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Converting Odds: American Moneyline and European Decimal

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!

Betting on Soccer and Eliminating Draws with Asian Handicapping

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:

Home Team

Away Team

Home Team odds

Away Team odds

Asian Handicap

  1. Juventus

Parma

1.45

1.70

0:0.25

  1. Inter

Empoli

1.67

1.90

0:0.5

  1. Manchester United

Birmingham

1.79

1.98

0:0.75

  1. Barcelona

Villareal

2.05

1.74

0:1

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.

Betting in the US – Understanding Moneyline Odds

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?

Proof You Can Beat the Bookie 2

If you needed proof that you can beat the bookie, here it is.

London casino Aspinall’s lost GBP 4.5 million last year because several high rollers had won big.  The casino is now in financial trouble has been put up for sale by its owners.

This is good news for gamblers and punters everywhere, because it shows that casinos and bookies can be beaten!

Unfortunately, we don’t know whether these winners used any special techniques to win or whether it was down to sheer dumb luck.

Yet, Aspinall’s isn’t the only casino that was taken to the cleaners by the punters, other clubs in various cities in the UK lost a total of £12 million on top of a £19.4 million that they lost last year.

So, you can win.  Bookies and casinos can be beaten.  Let’s do what’s necessary to find out how.

Proof you can beat the bookie!

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!

Essential Gambling Concepts: Expected Value

A key concept when you want to win in the casino is the idea of ‘expected value’.

This is an idea that that casinos use to take money off you and that you can use to take money off the casino.  The expected value is the amount that you can expect to win (or lose) each time you bet a certain amount.

‘Expected value’ is therefore your win rate (or the casino’s win rate) for each game you play.

For example, if bet $1, and your expected value is $2 then you will make $1 every time you play.  On the other hand if your expected value is 50 cents, then you expect to lose 50 cents every time you play. This is not the sort of game that you would ever wish to play.

The trick is only to play games where you have an expected value that ensures you win!

Science and Anti-Science

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.

Don’t Use Feelings, Use Knowledge to Win at Casinos

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.

Wanting to be a winner

I want to be a winner. And if you are reading this site, then I guess you do too.

To be a winner, you need to the skills to win.  Let’s not kid ourselves, those skills are not always easy to get.  If they were, then everyone would have them and everyone would be winning. But we both know, that they’re not.

The simple fact is that they haven’t put in the effort and made the investments so that they can be winners.

Winning in a casino requires knowledge and discipline.

For me, knowledge and discipline meant breaking bad habits.  If you’ve ever had bad habits, eating badly, not exercising and so on, you will know what I mean.  Bad habits in the casino were a time and money drain.  They made my life miserable.

To win I needed to break those habits.  I had to learn self-discipline. I had to learn the to think it systems top make sure that I would always win.

Professional gamblers understand this so that they  really can make a money from gambling.  They work hard, but through diligence they succeed.

That’s the goal.

Bad Mathematics – the Martingale System

Everyone wants to beat the bookie and win at casinos.  It is my conviction that a proper mathematical system can help you win.

The problem is if you have an improper mathematical system. A mathematical system that isn’t proved and doesn’t work is less than useless.  It’s positively dangerous.

One such system is in my view the Martingale system.  This was used in 18th century France, a country which was, at that time, full of committed gamblers.

The Martingale system involves doubling your bet each time you lose, in the expecation that you could win your stake back.  If you mange to win your losses back, then you shoudl start over reducing your bet size.

The problem is that if you hit a losing streak then you can quickly go bankrupt, because the amounts you lose quickly increase.

I think everyone understands that if your losses exponentially increase you will quickly lose all your money!