How bookie profit from 1X2 odds?

First we calculate what could be termed as the bookmaker's profit indicator. It shows how much the bookmaker receives in stakes whenever he makes a payment of $1.

Home = [1]
Draw  = [X]
Away = [2]

If odds[1] is the odds for a home win, the payout from a $1 bet, then 1/odds[1] is the bookmakers price for a payout of $1 in case of a victory for the home team. The price for paying out $1 irrespective of the outcome of the outcome of the game (where you play all three outcomes) is thus:

Profit indicator = (1/odds [1]) + (1/odds [X]) + (1/odds [2])

Example:

In this case the profit indicator shows that the bookmaker receives a stake of $1.181 for every $1 paid out.  In another word, bookie earn $0.181 for every $1.00 stake.



 

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