In betting, understanding “overround” is crucial for both bookmakers and bettors. Overround, also known as the “bookmaker’s margin,” reflects how much profit a bookmaker expects to make. Essentially, it’s the sum of the implied probabilities of all possible outcomes in a betting market, which usually totals more than 100%. This excess percentage represents the bookmaker’s edge.
To illustrate:
- If a bookmaker offers odds on a football match between Team A and Team B, the implied probabilities of each outcome (win, lose, draw) may add up to 105%, meaning the overround is 5%.
Understanding overround helps bettors:
- Identify profitable opportunities
- Avoid markets with high bookmaker margins
- Enhance overall betting strategy
By learning how to calculate and consider overround, bettors can make more informed decisions, potentially increasing their chances of success.
