What is an odds in sports betting?
The odds in sports betting show the probability of a particular outcome of an event from the bookmaker’s point of view. If the game is predictable, the odds on the favorite will be low, and therefore the winnings will be small. The lower the probability of an event (for example, a bet on an outsider), the higher the offered odds will be, but the risk is correspondingly very high.
Methods for calculating odds
Bookmakers have entire analytical departments on staff, which are designed to calculate probabilities, determine the chances of winning and set odds. Properly set sports betting odds help companies stay afloat and operate profitably
The following types of calculations exist:
- Analytical: the result is obtained by studying statistics. This method is often used by professional players;
- Heuristic: even novice players can figure it out here. Based on studying the opinions of other players, professional forecasters and analysts.
Separately, it is worth noting that the odds set by bookmakers already contain a built-in profit - the so-called bookmaker’s margin. So the true probability of an event will be slightly higher than indicated by the coefficient.
How to calculate winnings?
Sports betting is considered by bookmaker clients as a way to make money. And for a novice player it is important to immediately understand how to correctly calculate the possible winnings.
All Russian bookmakers use the classic European format, so to determine the winnings you need to multiply the bet amount by the numerical odds offered in the line.
Let's give an example.
For example, placing a bet of 200 rubles on the football match “Liverpool” - “Chelsea” at odds of 1.70, the net winnings will be 140 rubles. The calculation is made using the simplest formula
200*1.70-200 (bet amount)=140
Along the line, Liverpool have a clear superiority, albeit small. In case of a draw or Chelsea win, the bet will lose accordingly. The higher the offered coefficient, the higher the amount of possible winnings, but the risk of loss also increases in the same progression.
Useful tips
The first thing you need to remember is to monitor the movement of odds. In sports, a lot depends on the circumstances. Numbers can change due to player injuries, litigation, leader transfers to another team, even bad weather can have a significant impact.
Such a scenario can lead to unexpected changes in the opponents’ play, and if you react in time, you will be able to make money from it.
Another important point is that every novice player needs to learn how to convert odds into percentages in order to independently assess the teams’ chances.
For example, in the line we see the following data: Liverpool win – 3.05, draw – 4.5, Chelsea win – 2.00. To determine what probability the bookmaker sees in a particular outcome, you need to divide 100% by the odds.
As a result we get:
- Liverpool – chance of winning 32.78% (100/3.05);
- Chelsea – 50% chance of winning (100/2);
- Draw – 22.2% (100/4.5).
Anti-virus restrictions in the regions are being lifted and reintroduced
A number of regions, after announcing the easing of self-isolation regimes, encountered outbreaks of morbidity and decided to extend restrictions. Prime Minister Mikhail Mishustin recently announced a possible easing of restrictions in 27 regions, but subsequently reduced this number to 17. Experts note that regional authorities are in a trap - on the one hand, lifting restrictions will allow the economy to recover, on the other, it could lead to new outbreaks .
On May 8, Rospotrebnadzor issued methodological recommendations to regions (.pdf) on the gradual lifting of restrictions. At the first stage
Walking and playing sports on the street, the operation of non-food stores and service facilities with a sales area of up to 400 square meters are allowed.
m. At the second stage,
regional authorities can open retail facilities with rooms up to 800 sq. m.
m, as well as individual educational organizations. At the first two stages, the requirement for occupancy of the sales area is maintained at the rate of one person per 4 square meters. m. At the third stage
, the work of trade and service enterprises can be resumed (without limiting the number of simultaneously served visitors and the area of the opened facility), as well as hotels, all educational institutions, public catering establishments (with the placement of partitions or ensuring a distance of 1.5– 2 m between tables). Also, at the third stage, parks and other places for public recreation may be opened, subject to social distancing.
Governors should make decisions on relaxations on the recommendation of sanitary doctors. To return citizens of a particular subject of the Russian Federation to their normal life, there are three criteria:
- The first is the infection spread rate (the average number of people a patient infects before he is isolated). For the first stage of lifting restrictions, it should be equal to one, for the second - 0.8, for the third - 0.5.
- The second is testing coverage. It should be 70 people per 100 thousand population in the first stage, 90 per 100 thousand in the second and 110 per 100 thousand in the third.
- At all stages, the availability of free infectious disease beds in the region should be 50% of the regulatory need.
Vladimir Putin abolished the non-working days regime from May 12. Although the president emphasized that decisions to lift restrictions in each region would be made in stages, many Russians took this as a signal for a mass exit into their yards and playgrounds, and regional heads began to weaken the regimes even before the president’s announcement. On May 18, Prime Minister Mikhail Mishustin said that 27 regions were ready for a partial easing of restrictions, but already on May 20 he spoke about only 17 regions. A number of regions that began to soften “antivirus” regimes were eventually forced to return or extend restrictions.
Thus, on May 15, the authorities of the Smolensk region
Some of the restrictions lifted three days earlier were returned. Then the region allowed the operation of retail trade, government agencies, municipal enterprises, as well as buildings, structures and transport infrastructure structures, in particular train stations.
The regional operational headquarters explained that they did this on the recommendation of Rospotrebnadzor, and the epidemic situation worsened because Smolensk residents began to neglect the requirements of wearing masks and maintaining social distance.
Authorities of the Perm region
From May 12, hairdressers and non-food stores with an area of up to 50 square meters resumed operations. m, and citizens were allowed to walk alone and with family and play sports on the street. But in the week from May 11 to May 17, the daily increase in patients was 5–7%, and the coefficient jumped to 2.1. As a result, the authorities returned the regime of strict self-isolation for residents over 65 years of age, as well as those with chronic diseases. The deadline for lifting the self-isolation regime was moved from May 25 to June 8.
In the Stavropol Territory
It was planned to lift restrictive measures on May 18 with the simultaneous introduction of a mask regime, but after an appeal from the chief sanitary doctor of the region, the period for lifting restrictions was extended until May 24, and the decision to open non-food stores was canceled.
At the same time, the regional authorities allowed hairdressers to operate, dentists opened on May 12 and intermunicipal transport was opened, and from June 1 they may allow sanatoriums to operate.
In mid-May, the authorities of the Sverdlovsk region
. Governor Yevgeny Kuyvashev said on May 15 that the infection rate was 0.71. The head of the region announced the possibility of opening shops, shopping centers and catering facilities while maintaining social distance in them. But the region’s chief sanitary doctor, Dmitry Kozlovskikh, said that easing the measures is unacceptable. According to his calculations, the infection rate in the region was higher than normal and amounted to 1.1. Also, there is not enough available bed capacity in the region (35.3% instead of 50% of the standard), Mr. Kozlovskikh argued.
As a result, Mr. Kuyvashev allowed private clinics and hairdressers to operate from May 19, but extended most of the restrictions until May 25. He was also prompted to make this decision by an outbreak of illness at the warehouse of a logistics company that delivers goods to Red & White stores.
Dmitry Kozlovskikh urged not to wait for the opening of shopping centers and cafes in the near future.
A contradictory situation has developed in the Ulyanovsk region
. From May 16, the governor allowed beauty salons, dentists, MFCs and a number of other organizations to operate. Citizens were allowed to take walks in parks and exercise alone in the evenings. In the region, a mask regime was introduced in stores and on public transport. Declaration of safety guarantees (with strict checks) has also been introduced for all trade organizations.
As Kommersant was told by the Ulyanovsk Region Industry and Entrepreneurship Development Corporation, if the situation is favorable, from June 1 it is possible, for example, to resume the work of catering (in a restrictive format), as well as educational, sports, excursion and recreational organizations.
However, if before this the increase in the number of cases per day was 30–40 cases, then in mid-May these numbers increased to 80–106 cases. The regional department of Rospotrebnadzor associated this with “including an increase in testing volumes,” but still opposed further easing. Moreover, the number of beds for coronavirus patients is planned to be doubled.
Business awaits easing of restrictive measures
Authorities of the Krasnodar region
, which previously announced plans to open resorts from June 1, extended the quarantine until June 6, Governor Veniamin Kondratyev announced on May 21 in his Telegram channel. He clarified that movement between municipalities is still possible only with passes, and entry into the region from other regions is limited (with the exception of transit); observatories continue to work.
There remains a ban on mass, sporting and children's events; parks, embankments, beaches and shopping centers remain closed. Residents over 65 years of age and people with chronic diseases must self-isolate. At the same time, from May 23, the work of construction enterprises, hairdressers and beauty salons, car dealerships and car washes, construction stores and other retail outlets with an area of up to 400 square meters was allowed. m. Restrictions on movement within municipalities will be lifted.
In Krasnoyarsk region
Governor Alexander Uss has been lifting restrictions in more and more areas since the end of April. In mid-May, the resumption of work of hairdressers, studios and other service organizations throughout the region was discussed, but plans changed after an outbreak of coronavirus in the North Yenisei region at a gold mining enterprise, where more than 270 infected people were identified. Beauty salons, beauty salons and hairdressers are scheduled to open from May 25.
A number of regional officials did not answer Kommersant’s questions about whether they are preparing for possible new outbreaks of morbidity in connection with the easing of regimes, or stated that they are ready for any scenario.
How regions are easing the self-isolation regime
Political scientist Konstantin Kalachev emphasizes that a slowdown in the pace of lifting quarantine is fraught with grave economic consequences for the regions, and an acceleration is fraught with an increase in morbidity and an increase in the burden on healthcare: “Governors and sanitary doctors are caught between two millstones. But restrictions must be gradually lifted not only in support of the federal trend, but also simply for the sake of maintaining control over the situation. Otherwise, people will increasingly violate prohibitions, and the service sector will be restored as an informal sector.” In his opinion, the lifting of restrictions is acceptable where regional medicine is sufficiently developed. Director of the St. Petersburg Politics Foundation Mikhail Vinogradov also believes that the most reasonable way is “to lift restrictions in those municipalities where the situation is favorable, and not rush into the rest.”
Doctors note that new outbreaks of infection in some cases are the result of easing quarantine.
According to the chief physician of medicine, infectious disease specialist Evgeniy Timakov, citizens who do not follow precautionary measures are to blame for new outbreaks after the partial lifting of restrictions: “I don’t understand people who actually refuse to support the economy of their own country. Is it really that hard to keep your distance and wear a mask?” Co-chairman of the medical workers’ union “Action” Andrei Konovalov assesses the epidemic situation as difficult: “We are already receiving a serious amount of refusal to provide assistance (including in cases not related to coronavirus. — “Kommersant”
). For example, in the Moscow region, an ambulance takes 5–8 hours to respond to a call; there was a case when it took 23 hours or did not arrive at all, and the request was forwarded to the local doctor.”
Vladimir Kheifets, Kira Duryagina, Kommersant correspondent network
Differences between bookmaker odds
Watching different bookmakers, you can see how their odds for the same event can differ. The main factor behind these differences is the already mentioned bookmaker margin, which you can read about here.
Some deliberately inflate it in order to reduce their risks and increase profits, while others, on the contrary, attract players with high odds, working to increase profits by expanding the client base.
So before placing a bet, you should take a closer look at the bookmaker, carefully study its odds and compare it with its competitors. After all, your potential earnings directly depend on this.
Calculation of the current liquidity ratio
The formula for the current ratio is the quotient of dividing the total value of current assets by one of the amounts, which is taken as the value of short-term liabilities.
The value of short-term liabilities can be determined depending on the specific data used for this in 3 ways:
- From the entire amount that forms the total for Section V (i.e., from the sum of all existing short-term liabilities), then the calculation formula can be presented as follows:
KLtek = OborAkt / KrObjaz,
Where:
KLTek – current liquidity ratio;
Turnover – the total value of the value of current assets;
KrOliaz – the general value of the value of short-term liabilities.
- From the entire amount forming the total under Section V, with the exception of deferred income, which, strictly speaking, does not relate to liabilities. This is the algorithm that recommends using order of the Ministry of Economic Development of the Russian Federation dated April 21, 2006 No. 104 to calculate this indicator. This formula will be as follows:
KLtek = OborAkt / (KrObyaz – DokhBudPer),
Where:
KLTek – current liquidity ratio;
Turnover – the total value of the value of current assets;
KrOliaz – the general value of the value of short-term liabilities;
DokhBudPer – value corresponding to the amount of income for future periods.
Alternatively, it can be written like this:
KLtek = OborAct / (KrKred + KrKredZad + Estimated Obligation + PrObligation),
Where:
KLTek – current liquidity ratio;
Turnover – the total value of the value of current assets;
KrKred – value corresponding to the amount of short-term borrowed funds;
KrKredZad – value corresponding to the amount of short-term debts to creditors;
Estimated Liability – value corresponding to the amount of estimated liabilities;
Pro Obligation – a value corresponding to the amount of other short-term liabilities.
- From the amount of actually existing debts to creditors, the amount of which will not include future income and estimated liabilities, which are reserves created by a legal entity, which can also hardly be called real debts. The indicator calculated with such a denominator is well comparable with the indicators of absolute and quick liquidity, in the calculation of which a similar denominator is present. The formula will look like this:
KLtek = OborAct / (KrKred + KrKredZad + ProObligation),
Where:
KLTek – current liquidity ratio;
Turnover – the total value of the value of current assets;
KrKred – value corresponding to the amount of short-term borrowed funds;
KrKredZad – value corresponding to the amount of short-term debts to creditors;
Pro Obligation – a value corresponding to the amount of other short-term liabilities.
The same calculation can be reflected like this:
KLtek = OborAct / (KrObyaz – DokhBudPer – EstimObyaz),
Where:
KLTek – current liquidity ratio;
Turnover – the total value of the value of current assets;
KrOliaz – the general value of the value of short-term liabilities;
DokhBudPer – value corresponding to the amount of income for future periods;
Estimated Liability – the value corresponding to the amount of estimated liabilities.
