Pricing is a way of expressing the odds on a bet... that is, how much you will win if you bet (thus giving you an indication as to how likely it is that you could win).
Although there are other types of pricing, we are going to look at the most popular pricing systems: first the US pricing system and then the European version.
To understand the difference, we need to clarify some terminology that follows. Imagine that you're betting on the outcome of game. You put down an even money bet of $100 (which is matched by a $100 bet by the Bookie). Your team wins.
You get back $200 but you've only won $100. Notice the difference?
- You get back $200 (your stake plus the Bookie's bet).
- You won $100 (the Bookie's bet).
Recognizing this difference will help you understand the difference between two of the major pricing systems.
US Pricing System: In the US pricing system, they show you how much money you could win (that is, not including your bet) and it is expressed as a percentage... as if you bet $100 on every single bet.
European Pricing System: The European pricing system is also called the digital method of pricing and it is an increasingly popular method of stating a price. This is because it is potentially easier to use and it is becoming more widely accepted around the world.
Unlike the American system, which represents how much you'd win, the European system tells you how much you'd get back. That's a big difference in knowing how to read the systems.
And, rather than being expressed as a percentage, it is expressed in a "digital format"... that is, as a number greater than 1.0.
This has been an excerpt from Robert Thatcher's flagstaff manual, the Statistical Betting Guide [http://www.statisticalbettingguide.com/].
Sun Tzu said: "If you know the enemy and know yourself, your victory will not stand in doubt". Making money with sports betting has nothing to do with gambling. Do you want to learn the secret methods successful bettors apply each and every day?
Robert Thatcher explains in easy words how to make money with sports betting. Download your copy at [http://www.statisticalbettingguide.com/].
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