What is the payout in sports betting?
The payout is a key concept in sports betting. It is in fact the percentage of stakes redistributed by the sportsbook to players. To put it simply, it is the ratio between the sums collected by the sportsbook (the players’ bets) and what the winners receive in cash. We can simplify it even more: the payout is the amount that remains for players once the sports betting website has taken its margin!
All sportsbook operators must also try to make money. Sports bettors are trying to take more money from the sportsbook than the sportsbook will take from them… All of this is inherent. You will see that the apparent simplicity of this concept hides mechanisms and logic that are particularly important to understand in order to win.
The betting odds payout calculator allows you to input your stake & odds in American, Decimal, or Fractional formats to quickly calculate betting payouts.
If you would like to bet on basketball then you should read all the odds and predictions to keep yourself up updated.
Be sure to find the best payout calculator that will help you place the best bet.
How to calculate the sports betting payout on an event?
Before even knowing on which bets we will find a high payout, it is necessary to know how to calculate the betting payout of an event.
The calculation is quite simple. Take the example of a 3-way spread bet (3 possible outcomes) where you want to know the payout rate. Here is the calculation:
Payout = 1 / (1 / odds 1 + 1 / odds 2 + 1 / odds 3) x 100
But this kind of calculation is not practical to do by hand, especially when you have to place a bet quickly.
To find out what are the best online sports betting payouts, you should use a sports betting payout calculator. This is in fact a calculator specially created to calculate the payout rate! You will find online calculators for predictions with 3 outcomes (classic 3-way spread bets, for example) or calculators dedicated to predictions with 2 outcomes (over / under, DNB – draw no bet, BTTS – both teams to score, etc.). Just enter the odds of the bet in question and the result will appear.
Payout Rate: the classic 3-way spread is generally the most profitable bet.
With these calculators, you will quickly realize that classic 3-way spread bets (team A wins, draw or team B wins) have a higher payout rate than the others.
Let’s look, for example, at this match:
Bournemouth – Tottenham (Premier League)
Here are the odds offered on 3-way spread:
An excellent payout rate of 90%!
Now let’s take another game, where a favorite clearly stands out.
Bournemouth – Atalanta (Serie A)
Player Return Rate calculated on this match? 92.54%!
This means that, out of $ 100 bet by the players, $ 92.54 will be returned to them in winnings.
What types of bets have much lower payouts?
Let’s take this Belarusian championship match Shakthyor Soligorsk – Gorodeya:
The payout on the classic 3-way spread bet is excellent: 97.42%!
But let’s look at the other types of bets offered. Each time, we suggest you calculate the payout rate.
Both teams to score payout
86.82%. Their payout rate dropped, but it’s still a good one.
Payout from over / under 2.5 goals odds
Payout Rate: 86.94%. We are almost at the level of the previous bet.
Payout from half-time result odds
The payout rate drops further to 83.06%.
You will understand that exotic bets see their payout drop below the 82/83% mark. We are then very far from the initial payout rate, on the 3-way spread of the match, which stood at 97.42.
Let us add that the match in question still benefits from good odds, therefore, from a very honorable payout rate. It will not be uncommon to find over / under or BTTS payout rates below 80%.
Why should you use the payout rate to choose your bets well?
The scope of the sports betting is to make money. To achieve this, you must not only make good predictions, but also benefit from the highest odds. However, by calculating the payout rate, you make sure that the odds offered by the sportsbook are not too disadvantageous for you.
If you are interested in a bet, but the payout rate is only 78%, you will simply bet on lower odds. Your routine should therefore be this: look for the higher odds because the payout is also higher. If this is not the case, it is up to you to make the decision: are you ready to bet on this type of bet, even if the sportsbook only pays a small part of the sums wagered on it?
You could try to place two types of bets:
- Handicap basketball bets
- Markers – points, assists, rebounds – always in basketball (NBA especially)
Handicap basketball bets often have a low payout. So, always make the effort to find the best odds, in order to benefit from a slightly higher payout. But that is not enough to reach 85 or 90%. Do not stop placing this type of bet. And keep in mind that you will have to achieve a high success rate to reap the benefits. It would not necessarily be the case if you bet on 3-way spreads for soccer matches, where the payout is higher.
Let’s move on to the second bet type: NBA scorers.
Will Player A have more than 5 rebounds? YES: 1.80 | NO: 1.80
What is this bet payout rate? 90%!
This rate can even reach 91.50%, but 90% is already excellent.
The payout rate is part of the sportsbook operator’s strategy
Finally, remember that you are not the only one to observe the payout rate: it is above all a percentage strictly calculated by the sportsbook operator. So is the house edge! The payout rate, therefore, always meets sportsbook operator’s strategic needs.
In addition to the welcome bonus or the playful image they wish to convey, sportsbook operators need to offer attractive odds. It’s their showcase!
At some very popular meetings, they have to put out the entire package. A Ligue 1 match and a Champions League one, for instance, are first-rate entry points for sports betting operators. Moreover, sports betting sites do not hesitate to set up special welcome (and first deposit) bonuses for their games with large audiences.
On these very attended and therefore very bankable encounters, the bookmakers will offer a payout rate of choice on the 3-way spread, because it is the first line that the new bettor will contemplate. Are the payout rates much lower on other bets? So much the better for the sportsbooks, too bad for bettors! Gaming operators will do their bit on these bets; they know very well that new players or novice sports bettors do not know the payout rate, and that they are far from trying to calculate it…
Fortunately, by reading these lines, you are no longer a gambler blinded by winning and eager to win quickly: you are therefore no longer in the group of those who will be plucked after only a few bets.
As a sports bettor, the sports betting payout rate will help you identify value bets, that is, sports bets where you believe the odds are higher than the probability that this result occurs.
An example of a valuebet: a meeting between a favorite and a team that moves without its best elements. In your opinion, the favorite should have the odds 1.20, 1.25 maximum. The bookmaker offers you 1.38. It’s a value bet!
IN CONCLUSION: THE PAYOUT RATE IS THE SINEWS OF WAR
With sports betting, you can really take advantage of the best odds and valuebets, which is not the case with other gambling options. For example, for scratch games the payout rate is generally between 63% and 70%. Your chances of making a profit are very low.
If you are good at sports predictions, it is up to you not to be tricked and use the sports betting payout rate calculator. You will thus maximize your chances of finding and betting on value bets, and thus win in the long term.
If you decide to use a sports betting payout rate calculator, your betting experience will be easier and you will anjoy it more.