Open Multiple Accounts Thanks to the welcome bonuses offered by sports betting sites, you can build up a starting capital of several hundred dollars without spending a fortune. Knowing that not all bookmakers offer the same types of bets, odds and promotions, opening several accounts will also give you guaranteed access to all the best opportunities. Avoid Cutting yourself off from the...
Odds and Probability in Sports Bets
A very simple calculation allows you to establish the relationship between the rating and the probability. Let’s use the example below. The proposed odds for the Carolina Hurricanes to win are -140 (1.71). The proposed win for the Toronto Maple Leafs is +110 (or 2.10).
- Rating = 1 / Probability and Probability = 1 / Rating
- There is a 58% chance that Carolina’s team will win this match.
- There is a 47% chance that the Toronto team will win this game.
Calculating Winnings in Sports Bets
If the prognosis is correct, your winnings depend on the two elements of odds and your bet. Let’s continue with the example above and a bet of $100.
- Winnings = Bet x Odds
- I bet $100 on Carolina and the team won. My winnings are 100 x 1.71 = $171.
- I bet $100 on Toronto and the team won. My winnings are 100 x 2.10 = $210.
Calculating Profits in Sports Bets
Be careful not to confuse earnings with profits. To find out your net profit after a winning bet, you will have to deduct the amount of your bet from the winnings.
- Profits = Winnings – Stakes
- I bet $100 on Carolina and won $171. My profit on this bet is $171 – 100 = $71.
- I bet $100 on Toronto and won $210. My profit on this bet is $210 – 100 = $110.
Where to Find the Best Odds?
Have you understood the mechanism of the odds? Now it’s up to you to play, taking advantage of our sports betting section to find the best offers offered by the top bookmakers on major North American sports events (NHL, CFL, NBA, MLS, MLB,…), as well as international events. Odds comparison, list of upcoming games, bettor statistics…You will have all the keys to capture the best bets. [-]
To find the best odds you must first look at the odds set by the bookmaker. If, after careful analysis, you feel that the bookmaker has left too high an odds on an event, then you should bet. For example, if the team or athlete is estimated to have a 70% chance of winning, the odds should be 1,43. If the odds proposed by the bookmaker are higher then the bet is profitable. Finally, to make the bet even more profitable you should compare the odds on all the sites you are registered on in order to make the best profit.
On each bet you can take risks to win even more money. During a match, if you are sure that the team will win, then look at the score of the match or at the scorer(s). The odds will then be higher. In case of a big surprise your bet will be lost but if your analysis is good, your win will be better.