How does a bookmaker take bets on football?

Football betting has become popular, primarily due to the high prevalence of bookmakers. You can bet on football on the website of company PinUp betting with minimal time spending. Large bookmakers, along with sites, have their own networks of points for receiving bets, but initially all offices work on the same principles.

Determination of the bookmaker

This is a legal entity that has permission (license) to provide services for betting on the results of sports matches. In addition to the fact that the bookmaker accepts bets on football, it is also responsible for the payment of winnings. Note that, in addition to sporting events, there is often an opportunity to make bets on cultural or political events.

Predictions for sports betting

Since the main task of the bookmaker’s office is to make predictions on the outcomes of events and put coefficients on them, mathematics plays an important role in the work of the analytical department of the company. The list of events and all possible outcomes for which football bets are accepted is called a line. Bookmakers seek to create a line that will be interesting to the players and, at the same time, will bring the company profit.

Creating a balanced broad line of forces only large bookmakers, with a large staff of analysts. Small offices are guided, first of all, by the coefficients exhibited by large companies. Since a small office cannot afford to incur a loss due to a smaller margin of safety, the coefficients are often underestimated, and the margin increases to cover costs.

Probability calculation

Any sporting event can have a number of outcomes, at least two – the victory of the 1st team or the victory of the 2nd team, or an athlete. The probability of an outcome varies from 0 to 100%, these are extreme values. Thus, the sum of the probabilities of all the outcomes for a particular game is 100% or 1. The more accurately the bookmaker office determines the probability, the more correctly the odds are set.

The calculation of the coefficient is very simple. For example, the probability of winning the team was estimated at 50% (or 0.5, in the range from 0 to 1). The coefficient is calculated as 1 / 0.5 = 2.0. The probability of 30% has a coefficient of 3.33, and 5% – 20.0. However, if you add up all the coefficients put up by the bookmaker for a certain match and return to the percentage expression, it turns out that the sum of the probabilities exceeds 100%. For example, 107%. This is not a mistake in calculations, 7% in this case is the margin of the bookmaker office, that is, its profit.

Ratio change

For the office it does not matter which bets on football players prefer. If the probabilities are calculated correctly, then at a long distance the office still remains in profit, as its margin remains. In some cases, if it becomes clear that the odds are set incorrectly, or the players massively bet on football for only one outcome, the office can change the odds.

Mobile sports betting

Nowadays, sports betting is firmly established as one of the most popular online entertainment available to millions of players around the world. A modern user often does not even need to perform additional actions in order to place bets on sports. The bookmaker’s application has already been installed on his mobile phone; all that remains is to select an event and put it on a fancy outcome. This can be done faster than you read this article to the end.

High speed and mobility are, perhaps, the main qualities that have gained sports betting in recent years. You can forget about the mandatory visit to the points of betting, the player does not even need a computer. The possibilities of a modern smartphone are more than enough to solve these problems.

Related posts