How to use maths to beat the bookies?

How to use mathematics to beat the bookies?
Written by, Jake Woodward Sat 09 Feb
How to use mathematics to beat the bookies?
How to use mathematics to beat the bookies?

How to use mathematics to beat the bookies?

Beating bookies in betting sounds awkward, but it is possible through properly calculated maths. The basics you need to understand first are the pricing the bookmakers make, the wisdom of the crowd principle, and does the bookie close winning accounts. The greatest principle of betting is not when you think you can win, but when the probability of you winning is higher than that of the odds placed by the bookmakers. The odds establish can give you a good idea of what is likely to happen in an individual event.

How to beat the bookies

Bookies calculate their odds to guarantee 5% of the odds placed. If you have the best available odds placed the margin may drop to 1.5% this percentage may go lower in bigger matches.
The rule of the thumb is to understand the relationship between odds and probabilities.

What are the chances of Chelsea winning a game where the bet has been placed at 5 pounds?

In this case, the bookies thinks odds placed at 5/7 the probability of Chelsea winning is less than 7/(5+7) which equals to 58.7%. The maths translates that the number likely to win divided by the total number of outcomes. Therefore, in probability, if you think the chance of Chelsea winning is 60% your bet on 5/7 is correct.

In a sporting event, there is always the winning and losing side. Betting judges will use their odds to determine who wins on certain bets. The results of the outcome are not known before the game, but bettors do provide a proper assessment of the probable outcome.

The bookies have an advantage in a popular sport where there is a large crowd placing bets. Their diverse opinion will enlighten them, and their odds will be accurate.

Each bet depends on the popularity of a game. In this instance Arsenal vs. West Brom at a bet of 2.15, the probability is 44% outcome.

However, the market price can be 2.33 with a return of 1.035 or +3.5% profit (2.33/2.25).

So if you think you’re up for the challenge, level up your math game from betting expert and start testing out your betting skills.

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  • Q: How are odds calculated in football by bookies?

    Odds in football betting are all about mathematics. The bookies create complex algorithms, automatically determining the odds to perfection, leaving you with very little space to beat them in the long run.

    Bookies place a 5% leeway for them in every odd placed, making sure that they come out on top in the long-term. However, by accurately searching through different bookies, you can lower this number down to 1.5%, drastically boosting your chances for success. Bookies take all factors into account when placing the odds, so you’ll rarely find them slipping, especially nowadays, with information traveling as fast as ever.

  • Q: How to win big on football bets?

    Almost everybody knows the basics of football betting since it’s also the most popular sport on the planet. That’s why it can be difficult to win big on football bets, especially if you’re a novice. With practice, you’re on your way to winning big on football bets soon. However, you can game the system by carefully using maths in your favor when placing your bets.

    For example, if you’re betting on a favorite with bookies odds to win at 5/7 which translates to 58.7% chances of winning, then your calculation has to have the favorite at 60% chances to win to make up for the odds difference between the bookies and realistic chances to win.

  • Q: How to bet on soccer and always win?

    Betting on soccer is perhaps the most challenging betting discipline in the world. This is because everyone is in on it, thinking they’ve got the winning formula. The winning formula, however, lies a lot in soccer statistics and its formulaic mathematical patterns.

    To win consistently on soccer betting, the key is to be faster than the bookies themselves. You need to recognize the right information on time, such as a major player picking up an injury in the middle of the match, and betting against his team before the bookies notice it, too. Not to mention, analyzing past performances and also keeping track of winning team records and game patterns.

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