Now if we add up the 3 probabilities (52% + 32% + 24%) we get the value 108% which shows us that the profit margin of this bookmaker is 8%.
From what we noticed most known 카지노 사이트 bookmakers have a profit margin of 8%, there are some Asian bookmakers that work with lower profit margins but unfortunately are not licensed in the country so we cannot benefit from those higher odds.
And now let’s translate those probabilities into odds that you meet at bookmakers
- 52% = 1.92
- 32% = 3.12
- 24% = 4.16
If the world would bet on these odds equally and the bets would be evenly distributed then regardless of the result of that match the bookmaker has a guaranteed profit of 8%.
In reality this does not happen and as you probably know most bettors place their bets according to their preferences or favorites, for example many people bet on the victory of FC Barcelona because they think it will definitely win, often so it is but from time to time it also loses or equals so that many bettors end up losing large sums of money.
Often odds for favorite teams ( FC Barcelona , Real Madrid , Bayern Munichetc.) are much lowered by bookmakers to force bettors to bet on other results not only on the victory of the favorite team.
You have to keep in mind that these betting agencies aim to make a profit regardless of the result of the game, for this reason the odds evolve in order to maintain the value of that profit margin.
The profit margin of the bookmakers or how much the bookmakers earn?
We discussed above this profit margin and what it represents and the thing you have to keep in mind is that each odds displayed by a bookmaker contains that profit margin and a odds of 2.00 displayed by a bookmaker does not in reality it represents the probability of 50%.
The profit margin of bookmakers differs depending on the type of bet, with some types of bets being higher at others lower. For example, many bookmakers display odds of 1.83 for the Total Number of Goals (Under / Over 2.5 Goals) when in theory they might be 2.00.
How do probabilities turn into odds?
In the country the Spanish championship is very bet so we will use as an example the football match FC Barcelona – Real Madrid, here are the odds displayed by the bookmakers for this match:
- 2.10 – FC Barcelona wins
- 3.20 – Draw
- 3.80 – Real Madrid wins
Now let’s convert the three odds into probabilities
- FC Barcelona probability : 100 / 2.10 = 47.6%
- Equality probability : 100 / 3.20 = 31.2%
- Real Madrid probability : 100 / 3.80 = 26.3%
