bookmakers
bookmakers, breeders-cup-tips belmont sporting-life win sports-wagering sportsbetting aussie australia Belmont-stakes virtual stakes
Tuesday, September 18, 2007
football fixed odds
football fixed odds
What is Fixed Odds Betting? The history of fixed odds dates back to the 19th century and the origins of football gambling. During the 1880s, newspapers started offering fixed prizes for correctly predicting the outcome of games. These prizes became known as "fixed odds".
Today, licensed bookmakers still offer fixed odds "prizes" for correct football match prediction. The term "fixed odds" is perhaps more appropriate for the high street bookmaker, who publishes a long list of football matches and their accompanying betting odds for the coming weekend several days in advance. This is an expensive process and cannot be repeated if mistakes are made or if the bookmaker needs to alter a price in response to customer demand. Consequently, once the list goes to print, the betting odds become fixed.
An Internet bookmaker has more flexibility in this respect, and can change a price to manage his projected liability. Nevertheless, with the exception of the most popular football leagues like the English Premiership, betting odds for the majority of matches remain unchanged up until kick-off. Even for high profile games like Manchester United versus Arsenal, where bookmakers can expect to see a large turnover, the odds available for the standard home/draw/away market may not fluctuate by more than about 10% from the original prices. Prices for other fixed odds football betting, including correct score, double result and total goals rarely change at all.
Fair odds are simply defined by the ratio of the amounts two parties would choose to risk, or stake, on the outcome of sporting a sporting event. This ratio is determined by the estimated probabilities of each outcome occurring. In an England v Scotland football game, for example, if it is estimated that England have an 80% chance of victory, the size of the stake for an England win would be 4 times that for the stake for England not to win (or 80%/20%). If England win, the bettor backing England would win £20 for an £80 stake. In England fail to win, the bettor backing England not to win would return a profit of £80 from a £20 stake. Consequently, the odds for an England victory would be 1/4, and 4/1 fo England not to win. The expected probability of all possible betting outcomes will total 100%. "Odds" is really just a betting term for probability. Of course, in football match betting, odds are also offered for the draw.
A bookmaker is a person or business that provide an odds market for one or more events, with prices available for all possible event outcomes, adjusted according to the demand of the bookmaker's customers, the punters. "Bookmaking" technically refers to the management of betting probabilities for the purposes of making a profit over a large number of events for which odds are offered. A "book" is simply the full record of betting transactions at all the available odds made with the punters for a particular event.
Since the bookmaker's aim is to make a profit, he will never offer a book where the expected probability of all possible betting outcomes on a single event totals 100%. By reducing the odds for each betting outcome, the totality of expected probabilities is increased above 100%, thereby ensuring that, if managed correctly, the book will make a profit for the bookmaker. The size of this expected profit margin is sometimes referred to as the bookmaker's overround. Although in this sense bookmakers' odds are unfair odds, overround betting was actually introduced in the early 19th century to remove the necessity to cheat. The standardization of the bookmaker's profit margin according to mathematical principles effectively professionalized the betting industry.
Odds of 4/1 are sometimes called fractional odds. More frequently on the Internet today bookmakers make use of decimal notation to express the odds of various available wagers. It is fairly straightforward to convert from fractional odds into decimal odds, because the size of the fractional odds represents the potential profit from a winning bet.
Decimal odds = Fractional odds + 1
For fractional odds of 9/4, the value of the decimal odds will be given by:
(9/4) + 1 = (9/4) + (4/4) = (13/4) = 3.25
Usually, decimal odds are rounded to the nearest 2 or at most 3 decimal places. Consequently, fractional odds of 10/11 would be rounded to 1.91 (since 21/11 = 1.909090909…).
While choosing one of three possible outcome of a match seems simple enough, the key to successful long term betting is to be able to produce consistent prediction over the long term. We typically do not like to bet on draws as it is the most unlikely result although it has the highest payout on average. High payout means that the probability of the outcome is remote. That is why these bets are called long shots. Football Odds Live Score "Just writing to let you know that I am learning plenty from your advisory service and betting guide. For the price, this is the best package one can buy."- Simon Clanton., NY More Testimonials Betting money on sport is as Australian as spreading Vegemite on toast. Nowhere else in the world does a two-mile handicap horse race stop a nation and it's only a matter of time before participating in footy tipping competitions becomes compulsory for office employees. Australians love punting so much that they would bet on two flies crawling up a wall.
Enterbet is your expert guide to the wonderful world of sports betting. Do not worry if you think that punting is something to which American football teams resort on fourth down and long when they are playing safe. We can fix that. Putting men on Mars is rocket science. Putting bets on sport is not, or at least it will not be if you visit Enterbet for its news, views and previews.
The history of fixed odds betting dates back to the 19th century when newspapers offered fixed prizes for predicting the outcomes of sports events correctly. Nowadays bookmakers do likewise, except that it is considerably easier for the current generation of forecasters to win because they do not have to beat anyone other than the odds compiling team of their favourite bookmaker.
Fixed odds markets
There are many types of fixed odds markets. Some options are complicated but the majority of punters stick to the basic ones. The most popular market is match betting because it suits soccer so well. Imagine that English Premier League champion Arsenal is playing Manchester United at Highbury. Bookmakers will quote odds on Arsenal winning the match, United winning the match and the match ending in a draw. Sometimes bookmakers refer to match betting as 1X2 betting because "1" denotes the home team, "X" denotes the draw and "2" denotes the away team.
Head-to-head betting suits Australia's major football codes because draws are uncommon in Australian football, rugby league and rugby union matches. Bookmakers do not quote draw odds so, if a match ends without a winner, they pay half the face value of bets on the tied teams. Handicap betting is a popular branch of head-to-head betting and bookmakers offer it on all Australian football, rugby league and rugby union matches. Let us use the Rugby World Cup title decider between Australia and England at Telstra Stadium to illustrate how handicap betting works. England won the match and the trophy but punters who backed it on handicap lines lost because bookmakers gave as many as 11.5 points to Australia so as to even up the contest for betting purposes.
Futures betting markets are the ones with which punting newcomers are most familiar. Betting on Australian Football League champion Brisbane winning the Grand Final and thereby becoming the second team to win four premierships in a row is an example of a futures bet. Others include betting on National Rugby League struggler South Sydney collecting consecutive wooden spoons or World Cup favourite New Zealand regaining rugby union's biggest prize. Sometimes bookmakers refer to futures betting as ante-post betting because such markets have their origins in horse racing.
Fixed odds bets
There are many types of fixed odds bets. A single is the simplest bet to understand. For example, a $100 single bet on Melbourne winning the AFL Grand Final at 13.00 would, if successful, return $1300. You simply multiply your stake by your bookmaker's odds to calculate your potential dividend. Bookmakers refer to bets that involve more than one selection as multiples and they come in different shapes and sizes. A $100 double bet on Melbourne winning the AFL Grand Final at 13.00 and Penrith winning the NRL Grand Final at 6.00 would, if successful, return $7800. Treble bets work in exactly the same way except that you make three selections. The sky is not the limit for multiples as most bookmakers do not accept a bet that involves more than a dozen selections.
Boxed bets are the most complex of multiples. A NRL round comprises seven matches. You think that the home teams will sweep the away teams. A boxed bet on seven selections would total 120 bets - 21 doubles, 35 trebles, 35 four-timers, 21 five-timers, seven six-timers and one seven-timer - for full cover. The odds are stacked against punters who bet in this manner but that does stop them trying to win large sums of money for small stakes. Bookmakers love accepting big boxed bets. That is until someone strikes it lucky and makes them sign a banker's cheque for six figures.
Now that you know the basics all that you have to do is visit Enterbet regularly for supplementary punting lessons. We will teach you about probability law and reveal the principles of value betting, something in which all punters should be versed. Above all else, enjoy betting on your favourite sports, whatever they may be, and never gamble money that you cannot afford to lose.
http://www.enterbet.com
Fixed Odds Sports Betting, The Basics of Winning Sports Betting (Basics of Winning)Forms of betting, the bet, the bookmaker, the odds, odds.Fixed odds. Fixed odds football betting. Fixed Odds, Trading, the basics of fixed odds Fixed odds football betting Fixed Odds, the basics of fixed odds, fixed odds. Fixed Odds, Sports Betting, fixed odds football, soccer betting, how to predict football scores, beat the bookmaker with your gambling. Fixed odds football betting, Fixed Odds Football Match.
Labels: football fixed odds, football nfl picks, gambling on football, odds on football, soccer bet
Monday, November 13, 2006
bookmakers
bookmaker, bookie or turf accountant, is an organisation or a person that takes bets and may pay winnings depending upon results and, depending on the nature of the bet, the odds. Bookmaking may be legal or illegal, and may be regulated; in the it was at times both regulated and illegal, in that licences were required but no debts arising from gambling could be enforced through the courts.
Bookmaking is generally illegal in the United States, with Nevada being a notable exception.
In some countries, such as Singapore and Canada, the only legal bookmaker is state-owned and operated. In Canada, this is part of the lottery programme and is known as Sport Select.
Most bookmakers in the USA bet on college and professional sports, though in the UK they offer a wider range of bets, notably on political elections. The probability that it will snow on Christmas day is another common event for betting in the UK.
By adjusting the odds in his favour or by having a poitn spread, the bookmaker will aim to guarantee a profit by achieving a 'balanced book', either by getting an equal number of bets for each outcome, or (when he is offering odds) by getting the amounts wagered on each outcome to reflect the odds. When a large bet comes in, a bookmaker can also try to lay off the risk by buying bets from other bookmakers. The bookmaker does not generally attempt to make money from the bets themselves, but rather profiting from the event regardless of the outcome.
Traditionally, bookmakers have been located at the racecourse, but improved TV coverage and laxer laws have allowed betting in shops and casinos in most countries. In the UK, bookies still mark up the odds on boards beside the race course and use tic-tac or mobile telephones to communicate the odds between their staff and to other bookies.
In 1961, Harold Macmillan's Conservative Government legalised betting shops and tough measures were enacted to ensure that bookmakers remained honest. A large and respectable industry has grown since. At one time there were over 15,000 betting shops in the UK Now, through consolidation, they have been reduced to about 8,500. Currently there are four major bookmakers in the United Kingdom: William Hill, Ladbrokes, Gala Group.
Increasingly, gamblers are turning to the use of betting exchanges which automatically match Back and Lay bets between different bettors, thus effectively cutting out the bookmaker's traditional profit margin. Some bookmakers have even taken to using betting exchanges as a way of laying off unfavourable bets and thus reducing their overall exposure. This has led insecurity from the tab in Australia, a government-run betting agency which attempted to deny Betfair an Australian licence by running unfavourable ads in the media regarding the company.
Sometimes, savvy individuals set up an illegal book in an attempt to make money - a scene often seen in films, sitcoms and so on. One of the most infamous real-life illegal bookmakers was Robert Angleton of Houston. Not only was he a bookie, but he also was a police informant about his smaller rivals. When they were shuttered, he took their business. His bookmaking scheme ended with the death of his wife, Doris Angleton.
Bookmakers Index is a definitive directory of Online UK bookmakers - Now with ODDS COMPARISON and details of Free Bet Offers Online Betting and Bookmaker Links. Betting Tips and Comment · Euro 2008 Betting Offers · Golf Betting Offers · Football 2006/07 Betting Offers Compare bookmakers on betting,language,currency,sports coverage,deposit methods and more
|