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Statistical Football prediction is a method used in sports betting, to predict the outcome of football matches by means of statistical tools. The goal of statistical match prediction is to outperform the predictions of bookmakers [ citation needed ] [ dubious – discuss ] , who use them to set odds on the outcome of football matches.
Betting systems based on statistical analysis have been around for a while, however they have not always been well known. One group that was known for their accurate predictions was called The Computer Group. They formed in Las Vegas in 1980 and successfully wagered on college football and basketball games for years making millions.
Decimal odds of 2.00 are an even bet. UK format (fractional odds) are used by British bookmakers. They are the ratio of the amount won to the stake – the solidus "/" is pronounced "to"; for example, 7/1 is "seven to one". Fractional odds of 1/1 are an even bet. US format odds are the amount won on a 100 stake when positive, and the stake ...
Fixed-odds betting is a form of gambling where individuals place bets on the outcome of an event, such as sports matches or horse races, at predetermined odds. In fixed-odds betting, the odds are fixed and determined at the time of placing the bet. These odds reflect the likelihood of a particular outcome occurring. If the bettor's prediction ...
The goal of the betting company is to get the same amount of bets on both sides of the overtime game. [6] [7] [8] In theory, this means that the manager can set a zero value and adjust it later based on the number of incoming bets and/or factors that may affect the outcome of the game. In practice, the initial value is based on both ...
In 1946, Italy introduced a state-run pool for citizens to bet on football, called the Totocalcio. It was the only form of legalized football betting in the country until the late 1990s. For fans to win, they needed to correctly pick the outcome of 12 games. [42] A thirteenth game was added in 1951, and a fourteenth (but still called Thirteen ...
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Decimal odds are favoured by betting exchanges because they are the easiest to work with for trading, as they reflect the inverse of the probability of an outcome. [13] For example, a quoted odds of 5.00 equals to a probability of 1 / 5.00, that is 0.20 or 20%. Decimal odds are also known as European odds, digital odds or continental odds. [9]