Odds probability

Odds probability

In fact, when we calculate all the possible outcomes of the match, it equals to 100%. It is not more or less than 100%. However, when we calculate the odds of "ANY" bookmaker, we can see that the odds offer more than 100%.

Bookmakers grab their own winning percents from your stake. How? Let's see.

Example:

Airdrie Utd v East Fife 1.40 - 3.75 - 7.00

Home win probability: 1 / 1.40 = 71.4%
Draw probability: 1 / 3.75 = 26.6%
Away win probability: 1 / 7.50 = 14.2%

71.4 + 26.6 + 14.2 = 112.2%

It means you confirm that you lost 12.2% on average before the kick of the match for this example. It may vary from bookie to bookie or match to match. Some bookies may take about 10% for soccer and 5% for basketball and some take %15 for basketball and 5% for soccer. This is up to your bookie.

# Here we created a table about odds probability.

Hopefully, it helps you:

1.01..........99.01%
1.02..........98.04%
1.03..........97.09%
1.04..........96.15%
1.05..........95.24%
1.06..........94.34%
1.07..........93.46%
1.08..........92.59%
1.09..........91.74%
1.10..........90.91%
1.11..........90.09%
1.12..........89.29%
1.13..........88.50%
1.14..........87.72%
1.15..........86.96%
1.16..........86.21%
1.17..........85.47%
1.18..........84.75%
1.19..........84.03%
1.20..........83.33%
1.21..........82.64%
1.22..........81.97%
1.23..........81.30%
1.24..........80.65%
1.25..........80.00%
1.26..........79.37%
1.27..........78.74%
1.28..........78.13%
1.29..........77.52%
1.30..........76.92%
1.31..........76.34%
1.32..........75.76%
1.33..........75.19%
1.34..........74.63%
1.35..........74.07%
1.36..........73.53%
1.37..........72.99%
1.38..........72.46%
1.39..........71.94%
1.40..........71.43%
1.41..........70.92%
1.42..........70.42%
1.43..........69.93%
1.44..........69.44%
1.45..........68.97%
1.46..........68.49%
1.47..........68.03%
1.48..........67.57%
1.49..........67.11%
1.50..........66.67%
1.51..........66.23%
1.52..........65.79%
1.53..........65.36%
1.54..........64.94%
1.55..........64.52%
1.56..........64.10%
1.57..........63.69%
1.58..........63.29%
1.59..........62.89%
1.60..........62.50%
1.61..........62.11%
1.62..........61.73%
1.63..........61.35%
1.64..........60.98%
1.65..........60.61%
1.66..........60.24%
1.67..........59.88%
1.68..........59.52%
1.69..........59.17%
1.70..........58.82%
1.71..........58.48%
1.72..........58.14%
1.73..........57.80%
1.74..........57.47%
1.75..........57.14%
1.76..........56.82%
1.77..........56.50%
1.78..........56.18%
1.79..........55.87%
1.80..........55.56%
1.81..........55.25%
1.82..........54.95%
1.83..........54.64%
1.84..........54.35%
1.85..........54.05%
1.86..........53.76%
1.87..........53.48%
1.88..........53.19%
1.89..........52.91%
1.90..........52.63%
1.91..........52.36%
1.92..........52.08%
1.93..........51.81%
1.94..........51.55%
1.95..........51.28%
1.96..........51.02%
1.97..........50.76%
1.98..........50.51%
1.99..........50.25%
2.00..........50.00%
2.10..........47.62%
2.20..........45.45%
2.30..........43.48%
2.40..........41.67%
2.50..........40.00%
2.60..........38.46%
2.70..........37.04%
2.80..........35.71%
2.90..........34.48%
3.00..........33.33%
3.10..........32.26%
3.20..........31.25%
3.30..........30.30%
3.40..........29.41%
3.50..........28.57%
3.60..........27.78%
3.70..........27.03%
3.80..........26.32%
3.90..........25.64%
4.00..........25.00%
4.10..........24.39%
4.20..........23.81%
4.30..........23.26%
4.40..........22.73%
4.50..........22.22%
4.60..........21.74%
4.70..........21.28%
4.80..........20.83%
4.90..........20.41%
5.00..........20.00%
6.00..........16.67%
7.00..........14.29%
8.00..........12.50%
10.00........10.00%
15.00..........6.67%
20.00..........5.00%
50.00..........2.00%
100.00........1.00%
200.00........0.50%
300.00........0.33%
400.00........0.25%
500.00........0.20%
600.00........0.17%
700.00........0.14%
800.00........0.13%
900.00........0.11%
1'000.00......0.10%
2'000.00......0.05%
5'000.00......0.02%
10'000.00.....0.01%

Or you can calculate it on your own with this formula:

1 / Odds = Probability

As we said before, we recommend you to choose a bookmaker which offers better odds for the sports you are interested.