Sure bets
"Sure Bets"
Sure Bets - a type of bet where all possible alternatives are purchased, under the condition that the total amount paid is less than the potential winnings. When betting on sure bets, the bettor takes no risk at all, as the bettor wins money regardless of the outcome.
1. Example - two possible outcomes (calculation example):
Let's say a baseball game is taking place between Boston and NY.
Let's assume the offered odds for a Boston win are 2.20, and for their opponent NY the odds are 1.90. We need to check if these odds constitute a sure bet. Sure bet calculations are performed using formula (2):
G = 1 / K(B) + 1 / K(N) (2)
K(B) - the odds offered for the first alternative, in this case, the odds for a Boston win.
K(N) - the odds offered for the second alternative, in this case, the odds for an NY win.
G - guarantee, an abstract value indicating whether there is a sure bet,
a) If G is less than one (1.00), then there is a sure bet,
b) If G is one or more, then there is no sure bet.
After calculating, G= 1/2.20 + 1/1.90, we see that G is 0.981
Since G is less than one, it is a sure bet.
Money distribution:
Now we need to distribute the money in such a way that there is a profit regardless of the outcome.
First, we determine the possible profit (3):
L = B / G (3)
L - expected profit,
B - the amount of money bet,
G - guarantee.
Let's say you have €100. This is your bankroll, denoted by the letter B in the formula, then you use formula (3) for the calculation.
L = 100 / 0.981 = 101.95 (betting one hundred euros you win €1.95 of 100% profit, absolutely without any risk)
The distribution of money for both teams is done using formulas (4) and (5):
S (B) = L / K(B) = 101.95 / 2.20 = €46.34, and the same with (4)
S (N) = L / K(N) = 101.95 / 1.90 = €53.66 (5)
So you bet €100, with €46.34 on a Boston win at odds of 2.20 and €53.66 on an NY win at odds of 1.90.
Regardless of which team wins, you receive €101.95 from the €100 you bet.
2. Example - 3 possible outcomes:
Let's say there is a soccer match where 3 alternatives are possible.
To determine if there is a sure bet, the calculation is done as follows:
G = 1 / K(1) + 1 / K(draw) + 1 / K(2) (6)
If G is less than one, it is a sure bet, and the money distribution is done as shown in the first example.
Sure Bets Calculator
Sure Bets - a type of bet where all possible alternatives are purchased, under the condition that the total amount paid is less than the potential winnings. When betting on sure bets, the bettor takes no risk at all, as the bettor wins money regardless of the outcome.
1. Example - two possible outcomes (calculation example):
Let's say a baseball game is taking place between Boston and NY.
Let's assume the offered odds for a Boston win are 2.20, and for their opponent NY the odds are 1.90. We need to check if these odds constitute a sure bet. Sure bet calculations are performed using formula (2):
G = 1 / K(B) + 1 / K(N) (2)
K(B) - the odds offered for the first alternative, in this case, the odds for a Boston win.
K(N) - the odds offered for the second alternative, in this case, the odds for an NY win.
G - guarantee, an abstract value indicating whether there is a sure bet,
a) If G is less than one (1.00), then there is a sure bet,
b) If G is one or more, then there is no sure bet.
After calculating, G= 1/2.20 + 1/1.90, we see that G is 0.981
Since G is less than one, it is a sure bet.
Money distribution:
Now we need to distribute the money in such a way that there is a profit regardless of the outcome.
First, we determine the possible profit (3):
L = B / G (3)
L - expected profit,
B - the amount of money bet,
G - guarantee.
Let's say you have €100. This is your bankroll, denoted by the letter B in the formula, then you use formula (3) for the calculation.
L = 100 / 0.981 = 101.95 (betting one hundred euros you win €1.95 of 100% profit, absolutely without any risk)
The distribution of money for both teams is done using formulas (4) and (5):
S (B) = L / K(B) = 101.95 / 2.20 = €46.34, and the same with (4)
S (N) = L / K(N) = 101.95 / 1.90 = €53.66 (5)
So you bet €100, with €46.34 on a Boston win at odds of 2.20 and €53.66 on an NY win at odds of 1.90.
Regardless of which team wins, you receive €101.95 from the €100 you bet.
2. Example - 3 possible outcomes:
Let's say there is a soccer match where 3 alternatives are possible.
To determine if there is a sure bet, the calculation is done as follows:
G = 1 / K(1) + 1 / K(draw) + 1 / K(2) (6)
If G is less than one, it is a sure bet, and the money distribution is done as shown in the first example.
Sure Bets Calculator