We are all generally just passive competition consumers if you will. We turn up our PC early in the morning to watch a current game in the Latin American League and bet that the leader from Caracas will take first place or maybe lose the win and have to tremble for another round. But we don’t know how these odds can arise or how they are calculated. But we can imagine that a betting provider, as a profit-oriented company, is interested in presenting itself there as well and must show a profit in its balance sheet. After all, this is also his goal and that is where the journey should take him. However, it is never possible to say with absolute certainty why this is possible, that a company can calculate the profit or even the outcome of a game in such a way that the betting odds can be adjusted to achieve a profit. It is thus also to be assessed as a possibility throughout and to be seen as a decisive goal, because as a continuous provider in this area an incalculable risk factor remains. This also sounds logical, because nobody can know whether a team will score a goal or not. This is simply based on deeply human judgements that cannot be easily excluded. Maybe the team is in a bad physical condition because of the key player and also the psyche of some players is damaged. Especially in team sports such as football, this can become a problem, because even one player can be a problem that poses an incalculable risk. It remains to be seen, however, what causes such a situation to arise.
But we don’t worry about that and take the calculated quota, which we see on our PC screen, for granted.
How this quota is created or calculated, usually remains unanswered. We must also not ask ourselves what considerations are behind it. Well, we don’t see it that strictly, because we all may ask this question, but it is usually useless if we do so, because all in all it is usually a mistake and the considerations lead to nothing. We can therefore only make certain assumptions when answering our initial question and can never come to a conscientious result, which is determined by the fact that the different betting providers have their own calculation methods and of course they will not want to share these with the public. In this context, it is worth pointing out that this is the only competitive advantage that this industry has. However, the odds are also approximately the same. A comparison is rarely worthwhile as a customer, because the comparison here shows that the odds between, for example, Bwin or Netbet are approximately the same, at least for the games with a large audience. A good example of this are most of the games in football. Especially at the TOP events (just think of the final in the Champions League or even the World Cup matches in soccer) it is very difficult to get different odds. However, you can assume that the odds will converge just because of the competition. This is also necessary in the sense of equality and one can safely assume that this circumstance will not change in the future. We can therefore already conclude from our initial observations for the calculation and evaluation of the quotas for sporting events that, in principle, they are a trade secret.
Furthermore, the odds are also significantly influenced by the competition.
Most sports betting providers probably already offer the customer certain odds for a variety of events in football on the basis of such considerations, but how do they work and how can this help players to be more successful in selecting the winners? The odds on different football events are knitted in the same way everywhere. This is due to the fact that even from empirical observations one can see very well that there are hardly any differences. Take your time and observe the odds of all betting providers on a weekend where the entire Bundesliga is playing. You will be able to see almost the same odds for almost all games of the German Bundesliga. This is largely due to the fact that the transparency is already so great. Of course, very few customers will take the trouble to compare the odds of all betting providers of all games of the German Bundesliga but it could be. Most of the time, it is noticeable that the odds are almost the same simply because of the very intensive advertising. The advertising can be found mostly on all websites where you are watching the game. Alternatively, there is of course the advertising for the current odds on TV in a sub-fade in a subtitle, where you can also see several providers. You will also quickly notice that the other three betting providers also offer approximately the same odds for the game. These companies now accept bets for a variety of events. From the games themselves to the next manager markets, potential transfers and apparently everything in between. Understanding how odds are calculated and what they mean in practice is an essential part of building the system for a successful player.
It underpins everything that comes after that, so it is an important and notable skill to become familiar with both the odds and what they represent.
Basically, you can’t prove any calculation because they represent the provider’s capital. But you can understand them and therefore understand how the odds work. There are basic approaches to this and although they can ultimately only be seen as indications for an approximate calculation of the ratios, we would like to go into them briefly here. It makes the option wide open and thus customers may be able to better understand the odds. Odds are one way to show the probability of an event. The price given is a percentage chance that something will happen or not. The table below shows a range of odds of breakage and their relationship to the implied chances that this selection is correct. First, in sports such as baseball, soccer or basketball, a line is drawn by a supplier based on its analysis of the mutual odds and the expected outcome. The casino or sports betting provider is essentially a provider of these odds. Check offers like the 1xBet sign up bonus before you play
After the line is discontinued, the line will fluctuate depending on where the public’s money goes.
One is led therefore also in this respect on the basis of current events and this lets also easily recognize how difficult it is for the outside king of the competition to make capital from this chapter. Nevertheless it seems to be a very lucrative business model. The goal of the casino is to move the line up or down so that the money on both sides of the offer is balanced and the sports betting provider makes a minimum amount and his money from the total stake for the current game. Most of the time this works well for the sports betting provider, but sometimes the lines are not calculated exactly in the way that this might initially be seen as a benchmark. This also creates opportunities off the beaten track throughout. The lines of some providers of sports betting are not controlled, even though one usually speaks of the licensed casinos and sports betting providers. According to information from the Internet they do not interfere here in the calculation.
