gaming context.

In statistics, odds are an expression of relative probabilities, generally quoted as the odds in favor. The odds in favor of an event or a proposition is the ratio of the probability that the event will happen to the probability that the event will not happen.

Mathematically, this is a Bernoulli trial , as it has exactly two outcomes. In case of a finite sample space of equally likely outcomes , this is the ratio of the number of outcomes where the event occurs to the number of outcomes where the event does not occur; these can be represented as W and L for Wins and Losses or S and F for Success and Failure.

For example, the odds that a randomly chosen day of the week is a weekend are two to five , as days of the week form a sample space of seven outcomes, and the event occurs for two of the outcomes Saturday and Sunday , and not for the other five.

For example, the odds against a random day of the week being a weekend are Odds and probability can be expressed in prose via the prepositions to and in: "odds of so many to so many on or against [some event]" refers to odds — the ratio of numbers of equally likely outcomes in favor and against or vice versa ; "chances of so many [outcomes], in so many [outcomes]" refers to probability — the number of equally like outcomes in favour relative to the number for and against combined.

For example, "odds of a weekend are 2 to 5", while "chances of a weekend are 2 in 7". In casual use, the words odds and chances or chance are often used interchangeably to vaguely indicate some measure of odds or probability, though the intended meaning can be deduced by noting whether the preposition between the two numbers is to or in.

Odds can be expressed as a ratio of two numbers, in which case it is not unique — scaling both terms by the same factor does not change the proportions: odds and odds are the same even odds.

Odds can also be expressed as a number, by dividing the terms in the ratio — in this case it is unique different fractions can represent the same rational number.

Odds as a ratio, odds as a number, and probability also a number are related by simple formulas, and similarly odds in favor and odds against, and probability of success and probability of failure have simple relations.

Analogously, given odds as a ratio, the probability of success or failure can be computed by dividing, and the probability of success and probability of failure sum to unity one , as they are the only possible outcomes.

In case of a finite number of equally likely outcomes, this can be interpreted as the number of outcomes where the event occurs divided by the total number of events:.

This is a minor difference if the probability is small close to zero, or "long odds" , but is a major difference if the probability is large close to one.

These transforms have certain special geometric properties: the conversions between odds for and odds against resp. They are thus specified by three points sharply 3-transitive.

Swapping odds for and odds against swaps 0 and infinity, fixing 1, while swapping probability of success with probability of failure swaps 0 and 1, fixing.

Converting odds to probability fixes 0, sends infinity to 1, and sends 1 to. In probability theory and statistics, odds and similar ratios may be more natural or more convenient than probabilities.

In some cases the log-odds are used, which is the logit of the probability. Most simply, odds are frequently multiplied or divided, and log converts multiplication to addition and division to subtractions.

This is particularly important in the logistic model , in which the log-odds of the target variable are a linear combination of the observed variables.

Similar ratios are used elsewhere in statistics; of central importance is the likelihood ratio in likelihoodist statistics , which is used in Bayesian statistics as the Bayes factor.

Odds are particularly useful in problems of sequential decision making, as for instance in problems of how to stop online on a last specific event which is solved by the odds algorithm.

The odds are a ratio of probabilities; an odds ratio is a ratio of odds, that is, a ratio of ratios of probabilities.

Odds-ratios are often used in analysis of clinical trials. Answer: The odds in favour of a blue marble are One can equivalently say, that the odds are against.

There are 2 out of 15 chances in favour of blue, 13 out of 15 against blue. That value may be regarded as the relative probability the event will happen, expressed as a fraction if it is less than 1 , or a multiple if it is equal to or greater than one of the likelihood that the event will not happen.

In the very first example at top, saying the odds of a Sunday are "one to six" or, less commonly, "one-sixth" means the probability of picking a Sunday randomly is one-sixth the probability of not picking a Sunday.

While the mathematical probability of an event has a value in the range from zero to one, "the odds" in favor of that same event lie between zero and infinity.

It is 6 times as likely that a random day is not a Sunday. The use of odds in gambling facilitates betting on events where the relative probabilities of outcomes varied.

For example, on a coin toss or a match race between two evenly matched horses, it is reasonable for two people to wager level stakes.

However, in more variable situations, such as a multi-runner horse race or a football match between two unequally matched sides, betting "at odds" provides a perspective on the relative likelihoods of the possible outcomes.

In the modern era, most fixed odds betting takes place between a betting organisation, such as a bookmaker , and an individual, rather than between individuals.

Different traditions have grown up in how to express odds to customers, older eras came with betting odds between people, today which is illegal in most countries, it was referred as "odding", an underground slang word with origins based in the Bronx.

Favoured by bookmakers in the United Kingdom and Ireland , and also common in horse racing , fractional odds quote the net total that will be paid out to the bettor, should he or she win, relative to the stake.

However, not all fractional odds are traditionally read using the lowest common denominator. Fractional odds are also known as British odds, UK odds, [12] or, in that country, traditional odds.

Odds with a denominator of 1 are often presented in listings as the numerator only. A variation of fractional odds is known as Hong Kong odds.

And the number represents the total return , not just the profit like American and fractional odds. The Packers would be 1. The Vikings would be 2.

Fractional Odds are used primarily in the UK and Ireland. Few bettors use fractional odds for betting sports other than horse racing , because the conversions to understand return are difficult.

To calculate winnings on fractional odds, multiply your bet by the top number numerator , then divide the result by the bottom denominator. Odds correlate to the probability of a team winning, which is the implied probability.

UK Newton Abbot. UK Ayr. UK Lingfield. IRE Sligo. English Championship Tuesday 4th August Australian A-League Tuesday 4th August Chinese Super League Tuesday 4th August Club Friendly Tuesday 4th August Finnish Other Tuesday 4th August Irish Premier Division Tuesday 4th August Italian Serie B Tuesday 4th August Jordanian Premier League Tuesday 4th August Mexican Apertura Tuesday 4th August In Play.

Norwegian Division One Tuesday 4th August Saudi Tuesday 4th August Europa League Wednesday 5th August Australian A-League Wednesday 5th August Chinese Super League Wednesday 5th August Finnish Ykkonnen Wednesday 5th August Italian Serie B Wednesday 5th August Japanese Nabisco Cup Wednesday 5th August Jordanian Premier League Wednesday 5th August Norwegian Eliteserien Wednesday 5th August Swedish Allsvenskan Wednesday 5th August View More Football.

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