Sports Betting Functions For Excel

For the average citizen, this might be an especially valuable piece of information when deciding to open a savings account. Should you wish to start saving money for your child’s college tuition, for example, you’ll need to know how much money to deposit initially to reflect its future value. The following table shows current rates for savings accounts, interst bearing checking accounts, CDs, and money market accounts. Use the filters at the top to set your initial deposit amount and your selected products. Another common lay the draw exit strategy is to exit a trade at 2.00 around the minute mark in order to cut a loss.

Current And Historical Rates

The better an analyst understands his job, the bigger the potential profit margins for the bookmaker. In order to make long-term profits, a good understanding of odds calculation is therefore also essential for any bettor. The expected value is very important because it is a tool that allows us to predict future outcomes, such as the game show money winning we just went over. The formula for expected value for a set of numbers is the value of each number multiplied by the probability of each value occurring. This formula, in mathematical terms, is represented by ∑xp.

Fanduel Sportsbook

If you got a better number than what the line closed at, that would be considered a smart bet because you beat the closing line. In other words, it means you beat the market and got better odds, or a better price, than the closing price. In turn, if you end up betting a team at a worse number than what the line closed at, that would be considered a bad bet because you read the game wrong and the market beat you. One of the most common misconceptions in sports betting is that if a bet wins, it was a good bet.

Or in other words, the match to end with at most 3 sets played (under 3.5 sets) or the match to end with at least 4 sets played (over 3.5 sets). The most common of these are Set handicaps and Game handicaps. Lastly, let’s consider tournament winner odds and other tennis outright bets. Thanks to the likes of YouTube, one can find footage in seconds of pretty much any player on the tour, male or female. Watch both a service game and a return game of a player, and you can quickly asses what type of player they are; a big server, a serve-volleyer , a baseliner, a strong returner, big forehand or backhand etc.


In our example we assessed that Djokovic has a 75% chance of winning the match, while the bookmaker odds of 1.50 reflected a probability of 66.67%. It is a value bet for us because we believe the chances of Djokovic winning the match are greater than the probability represented by the bookmaker’s odds. Games handicaps work just the same as set handicaps, except that we focus only on the number of games won through a match.

If you calculate that Wigan has a 10% chance of winning, the EV for betting on a Wigan win jumps to $3.262. Well, you take advantage of overpriced odds that are higher than their true probability. Simply put, you will be placing bets that have a larger chance of winning than implied by their odds. Converts betting odds between US, decimal, fractional odds, percentage, Hong Kong, Indonesian and Malay formats. When you are given a sports betting tip or recommendation, ask the tipster or service in question what the Minimum Profitable Odds are for that tip. Both to make certain you are betting above that figure and to verify the tipster, you cannot calculate a profitable betting opportunity without calculating the Minimum Profitable Odds.

What Are The Odds Of Winning Poker?

That being said, people pay far more attention to teams at the top of their league than those at the bottom, and betting dollars inherently flow toward the top because of this. But that means that underdogs can sneak away extra value if bettors take the time to weigh their worth as the masses fawn over the heavy favorites. As mentioned earlier, books set their lines based on decades of experience and substantial financial and human capital resources. A sportsbook operator uses this vast intellectual and financial wealth to create a line that an average bettor cannot realistically replicate with nearly the same accuracy. For the vast majority of sports bettors, it’s just an educated guess, based on what they know and have seen over the course of a season. At its simplest, expected value in sports betting is a way to measure the probability gap between a bettor’s expectations — and the sportsbook’s.