How do I calculate the odds in betting?

Betting attracts many gamblers today and often people become really interested in the topic. And at a certain point the question arises, what does overweight mean? Many people think that it is simply the income that one earns from betting over a certain period of time. But experts say that it is not just a profit, it is also a loss that comes with betting, so it is worth sorting things out in more detail.

The best way to deal with this is with an example. For example, one bettor has won 80% of his bets, while the other has only won 45%. And initially it seems that the first player is more successful in his betting. But there’s an important factor to consider that can make all the difference. If you add to this statistic that the first player is winning his bets, where the odds are not higher than 1.2 and the second bettor is winning where the odds are at least 2.3, the following point arises:

1. First player: 80%*1.2 = 0.96-1 = -4%.
2. Second player: 45%*2.3=1.035-1=+3.5%.

So from each hundredweight in the first case goes -4 dollars, while in the second situation +3.5. And here it already seems to be completely different.

And it is also possible to calculate your outperformance based on taking your own bets into account. This requires adding up all numbers with a + sign and with a – sign. And the odds are added, after that everything is divided by the number of all bets and the result is the average betting odds for a certain bettor. In fact, the formula is very simple and straightforward: X*K=%.

In this situation:

K – average odds.

X is the winning percentage.

With its use, you can easily calculate the real advantage in the game, gathering all the data beforehand and taking them into account, you can calculate the disadvantage of your game. Of course, in this case you will need the most accurate betting statistics, both winning and losing. It is better to keep statistics in Excel, where the process is automated in a few clicks.