Potentash
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books
No Result
View All Result
  • Login
Potentash
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books
No Result
View All Result
  • Login
Potentash
No Result
View All Result
Making The Betwinner App Download Process In Different Operating Systems

How Betting Sites Calculate The Odds

Wambui Gichuki by Wambui Gichuki
30 September 2021
in Entertainment, Games, Internet, Sports
Reading Time: 3 mins read
6 0
0
7
SHARES
41
VIEWS
FacebookTwitterWhatsApp

The odds you’ll find when visiting the Betway Sports betting website are used to express two things: the probability of an outcome and the money you’ll win if your bet is successful. And they hardly ever miss: in most cases, the predictions at Betway are right.

As a general rule, the less money you can win by betting on a result, the “safer” (or more likely) the same result is. It makes you wonder how bookmakers like Betway predict the outcome of an event, no matter if it’s a soccer match or a car race?

Big data

As you might expect, the bookmakers don’t rely on divination to predict the outcome of a soccer match. Instead, they work with professional predictors, sometimes called oddsmakers, to do the predicting for them. And the oddsmakers don’t have crystal balls or time machines in their offices – they have computers with huge piles of information.

Whenever a player does something notable on the football pitch – a goal, a free-kick, a foul, and anything in between – these events are recorded in a database. Based on these records, oddsmakers can draw up trends that outline how a player will perform in their next game. The same is true for coaches, referees, and everyone else who has an impact on the outcome of a match.

Plus, they take into account several other factors, like the advantage of the home turf (teams usually tend to perform better if they play at their home stadium as opposed to when they visit another one), any injuries or suspensions, the time of the day, the weather, and so on. All these factors are taken into account when calculating the probability of each outcome.

From probabilities to odds

Based on these probabilities, oddsmakers can predict which team is the more likely to win a match, which players are more likely to score or get yellow cards, how many goals are likely to be scored during the match, and every other option you can bet on. The bookmakers then take these probabilities, adjust them to ensure they remain profitable, and post them on their websites or their retail locations.

Can I calculate the odds myself?

Well, you could – but it would be a huge task – and not the calculations themselves but the process of collecting all the necessary information. When we mentioned “big data” above, we meant big – the records of all players on each team, plus all the officials and coaches. Plus, there is always the algorithm needed to transform the information into probabilities. Of course, if your goal isn’t to bet perfectly every time, you can always go with safer bets, without accumulators, with a long-term strategy. But that’s a story for another time.

My Fascination With Gaming & How It All Began

Share3Tweet2SendSharePin1
Previous Post

The 90s Are Back: Great Retro Fashions That Have Made a Massive Comeback

Next Post

3 Interesting Stories About Roulette In 2021

Wambui Gichuki

Wambui Gichuki

Next Post
3 Interesting Stories About Roulette In 2021

3 Interesting Stories About Roulette In 2021

Please login to join discussion

Recommended

love song part 4

27 February 2010
623
A Girl’s Night Out With Her Friend Turned Into A Nightmare For Florence And Her Family

17 Types Of Kenyans You Are Likely To Meet In A Club

12 November 2022
75

Popular Stories

  • Pearls And Heels: Josephine Osumo

    Pearls And Heels: Josephine Osumo

    3 shares
    Share 1 Tweet 1
  • Relationships And A Tolerable Level Of Permanent Unhappiness

    1566 shares
    Share 625 Tweet 391
  • Book Review: Things I Will Tell My Daughter By Joan Thatiah

    663 shares
    Share 265 Tweet 166
  • The Singlehood Series: I Found Out My Girlfriend Had An Onlyfans Account And That Is How She Paid Her Bills

    379 shares
    Share 152 Tweet 95
  • Cars And More: A Review Of The Honda StepWGN Spada

    1734 shares
    Share 694 Tweet 434

Potentash Blog

Potentash is an award-winning lifestyle blog. We publish lifestyle content that intersects with health, women, beauty, travel, business, relationships, finances and entertainment.

Explore

  • The Singlehood Series
  • From Stairs To Ramps
  • Man Around Nairobi
  • Pearls And Heels
  • Personal Finance
  • Food + Beverage
  • Editor’s Pick
  • Reviews

Get the Potentash Newsletter

  • Newsletter Archive
  • Subscribe
  • Frequently Asked Questions
  • Privacy Policy
  • Contact Us

Copyright © 2023. Potentash, In Partnership with Decima

Welcome Back!

Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
No Result
View All Result
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books

Copyright © 2023. Potentash, In Partnership with Decima