How to bet the champion of the most important championships?
The betting houses show us the odds of each team to be champion before starting the season. The lower the odd, the more likely the team is to become champion. The fee is the number that tells us the probability of an event happening, of course, this always in favor of betting houses.
To know the probability, let’s use the odds offered by a betting house in the Santander League of the teams to become champion.
Divide 100 between the odd of the team you want to obtain. Let’s make the probability operation with Real Madrid and Barcelona; 42.55% and 57.14% respectively. If the same is done with all the equipment and the total probability is added, it gives us a result greater than 100%. This is how the bookmakers get an advantage over the bettors, and thus generate profits.
We will use some equipment as an example to explain how much money can be earned. Again let’s take the same table, to determine the possible win of the bet. Multiply the amount you want to bet on the odds offered by the betting house. Next, an example;
We have a bank of $100.00, choose any team and multiply it by the fee on one side. If you think that Barcelona will achieve the championship, the maximum income would be $175.00 by multiplying $100.00 by 1.75, obtaining a profit of $75.00 minus the initial $100.00.
Otherwise, if you think that Real Madrid will get the championship of the Santander League, let me tell you that your winnings could be higher than if you bet on Barcelona. Let’s do the exercise again, multiply $100.00 for the fee, that is 2.35 Giving us as a maximum income a total of $235.00, obtaining a profit of $135.00 minus the initial $100.00.