- Odds boosts explained
- Odds boosts explained: The most common odds boost promos you’ll get at sportsbooks
- How sportsbooks manage their odds boosts promotions
- Understand and apply Implied Probability
- Find odds that are reliable
- The best data for probability estimation
- Convert odds to probability
- Remove the vig
- Conclusion: Why did we do all of this? Let us explain:
- Odds boosts explained FAQ
Odds boosts explained
The easiest or most basic way to understand high odds betting is to compare it to a sale or discounted price on an item you consider purchasing.
In sports betting, the sportsbook offers you specific bets at longer odds for a limited time which is a form of discounted wagering opportunity. The boosted odds offered by different sportsbooks can come in many forms and different wagering types, so make sure to make a comparison and decide on the best boosted odds promos from a trusted sportsbook by looking at the variety or boosted odds deals that different sportsbooks have to offer.
If you make intelligent choices when selecting your increased odds deal, boosted odds will mean less risk for the same reward or even the same risk for a bigger reward, depending on how you like to see it. In some situations, sportsbooks boost the odds of specific matches by just removing the vig from that betting line, meaning that you can skip this step later on.
Although a lot can be done strategically with boosted odds, these promotions are also an excellent way for customers who are new to the game of sports betting to get a feel for different wagering types and experience betting at boosted odds. One boosted odds promo will not fill your bank account, but it adds essential value to your betting endeavors. When looking at the range wherein odds are usually boosted, the profit of a successful bet can increase between 10% up to 40%, which is a very attractive notion. In some cases, if you get it right, you can even double your profits; however, there are role-playing factors like the additional rules put in place by bookmakers.
Odds boosts explained: The most common odds boost promos you’ll get at sportsbooks
There are several different types of odds boosts, but each one has the same primary function, which is to boost your bet payout potentially. Here are a few types of odds boosts you can keep an eye out for:
- Daily odds boosts: These are usually not spectacular as they are offered on a daily basis. However, they are still worth looking at and definitely still have a boosted profit potential.
- Sportsbooks can offer season-long odd boosts to remove the vig from a specific bet type like spreads during the whole season.
- When it’s special events like NBA playoffs or a massive event like the Superbowl, keep your eyes peeled for explosive odds boost promotions.
How sportsbooks manage their odds boosts promotions
- Because an odds boost automatically favors the bettor, sportsbooks sometimes apply wagering limits to the best odds boost for the US that prevents bettors from making astronomical bets and, subsequently, a substantial profit from a single bet.
- Another clever tactic employed by sportsbooks is to change the point spread, so there is an increased likelihood of the underdog winning instead of the favorite. It takes a trained eye to spot this, and although it won’t change your payout, it challenges you to notice that you’ll now have an advantage if you bet against the favorite.
- When it comes to a parlay or money line bet, it’s vital to understand that the odds boost in these cases won’t focus on giving you a better chance of winning. Instead, it elevates your payout if you win the bet.
Don’t you just love it if you can get something extra for free? Well, when it comes to sports betting and odds boosts, it’s not only about the “discount” or the odds boost itself but also about shopping for quality.
Understand and apply Implied Probability
- Look for quality and get the best odds boosts today by looking at the whole deal with all of its wagering requirements before you deposit anything, and also remember that odds boosts, especially those lucrative ones, will not be available forever.
- Thus, keep your eye on the expiration date if you’re interested in a specific odds boost promo, and make sure you make your move before it’s not available anymore. If you have sufficient knowledge, you will be able to apply your gut feeling as a special extra, so let’s take a look at how you can make good choices when looking for good odds boosts deals.
- If you think about it, the probability of anything happening in real life should add up to exactly 100%. This means the probability of it not happening plus the probability of it happening should add up to 100% because something’s going to happen whichever way. However, when it comes to sports betting, the sportsbook gets its edge by offering odds that exceed 100%.
Find odds that are reliable
What are reliable odds? In this case, it is the true odds of a game, which means that it is shown with the vig removed. If you have the original odds, vig, and boost separated, you’ll gain a better perspective of the promotion’s value. The reason for this is that the odds you’re looking for depend on the added boost.
The best data for probability estimation
Finding the information you need may not be as simple as some sportsbooks do not freely offer it. Finding reliable odds means that you need to look at a betting track record that contains data about wagers placed before an event and that is unchangeable after the results. This ensures authenticity.
Because this information is not only essential to find reliable odds but also not the easiest to get your hands on, you’ll also be able to cross several potential sports betting sites off your list. After finding an operator with authentic betting records, you need to look at the bettor’s position in the betting market. Does the sportsbook have an advantage?
A great way to establish this is by looking at stats, including ROI (return on investment) all-time return, and you can also look at the edge over closing odds, which can affect the overall value of an odds boost promotion. Make sure that this data has a long track record for the most accurate conclusion.
Convert odds to probability
Next, we convert the odds to probability. To convert from a probability to odds, divide the probability by one minus that probability. Suppose you want to make sure your calculations are correct, and you don’t want to waste any time figuring out the formula yourself. In that case, you can also use an odds probability calculator, which is really user-friendly and super-accurate.
Remove the vig
If you think back to the initial steps, we separated the vig from the odds in order to get a clear perspective of the quality of the odds. Now, we can remove the vig altogether to establish the probability of an event happening like the outcome of a match. Other names for vig or vigorish include juice, under-juice, the take, the cut, the margin, and the house edge. The vig is a fee charged by a sportsbook or bookmaker for accepting a gambler’s wager.
The reason why it’s essential to remove the vig is to come as close to the actual probability number as possible. The process for removing the vig varies depending on the wager (as you know, boosted odds can be applied to several different bet types), but here is the basic formula:
Convert the odds to probabilities. As mentioned previously, you can do this using a probability calculator, which makes things a lot easier. Then, all you need to do is divide each team’s odds by the sum of the probabilities. Done!
Conclusion: Why did we do all of this? Let us explain:
A betting opportunity, specifically one with boosted odds, should be considered valuable if the assessment or calculation of the probability for an outcome is higher than the implied probability calculated and provided by the bookmaker. This is also why all the specific steps were followed meticulously in order to reach the most accurate result possible. If you don’t do this, the whole process can backfire and be futile.
It’s vital to keep in mind that the odds displayed by the sportsbook never reflect the actual probability of an event occurring or not occurring. If the odds had reflected the actual chances of success, the payoff on a winning bet would always be more. The reason for this is the vig added by the sportsbook in the displayed odds.
Odds boosts explained FAQ
An odds boost is a popular promotion offered by most sportsbooks today. To learn more about odds boosts, how they work and what you can do to let them work in your favor, take a look at our guides at TheGruelingTruth.com.
If you want to approach a promotion like an odds boost in a more rational and critical fashion, there are several components you need to take into account. Learn more about these and how to apply them by reading our guide on boosted odds.
The best answers for odds boosts explains are just a click away. There are some solid strategies you can follow to ensure that your odds boosts are not just a shot in the dark. We offer some expert advice, so join us on TheGruelingTruth.com.