Also known as a bookie, a book maker is a person or even an institution that would take and place bets according to previously agreed upon odds. These steps and guide to calculating margins on soccer betting odds bets are mostly in sporting activities. However, it is possible to find bookmakers at other events. When a bookmaker breaks up the number of probable end results by introducing a margin, this is called margin betting. For the bettor to win, they are required to not only select the correct bet but also the correct margin.
Steps And Guide To Calculate Margins On Soccer Betting Odds
Odds are ratios that give both the probability of an event happen and also the probability that it will not happen. For instance, the odds for flipping a non biased coin are 1/1 this is also called even money. What this simply means is that by tossing the honest coin, it has 1 of 2 probability of it landing on a head or tail. For a dice, one would give the odds 5/1 to show that the probability of getting the number we want is 1 in 6.
To calculate probabilities from a given odd you simply divide the given denominator by the sum of the denominator and the numerator after which you multiply by 100 to get the percentage. For a 5/4 odd we get 4/9*100 giving 44.44%.
For a soccer event using the likely three results that a match may result in a home w
in, an away win or a draw, the odds can be priced differently. One would expect the sum total of the percentage to be 100% but it normally exceeds. This spill is what the bookmaker takes home and is called the overground.
Why margin betting
By placing margins on a soccer game, sports book sites give punters better odds that and also brings about modifications on the game. The resulting odds are 4 compared to the previous 3 for a soccer match without a set margin.
By placing and betting on a margin of two goals, the winning team must be leading with two goals. This kind of betting does not rely on which team wins but on the total win margin itself.
By using statistics and smart betting skills, margin betting becomes easy. A punter can look at the history of the teams involved. Having accurate statistics of the former matches played by the two teams; their attacks,defense, and their present form, then combining them will give you a head start an idea on what margin to use in your betting.
However, this does not guarantee one an accurate margin as it is the norm for matches to vary depending on different factors that would be affecting the team. This aside, using statistics from a longer period of time would at least safe guard the betting margin you decide on.
Other than the previous overall statistics of a game, you can choose to be more specific. By using the most common goal margins throughout a period of time and later assessing the results you get. Taking notes and keeping track of what match was won and lost would result in more accurate prediction. This and also given reasons for why the match ended as it did are necessary information for any punter that chooses to use this method.
The 2 goal margin is used to explain the margin concept in the simplest way possible. However, after knowing and understanding the entire margin betting concept, a margin can be calculated using the formula below.
M = (1/odds 1 + 1/odds X + 1/odds 2) – 1
Here odds 1 is the home win, odds 2 the away win and odds X a draw. The result is a margin expressed as a percentage.