How does this work:
Somebody told me this: if the bookie gives an odd of 1.70 for the Home team to win they suspect the probability is 1/1.70= 59%
Is this correct?
If it is correct, why do for example the odds on Groningen - Excelsior show a percentage above 100%:
1.25 - 5.00 - 9.00 = 80% - 20% - 11% = 111%
How do you use this information?
What does it tell you?
How does this work for example in under/over and double chance?
Because the odds are for example in NEC - Twente for under/over 1.95 - 1.75...together around 108%
It looks to me that the first thing I said in this post isn't true...but it also sounds logical.
Can somebody explain it to me? Thanks in advance.
Somebody told me this: if the bookie gives an odd of 1.70 for the Home team to win they suspect the probability is 1/1.70= 59%
Is this correct?
If it is correct, why do for example the odds on Groningen - Excelsior show a percentage above 100%:
1.25 - 5.00 - 9.00 = 80% - 20% - 11% = 111%
How do you use this information?
What does it tell you?
How does this work for example in under/over and double chance?
Because the odds are for example in NEC - Twente for under/over 1.95 - 1.75...together around 108%
It looks to me that the first thing I said in this post isn't true...but it also sounds logical.
Can somebody explain it to me? Thanks in advance.
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