Decimal odds
In Cyprus odds are shown in decimal form. The number tells you how much comes back in total for every €1, including your stake. With €10 on odds of 1.85, the return is €18.50 and the net profit €8.50, if the outcome happens. If it doesn’t, you lose the €10.
From odds to probability
Divide 1 by the odds. 1.85 corresponds to 1 ÷ 1.85 = 54.1%. That is the probability the operator is “pricing”, not the real probability of the outcome.
Why more than 100%
In a match priced 1.85 / 3.60 / 4.20, the probabilities are 54.1% + 27.8% + 23.8% = 105.6%. In reality the three outcomes can’t add up to more than 100%. The extra 5.6% is the margin the operator builds in: about 5.3% of every stake over time. The margin guide shows how to work it out.
What it means for you
A smaller margin means the operator keeps less, not that you will win. As the NBA’s information website points out, the odds don’t change however much you play, and luck still plays a part even when you know the sport. Betting is entertainment that costs money: set a deposit limit and a time limit before you start.
Frequently asked questions
Do higher odds mean a better bet?
No. Higher odds mean a lower priced probability. The operator’s margin is still in every selection.
Can I work out the real probability?
You can remove the margin to get an estimate, but nobody knows the true probability of a sporting event.
Why do odds differ between operators?
Each operator sets its own margin and adjusts its prices according to the bets it takes.