Betting Odds Explained | Sports Betting 101
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- Опубліковано 26 вер 2024
- 👋🏻 Hey guys! In today's video, I explain how betting odds work. This video goes over the maths behind betting odds and covers American, Decimal and Fractional odds. Then I explain how to convert odds to probabilities and how to use a betting exchange to find the fair odds. Overall, this is a great getting started guide for beginners or a sports betting odds 101.
🏆 🏆 For those looking to learn more about the specific strategies I used myself to make over $50000 profit from bookmakers using profitable betting strategies, then you can check out my sports betting course over on my website at:
AUS/NZ: shanehuang.com...
USA/Canada: arbitragecamp....
If you enjoy this video and want to see more about mathematical sports betting, money or university life, please leave a comment down below saying what you would like to see next and any new video ideas are always appreciated!
🙋🏻 Who am I?
My name is Shane and I am an Australian Engineering and Commerce graduate from The University of Sydney and will be becoming a full time quantitative trader soon. This channel is dedicated to mathematics, arbitrage sports betting, and personal finance. I hope you can find this useful! Enjoy!
Website: shanehuang.com...
Instagram: / shanehuang88
Free Betting Discord Group: / discord
✌️ Remember to SUBSCRIBE! See you in the next one! / shanehuang88
⚠️ DISCLAIMER: This video is not gambling/ investment advice - while the strategies and math I teach and the tools recommended will provide an advantage, there is still user error and luck involved when it comes to betting which can lead to losses. These videos are for educational purposes only and I am not guaranteeing any gains or losses from using the betting methods I talk about.
🏆 🏆 For those who do want to learn the trade and make money betting yourselves (like a pro trader), then you can check out my 5 - part sports betting course over on my website at:
Australia/NZ: shanehuang.com.au/course/
USA/Canada: arbitragecamp.com/usa-course/
anything for us UK people?
@@jonnyjai1314 There is if you still have your soft bookies accounts. Even better if you have lost money with them.
@@jonnyjai1314 certainly there are some something similar for the UK. 👉📥👈 👆🏿👆🏿👆🏿
@@-Shane_huang88 is there any email i can reach out to you?
Any thing for southest asia? Thanks for your videos
I am more confused than when I arrived.
😂😂
Same. This was not explained at a beginner level
Asian minds work different
Same
For a better explanation, buy the book "The Logic of Sports Betting". It goes over all of this and includes a lot of very popular myths about betting.
I used X2 to watch this and I like the fact I didn't understand it. Never bet before and scared to but desire to know how it works, yet scared to.
thank u for this. this is what i've been missing to understand
Never ever bet before:
I thought I could bet on Tyson / Paul next fight.
First video I watch about this subject, I'm totally new on this.
And I must say that it is not as simple as I first thought.
First wall is to be able to decipher odds: it is 100% not understandable at first sight.
im still finding it almost impossible to find arbitrage oppurtunities, seems like all the bookies are working in tandem with eachother
It is easier to find them in obscure leagues and sports.
gotta use software like oddsjam which scans through all odds and finds opportunities since there’s millions of odds and you’re extremely unlikely to find them manually
I have tried countless times to simulate different outcomes based on the bookies odds number using probability & realistic mathematical equations to predict successful outcomes with the favorites & UNDERDOGS, but it came to my conclusion that you have to bet to be prepared for every outcome not just bet to win you have to bet to lose…and that’s when the luck comes in…….or not haha
@@xevaded 👌
That is not true, there are countless sure bets everyday but the problem is the bookies. Do not bother, even if you find opportunities you will get limited by them. In other words you cannot make serious money with arbs.
Well explained! Keep making money betting!
No iron available for that shirt?
Cant afford to buy one
omg ahahahha like how can you even see that
😂
No manners available for that comment!?
he had to put (1) Iron in order to make $100 from a bet… best bookie odds ever!
WISPRED Sports Group, youre nailing it with your predictions! Im amazed at how match insights can lead to financial rewards. Lets keep the wins coming! ⚽️?
i knew you was a savage with it when i seen you didnt even iron your shirt lol
I didn't understand something, in American odds we have +333 which represent the profit you will make if you risk $100 but what about -125? it doesn't make sense because you will risk $125 to win $100 which will result in total payout of $225, and that doesn't match the decimal result which says that if you risk $100 you will get $80 in profit which result in a total payout of $180 !!! any explanation ???
I just came across this video and was thinking the same thing. I've gone on several odds conversion payouts calculators and am feeling like an idiot or something is wrong. The payout should be 1.90.
You are not risking 125 though, therefore you are not winning 100. You are risking 100 and winning 80 (since 80 x 1.25 equals 100 or if you rearrange the equation 100 / 1.25 = 80).
Simply put to calculate what you will win: +333 means multiply your bet by 3.33 and -125 means divide your bet by 1.25. Then, the return is this number + your original bet back of course. So 433 in the former and 180 in the latter.
I actually came here to see how to convert a American odd to a percent
When you find a good deal, watch out. You are getting a good mathematical deal for a reason. Sports games are fixed. Therefore you should find bad deals and bet on them. These bookies and casinos are not stupid. When the worst team is a favorite, you should bet it. You should bet against the money. Games are fixed in many different ways. Baseball is fixed largely by the home plate umpire. Even one strike call on a bad pitch can make a huge difference. The Giants beat the Padres 7-4 on a homer by Yastrzemski. He hit it on a 3-1 pitch. I’m willing to bet that he doesn’t hit it on a 2-2 pitch. I understand that you can make money finding games that are offered at a huge variety of odds by betting the underdog at huge odds at one site, and betting the favorite at any other site that’s favored by the least amount. Sure you can win slowly that way regardless of the outcome. But it’s human nature to be greedy. The casinos are greedy. If they can intone the public to bet more heavily one one side, they will call it in and make that side lose. So if you can read into them, you can absolutely destroy them for a huge percentage overall.
@luckyjet666 that’s why you bet against the money
Show your overall profit then boss. But I do agree with your sentiment somewhat, for example the odds boost plays that seem like they are so free, however rarely hit…
@@shxco4176 my brother has beaten the race track by betting on what looks to be bad bets to the public. He losses more often than he wins, but his wins more than makes up for his losses in the long run. I’ve gone with him several times to see that almost all his horses seem to be always close to winning. This is why he hits many exactas and trifectas. The race track takes nearly 20% of the money, so he should not even be close to winning in the long run. My point is that these sports games and races are fixed. So the way to beat them is to read into it and get into the minds of those who know ahead of time which side is winning.
@@emmanuelvacakis4463 Bullshit simple and raw. There is only a very small percentage of races and matches that are fixed. 99% of them are random with their own implied probabilities. There are only 2 ways for someone to make sports betting profitable. Number 1 is work hard test and create math models to give you accurate fair odds and bet only on value odds. Number 2 is courtsiding but you need access to Betfair exchange and a guy in the stadium to gain 2-3 seconds edge and trade the market with large sums. Secong way is much easier but you need connections to make it happen.
Brother can you explain about football betting...how can we win if we can understand the odds?
Well explained, great job
thanks for this helpful video explaining odds
Searched “betting odds explained.” A video with a pretty blond appeared 1st. Shane’s video appeared 2nd. Obviously I clicked on Shane. Call it a hunch.
Bet with your head not your heart!
Sorry for my ignorance, but if the bookmaker price is the price shown in the platform, how do you know the fair price? Just through specific Betting Exchange platforms?
Great video brother ❤❤❤
Well explained, great job 🔥
Glad you liked it!
hi is there any time difference in online roulette (evolutionary gaming) between 2 countries
great! thanks for your explanation
decimal odds are the easiest to look at imo
Yea agreed
yeah i still dont understabd american
What are the odds of him not having an iron
100%!
thanks I have learned alot
Is there any way to beat the bookies with their own odds? Calculating true odds using only their probability?
That doesnt make sense. How can you calculate true odds based on one set of odds. +EV Odds are calculated by taking the odds from a bunch of very sharp bookies and comparing them to soft bookies. You cant know the true odds by just looking at soft bookie odds, because soft bookie odds are by default not true
@@MrKrustenyou got a great point but there are trends and tells within the sports book lines for some dfs that give you tips on who to pick to win
The bookie is just an intermediary. This is like saying, is there a way to beat the broker. He’s just there to get you shares. It’s a service and you have to pay the toll. Now, with online sports betting, the overhead is lower so you have less bookie(broker) costs. Like how robinhood changed investing. Anyway. Stop gambling
Why is there so little focus on actually spotting trend in the game/teams? When you start out searching for a pay less to the bookie "strategy" instead of knowing what is happening in the games, it won't work. The assumption is that you are only going to get 50% of your bets (big money)right so focus on the small money?!
bruv all the knowledge you could possibly gain by doing research is priced in. as he said at the end f the video, the only winning strategy is to collect bonuses or other promotions
In Africa so far so good we don't risks alot of money instead we add lots of team in one slip maybe 15 team less stake the strategy always works. Betting is easy money in Africa
Example?
What is minus in both teams
Wait guys the betshare where can I get that comparison I like it
Garcia Timothy Jackson Elizabeth Jackson Scott
great explanation
Great video! What editor do you use?
Create and Elate 🎉
হি
hi
What does it mean in American Odds if both numbers are negative?
For example, tomorrow 03/07/24 the Celtics play the Nuggets and Jaylen Brown's points line currently says Over 21.5 -120 / Under 21.5 -110 on DraftKings.
How would both lines be favorites? Does this imply that he's a favorite to go over 21.5 but a better favorite to go under 21.5?
I left even more confused 😂
What if i bet on over/under Goals
Example: Liverpool vs West ham
Over 1.5 Goals @2.3
Since there is only 2 outcomes fair odds would be 2.0 correct?
So backing at 2.32 would be a value bet or am i wrong?
You are wrong! If it was that simple we all would live from betting, however only a very small percentage succeed.
If your example was true then yes that would be a value bet. But saying every market with 2 outcomes is decimal 2.00 fair odds is not correct. If you ever find 2.30 decimal in a Premier League match in over 1.5 market i suggest you to bet your whole life lol. It will never happen...
Over 1.5 mean 2 goals must be scored or above
@@aggelost3103 Live betting it does
before match odds is typical 1.25 for over 1.5 goals but why would you ever bet that when it's not a fair price?
so waiting for the halftime 0-0 and then odds should be above 2 which should be value now??
@@betbeast9372 Still not correct but thanks you remembered to reply to me after 1 year lol. If you do not have accurate model to calculate true odds per minute in a football game forget about profiting in the Exchanges.
Many guys are professionals in the Exchanges so ask yourself if you can do better than them.
The answer is no, so you need to learn much more to be able to profit in the markets. A good start is to pay for a value bet service and hit your soft bookies first.
But exchanges as i said is a very different story.
Can I buy your course even if I live in Italy? Or its specifically for us betting strategies?
Please do video on the mah used at a slightly slower rate.
For mentally handicapped can slow down youtube videos like .75 or .50 upper right corner if mobile app ⚙️
can someone explain the math on 3:56 i dont get it.
i got $5.04 instead of $5.01
i multiplied (55.6 x 1.8) - (52.8 x 1.8) = $5.04
i dont kno where $94.99 or $5.01 came from
Is it possible to use Oddsjam software in Asian country?
What does this young Man's Ethnicity have to do with his knowledge on the Subject??????
I don’t think this is for the beginner or should we need to take some math class in order to understand this
Nice on Shane
Hey Shane, is there a way to get in contact with you to shortly discuss an all-in-one arbitrage solution that was developed for betting community?
Please make a video on upcoming WIMBLEDON and chances of Arbitrage bets on this tournament
Forget about arbitrage, you will get limited by companies so do not waste your energy and time there, it does not worth it.
If you cannot make money in the exchange markets it is not worth you energy and effort.
@@aggelost3103 just stake with round figures don't use after decimal amount , you will never get restricted for sure 👍
professional sports betting strategies
watching this for my valheim arena im building on a my server with my friends lol
Good!
okay
Plot twist: 3.06 odds team won the match 😂😍
4.75
If you Predict the betting its still you cannot find who will gonna win. No man can understand what future lies ahead
I'ma just pick winners
Thompson Robert Brown Carol Robinson Anthony
Can you do a course on Europe/sweden betting?
hi is there any time difference in online roulette (evolutionary gaming) between 2 countries
sir where can we have arbitarge bet in website or apps???
3 different rickets
Africa In a disadvantage on your tools
Jackson David Taylor Karen Allen William
American odds are so confusing
play Bc game recover loss
200k subs girlfriend reveal? 🥳
Great video but this is just a basic maths, nothing new to learn here. Can you teach us how to get an actual profit ?
I learn my betting odds from an Asian
This person is a scammer . This thief took my 3 lakhs .......
Sach mein ?😱
@@SK-iw5cx Yes brother. I promise he scammed me .
Are you sure? 🤔
I still don’t fucking understand
E doesn't work dat way bruh.
Anyway kudos
Could you kindly say how "does" work?
I ask that because if someone is going to be quick to say how something "doesn't" work then they should be quick to follow it up with how it "does" work
iron your clothes brother
Shoutout to WISPRED Sports Group for their amazing predictions! Who knew enjoying matches could lead to financial success? Lets keep rocking! ??
Shane, your arbitrage betting videos are top-notch! You might enjoy what @FOREProtocol is bringing to the market betting space.
I used X2 to watch this and I like the fact I didn't understand it. Never bet before and scared to but desire to know how it works, yet scared to.
¥en 10,000.00 +/-🥂
I used X2 to watch this and I like the fact I didn't understand it. Never bet before and scared to but desire to know how it works, yet scared to.
I used X2 to watch this and I like the fact I didn't understand it. Never bet before and scared to but desire to know how it works, yet scared to.
I used X2 to watch this and I like the fact I didn't understand it. Never bet before and scared to but desire to know how it works, yet scared to.
what does it mean, if my parley ticket says .. pk or -3-110 or +300?
Thanks
Im glad i found this vid and realised how stupid i am ....thank you shane 😂
This man sounds super intelligent, and deep in the knowledge.
My worry is, often times this kind of people may not be able to translate knowledge into wealth for others.
How do I profit from what u know sir? Please reply.
If you want to make money, don't gamble
As the dude said, find prices that are lower than the odds and you've profited, theoretically.
Do this hundreds of thousands of times, and the variance is gone and you profit.
@@jumpsmcgeeIf you want money, dont invest, theres always a risk on it also dont save up money because you still lose some with inflation
When will your video on you vs papaya on the Ext2 HSC be out?
Someone needs some chap stick.
❤
Hi
WISPRED Sports Group, youre rocking the match prediction game! The financial gains through your insights are mind-blowing. Lets keep celebrating wins! ??
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