- The reality of the combined.
- Pros and cons of combined.
- The impact of the house margin (mathematical disadvantage) when multiplied.
- How to multiply the betting advantage with value.
- The concept of bets almost won.
- Practical tips.
As we have seen in the previous tutorial, Stake + profit = payout. But what is the Payout and how is it calculated?
The payout is the amount of money that is distributed among the winners of a bet, in terms of percentage and regardless of the outcome of the bet.
Payout vs Overround
The Overround is the percentage of commission that the bookmaker takes, while the payout is the percentage that is dedicated to paying winnings. As we have said before, whatever the outcome of the bet. The percentage of the payout varies depending on the 'Bookie' and the country where it operates. It is usually between 92% and 95%. Although in some cases, and this is frequent in houses that operate in Spain, it can reach 90%.
|96% – 97%||Excellent|
|95% – 96%||Very good|
|94% – 95%||Regular|
|Menor al 94%||Bad|
How is it calculated?
To calculate the payout, assuming they were combined, the following formula is used:
Payout = ((1/share 1) + (1/share 2) + (1/share 3)) x 100
Therefore, if we have a quota of 2.00 for local, 3.40 for draw and 3.75 for visitor, the payout would be the result of:
((1/2.00) + (1/3.40) + (1/3.75)) x 100 = 106,08%
That remaining percentage is the commission that the bookmaker takes, that is, the overround, which will have to be subtracted from 100 and determine the payout. In this case it would be 93.92%.