One of the first concepts that players encounter in a betting shop is the betting coefficient. In other words, this is the data of the bookmaker’s calculations, which assesses each bet in the line.
In fact, it’s quite simple to understand what the opponents’ chances of winning are. You can also calculate the coefficient for different events yourself. After all, if the bet plays, then the final win will depend on it.
What is the coefficient in sports betting
The coefficient in sports betting shows the probability of a particular outcome of an event from the point of view of the bookmaker. If the game is predictable, the odds on the favorite will be low, respectively, and the winnings will be small. The lower the probability of an event (for example, a bet on an outsider), the higher the proposed coefficient will be, but the risk is correspondingly very high.
Methods of calculating coefficients
Bookmakers have entire analytical departments in their staff, which are designed to calculate probabilities, determine the chances of winning and set odds. Competently set sports betting odds help companies stay afloat and work profitably
There are the following types of calculations:
Analytical: the result is obtained during the study of statistics. This method is often used by professional players;
Heuristic: even novice players will be able to figure it out here. It is based on studying the opinions of other players, professional forecasters and analysts.
Separately, it should be noted that the coefficients displayed in the line of bookmakers already contain the pledged profit – the so-called bookmaker’s margin. So the true probability of the event will be slightly higher than shown by the coefficient.