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Small odds sure wins prediction, and what stringing them costs

A short price is not a safer bet. It is a smaller payout for a bigger stake, and the margin the bookmaker charges is a larger share of what is left. That matters most in the place these predictions are usually sold, which is stacked together on one slip.

What a short price actually says

A favourite at 1.20 implies a chance of one divided by 1.20, which is 83.3 per cent. The word implied is doing real work there: the figure includes the bookmaker's cut, so the outcome's actual chance sits below it. Nothing about the number being small makes it more certain. It makes the payout small.

This is why a losing run at short prices hurts more than it feels like it should. Four winners at 1.20 return 4.80 on four stakes of one, a profit of 0.80. One loser inside those five takes 1.00 back out. The margin for error is thinner at the short end, not thicker.

Why they are sold in fives

Stack five 1.20 shots and the slip pays 2.49 times the stake, which is the number that makes the format attractive. What is not printed beside it is that the bookmaker's cut applies once per leg and multiplies.

Put arithmetic on it. If each market carries a five per cent overround, a single bet returns about 95 kobo in the naira over the long run. Five legs carry that cut five times: 1.05 to the fifth power is about 1.276, so the expected return drops to roughly 78 per cent. Ten legs take it to about 61. The selections have not got worse; the same edge has simply been charged five or ten times instead of once.

The phrase, and what it is for

Sure wins is not a description of a bet, it is a description of a sales page. No price at any length removes the chance of losing, and a market that could be beaten with certainty would be repriced before the tip reached a second reader.

What the phrase reliably identifies is the kind of site that will show you a winning slip and not the week around it. If a set of short-price selections is offered as certain, the only figure worth asking for is how the last two hundred of them settled.

What is measured here and what is not

This site is a margin index, and on Nigeria it does not yet have a margin to index. No bookmaker on this market has had its prices sampled from its own feed by this desk, so there is no measured overround on any row and this page quotes none.

The five per cent above is an illustration for the arithmetic, not a reading of any book here. The arithmetic itself does not depend on the figure being right: whatever the real cut turns out to be, the multiplication across legs works the same way, and you can run it on your own slip with the prices in front of you.