Succeeding in winning thanks to your bets cannot be improvised. Indeed, a good knowledge of the sport or game you are gambling on is, of course, an essential asset.

However, other factors can affect your expected winnings in betting. And on this point, mathematicians have great advantages.

Indeed, their dexterity in adding, subtracting, dividing, and statistics is very useful for making good predictions.

The Sports Betting Calculation of The Return

To find out if a bet is worth taking, you can use a betting calculator or use a simple technique that calculates the return on your bets. This sports betting calculation will allow you to get a clear idea of ​​the profits or losses you can generate with your bets. This way, you will know exactly whether the bet you want to place will be profitable for you or not.

The return on a bet is calculated as follows:

The sports rating = C

Yield = R

Profit = P

The bet = M

► R = C – 1, all multiplied by 100, to obtain a percentage result. The final calculation boils down to multiplying the stake by the return to find the profit, i.e., P = M x R.

In order to allow you to use this calculation, we are going to present it to you in a sports betting simulation.

You think Team A will win the game with an odd of 1.85. Thus, the return of the bet is 85%, because R = 1.85 - 1 = 0.85 or 85%.

If you decide to bet the sum of $10 during this meeting and your prediction proves correct, your profit will be $8.5 since P = 10 x 0.85 and therefore $8.5. Thanks to this simple calculation, you will be able to get an exact idea of ​​the profit you can make with your bet and therefore know if it is worth trying.

And to better manage your budget, you can even use the Kelly method to find out what the ideal amount to bet will be or the Paroli strategy to only play with your winnings.

Calculate Your Profit

When you make a bet, it is absolutely necessary to know how to calculate the profit that you will be able to draw from it. More generally, this allows you to know exactly what you will win at betting and what your results are over time.

To make betting a successful business, a good bettor must know if he is in the red or if he is in the profit over a long enough period to judge if it is profitable.

Here is how to calculate your profit on a prognosis:

Profit = (Odds x Stake) - Stake.

For example, if you bet $ 100 on two odds, here is the calculation:

Profit = (100 x 2) - 100 = 100 $. If your bet wins, you will therefore benefit from $100.

To calculate its long-term benefit:

Total profit = Total Winnings - Total Stakes.

For example, if you won three bets that paid you a total of $ 168, and you placed a total of five bets with stakes of $ 20 each:

Total profit = 168 - (5 x 20) = 168 - 100 = 68 $. You have therefore made a total profit of 68 $ on your 5 bets.

You should calculate your total profit only when you have enough data to do so. We advise you to calculate this once you have placed at least 5 bets.

Odds and Probability

The odds that are determined by the bookmakers are actually the representation of a probability. This is why the lower the odds, the greater the chance that the given event will actually occur.

An odd at 15 is obviously more complicated to produce than an odd at 1.30. The odds are actually the exact opposite of the probability.

Odds = 1/Probability;

Probability = 1/Odds.

For example, if you take a match where the odds are fixed at 2.00 by the bookmaker, there is:

Probability = 1/2= 0.5. This result is multiplied by 100 to obtain the percentage probability, i.e., 0.5 x 100 = 50% probability that the event will occur.

It is very interesting to know this ratio between the odds and the probability because it allows knowing exactly what chances you have for the match and the selection that you want to happen.

This also makes it possible to detect poor assessments by bookmakers and take advantage of small odds errors.

Conclusion

Of course, it is easy to understand that the probability of betting on a single is much higher than a combination bet. We advise you to always bet on unique selections to maximize your chances.

Whatever your game strategy, whether you bet on high or low odds, you will have more chances in the long term of winning by betting on simple. This is one of the methods to know how to win at betting.