House Edge Sports Betting
All games on the menus of legal sportsbooks feature lines that give the house an edge. No sports bet works out as an even money proposition on both sides.
The house edge allows the sportsbook to make money in the long term, no matter what actually happens on the field. Some games offer odds that favor the house more than others.
The Edge Table calculates the house edge for upcoming games across the top legal online sportsbooks. The Edge Table displays which sportsbook takes the lowest edge on each game, allowing bettors to evaluate which book presents the most player-friendly odds.
Consider the house advantage. For most gambling games, bettors make their wagers at a statistical disadvantage to the house. This mathematical dominance is known as the house edge or house advantage. Though it is possible to be a long-term winner in sports betting. The House Edge is a term used to describe the mathematical advantage that the gambling game, and therefore the commercial gambling venue, has over you as you play over time. This advantage results.
Sports Betting Edge Table
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Calculating The House Edge
You can calculate the house edge on a particular game by converting the odds on both sides into implied probability. The favored team’s implied win probability percentage minus the underdog’s implied probability yields the edge built into a bet by the sportsbook.
Implied Probability Calculation For Negative American Odds
Suppose the line on an upcoming Kansas City Chiefs game looks like this:
| Team | Moneyline |
|---|---|
| Kansas City Chiefs | -323 |
| Miami Dolphins | +275 |
To calculate the implied probability of the Chiefs winning, you have to put the payout odds into the implied probability for negative American odds formula:
Implied Probability = (-1*(Odds))/(-1(Odds) + 100)
Putting the Chiefs’ (-323) moneyline odds into this equation yields the following result:
(-1*(-323))/(-1(-323)+100)
That equation solves to 323/423, which converts to 76.36% (rounded up). The (-323) odds on Kansas City converts to a 76.36% implied probability of winning.
Implied Probability Calculation For Positive American Odds
To calculate the Dolphins implied probability at (+275) moneyline odds, take a look at the implied probability for positive American odds formula:
Implied Probability = 100/(Odds + 100)
Putting Miami’s (+275) line into this formula yields the following:
100/(275 + 100)
That equation converts to 26.67% as the implied winning probability for the Dolphins.
Using Implied Probabilities To Determine The House Edge
Now that you’ve converted the moneyline odds on both sides of the bet into implied probabilities, you can calculate the house’s built-in edge on the Kansas City-Miami NFL game.
To accomplish this, we add both implied probabilities together and subtract (1). Before we put the implied probabilities into the equation, we convert the percentages to decimal format:
House Edge Sports Betting Expert
(0.7636 + 0.2667) – 1
Which converts to:
1.303 – 1 = 0.303
The house edge on the Chiefs-Dolphins game in 0.303, or 3.03%.
Check out the latest Super Bowl Odds and How To Bet On The NFL.
Belarus continues on with football despite COVID-19 outbreak
For many football fans, the ending of leagues early has become something they are likely going to have to accept. But for many fans, the loss of games has meant a loss of personal time and enjoyment. And while that pales in comparison to what is happening the world over, some leagues have not stopped. And this has led to some of the smallest football leagues in Europe gaining much more interesting followings than many would have assumed.
A fine example of this comes from the Belarus Premier League. The top flight in Belarus has gained many new admirers, with fans who are desperate for some football to watch tuning in to watch the BPL. With the nations president Alexander Lukashenko unwilling to shut down the league and much of the country, it has become in many ways ‘the only show in town’.
That’s why so many fans today in Belarus are happy to see their league finally get some kind of recognition. For years, the league has been derided as one lacking quality – but that looks set to change. Clubs like Dynamo Brest and BATE Borisov might be regular names in European competition, but now they are becoming household names for fans who would normally never give their league a second glance.
House Advantage Sports Betting
This is a fine example of how something we are so used to – something like football – becomes so routine. Without our own teams to play in or teams to watch, people are getting their fix in any many ways. From watching classic old games to switching on to the game in Belarus, this just goes to show how football-hungry the whole world is.
House Edge Sports Betting
If we can see thousands of people signing up to watch the Belarusian league, it just goes to show how many people let football become such a focal part of their lives.