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Are You Getting Betting Value ? - Quickly Work Out Bookmakers Betting Percentages and Betting Value For Football,Horse Racing,or Any Other Betting Option.
This article will explain what betting value is and how to spot when you are being offered poor odds by the bookmakers.
Betting odds offered by bookmakers is a mathematical equation - percentages.
Bookmakers want as high a guaranteed percentage profit as they can get - and the higher the figure above 100% (break even) the higher their profit.
Some bookmakers operate a profit margin as low as 2% ( i.e.102%) for some sports whilst other bookmakers build in a much higher profit margin.
But how can you tell which bookmakers offer a good deal,and which bookmakers are taking advantage of your lack of understanding of betting ? - this article will let you quickly calculate the percentages for any event without having to keep consulting the tables provided by other betting sites.
It is worth persevering to understand value in betting,and an old gambler told me this decades ago,but I have always remembered it ...............
Anybody can back winners,but unless you get value you are wasting your time.
Now,an explanation of how to spot value in betting odds.
Betting Percentages and Betting Value Explained.
All regular punters should know basic facts like the odds to one £ for every price - if you know the odds to £1 then you know the odds to £10,or £100 (just move decimal point ),and £5 or £2.50 with just a simple mental calculation.
If you don't know odds to £1 (or any currency) already,I suggest you get that done - it would only take a matter of a few hours to drum those returns in - lots of previous articles cover that aspect.
Lets start with simple example (taken from leading bookmakers site when writing article) - a football match - 3 betting options.
To find the winning percentage for each option,all you need to do is divide the odds to £1 into 100.
So 6/4 (100 divided by 2.5) = 40%
15/8 is 100 divided by 2.875 = 35%
9/5 is 100 divided by 2.8 = 36%
Just add those percentages up and you get 111% betting margin - not great value (average is about 106%).
Another example - this time better value.
13/8 (100 divided by 2.625) = 38%
9/4 is 100 divided by 3.25 = 31%
9/5 is 100 divided by 2.8 = 36%
This time the punter gets better value for their bet at 105%.
It's Just The Same Procedure for Decimal Odds.
It is actually easier to work out value when taking decimal odds - no need to know the odds to a £1 stake - that is already done for you - just divide those decimal odds into 100 and that is the percentage take out for that horse or team.
Let's do something harder - a horse race (again odds taken from leading bookmakers website when writing article)
Betting percentages for 7 runner horse race.
Looks a complicated procedure to work out percentage value - but just work out each price one at a time - put in memory on mobile phone calculator or tablet for each runner,and then collect full percentage for race - it will only take about 30 seconds when you do it regularly.
3 Arctic Gold 5/2 - 29%
1 L'aigle Royal 11/4 - 27%
6 Monetary Fund 7/2 - 22%
4 Crazy Jack 11/2 - 15%
2 Billfromthebar 10/1 - 9%
5 Church Field 12/1 - 8%
7 Floral Spinner 16/1 - 6%
Total percentages - 116 %.
Remember - the lower the percentage figure for any sporting event - the better value you are being offered.
That's all there is to betting percentages - divide 100 by the odds to one unit (any currency) - add up the total for each participant - and that is how you find the percentage the bookmaker is offering you - simple!.
By Pendil at SAFE BOOKMAKERS SITES.©This article can be reproduced by anyone,so long as article is reproduced full and intact with all links unchanged.End of article.
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