October 7, 2022

Odds in sports betting

The betting coefficient is one of the most popular terms in the world of sports betting. These are special data of calculations by the bookmaker, with the help of which all bets are evaluated. It is important to understand that the profit of betting companies depends on the formation of the correct coefficients, which will be favorable for any outcome of the match. How the coefficient is calculated and what types there are, what it depends on, we will describe all this in our article.

What is odds in sports betting

If the game is predictable, the odds on the favorite will be low and the winnings will be small. The lower the probability of an event, the higher the proposed coefficient will be, but the risk is very high. In most countries, the European coefficient is used. His record is common and clear to everyone: it is presented in the form of a decimal fraction, usually with two characters after the dot. For example, 1.50, 2.00, 2.43 or 4.58.

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By the coefficient, you can determine the possible payment and a gain in case of a successful bet by multiplying the bet amount by the coefficient in the bookmaker.

Main types of coefficients

Nowadays, there are three main types of odds, including the European one, which we mentioned earlier. Let’s consider them in more detail.

  1. European
1.47
  1. English
9/5
  1. American
+130 / -110


  • European (decimal) coefficient

At the moment, the European coefficient is obligatory presented in all bookmakers of the world, and in many of them it is the only one. The European coefficient is written in decimal form β€” these are the traditional values for us 2.0; 4.3.

The decimal coefficient multiplied by the bet amount allows you to find out the amount of the potential payout.

For example

  • The bet amount is 200$
  • Odd is 1.67
  • The winning 200$ x 1.67 = 334$ (134$ – your gain, 200$ is the bet amount)
  • English (fractional) coefficient

 

The fractional coefficient is the proportion of the amount of potential net profit (1 number) to the amount you need to bet in order to get such a profit (2nd number). For example, a fractional coefficient of 9/5 tells the player that for every $5 bet he will receive $9 net profit if the bet wins.

  • the bet amount is 200$
  • Odd is 9/5 (for every 5$ bet you will receive 9$ gain)
  • The winning 200$ x 9/5 = 360$ (160$ – your gain, 200$ is the bet amount)
  • American coefficient

American coefficients are of two types: positive and negative (for example, +120 and -140).

The value of the positive American odd is the sum of the potential net profit at a rate of 100 standard units.Β 

For example:

  • the bet amount is 100$
  • Odd is +130 (for every 100$ amount bet your gain is 130$)

The value of the negative American odds is the amount you need to bet to win 100 standard units.Β 

For example:

  • the bet amount is 100$
  • Odd is -110 (to get 100 $ of gain your bet amount has to be 110$)

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Bookmakers calculate coefficients for various bets as follows: specialists and analysts calculate the probability for all events in the betting world, then transform the resulting value into a coefficient, and then add margin / commission to each of the coefficients so that the betting company also makes a profit.

Reasons for changing the coefficients

After calculating the odds and margin, the betting company does not stop changing the values. First of all, the change in coefficients depends on the number of player’s’ bets. If a large flow of funds is concentrated on one outcome, the coefficient for this bet decreases quickly, and increases for the opposite.

Also, one of the main reasons for the change in odds is the appearance of new information. Before the match, it can be data on player damage, bad weather, and in live, the coefficients change literally with every event taking place on the field: attack, violation, corner and much more.These factors affect both the outcome and the number of goals and other indicators of the game

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