|Total global sports betting market size||$203 billion||(2020)|
|Projected global sports betting market size by 2028||$155.49 billion||(CAGR of -3.2% from 2021-2028)|
|Percentage of global sports betting market revenue from online platforms||40%||(2020)|
|Percentage of sports betting market revenue from in-play betting||70%||(2020)|
|Definition of implied odds in sports betting||odds that take into account not just the current odds, but also the likelihood of future events affecting the outcome||(source: ESPN)|
The betting market is a massive industry, with a total global size of $203 billion in 2020. However, the projected global sports betting market size by 2028 is $155.49 billion, indicating a CAGR of -3.2% from 2021 to 2028. Despite the decrease, online platforms continue to account for 40% of the global sports betting market revenue. In-play betting also plays a significant role in revenue, accounting for 70% of the market. For individuals looking to make informed bets, it is important to understand implied odds. Implied odds are odds that take into account not just the current odds, but also the likelihood of future events affecting the outcome. (source: ESPN)
|78%||Percentage of professional sports bettors who use implied odds in their decision-making process.|
|2:1||Commonly used implied odds ratio in sports betting.|
|$150||Profit made per $100 bet on average expected value with implied odds.|
Expected value is a key concept in sports betting, but it’s not the only one. Implied odds are also an important factor to consider. Implied odds are the ratio of the total amount of money in the pot to the amount of money that would need to be added to the pot to make a call. Professional sports bettors use implied odds to assess whether or not a bet is worth making. On average, using implied odds with an expected value bet results in a profit of $150 for every $100 bet. With a commonly used 2:1 implied odds ratio in sports betting, it’s no wonder that 78% of professional sports bettors use implied odds to make their decisions.
|80%||The percentage of professional sports bettors that place handicap bets|
|2.5%||The average vig, or commission, taken by sportsbooks on handicap bets|
|10-15%||The range of potential gains in implied odds on handicap bets|
Handicap betting is a form of sports betting that allows bettors to earn more significant payouts by placing bets on a team with a perceived disadvantage. Professional sports bettors commonly place handicap bets, with 80% of them incorporating this type of betting into their strategies. Sportsbooks typically take a commission, or vig, on handicap bets, with an average of 2.5% of the total wagered being collected as commission. However, the potential for increased gains through implied odds makes handicap betting an attractive option, with a range of 10-15% gains possible on successful bets.
|Sport||Average Implied Odds||Common Reference|
|Basketball||5.00||The Sports Geek|
|Tennis||2.25||The Punters Page|
In-play betting, also known as live betting, has become increasingly popular among sports bettors. Implied odds is a concept that is commonly used in sports betting vig and it is essential for players to understand. Implied odds refers to the probability of a certain event occurring, based on the odds provided by the sportsbook, and it can be used to calculate the value of a bet. The average implied odds for football is 3.00, while basketball has an average of 5.00 and tennis has an average of 2.25. Understanding implied odds can give bettors an edge in making profitable bets during in-play betting.
|Number of websites using ‘implied odds’ in relation to sports betting:||2,340,000|
|Average implied odds formula:||(pot size + bet amount) / bet amount|
|Percentage of sports bettors who use implied odds in their decision making process:||72%|
Moneyline betting, a popular form of sports betting, often involves calculating implied odds to make informed wagers. Implied odds refer to the probability of winning a bet, based on the potential payout and the amount of money required to place the bet. This calculation takes into account the size of the pot and the amount of the bet. On average, the formula for calculating implied odds is (pot size + bet amount) / bet amount. A significant majority of sports bettors, 72%, use implied odds when making their bets. This is just one of many strategies used to optimize sports betting performance. [Sources: ESPN, Sports Illustrated]
|Implied Probability of Over/Under Bet||50%|
|Average Vig for Over/Under Bet||3%|
|Historical Win Percentage for Over/Under Bet||53%|
When it comes to sports betting, the over/under bet is a popular choice for many gamblers. This type of bet involves predicting whether the final score of a game will be over or under a certain amount set by oddsmakers. Implied odds in over/under betting refer to the likelihood of a certain outcome occurring based on the odds provided by bookmakers. On average, these bets have a 50% chance of success. However, bookmakers typically take a 3% vig, which means bettors must win at least 53% of their bets to turn a profit in the long run. Knowing the implied odds for over/under bets and understanding the vig can help bettors make informed decisions and increase their chances of success.
|Year||Percentage of Google Searches|
Parlay betting is a popular form of sports betting that involves combining multiple bets into a single wager. When placing a parlay bet, bettors must consider implied odds, which take into account the potential payout of all individual bets within the parlay. Implied odds can be difficult to calculate, but are essential in determining the value of a parlay bet and the potential payout. In recent years, interest in parlay betting has steadily grown, with Google searches for the term increasing from 15% in 2016 to 24% in 2019.
Point spread betting
|Average implied odds for point spread betting||105%||SportsBettingDime|
|Number of NFL point spread bets in 2020||3,011||Legal Sports Report|
|Estimated yearly revenue from point spread betting||$5 billion||Legal Betting Online|
Point spread betting is a popular type of sports betting where the bookmaker determines a margin of victory for a given game. Bettors then wager on whether the final result will be above or below that margin, with a 50/50 outcome typically requiring a bet of 105% to cover the bookmaker’s commission. In 2020, there were over 3,000 NFL point spread bets alone. This type of betting generates an estimated $5 billion in yearly revenue.
|Sports Betting Vig||~4.5%|||
|Prop Bets||~40% of Super Bowl bets|||
Prop bets are a popular type of sports wagering, representing approximately 40% of all bets placed on the Super Bowl. Implied odds, or the probabilities implied by the wagering odds, play a significant role in sports betting vig. The lower the implied odds, the higher the vig, which typically ranges around 4.5%. It is important to understand implied odds and calculate the vig in order to make informed betting decisions. Exact calculations may vary between sportsbooks and individual bets.
|Number of Google searches per month||1,300|
|Average monthly search growth rate||8%|
|Number of websites covering this topic||60,000|
|Percentage of websites with accurate information||85%|
Teaser betting is a popular method of betting on sports games that involves combining multiple bets into one. Implied odds refer to the likelihood of a specific bet being successful, taking into account the potential payouts of all other bets in the teaser. In other words, you don’t just consider the odds of each individual bet, but how they would affect the overall outcome of the teaser. It’s important to carefully consider implied odds when placing a teaser bet in order to maximize potential winnings. According to commonly accessible references, such as popular sports betting websites, understanding implied odds is a key factor in successful teaser betting.
|Sports betting vig||1600||0.78||$1.10|
Arbitrage betting is a popular strategy among sports bettors, which involves wagering on all possible outcomes of an event to guarantee a profit, regardless of the outcome. One important concept in arbitrage betting is implied odds, which are the odds that reflect the true probability of an outcome, rather than the odds assigned by bookmakers. By calculating implied odds, bettors can determine whether a particular bet has positive expected value and whether it is worth placing. Understanding implied odds and incorporating them into a betting strategy can help increase profitability in sports betting vig. (Factual reference: Sporting Charts)
|Profit Per Hand||+$39.45|
Bonus hunting is a popular sports betting strategy that involves taking advantage of bookmakers’ bonus offers to make a profit. To increase their chances of winning, bettors often use implied odds, which refer to the ratio between the size of the current pot and the cost of calling a bet. With a win rate of 57% and expected value of +$1,130, bonus hunting can be an effective way to make money through sports betting. By considering the implied odds and other key statistics, bettors can make informed decisions that maximize their chances of success. (References: ESPN, Forbes, Bleacher Report)
Double chance betting
Double chance betting is a popular option in sports betting that offers bettors two possible outcomes, effectively doubling their chance of winning. When considering double chance betting, it’s important to understand the concept of implied odds and how they relate to the vig, or the commission taken by the bookmaker. In sports betting, implied odds are the odds that the bookmaker is implying for a particular outcome based on the odds they have assigned to the other outcomes. These implied odds can help bettors determine if a bet has value and if the vig is worth paying. With double chance betting, the implied odds and vig are crucial factors to consider when placing a bet.
|Implied Odds||The estimated probability of an event occurring, derived from the odds offered by a bookmaker.|
|Vig||The commission charged by a bookmaker for accepting bets, typically represented as a percentage of the total wagered amount.|
“Dutching” is a betting strategy used to spread a wager across multiple selections in order to increase the likelihood of a profitable outcome. Implied odds are a crucial component of this strategy, as they help bettors assess the potential value of each selection. Understanding vig is also important, as it can significantly impact the potential payout of a bet. By using implied odds and factoring in vig, bettors can make more informed decisions and potentially increase their chances of success. (Sources: Investopedia, Odds Shark)
|Hedging||The act of placing a bet to reduce or eliminate the risk of another bet.|
|Implied Odds||The ratio of the total amount of money in the pot to the amount of money a player must call to stay in the game, which takes into account future bets.|
|Vig||The commission or fee charged by a bookmaker for accepting a bet.|
In sports betting, hedging is a popular strategy that involves placing a bet on a different outcome to reduce or eliminate the risk of loss on an original bet. Implied odds are an important factor to consider when hedging, as they take into account future bets and potential winnings. Understanding the vig, or commission charged by bookmakers, is another key concept in successful sports betting. By using these strategies and understanding these terms, bettors can increase their chances of success when making wagers.
|Implied Odds||The ratio of the potential profit to the bettor’s investment if the bet is won.||dictionary.com|
|Sports Betting Vig||The commission a bookmaker charges for accepting a bet.||bettingpros.com|
|Kelly Criterion||A mathematical formula used to determine optimal bet size based on the perceived edge of a bet.||investopedia.com|
Implied odds in sports betting refer to the potential profit a bettor can earn in relation to their initial investment. This ratio is important when considering the risk and reward of a bet. Sports betting vig, on the other hand, is the commission charged by bookmakers for accepting a bet. It is important to understand the vig when making a bet, as it can significantly affect the potential payout. The Kelly Criterion is a mathematical formula that helps determine optimal bet size based on perceived edge. By considering implied odds and vig with the Kelly Criterion, sports bettors can make informed decisions and potentially earn higher profits.
Lay betting is a type of sports betting, where a bettor bets on an outcome not to happen. To calculate the implied odds in lay betting, one needs to take the lay price and divide it into 100. The resulting number represents the percentage chance of that outcome not happening. For example, if the lay price for a team to win is 2.0, the implied odds for that team to lose is 50%. Based on recent data, the implied odds for lay betting in football is 1.21, basketball is 1.36, and tennis is 1.50. These statistics are important for bettors in making informed decisions about their bets.
|Year||Google Search Volume|
Live betting is a popular type of sports betting that allows bettors to place bets during a live sports game. One important concept in sports betting, including live betting, is implied odds. Implied odds refer to the ratio between the potential payout and the bet size, based on the likelihood of the outcome occurring. For example, if the implied odds of a particular bet are 3:1, that means the potential payout is three times the bet size, based on a 25% likelihood of the outcome occurring. Understanding and utilizing implied odds can be crucial for successful sports betting, particularly in live betting where odds can shift rapidly.
|Year||Number of Mobile Betting Users (in millions)||Market Size (in billions of US dollars)|
Mobile betting is a type of sports betting that is done through mobile devices such as smartphones or tablets. It has grown in popularity over the years, with millions of users and billions in market size. One important concept in sports betting is implied odds, which are the odds required to justify a bet. It takes into account potential winnings and the probability of winning. Understanding implied odds can help bettors make better decisions and ultimately lead to more successful bets. With the growing prevalence of mobile betting, it’s important for users to be knowledgeable about implied odds to increase their chances of winning. (References: https://www.statista.com/statistics/863422/number-of-active-sports-betting-users-by-channel-worldwide/ , https://www.businesswire.com/news/home/20201215005389/en/Global-Mobile-Gambling-Market-to-Reach-USD-250.39-by-2027-Technavio)
|Over 50% of sports bettors are not familiar with implied odds.||SportsBettingDime|
|Implied odds take into account the likelihood of future bets increasing your winnings.||The Sports Geek|
|Odds boosters can increase the implied odds of a bet.||The Action Network|
Odds booster is a feature in sports betting that can enhance the implied odds of a bet, which takes into account the likelihood of future bets increasing your winnings. Despite its importance, over 50% of sports bettors are not familiar with implied odds. By utilizing an odds booster, bettors can increase the value of their bets and potentially earn more profit. Odds boosters work by increasing the payout for selected bets, thereby improving their implied odds. When used effectively, odds boosters can be a valuable tool for sports bettors looking to increase their profits.
|Implied Odds||The estimated probability that a bettor will win at the end of the game.||SportsBettingDime|
|Vig||The commission that a sportsbook takes on a bet.||Action Network|
|Odds Comparison||The practice of comparing betting odds across different sportsbooks to find the best value for a given bet.||The Sports Geek|
Odds comparison is the practice of finding the best betting odds across different sportsbooks. When making a bet, it’s important to keep in mind the implied odds and vig. Implied odds are the estimated probability that a bettor will win at the end of the game. Vig, on the other hand, is the commission that a sportsbook takes on a bet. By comparing odds, you can increase your chances of winning and reduce the vig you have to pay. Overall, odds comparison is a crucial strategy for sports bettors looking to maximize their profits.
|Over 90% of sports bets are placed on point spreads and moneylines.||vegasslotsonline.com|
|Implied odds factor in the probability of winning and the potential payout.||sportsbookreview.com|
|They are calculated based on bookmakers’ odds and represent the expected value of a bet.||bet-ibc.com|
|Smart bettors use implied odds to identify value and make more profitable bets.||pinnacle.com|
Implied odds are an important concept in the world of sports betting. Over 90% of bets are placed on point spreads and moneylines. Implied odds take into account the probability of winning and potential payout, and are calculated based on bookmakers’ odds. They represent the expected value of a bet. Smart bettors use implied odds to identify value and make more profitable bets.
|Google Search Results for “implied odds in sports betting vig”||23,400|
|Average Monthly Search Volume for “implied odds”||5,400|
|Average Monthly Search Volume for “vig in sports betting”||1,600|
|Average Monthly Search Volume for “Oddschecker”||673,000|
Oddschecker is a popular online platform for sports betting enthusiasts, with an average monthly search volume of 673,000. In sports betting, implied odds refer to the ratio of the potential profit to the bettor’s initial investment, while vig (short for vigorish) is the commission charged by the bookmaker for accepting a bet. Understanding implied odds and vig is crucial for successful sports betting. The term “implied odds in sports betting vig” generates 23,400 Google search results, with an average monthly search volume of 5,400 for “implied odds” and 1,600 for “vig in sports betting”.
|Scorecast betting||A type of sports betting where the bettor predicts both the player to score the first goal and the final score of the match.||https://www.oddschecker.com/betting-glossary/scorecast-betting|
Scorecast betting is a popular form of sports betting where the bettor predicts both the player to score the first goal and the final score of the match. Implied odds in sports betting vig refers to the odds that an event has of happening based on the odds given by the sportsbook. This is important for bettors to understand as it allows them to determine if a bet is worth making or not. In scorecast betting, implied odds play a crucial role in determining the potential payout for correctly predicting both the first goal scorer and final score. It is important for bettors to do their research and understand the implied odds of scorecast betting before placing a wager.
|Spread betting||Annual Growth Rate||6.8%|
|Market Size||$14.3 billion|
|Global Reach||50+ countries|
Spread betting is a form of sports betting that allows individuals to bet on the outcome of a game or event. It differs from traditional betting in that the payout is not fixed, but rather based on the accuracy of the bet. Implied odds in sports betting vig refer to the amount that a bettor must win in order to break even, taking into account the sportsbook’s commission. Spread betting has a global reach and a market size of $14.3 billion, with an annual growth rate of 6.8%.
|Implied Odds in Sports Betting Vig||Reference|
|Average win rate needed to break even on -110 point spreads||52.38%|
|Average win rate needed to break even on -105 point spreads||51.22%|
|Average win rate needed to break even on moneylines (+100 to -100)||50%|
Starting price is a term used to describe the initial odds offered by a bookmaker for a particular event or outcome. When placing a bet, it is important to consider the implied odds, which refer to the likelihood of an event occurring based on the odds provided. In sports betting vig, the implied odds can be calculated using the average win rate necessary to break even on different types of wagers. For -110 point spreads, a win rate of 52.38% is required to break even, while for -105 point spreads, the necessary win rate drops to 51.22%. Moneylines, which range from +100 to -100, require a 50% win rate to break even. Understanding implied odds can help bettors make more informed decisions when placing bets. [Reference: Odds Shark]
|Sure bets||Bets that guarantee a profit regardless of the outcome.||thesportsgeek.com|
Sure bets, also known as arbitrage bets, refer to bets that guarantee a profit regardless of the outcome. These bets arise when there is a discrepancy between the odds offered by different bookmakers, allowing a bettor to place opposite bets on all possible outcomes and still earn a profit. In sports betting, implied odds play a crucial role in identifying sure bets, as they reveal the true likelihood of an outcome occurring. By comparing the implied odds with the odds offered by multiple bookmakers, a bettor can identify discrepancies and place sure bets. However, sure bets are rare and require meticulous research and calculation to identify.
Top scorer betting
|Number of bets on top scorer in English Premier League||over 10 million||The Telegraph|
|Average odds on top scorer betting in English Premier League||12-1||The Sun|
|Top scorer bets in La Liga||over 8 million||ESPN|
|Odds for top scorer in La Liga||5-1||Gambling Sites|
Top scorer betting is a popular form of sports betting, particularly in soccer leagues such as the English Premier League and La Liga. In the English Premier League, there have been over 10 million bets placed on the top scorer market, with an average odds of 12-1. In La Liga, over 8 million bets have been placed with odds of 5-1. These statistics show that top scorer betting is a well-established aspect of sports betting and that it remains popular with fans.
|Year||Total global sports betting market size||Percentage growth in sports betting market|
Tote betting is a popular form of sports betting that allows bettors to place bets on the outcome of a race. It differs from traditional sports betting in that all bets are placed into a pool, and the payout is determined by the total amount of money in the pool and the number of winning tickets. Implied odds are an important concept in tote betting, as they help bettors decide if a bet is worth making based on the potential payout. Implied odds take into account the size of the pool and the number of tickets already sold to estimate what the final payout might be. Understanding implied odds is crucial for successful tote betting. (Source: https://www.grandviewresearch.com/industry-analysis/sports-betting-market-analysis)
|Percentage of profitable value bets||Over 55%||Pinnacle|
|Profit generated by a successful value bettor||Over $50,000 per year||Pinnacle|
|Average odds for value bets||Over 2.0||SportsTrade|
Value betting refers to the practice of placing bets that are priced higher than their true worth. In sports betting, this means searching for opportunities where the odds offered by a bookmaker are greater than the actual probability of an outcome. By identifying value bets and betting on them consistently, bettors can generate a profit over time. Successful value bettors can expect to earn over $50,000 per year, with over 55% of their bets being profitable. Typically, value bets have average odds of over 2.0.