28. September 2020

How the Odds are Calculated in Bitcoin Sports Betting

If you want to learn about the world of betting to become a good professional, one of the first things you will have to learn is how to calculate the odds in Bitcoin sports betting. With this information it will be easier for you to analyze the sports events and you will have a plus of help when it comes to betting successfully.

You have to take into account that the calculation of the probabilities is linked to the world of betting. This means that bookmakers put different odds on different results taking into account the probabilities of things happening. That is, if something is very likely, their odds are very low, while if something is very unlikely, the odds are really high. Of course, anything can happen in the world of sport. All this means that odds and probability calculations always go together when calculating the odds of different sports bets.

As we are told by crypto sports wagering experts, the odds that we can find in the different bookmakers are only probabilities of results that they handle when a result occurs or not. These probabilities are translated into numerical form so that people can bet in exchange for a fee. So you understand me, if the probability of something ending up in a certain way is 50%, the odds would be 2.

From that point on, the probability can go up or down and consequently the odds will be one or the other. In the case that the probability is 75%, then the quota will be 1.33. That’s in theory, because the bookmakers always get a share of that percentage. This means that the actual odds we can access are always slightly lower. Depending on the percentage that the bookmaker takes away, the odds will be more or less high.

Tips for Bitcoin Sports Betting with the Odds

Now that we know how the odds are calculated, it’s time to give you some advice on how to make a bet with a high probability of success. You have to take into account that nobody is able to get 100% right, that is, to be a good professional you have to be clear that there is always the possibility of losing. If we learn to lose and learn from the mistakes we make, we will gradually gain confidence and consequently the success rate will be higher.

To avoid losing BTC due to lack of knowledge, before betting with real money or cryptocurrency I recommend you to make simulations with fictitious money. This way you can see if you are really good at this world or if you have to learn more things before betting with real money. The advantage of learning with fictitious money is that we can make bets without winning or losing and thus avoid the common mistakes of beginners. It is one thing to fail to bet at first without money than with real money, which can be a big problem for many people.

It has been shown that information is very important when analyzing a sporting event and consequently have more chances of winning. A person who bets a little crazy, is a person who has a high percentage of losing the bet made. He may win by chance, but sooner or later he will start losing money. To avoid this, information has to be our ally, just as it is important to be sure that we know the world of probabilities and can manage it in our interests.

In the world of roulette the probability of coming out red or black is always 50%, but in the world of sports things change a lot, because there are many variables that make the result can be one or the other. The factors that make a result can be one or the other and you have to take it into account when betting on a certain result.

Of course, it’s not the same to bet on a football match as it is to bet on a basketball match, tennis or a horse race. To succeed, information is paramount. It is true that you can lose the bet, but it is also true that the probability of success is much higher. Without information it is almost impossible to become a winner.

Luck is temporary, information is continuous.

Thanks to the information you will be able to examine the market and realize that sometimes there are quotas that are too high for the probability they offer according to your criteria. If you are able to detect them and think that the result is feasible, you may have a good chance of betting and winning a lot of money with this bet. This is what you can also learn on this page.

It’s true that these opportunities don’t always come, but that’s what you are there for, to examine the market and see what the best time is to place the bet. A clear example of this can be seen in the football matches in which a big team plays against a small one. At some point the small team may score a goal. That changes the market for quotas, making the big team have a higher quota. If you are clear that it was a mistake and you are able to come back from the game, it can be a good option to make a lot more money with the bet.

Of course, the information and odds can vary from the bookmaker to what you think. It is important to compare and always bet according to your criteria. If one day you fail to place a bet, don’t make the mistake of betting on the first thing you see to try and get your money back. Wait, find out about another event and then you will have a much higher chance of winning the bet and consequently recover some of the money you have lost with a failed bet. The important thing is not to win or lose a bet, but to make profits in the medium and long term to be sure of being a good bet.