{"id":2974,"date":"2021-12-24T09:39:24","date_gmt":"2021-12-24T09:39:24","guid":{"rendered":"https:\/\/www.newbettingsites.co\/?page_id=2974"},"modified":"2022-12-28T11:14:42","modified_gmt":"2022-12-28T11:14:42","slug":"true-odds-vs-implied-odds","status":"publish","type":"page","link":"https:\/\/www.newbettingsites.co\/articles\/true-odds-vs-implied-odds\/","title":{"rendered":"True Odds vs Implied Odds, What Is The Difference?"},"content":{"rendered":"

\"oddsBookmakers have margins cut into their odds<\/a>, which is how they are pretty much able to guarantee themselves a profit. These odds are often referred to as \u2018implied odds\u2019, as opposed to \u2018true odds\u2019 which are the odds without a bookie\u2019s take added into them. In other words, if you were to toss a fair coin then the true odds of it being either heads or tails would be Evens, 1\/1. If you were to ask a bookmaker to offer odds on the outcome of a fair coin\u2019s toss, the likelihood is that they\u2019d give you worse odds in order to add their margin, something like 10\/11.<\/p>\n

In betting, the trick is to find markets in which the bookmaker\u2019s odds are bigger than the true odds<\/a>, for that is where the value lies. This, of course, takes a huge amount of research<\/a>, to say nothing of the fact that most punters will never really know what the true odds of an event really are. You can get close, though, and it is upon doing so that you\u2019ll find yourself in a situation where you will be more likely to win a bet than if you hadn\u2019t done your research and had instead just gone with your instinct for a given wager.<\/p>\n

Implied Probability Explained<\/h2>\n

\"oddsWhether you\u2019re looking at betting on individual matches, In-Play betting markets or coming up with an accumulator of various different games, understanding implied probability is important to bettors. Implied probability involves converting odds into a percentage in order to try to figure out what the bookmaker\u2019s margin is. By doing so, you can then remove the margin and put yourself in a situation where you can figure out the true probability of a certain outcome, which in turn will allow you to discover of there is value in the bet.<\/p>\n

In sports betting, the fact that a bookmaker\u2019s edge is included in the odds that they offer means that the implied probability of said event will always add up to more than 100%, with the figure over the 100% mark being the bookie\u2019s margin. By being able to convert betting odds into their implied probabilities, we can assess how much value there is in a wager and even whether or not the bookmaker has got it wrong. Using an example of a match between Chelsea and Everton on the draw no bet market, let\u2019s imagine that the decimal odds were as follows:<\/p>\n