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The same people would use price comparison sites to get the best deal on their car insurance, or spend hours online looking for the cheapest price on a new sofa. But when it comes to sports betting, they do not take advantage of the choice on offer. Price is the key. Fortunately, BetConnect gives you direct access to live bookmaker prices with the option of also setting custom odds.
You can view the best prices from one account quickly and conveniently, giving you best chance of developing a winning sports betting strategy and boosting those profits! Sound good? Sign up with BetConnect today. Alternatively, you can find more information here. Necessary cookies are absolutely essential for the website to function properly.
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It is mandatory to procure user consent prior to running these cookies on your website. Why does price matter? How do you spot a value bet? Making profit in the long-run If your sports betting strategy involves consistently backing outcomes which are overpriced, you will make money in the long-run.
These odds can be represented as implied probabilities or percentages by multiplying by as follows:. The bookmaker, in his wish to avail himself of a profit, will invariably reduce these odds. Consider the simplest model of reducing, which uses a proportional decreasing of odds. For the above example, the following odds are in the same proportion with regard to their implied probabilities :.
Examining how he potentially achieves this:. In reality, bookmakers use models of reducing that are more complicated than the model of the "ideal" situation. Bookmaker margin in English football leagues decreased in recent years. When a punter bettor combines more than one selection in, for example, a double , treble or accumulator then the effect of the overround in the book of each selection is compounded to the detriment of the punter in terms of the financial return compared to the true odds of all of the selections winning and thus resulting in a successful bet.
To explain the concept in the most basic of situations an example consisting of a double made up of selecting the winner from each of two tennis matches will be looked at:. In Match 1 between players A and B both players are assessed to have an equal chance of winning. The situation is the same in Match 2 between players C and D. In a fair book in each of their matches, i. However, a bookmaker would probably offer odds of for example on each of the two possible outcomes in each event each tennis match.
This results in a book for each of the tennis matches of The decimal odds of a multiple bet is often calculated by multiplying the decimal odds of the individual bets, the idea being that if the events are independent then the implied probability should be the product of the implied probabilities of the individual bets. This represents an implied probability of Thus the overround has slightly more than doubled by combining two single bets into a double. This is why bookmakers offer bets such as Lucky 15 , Lucky 31 and Lucky 63 ; offering double the odds for one winner and increasing percentage bonuses for two, three and more winners.
In general, for any accumulator bet from two to i selections, the combined percentage overround of books of B 1 , B 2 , In settling winning bets either decimal odds are used or one is added to the fractional odds: this is to include the stake in the return.
The place part of each-way bets is calculated separately from the win part; the method is identical but the odds are reduced by whatever the place factor is for the particular event see Accumulator below for detailed example. All bets are taken as 'win' bets unless 'each-way' is specifically stated.
Non-runners are treated as winners with fractional odds of zero decimal odds of 1. Fractions of pence in total winnings are invariably rounded down by bookmakers to the nearest penny below. Calculations below for multiple-bet wagers result in totals being shown for the separate categories e. Each-Way multiple bets are usually settled using a default " Win to Win, Place to Place " method, meaning that the bet consists of a win accumulator and a separate place accumulator Note: a double or treble is an accumulator with 2 or 3 selections respectively.
However, a more uncommon way of settling these type of bets is " Each-Way all Each-Way " known as " Equally Divided ", which must normally be requested as such on the betting slip in which the returns from one selection in the accumulator are split to form an equal-stake each-way bet on the next selection and so on until all selections have been used. Double  . Note: " Win to Win, Place to Place " will always provide a greater return if all selections win, whereas " Each-Way all Each-Way " provides greater compensation if one selection is a loser as each of the other winners provide a greater amount of place money for subsequent selections.
Treble  . Accumulator  . Note: 'All up to win' means there are insufficient participants in the event for place odds to be given e. The only 'place' therefore is first place, for which the win odds are given. Trixie , Yankee , Canadian , Heinz , Super Heinz and Goliath form a family of bets known as full cover bets which have all possible multiples present. Examples of winning Trixie and Yankee bets have been shown above.
The other named bets are calculated in a similar way by looking at all the possible combinations of selections in their multiples. Note: A Double may be thought of as a full cover bet with only two selections. Should a selection in one of these bets not win, then the remaining winners are treated as being a wholly successful bet on the next 'family member' down.
For example, only two winners out of three in a Trixie means the bet is settled as a double; only four winners out of five in a Canadian means it is settled as a Yankee ; only five winners out of eight in a Goliath means it is settled as a Canadian.
The place part of each-way bets is calculated separately using reduced place odds. Thus, an each-way Super Heinz on seven horses with three winners and a further two placed horses is settled as a win Trixie and a place Canadian. Virtually all bookmakers use computer software for ease, speed and accuracy of calculation for the settling of multiples bets. Patent , Lucky 15 , Lucky 31 , Lucky 63 and higher Lucky bets form a family of bets known as full cover bets with singles which have all possible multiples present together with single bets on all selections.
An examples of a winning Patent bet has been shown above. The other named bets are calculated in a similar way by looking at all the possible combinations of selections in their multiples and singles. For example, only two winners out of three in a Patent means the bet is settled as a double and two singles; only three winners out of four in a Lucky 15 means it is settled as a Patent ; only four winners out of six in a Lucky 63 means it is settled as a Lucky
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