There are very (very!) Many people who don’t know what that is Bet is and what do you mean when you say: “I’m worried about betting.” or “I wrote a book about predictions of soccer scores and soccer bets.”

It’s hard to believe for fans of hard-to-do bets, but my family belongs to this group of fools, for example.

Even the fact that you can bet on the results of a soccer match is a new thing for many members of my family.

Therefore today’s article explains the terms “betting”, “betting”, “betting odds”, and “bookie bets”.

Bet on a coin toss example

You have a coin and after tossing, you have a head or number on it. The probability that the result is “head” or “number” is 50/50, e.g. after 100 tosses, you will throw “heads” 50 times and 50 times “number”.

Now you bet for money and place a bet on the table. Coins are reversed.

If “head” comes, the party who bet on “head” wins; come “numbers” just the opposite. One player keeps betting AND wins bets from other games; the opponent loses the bet.

If you play this, say, 100 times – and hold fast to your bet choices – that is, you bet 100 times in a row, after 100 throws you will most likely not be richer or poorer than you started having to bet. You win 50 times 1 € and 50 times you lose 1 €.

It becomes more interesting if the opposing party, who bet with you, is not willing to pay € 1 each time, must “advance”, but only accepts 90 cents as a return bet. That means, if you get a “head”, you win 90 cents, but if you get a “number”, you lose your bet and pay € 1.

This changing constellation causes losses on the one hand and gains on the other:

If you bet 100 times, expect 50 times to bet on the “head” to win (50 x 90 cents = 45 euros); 50 times, however, the “numbers” will come and you will lose 50 x 1 € = 50 €.

Anyone involved in this uneven bet will find after 100 bets that they are a total of € 5 poorer than before. The winner in this business is the person who gets $ 1 every time the “number” comes, but only has to pay 90 cents when the “Head” is thrown.

What is “betting odds” and what is “betting”?

Bets are companies that offer (= sell) bets professionally.

To stick with the example: instead of betting with friends, you bet with bets on “head” or “number”.

Bets are “friends”, who are only willing to pay 90 cents if you win and “bow their heads”, but expect the customer to use € 1 for this bet, which he is willing to lose if the “number” will come.

It should be clear that bets are long-term winners and not betting partners. That’s also a bookie business.

What can you bet with bets?

With bets you can bet anything, including soccer scores, of course.

Bets offer bets on home wins, draws or away wins, or number of goals; will there be more or less than 2.5 goals in the game or rather 2 or maybe 3?

You can bet which player will score the first or last goal, whether there will be a red card in the game and how many corners. There are hundreds of different things to stake in football.

Unfortunately, calculating probabilities and odds in a soccer game is not as easy to understand as throwing a coin.

However, it must be clear that someone who makes a living by accepting bets will be wary of accepting bets where they are long-term losers, i.e. do not have a mathematical edge on their sidet (“mathematical profit” in example: payment of 90 cents for a € 1 bet with a 50/50 chance).

If you are truly interested in betting and want at least a chance to win more than losing a bet, you must deal with betting opportunities and opportunities, with the aim of gaining mathematical excellence on your part like a bookie dealer.

Betting odds are the price of the bet

Many betting opportunities are commonly disclosed how much you won (e.g. paid), You must win your bet.

However! Even if betting odds can be converted to their “implied” probability, contrary to popular belief, they rarely reveal the actual value (100% correct) expected (Possible occurrence).

Every time a bet is placed (odds are set), the bet decides how much he wants to pay if he loses (eg bet friend wins the bet).

One more example of a coin toss:

There is a 50% chance of “head” or “number”. This is the fact.

It is stated in the European betting odds, € 1 payment (eg ‘fair’ betting odds) will correspond to a betting odds of 2.0.

Because the “friend” (bet) in this example is only willing to pay 90 cents if the other party wins, he will offer this 50% bet with the possibility of only 1.9 for sale.

This “corrected” betting opportunity for betting purposes does not mean that this 50% betting opportunity on “heads” or “numbers” has increased to 52.6% (1 divided by 1.9).

Because it is very important to remember and internalize it all odds offered are betting prices!

For repetition: Price! Not an actual probability.

However, these prices are not expressed in monetary units, but in the form of betting odds.

The betting odds (price) are of course based on actual probabilities, but are always corrected up or down, in such a way that bets (“friends”) are guaranteed to remain in the profit zone in the long run.

Can you win with a bet at all?

The answer is yes but

Find Value betAnyone who brings long-term profit with a mature schedule is everything, not easy!

Intestinal feelings don’t really help, no matter how likely you are born.

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