There are a number of concepts that are essential for sports betting. Words like chance assessment, validation
If you do not feel completely comfortable with these concepts, just calm down. When you finish this post it will be very clear.
How do you calculate your payback percentage?
You summarize (read: pluses) all the bets you have made. Then you sum up all your winnings.
If we assume that Peter averaged 100 dollars a day. put bets on the last 120 games, so he has a total bet of 12,000 kroner (100 x 120). In addition, let us assume that Peter has gains of NOK 12,900. Now we can calculate Peter’s repayment percentage (also called TBP) by saying 12,800 / 12,000 * 100 which given a TBP of 107.5.
Let’s summarize the method of calculation:
Payback percentage = [sum of bets] / [sum of winnings] x 100
What does TBP tell us and why is it important?
When talking about ROI in companies, it is about how much a return you get from your investments. How much money do I get each time I throw in for example 1 penny?
Sports bettors behave in many ways like small businesses, and in the same way as a business, need to know how much money they make from their efforts. Therefore, it is crucial that you know your TBP so you first and foremost know if you make money on your odds adventure.
A TBP below 100 would indicate that on average, money has been lost while a TBP over 100 indicates profits. If, for example, you have a TBP of 107.5, this means that, based on its previous games, you get DKK 107.5 each time you play 100 kroner, which of course indicates the profit of 7.5 kroner.
The big challenge
Few people know their true payback percentage.
It is only a small fraction of them in Sweden as odds that carry an odds account. Not everyone knows that unique accounting programs have made specific sports betting so that they can keep track of their betting economy.
Example of the overview you get in our free odds accounting:
The next big challenge is to play many games before one’s TBP becomes stable and
For example, our fictitious person Peter had only played 120 games, which is actually at the bottom to be able to say something with certainty about his performance and ability to make money at odds. Especially if Peter has distributed his games on handball, football, tennis, golf
3 Tips for optimizing your TBP
1. Use an account and find your weaknesses
When you use an accounting program like what we give away for free, it automatically calculates your TBP across sports,
If, for example, Peter, after 50 games on tennis and football, on the other hand, when he plays tennis, his TBP averages 110 while it is 90 when playing football, so he should probably stop playing football and use more time and energy on tennis games instead.
Find your strengths and weaknesses in your accounts.
Are you not accounting? Then just get started.
2. Use more bookmakers and find better odds
In addition, it can be a great idea to make use of several bookmakers. If you have made a chance assessment of 42% that Serene Williams loses to Caroline Wozniacki, then it is absolutely crucial whether you get odds 2.26 at Nordicbet, odds 2.33 at Unibet or 2.45 at 888sport.
If we calculate the evaluation then we find that at Nordicbet it is 95 (42 x 2.26), at Unibet it is 98 (42 x 2.33) and at 888sport it is 103 (42 x 2.45). Therefore, it only makes sense to play this game with one of the above 3 bookmakers in this fictional example – 888sport.
Optimize your TBP by using several bookmakers at the same time.
Our accounting program also supports a ‘funds overview’ that keeps track of how much
Hint: When choosing your bookmakers, use our overview and get the best bonuses in the process, for free.
3. Make more intelligent bets
The average player does not differentiate their game totals depending on whether they are playing on a home-based odds 3 odds or an odds away odds 4.
The fact is that all professional players differentiate their games depending on chance assessment, odds and the size of their gaming wealth.
Luckily we at Learnsportbetting have made it easy for you. We have developed an action calculator that calculates how much you should play