The mathematical aspect of betting is almost essential. Many bettors realise that it is unrealistic to beat bookmakers all the time by relying on their own hunches and intuition - you cannot do without a scientific approach. They say that mathematics and sports betting are closely related, and unless you follow some simple rules, many of which are fundamental to different strategies, you will never succeed.

In this material, we will explain how the mathematical approach can be applied to betting.

Mathematics in sports betting: what you need to know
To put mathematics in betting into perspective, let us introduce or reiterate some elementary terms.

The odds are a numerical representation of the probability of an event according to the bookmaker, taking into account the margin. The analytical department at the bookmaker's office studies the upcoming event and makes a prediction based on which the probabilities are calculated and later converted into the same multiplier.

The amount of the possible payout will be calculated according to the formula:

S = Bet * Odds

That is, a bet of $100 on an outcome with a multiplier of 1.8 will pay out $180.

To calculate the probability by taking into account the margin, divide the value of 100% by the odds themselves. 

The margin is the commission which the odds charged by the bookmaker for his services. It is an important source of income for the bookmaker. It is calculated by the following formula:

V = (1/K1 1/K2 ... 1/Kp - 1) X 100, where

n is the number of choices for one event and K1, K2, ... Kn are coefficients for every choice.

Now let's calculate the probability of the event occurrence without taking the margin into consideration with the help of an example. Let us take the WTA tennis match between Sofia Kenin and Anna-Lena Friedzam.

We get the following:

V = 100/1,375 100/3,32 = 102,85%

As the sum of the probabilities has to be 100%, this 2,85% is the margin of the BC. As you can easily see, the bettor's odds of success are inherently lower than the bookmaker's odds. Before you place your bets, you should go through betwinner registration and profile activation.