Odds at online betting and how to convert them into probabilities
Odds at online betting and how to convert them into probabilities
Understanding of the coefficients can help you to acquire a clearer picture not only of the value of the stake, but also the nature of the sporting event which bet. What are fictitious odds?
For example, let's look at a football match between Barcelona and Real Madrid with three possible outcomes - home win, draw and away win. We will accept that, the following odds for this match - 4-6 to Barcelona, 11/4 for a draw and 4/1 for Real. Based on these factors we can determine the probability of finishing the meeting predicted by the bookmaker.