Why do Odd-Even games on Soccer have odds so less than 1.98x ?

erpbridge

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Quote from: ralle14 on December 24, 2016, 04:40:32 AM

Quote from: erpbridge on December 23, 2016, 02:25:32 PM

I was looking at the odds on some soccer games and the odds I see for odd and even are way too less than 1.98. Since one of the 2 possibilities will happen shouldn't the odds atleast for one of them be atleast 1.98 ?

Right now on one of the soccer bets I have opened, I see odds of 1.78 and 1.9. Isn't this a much bigger house edge than betting on dice instead ?

Yes thats a bigger house edge indeed if I were you I would stay away from those kind of lines and look for much higher lines on other bookies. I mostly see this kind of odds on sportsbet.io when i'm watching their live lines on the nba odd is at 1.82 and even is at 1.9. Using the vig calculator with those kind of odds the house edge is set at 8.10%.

That is what my question is. I read what ajaxmoor said about statistics and all, but despite all that, I don't understand why would someone want to bet on sports at 50% odds when they get so much lower house edge on other gambling sites.

ajaxmoor

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Quote from: shanem on December 28, 2016, 07:39:53 AM

Quote from: ajaxmoor on December 23, 2016, 02:41:55 PM

Typically this happens only because gamblers can do a statistical research on the number of goals scored in the past. Say for example a team has games where they have solid defence and weak offence, and typically end at 0-0. This way most of their games will be even. So even though in this case the odds of even will be lower than betting on odd, but casinos can't always be certain of just those odds. There can be a statistical advantage which can be taken and hence they have to have a higher house edge in such cases.

The house edge for odd/even in sports game are more because it is possible to control the result in a " fixed " game and bookmakers stand to lose lots of money if that happens. To accommodate the higher risk of losing money, bookmakers will set the lower odds for both sides with a higher house edge for themselves. The highest edge can give the bookmakers a buffer in case a game is " fixed ".

Even if the game is fixed, then how would even 1.91x vs 1.98x make any big difference to them ? Wouldn't their loss still be way too big. ?

shanem

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Quote from: ajaxmoor on December 23, 2016, 02:41:55 PM

Typically this happens only because gamblers can do a statistical research on the number of goals scored in the past. Say for example a team has games where they have solid defence and weak offence, and typically end at 0-0. This way most of their games will be even. So even though in this case the odds of even will be lower than betting on odd, but casinos can't always be certain of just those odds. There can be a statistical advantage which can be taken and hence they have to have a higher house edge in such cases.

The house edge for odd/even in sports game are more because it is possible to control the result in a " fixed " game and bookmakers stand to lose lots of money if that happens. To accommodate the higher risk of losing money, bookmakers will set the lower odds for both sides with a higher house edge for themselves. The highest edge can give the bookmakers a buffer in case a game is " fixed ".

crazybtrade

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Quote from: erpbridge on December 23, 2016, 02:25:32 PM

I was looking at the odds on some soccer games and the odds I see for odd and even are way too less than 1.98. Since one of the 2 possibilities will happen shouldn't the odds atleast for one of them be atleast 1.98 ?

Right now on one of the soccer bets I have opened, I see odds of 1.78 and 1.9. Isn't this a much bigger house edge than betting on dice instead ?

You can try our game ODD-EVEN 1.98. House edge 1%.
This is only odd-even game, not soccer game

See my signature, please

Patatas

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Quote from: erpbridge on December 23, 2016, 02:25:32 PM

I was looking at the odds on some soccer games and the odds I see for odd and even are way too less than 1.98. Since one of the 2 possibilities will happen shouldn't the odds atleast for one of them be atleast 1.98 ?

No that is way too good! How do you think bookies will make money ? The odds are dynamic,per action in the game reflects every digit.

Quote from: erpbridge on December 23, 2016, 02:25:32 PM

Right now on one of the soccer bets I have opened, I see odds of 1.78 and 1.9. Isn't this a much bigger house edge than betting on dice instead ?

As stated,it's dynamic,those numbers might change in a few seconds if an event occurs,a goal for example unless you choose to bet at that point of time with fixed odds.

ralle14

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Quote from: erpbridge on December 23, 2016, 02:25:32 PM

I was looking at the odds on some soccer games and the odds I see for odd and even are way too less than 1.98. Since one of the 2 possibilities will happen shouldn't the odds atleast for one of them be atleast 1.98 ?

Right now on one of the soccer bets I have opened, I see odds of 1.78 and 1.9. Isn't this a much bigger house edge than betting on dice instead ?

Yes thats a bigger house edge indeed if I were you I would stay away from those kind of lines and look for much higher lines on other bookies. I mostly see this kind of odds on sportsbet.io when i'm watching their live lines on the nba odd is at 1.82 and even is at 1.9. Using the vig calculator with those kind of odds the house edge is set at 8.10%.

ajaxmoor

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Typically this happens only because gamblers can do a statistical research on the number of goals scored in the past. Say for example a team has games where they have solid defence and weak offence, and typically end at 0-0. This way most of their games will be even. So even though in this case the odds of even will be lower than betting on odd, but casinos can't always be certain of just those odds. There can be a statistical advantage which can be taken and hence they have to have a higher house edge in such cases.

erpbridge

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I was looking at the odds on some soccer games and the odds I see for odd and even are way too less than 1.98. Since one of the 2 possibilities will happen shouldn't the odds atleast for one of them be atleast 1.98 ?

Right now on one of the soccer bets I have opened, I see odds of 1.78 and 1.9. Isn't this a much bigger house edge than betting on dice instead ?

Topic: Why do Odd-Even games on Soccer have odds so less than 1.98x ? (Read 359 times)