"Betting arbitrage or sports
arbitraging is a particular case of arbitrage arising on betting markets due to either bookmakers'
different opinions on event outcomes or plain errors. By placing one bet per each outcome with different betting companies,
the bettor can make a profit."
"In probability theory and statistics
the odds in favour of an event or a proposition are the quantity p / (1 − p) , where p is the probability of the event or
proposition."
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Wizard Of Odds
Arbitrage Calculator
Guide: Let's say one bookmaker offers tennis player a winning odds of 1.90 (=EU desimal, you can also enter 2/1 UK style and +150 US style odds -even mix them up) and other bookmaker offers this tennis player's opponent odds of 2.25. Now you enter 1.90 to the first input box of the tool and 2.25 to the next one. Press calculate and the tool tells you that you get sure profit 3.01% no matter which one of the players will win. It will also show you how to divide your total stake.
Cover Calculator
Guide: Helps you 'cover' your 1x2 bets. For example if you bet away win, you can calculate correct stake for a tie/draw to get your money back (like moneyline). Cover bet is usually a draw (x). You can enter EU/UK/US style odds. Result will be converted to EU decimal odds.
Odds Converter
Guide: Accepted input formats are EU decimal 1,90 and 1.90 UK fractional 5/4 US plus/minus +125 and -150 kind of odds. Max decimal odds = 101. *) When converting to UK fractional it will be rounded a bit.
