Category Archives: Uncategorized

You’re sports betting to win, so you need to know when you’re getting the best of it.

Percentage odds is one way of letting us know when we have an edge.

Percentage odds allow us to compare what the odds being offered are and the real chance of winning.

Percentage odds represent the number by which a team is favored to win shown as a percentage. The closer that number is to 100% the greater the chance that team has of winning the game. The closer to 0% that number is, the more risk involved with the bet and the more money you make if you win.

In order to figure out how much money we will make off a bet on a certain percentage, the first thing we do is turn the percentage into a decimal and divide the bet by that number. You also get your original bet back so add that into the mix as well.

Here are some real life scenarios. The New England Patriots have odds of 63% to win in week 3 of the NFL season against the Buffalo Bills. If you went on a long shot and bet $20 on Buffalo, you will be betting on a 37% probability that the Bills will win. So, let’s do the math. The formula would be $20/ .37=$54.05, which is a total of $74.05 for the win $54.05 for the 37% percentage bet plus your $20 bet.

Let’s take a soccer game as another example and let‘s pick a winning bet on a tie. In the 2012 World Cup Qualifier, Azerbaijan and Austria have a 33% chance of tying. A notional bet of $20 would be represented by a formula of $20/.33= $60.61, then add in the original $20 for a total of $80.61.

Very few bookies display the odds they offer as percentage odds. By convention, odds are displayed differently for different sports. In Britain, soccer odds are usually represented as a ratio or fraction. In the US, football odds are normally represented as money-line odds. Some bookmakers represent odds as decimals.

To be able to compare odds and and your own handicapping, it can be useful to change these odds into percentage odds.

Fractional odds make it easy to calculate how much a winning player will win but the decimal odds system makes it easier for the player to calculate how much the bookie will pay if the player is successful.

Converting Fractional British odds to European decimal odds

This is very simple. You first use division to convert the fraction and then you add the number one (1).

So, if the fractional odds are 20-1 (pronounced 20-to-1), we divide 20 by one and add one (20/1 + 1 ), which gives decimal odds of 21.0. If the fractional odds are 1-20 (pronounced “1-to-20 on”), we divide one by twenty and add one, so 1/20 + 1, giving decimal odds of1.05. When the odds are 1-to-1 also known as “evens” or “even”,  the decimal odds are 1/1 + 1 or 2.0.

An example is when we bet on a horse in UK races. If the horse is favorite and pays out 4/7 then we divide 4/7 = 0.57 and we add 1. We get European decimal odds of 1.57.

Now if we bet on an underdog being offered at 15/1 we divide 15/1=15 and we add 1 and we get European odds of 16.0. In other words the bookie will payout 16 times your stake for a profit of 15 times your stake.

Converting Decimal odds to Fractional British odds

To convert decimal odds to fractional odds we reverse the process.

Say for example, we want to bet on a horse that is being offered at 3.0, that is if we bet $100, we would receive a payout of $300 from the bookie, should the horse win. To convert this to fractional odds subtract one and put the resulting number on the left hand side of the formula.  So, 3.0-1 = 2, giving us odds of 2:1, or two to one.

Obviously, it can get a bit more complicated if the fractions are more complicated.  So, if the decimal odds are 2.75, subtracting one gives us 1.75.  However odds of 1.75:1 are not nice to read or look at. Instead we can multiply both sides by 4 giving odds of 7:4 (seven-to-four), that is, if I bet $4 dollars and win, I get a profit of $7, taking home a total of $11.

The process is similar if the decimal odds are less than 2.0.  Say, a win on a horse is being offered at 1.5. If we subtract one, we get 0.5.  However, odds of 0.5:1 are not very easy to understand (if I bet $1 I get 50 cent profit).  Here, we would multiply both sides by two, giving odds of 1:2 or one-to-two on. That is if I bet $2, I would profit by $1 and take home $3.

The conversion is very simple and you don’t need to use a calculator most of the times. It is also very easy and fast.

When you bet internationally, sometimes, you’ll want to convert some types of odds to others. Perhaps, so that you can compare odds from different bookies or so that you can simply have the odds in a format you are more comfortable with.

Moneyline to Decimal Odds

To convert American moneylines to European decimal style odds there are two formulae depending whether the number has a positive+ sign or a negative – in front of it.

If the money line odds are positive, then divide the figure by 100 and add 1.

For example to convert a moneyline of +300:

1. 300 / 100 = 3

2. Add 1 and then you will find the number 4. This is the decimal odds.

In other words, if you bet $10, your final payout will be $40 (with a profit of $30).

If, on the other hand, the moneyline is negative, for example, -200, then we remove the negative sign, divide 100 by it and add one.

For example, if the moneyline is -200, we first remove the – sign. We take 100 and we divide it by the moneyline odds, in this case 200 and we add 1. I.e. 100/200+1=1.5. In which case, if we bet $10, we would receive a payout of $15, for a total profit of $5.

Decimal to Moneyline

Where we want to convert decimal odds to moneyline odds then we reverse the process.

For example, if a bookie is showing odds of 4.0, we take this figure subtract 1 and multiply by 100. So, (4.0 – 1) x 100 = 300.  The moneyline is therefore +300, that is if we bet $100, we will receive $300 profit (or a total payout of $400).

If the decimal odds are less than two, say 1.4, then we subtract 1, divide 100 by the resulting number and add a negative sign.  So, 100/ (1.4 – 1.0)  x -1 will give us a moneyline of -250.  In other words we need to bet and risk $250 for a possible profit of $100 (and a $350 payout from the bookie)

What could be simpler!

Soccer is famous for its low scores and common draws.  This can cause problems for both bookies and punters because there is no clear outcome. Asian handicapping was invented to deal with this.

It’s called the “Asian” Handicap because it was first designed in the East. It is now becoming  one of the favorite types of betting in Europe.

In every soccer game there are three outcomes. The first team wins, there is a draw or the second team wins.  One effect of Asian handicapping is to eliminate the draw.

This gives you the chance to bet that one team wins. The bookmaker gives the handicap in a specific team, so this way it balances the bet so an equal number of punters will bet for each side.

Asian Handicap is given as 0.25, 0.5, 075, and 1 and so on. Let’s see our following examples.

Example:

In the above examples we see in the Asian handicap column two numbers. The first indicates the advantage of the home team and the second number the advantage of the away team.

1. In the first match Parma has an advantage of 0.25. Meaning if we bet on Juventus and they win 1-0 and over we win the bet, if they lose or have a draw then we lose. If we bet on Parma and the game comes in a draw or Parma wins then we win.
2. Empoli has an advantage of a half goal. Any draw or win of Empoli favors them so if we bet on them and one of these two possible outcomes end we will win the bet. If we bet on Empoli and Inter wins, we lose the bet.
3. This is the same case as the above example games with Birmingham having 0.75 advantages.
4. This is a bit different. Villareal has 1 goal advantage before kickoff. Meaning if the game is draw or VIllareal wins then the winner is the punter who bet on the away team. If Barcelona wins by one goal difference like 1-0 or 2-1 etc. then we have a draw. If we bet on Barcelona and they win by two goals we win the bet. Example is the score 2-0. With the advantage of the one goal given to Villareal the match ends 2-1. The winner is Barcelona.

Asian Handicapping is very common online and it’s spreading all over the world. It provides different odds and a way of dealing with the low scores and common draws in soccer.

If you are going to be doing in gaming in the US, then you are going to come across moneyline odds.

Moneyline odds are used when you are betting on the outcome of a sporting contest, for example, who wins and who loses.

Depending on whether you are betting on a favorite or on an underdog, moneyline odds show two things. Either how much you win on a $100 bet or how much you need to bet to win $100. This is determined by whether the odds are negative or positive.

In this way, there is a plus  (+) sign or a minus  (–)  sign in front of the odds to show whether you are betting on the favorite or the underdog. A plus (+) sign means you are betting on an underdog and the number shows how much you would win on a $100 bet. A minus (–)  sign means you are betting on a favorite and the number shows how much you need to bet to win $100.

To understand better let’s say that we see odds of +110. This means that if we bet $100, our total payout would be $210. Meaning we have $110 clear profit. If the odds are -150 then to win $100 clear profit we would have to risk a stake of $150.

One example is a baseball game between the New York Yankees and the Chicago Cubs. The Yankees are expected to win and are the favorites.  Because the Yankees are favourites the bookie sets negative odds of -400. This means you must bet $400 to win $100. Because this side is expected to win the bookmakers make you risk a large amount to balance the bet.

On the other hand, we might have the Chicago cubs as the underdogs. Since most of people would bet on the favorite, the underdog’s payout price in case of winning is increased to make the bet more intriguing. In this case the Cubs might set postive odds of 400. Hence, if you bet $100 then your payout will be $500, with a clear profit of $400.

So that’s moneyline odds. What could be simpler?

People who don’t think that they can beat the bookie should think again.

A bookie called Leisure and Gaming, that runs, amongst other things, BetShopItalia.com has just had to stop its shares trading on the stock exchange. The reason?  Punters have won too much money

In fact, punters have won so much money this bookie needs to find some more so that it can continue to be in business.

This proves that you can win money from a bookie, and that you can win so much money that you can make the bookie go bust!

There may be a few reasons that this bookie is in trouble , but one is certain. This bookie set its odds wrongly.  So,  if you can find a bookie with mis-priced odds, you can make money too!

Casinos use science to make their money and to make sure that you, the gambler, go home with nothing in your pockets. Casinos are masters of mathematics and masters of psychology.

Casino games are designed mathematically and psychologically to keep you playing long enough that you lose all your money.

One trick that casinos use is to serve you alcoholic drinks while you are playing.  Sometimes the drinks are free.  They know that alcohol will cause you to bet the wrong amounts on the wrong outcomes.  They know that alcohol will make you lose money.  While you’re playing the croupiers and casino managers aren’t drinking; they are making sure that their system works.

You can use psychology against the casino. For example, refusing to drink alcohol while you’re playing will ensure that you’ve already beaten the casino at one their tricks.  Also, don’t play when you’re tired.  Get to know when you’re mind is not working at its best, when you need a rest, when you need sleep, and stop.  Doing this you’ll be several steps ahead of your fellow players and on your way to beating the casino.

You can use science against the casino, turning their own tricks against them.  Casinos make money by using the laws of probability. Casinos make the games, that means they get to set how probability is used.  But there can be ways around it.  By betting the right amount at the right time in the right game, you can turn the tables on the casino, take the advantage and make money.

Many people starting off with intelligent profit-making gambling can get led astray.  I was one of these.  I was seduced by my feelings thinking that I could sense changes in the cards, changes in the way that things would fall.

Feelings however are no match for the rigorous mathematics that bookies employ to take your money.  Whereas your feelings can change depending on what else happened to you that day.  Perhaps some people are so highly attuned to their feelings, that they can use them to gamble successfully.  I’m not one of those people.

My feelings are no match for the precise rules of mathmatics.  I learned this the hardway losing tens of thousands of dollars in a few weeks.

After that period I had to do some long hard thinking. I started doing research into the techniques casinos use to fool your feelings. But above all I started to delve into the science of gambling.

Gambling really is scientific.  Bookies know this and they use it to make their money and ensure they lose.  Casinos use science to ensure that you lose and they win.

My putting my feelings behind me and concentrating on science, I could turn the tables on casinos and start being a winner.