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The odds of a match

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Post 003

In the world of betting, odds represent the tool with which i Bookmakers evaluate the probability of victory or draw of a football team involved in a specific championship match or football tournament. With the odds they above all say how much they are willing to pay to the various bettors if the event chosen by them occurs. Let's look at an example right away to clarify our ideas:

Dock Sud

2 - 0

Sportivo Italiano

1	X	2
1.73	3.5	4

The one taken as an example is a match from the Argentine metropolitan Primera B championship. In this case the team's victory home is quoted at 1.73, this means that if for example we bet 100 Euros on his victory we will get 173 Euros back, with a net profit of 73 Euros. The draw between the two teams is 3.5 while the away team's win is rated at 4.

But what does this mean in terms of probability? How can we obtain a percentage that tells us how much the Bookmakers see as a favourite one team rather than another? Well, the mathematical calculation required is very simple, just divide one by the share proposal and then multiply everything by one hundred: (1/1.73) X 100 = 57.8%
As you can see, an odds of around 1.7 does not guarantee that that team will win, in fact in terms of percentage we are still close at 50%. Clear isn't it?

What about the double chance?

Here too you don't need a degree in mathematics, in our example today to calculate the odds of 1X we must divide one by the sum of the inverse of the odds of one plus the inverse of the odds of X.
1/((1/A)+(1/B)). Let's apply the formula: 1/((1/1.73)+(1/3.5)) = 1.16 this is the odds for the 1X double chance, equal to 86.4% of probability that a result favorable to this prediction will occur.

If you want to find out how Bookmakers calculate the odds for the various football matches of a championship then don't miss the next DoubleChanceBetting.com post!

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