![]() The most common American odds you’ll see is -110 and is often seen as the juice/vig on points spreads and Over/Under Totals. An easy way to think about American odds calculation is to think of them as currency exchanges in $100 increments. American odds explainedĪmerican odds are presented in hundreds and thousands and are defined by the positive (+) or negative (-) value assigned. Use our betting odds and moneyline calculator tool above to convert these odds and learn more about them below. While they all mean the same thing, understanding how they work with your wager can be tricky. Use the OLBG Betting Tips pages to find the best odds on an event, you will then see the difference it makes in taking the best bookmaker prices.The way sports betting odds are presented can differ between American, Fractional, and Decimal. This means you can back all three outcomes in a football match (HDA) or all runners in a horse race and be guaranteed a profit before the match has kicked off or race has been run. If over a year you make sure that these small percentage differences are in your favour you can have an extra 1% or 2% each time you bet, losses can be reduced and profits increased.īy taking the best prices from different bookmakers and exchanges you can create a betting book that is LESS than 100%. However only using Bet Victor for all three prices and the percentage overround as you can see is bigger. ![]() So with the 3 football prices below the best odds from different bookies give an overround of 101.5% or 103.14%. ![]() (Example Betting Odds of 11/4: Divide the first figure (11) by the second figure (4) =2.75. To convert fractional odds into decimal odds: (Example Betting Odds of 3.75: Take away 1.00. The 10% and 7% above 100% are the bookmakers overround, - their margin. The Racing Post each day publishes the betting percentages of each race and you can see the variation of betting odds/percentages between bookmakers.įor example, Paddy Power may have the biggest percentage book at 110%, and Bet Victor may have the smallest percentage book at 107%. They will adjust these odds as money comes in for each horse, enabling them to always keep the percentage above 100%. Whichever horse wins the bookmakers will make a profit because of the percentage being above 100%. If you add up the 5 percentage figures you get to a percentage of 108.33%. Here is a fictional example of a 5 runner horse race. The Executioner in his excellent Bookmaker Betting Percentages blog explained how each price is equal to a percentage. The OLBG article on understanding bookmakers will give you further and valuable insight into how they think and work. When you understand betting odds and percentages your gambling has a better chance of being profitable.īy thinking of the Modus Operandi (MO) of the bookmakers, and putting yourself in their shoes then you can start to see what they are up to with individual prices.
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