Bookmaking Fundamentals - Maths & Profit
Bookmaking is a fascinating field of pure probability gaming. No wonder I had to explore its math fundamentals sooner or later. ‘Bookmaking Maths Explained Or In Greed We Trust’ is a highly recommended lecture for everyone, especially if you haven’t come across terms like margin or adjusted odds. Preparation of this article was an eye-opener for me as well. Betting oriented on profit is no different to a war between the bookie and the gambler, where Sun-Tzu rules apply. To know your enemy, you must become your enemy.
Combined Bets – The Double-Edged Opportunity
A short follow-up math analysis of accumulated (also known as combo, multi, parlay...) bets. Profit evaluation, margin propagation, the impact of dependent events. Practical advice for casual gambler.
Bookmaking Maths Explained Or In Greed We Trust
A math guide to the fundamentals of bookmaking. Odds and probabilities. Expected profit. How to compute margin. Assymetric odds and how to beat a bookie thanks to their own greed.