Pool/Tote Betting Vs Fixed Odds Betting:
Pool or Parimutuel/Tote betting:
Pool or Parimutuel/Tote betting is a system in which all bets of a particular type are placed together in a pool like Sportstake and Soccer 13/10/6/4. The “house-take” is removed, and the payout odds are calculated by sharing the pool between all winning bets.
Because the operators of Pool betting don’t know how many bets are going to be placed until the Pool closes players don’t know the actual odds.
Fixed odds betting:
Fixed odds betting is a form of wagering where the punter knows the exact odds he/she will receive when they place a bet. Unlike pool betting, not all punters who bet on the same outcome will receive the same odds. This is because the odds can shift over time based on the quantities wagered on each outcome.
The bookmaker will actively price and adjust the odds such that it will make a profit regardless of the outcome. This is achieved by calibrating the odds so that the sum of their implied probabilities exceeds 100%. In a two-outcome bet, if punters bet heavily on outcome A the bookmaker will reduce the odds on outcome A and increase the odds on outcome B, while keeping the margin relatively stable. This shift in odds will induce more betting on outcome B, which will enable the bookmaker to balance the book.
Note that the bookmaker doesn’t necessarily need punters to place equal wagers on each outcome, it actually needs punters to place wagers in inverse proportion to the odds on offer.
Fixed odds betting is more risky for the sports bookmaker than the Pool betting, because the profit margin is not guaranteed and the bookmaker’s profit will not be the same for every outcome.
Despite the fact that bookmakers independently tweak their odds the maintain a balanced book, odds across bookmakers are usually very similar. This is because arbitrage opportunities can arise if bookmaker odds move to be in stark contrast with one another. Arbitrageurs will jump in to make a guaranteed profit, and in the process will move the bookmaker odds back in-line with one another, thus closing the arbitrage opportunity.
All online betting sites show, either what your return or winnings will be on any bet you make prior to confirming.
There are hundreds of different ways to place sports bets, from simple win, lose or draw, to live in match betting, to 1st team to score, to predicting the final score, to top goal scorer to who will win the league to who will finish bottom – all of which will be covered in future posts.
The information covered in this post is to help new players understand how basic betting odds work.
Introduction:
For the 1st time sports punter, understanding how sports betting odds work can be confusing . For those players who want to or have just started betting on sports, to know how the odds work is very important for a profitable and enjoyable betting experience.
Diskitips is here to give you an overview of the basic styles of betting odds, how you can read the different formats, and how to use them to your favor to win more.
There are three different way that sports betting odds can be displayed.
Decimal/European/SA Odds (e.g 1.40)
Fractional/UK Odds (e.g 12/5)
American Odds (e.g +110)
Most online sportsbooks like Supabets will offer the option of displaying odds in decimal, fractional or American fashion.
Decimal Odds are most popular in South Africa and the easiest to understand, so we will use decimal odds for the purposes of this example.
With decimal odds the figure quoted is the exact amount that will be paid out if the bet is a winner. Decimal odds are essentially equivalent to the decimal value of the fractional odds, plus one.
You simply multiply the value of your bet by the decimal odds value and you will have the amount of money you will collect as a winner.
For example- In the Champions League match between Arsenal vs Fc Basel.
Arsenal the home team are the favorites according to the bookmakers as they have the lowest odds vs Basel who have the highest odds. (Don’t always rely on the bookmakers odds when deciding who to bet on).
NB* Home Teams are always listed 1st on a bet slip – even if the game is played at a neutral venue.
The odds for Arsenal to win are priced at (0.41) and if you bet (R100.00) on the home win, and Arsenal win – you will receive (R41.00) win payout, plus your original R100.00 stake back, so in total your payout would be (R141.00) – see the image below.
The odds for a draw in this match are (3.65) and if you bet (R100.00) on the match ending in a draw, and it does – you will receive (R365.00) win payout, plus your original R100.00 stake back, so in total your payout would be (R465.00) – see the image below.
The odds for a Basel win are the highest in this match at (6.10) and if you bet (R100.00) on the match ending in an away win for Basel, and it does – you will receive (R610.00) win payout, plus your original R100.00 stake back, so in total your payout would be (R710.00) – see the image below.
Accumulators, Multi or Parlays Bets:
Accumulators, Multi or Parlays Bets allow you to bet on multiple outcomes for different events, multiplying the potential rewards. We look at how parlays can pay off & what their drawbacks are.
When you make an Accumulator, Multi or Parlay Bet, you’re actually placing multiple bets on different events. For example, a traditional soccer 5 accumulator might look like this:
The above Multi Bet selection shows that a bet has been placed on PSG, Arsenal, Barcelona, Monaco to win and Tottenham Hotspur to draw.
If all five of these teams win, the payout would be the five sets of odds multiplied together giving a total max of odds of 18.72.
Therefore if you placed a R100.00 bet on this accumulator, you would get back R2169.53 -R2069.00 profit plus your R100.00 stake.
Supabets gives you a bonus for playing multi or accumulator bets up to 30% of your total bet depending on the number of teams you bet on in one bet.
As you can see, even simple accumulators can win you more. With increased winnings comes increased risk, however. Should any of those five selections be incorrect, you won’t win anything. It’s considered a good tactic with accumulators to have “bankers”, selections where you feel more strongly about the outcome. You can then use these to build bigger winnings using slightly longer-odds bets.