(1\/decimal odds) x 100 + (1 decimal odds) x 100 = bookmaker\u2019s margin<\/strong><\/p>\nIn the example above, that becomes:<\/p>\n
(1\/2.48) x 100 + (1\/1.54) x 100 = 40.3 + 64.9 = 105.2<\/p>\n
Meaning bookmaker\u2019s margin is 5.2%<\/p>\n
The margin comes about because every head-to-head bet has a technical likelihood of 100%, given there can only be two possible outcomes. Anything over 100 when you do the sums is therefore the bookies\u2019 margin as it\u2019s the amount that has been added in to ensure that they make a profit regardless of the outcome. That\u2019s what you need to think about when you do your sums.<\/p>\n
Let\u2019s imagine that you look at the same basketball match with a different bookmaker and they\u2019ve got odds of 2.50 for team one and 1.50 for team two. Your formula then becomes the following:<\/p>\n
(1\/2.50) x 100 + (1\/1.50) x 100 = 40 + 66.6 = 106.6<\/p>\n
Meaning bookmaker\u2019s margin is 6.6%<\/p>\n
When you take bookmaker A\u2019s margin away from bookmaker B\u2019s margin, you see a difference of 1.14%. That means that you\u2019re getting slightly better value for your wager if your go with the first bookmaker that you looked at rather than the second, given that they\u2019re taking 1.4% less. It might not sound like much, but spread over the long-term and it can work out to be a good amount of money.<\/p>\n
What About 1X2 Markets?<\/h2>\n The football lovers amongst you will be wondering what you can do to figure out the margin in the world of Match Betting. Also referred to as the 1X2 market, where 1 represents the home side, X the draw and 2 the away team, it is one of the most popular bets that gets placed on football matches. Because there\u2019s a third option in there, the formula that you need to use to figure out the margin changes to the following:<\/p>\n
(1\/home odds) x 100 + (1\/draw odds) x 100 + (1\/away odds) x 100 = bookmaker\u2019s margin<\/p>\n
Let\u2019s imagine that we\u2019re looking at a match between Liverpool and Everton, with the former side given odds of 1.75 and the latter odds of 3.95, whilst the draw is seen as being a 3.70 likelihood. To work out the betting margin of our bookie of choice we insert those numbers into our formula, so it now looks like this:<\/p>\n
(1\/1.75). 100 + (1\/3.70) x 100 + (1\/3.95) = 57.1 + 27 + 25.3 = 109.4<\/p>\n
Meaning bookmaker\u2019s margin is 9.4%<\/p>\n
Again, the numbers will add up to 100 because we know that there will definitely be a result in the match, so anything above 100 is the bookmaker\u2019s margin. The key thing to figure out is what value you\u2019re getting from your bookmaker, so you go and look at the odds of a rival and discover that they\u2019re offering odds of 1.70 on Liverpool, 4.0 on the draw and 4.0 on an Everton win. That formula now becomes this:<\/p>\n
(1\/1.70) x 100 + (1\/4.0) x 100 + (1\/4.0) x 100 = 58.8 + 25 + 25 = 108.8<\/p>\n
Meaning bookmaker\u2019s margin is 8.8%<\/p>\n
This time the second bookmaker is offering better value to the tune of 1.6%. Though time-consuming, you might want to check out a wide range of bookies to find out which one is offering the best value on football betting, given that there can be a huge discrepancy between them on such a popular market. You can\u2019t assume things will always be the same either, given margins are forever changing.<\/p>\n
More Complex Wagers<\/h2>\n As mentioned, we\u2019re only looking at the more simplistic bets here. It is still worth acknowledging that much more complicated bets exist, especially in the world of football. Take a First, Last, Anytime Goalscorer market as an example of this. There are so many variables that need to be taken into account, not least of which is how many players could potentially score a goal.<\/p>\n
It goes without saying that such a bet becomes exponentially more complex when you start to try to figure out the margins involved. In this sort of instance, the key thing to do is look to see which bookmaker is offering the bets odds, because the likelihood is that they\u2019ll have the smallest margin and will also give you the biggest payout. That is, after all, what we\u2019re all in it for.<\/p>\n","protected":false},"excerpt":{"rendered":"
There\u2019s a reason why a lot of people think that the \u2018bookie always wins\u2019. In short, it\u2019s because every bet that you place has a margin built into it, meaning that even if you win your bet the bookmaker you\u2019ve placed it with doesn\u2019t lose as much as you might think. Every single bookie that…<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":468,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"acf":[],"yoast_head":"\n
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