Betting
Betting runs on arithmetic bookmakers publish daily.
Every price a bookmaker posts contains its own audit: the implied probability, the margin, and the cost of every product built on top. These pages derive all of it from the odds themselves, so every figure can be recomputed on any market you look at.
Odds and implied probability
The implied probability of any bet is 1 divided by its decimal odds. Convert every price into that form and every bet, in any format, becomes comparable.
Odds and implied probabilityThe bookmaker's margin
Convert each outcome's odds to implied probability and add them up: the amount above 100% is the bookmaker's margin, the betting equivalent of the house edge.
The bookmaker's marginAccumulators
Each leg of an accumulator carries the full margin of its market, and margins compound: five legs priced with a 5% margin each cost about 22% in combined margin, several times the cost of a single bet.
AccumulatorsCash out
A cash-out offer is the fair live value of your bet minus a margin. Accepting it systematically means paying the bookmaker's cut twice on the same stake, once at the bet and once at the exit.
Cash out
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Responsible gambling