Odd – A numerical value that is determined by the bookmaker. It expresses the probability of the outcome of the match and is key to the calculation of you evaluation. Odds views are different (3 possible types of views, see below), but the principle of creation remains the same. The odd includes a commission for the bookmaker.
American odds (USA) – On the other side of european decimal odds, americal odds are displayed from the perspective of 100 dolars. This odd can be positive or negative. Odd – 150 (minus) means, that you have to invest 150 $, for reach 100 $ of net profit. In other way, odd (for example) +170 means, when you invest 100 $, you earn 170 $ of net profit. In conversion to the decimal (European odd) of the mentioned +170, corresponds to the odd of 2,7.
Decimal odds (EU) – The most used in Europe. Let’s take an example – when the investment odds of 1.90 and a deposit of $ 100 is your total winnings amount to $ 190 (1.90 x 100), the net profit will be $ 90 (190 -100).
British course (UK) – They are written using fractions (2/1). They works just like american and decimal odd.
Steam – Concept for course changes in response to changes in supply and demand in the market. These changes can be caused by a change in weather (wind at baseball), injuries to important players or the volume of investments.
Value – It is a concept when a course offered by the bookmaker does not reflect reality. In the investor’s opinion, the probability of success is higher. This value can be estimated by an experienced investor, but can also be caused by an error in the list of courses.
Ticket – It is a statement of events and a confirmation of a closed investment. In earlier times, it was a printout with a special barcode (or other) code.
Investment strategy – A systemic approach to placing bets designed to generate an edge for the bettor over the bookmaker.
Common Misconceptions About Sports Betting Analytics
“Trust me, this system hits at 85% – I’ve back-tested it myself.” I cringe every time I hear statements like this. And I hear them a lot. During a recent sports analytics conference, a well-dressed gentleman approached me after my presentation. He pulled out his phone and proudly showed me a spreadsheet tracking his “foolproof” […]
Read article
Risk vs. Reward: Finding Your Optimal Sports Investment Strategy
A question I get asked almost weekly: “What’s your best bet for this weekend?” It seems like a straightforward question, but after 20+ years in this industry, I’ve learned it’s the wrong one to ask. The far better question – one that few people consider – is: “Which betting approach best matches my personal risk […]
Read article
Why Most Sports Bettors Fail: The Cognitive Biases Holding You Back
I had an interesting conversation with a potential client last week. Successful guy, runs his own business, clearly intelligent. He’d been betting on sports for years and was proud of his “system” – betting against public favorites in big games. “The public is always wrong,” he insisted. “Fade the popular teams and you’ll make money.” […]
Read article
Back to blog