The bookie tries to estimate the probability with which a certain event will occur, or not.īased on this probability calculation, the bookmaker sets the odds. In sports betting, bookmakers are always making mathematical calculations based on probabilities when creating betting odds. In Europe (excluding the UK), odds are almost always expressed in decimal form, which greatly simplifies the calculation of winnings compared to other odds formats.

Conclusion: Mastering Betting Odds and Probabilities for Sports Betting Successīetting odds indicate how much you can win if the event you bet on occurs.

How are the odds created in sports bettin g.

➜ get the best betting odds at 22Bet Table of Contents: How to Calculate Odds

However, this applies primarily to the top events such as World Cups, European Championships, Champions League finals, etc.īut even for everyday games, e.g., from the German Bundesliga, the betting provider 22Bet achieves peak betting odds of approximately 96.5% in our test. The payout ratio for the most popular soccer bets can be as high as 98.4%, which means that in the long run the bookmaker’s profit margin on these bets is only 1.6%.

What does plus 350 mean in betting