Is It Really 50/50 When You Bet on 2.00 Odds?

[Slow death]

In mathematics, perhaps it is, but in my head, when I see a game with odds of @2.00, a big alarm goes off that immediately tells me: "Proceed with great caution." Only in very special cases do I bet on games with these odds. And when I talk about special cases, they are cases in which I see the odds, look at both teams, analyze them, and realize that the odds creators may have missed something

and so I can take advantage of that information they didn't have when betting on the game. For example, in games involving African teams, in most cases, bookmakers greatly underestimate my country's national team and put odds of @2.00, and I bet, and at the end of the game, I win the bet.

[nelson4lov]

I don't think odds really matter and I also think it's unnecessary that you guys calculate things like "2 odds is not really 50%". In my books, a 2 odds bet is likely going to be a winning bet compared to something like 100 odds. Gambling is zero-sum at the end of the day so there's always going to be a winner and a loser. That's why I chose sportsbetting among all gambling because it's the closest thing to fairness that you'll get after provable randomness.

[DaNNy001]

The bookies are the ones that knows the percentage of each odds they set, 2 odds might be 50/50 or maybe not...from your own research you should be able to know the chances of the game you picked in order not to be deceived by the odd trick of the bookmakers...sometimes when you see such odds it's not even 50/50, the percentage might be above 50 percent but you won't be confident enough to pick that option

[Cantsay]

I always go with the probably being 0.5 or 1/2 which is it’s either you win the bet or you lose the bet the odds doesn’t really matter for me. The fact that it’s a 50/50 something doesn’t really affect your outcome it doesn’t mean shit, even a odd that had a good probability of winning can making you lose your bet so I don’t really bother myself doing those mentally straining mathematical calculations behind odds.

If I’m gambling, I’m gambling I don’t do those overkill calculations - I don’t know if you you guys find it fun but it’s not for me.

[Onyeeze]

I am tired of 'odd even' discussion. I think this is the third thread about such threads.

Betting should just be for fun, people should know that the betting sites are not for the business owners to lose but for the bettors to lose while the betting site owners will make money.

This is beyond 'even odd' but it is also applicable to other bet odds and also existing in casinos.

Why people are bothered is that majority don't bet for fun, because if majority bets for fun nobody will feel remorse after losing in gambling

We need to know that almost every body who gambles have the plan of making money through gambling, and that's why you see people air out their anger or emotions when they lose  for gambling, people that owns gambling wants a gambler to keep losing and complaining, because owning a gambling website is a personal Business, and they want people to be losing

[rachael9385]

As much as they want us to believe that we actually have 50/50 chance, and as long as there are people who actually believe this then the betting companies will always keep making money out of us, of course people will always gamble, placing bets over the smallest of things is one nature we might never be able to beat and the bookies know this so they will always exploit the inherent limitation we have as human to their advantage, it's left oft us to understand the difference, we are here to make them rich not the other way around, the usual wins every once in a while keeps coming it just to keep us in the game.

Personally, I think the percentage of an odd playing out is dependent more on other factors, for example in sports betting when a team is given 2 odds to win it's not really about the odds a lots of times because it's a trap, what you should be looking at is the teams performance, history and other statistical views. The odds being given is enough to actually know the percentage, you'll only lose more if you approach it that way

[boyptc]

I am tired of 'odd even' discussion. I think this is the third thread about such threads.

Betting should just be for fun, people should know that the betting sites are not for the business owners to lose but for the bettors to lose while the betting site owners will make money.

This is beyond 'even odd' but it is also applicable to other bet odds and also existing in casinos.

I agree, there's so much discussions about these odds already. I think that this is the time to consolidate them all and have it on one thread.

Like a "thread discussion about odds".

Maybe something like that is going to work but even so, we might see another threads popping about another higher or lower odd is compared to another ratio.

Anyway, it's different a comparison if we'd say that 2.00 odds are 50/50 or 50% winnable.

[mcdouglasx]

Essentially, if you bet on a match, depending on the sport, the percentages will never be equal. Therefore, no matter what the bookmaker chooses, you could have a profit margin if the team you choose wins. In other words, it's not that the casino earns a percentage of that, but that percentage makes the bet more evenly distributed, which guarantees the bookmaker a profit.
In short, everything is still influenced by a bit of luck at the end of the day.

[livingfree]

We don’t really notice it because the numbers look balanced, but that hidden margin is what keeps the sportsbook profitable long-term.

They're a mere business and that's why they always have to hide those that gamblers might see that shall be against their interest.

And that's what they have to keep the business running and to be profitable in the long run.

What do you guys think.. is it still worth betting on “even odds” when the real chances are already tilted against us? Or do you try to find value elsewhere instead of chasing the illusion of 50/50 bets?

I don't care any of that.

What matters to me is if that bet of mine could win me some money. These value bets or illusions are just making things and decisions too complicated us to move forward as we bet.

[stadus]

The true 50-50 odds are actually around 1.90, since no matter the outcome, bookies still make about a 10% commission.

When you see odds listed as 2.00, it’s not really balanced, the opposing side is usually around 1.90 or even lower. So even if you’re betting on 2.00, the real probability is already below 50%. If we don’t understand the math behind it, we might easily fall for wrong assumptions and you know where would that lead you.

[God Of Thunder]

A lot of bettors think that when they bet on 2.00 odds, it’s a fair 50/50 chance, like flipping a coin. But in reality, that’s not true. The implied probability might say 50%, but the real probability is usually around 46–47%, and that small gap is exactly where the bookies make their money.

I think that is called edge, and I think it is pretty much known. If someone is a regular gambler, I expect them to learn about RTP, House edge, and similar terms. All kind of gambling has an edge, and that is where the casinos/sportsbooks make money. The in-house games, slots, and even sports betting. So it is nothing new, but probably a lot of gamblers don't know if they are new to gambling.

This is the reason casinos can make money and the casino industry is still growing. Apart from these, casinos also make money in different ways. Even the lotteries on the casino has en edge which they use to make money. They even make money from your withdrawal fees.

[jcojci]

Some gamblers will do that while others will search for better. They think that it is still worth betting on "even odds" because they have some reasons that we don't know. Gamblers will not care if casinos take a small percentage from their winning because they can win. Gamblers will just think about how they can win even if that takes time to have the right.

Some gamblers will find value elsewhere if they don't see the chance of winning on that game. But for greedy gamblers, they will take it and place their bet. Odds never guarantee winning because it is gambling.

[Juicyhome]

There's no sure odds in gambling, the lowest odds do lose the bigger odds. It's not about the odds but mainly luck. Have pick 21 odds and it play for me, have also pick 2.00odds and it cut, many times. Gambling is a lucky bet, whether big or small odds you still depend on your luck to win 100%. Because if it was by 2odds many gamblers would have been a billionaires today, they're those that only stake on 2odds but they still lose and take break, sports betting is a lucky game and you have to play with your brain not emotion.

The only difference between 2 odds and plenty odds is that 2odds is a method to minimize too much lost. That is and if you're always playing 2odds and taking High is a nice strategy, the possibility to win is still depend on your luck but you won't be so stress in checking up many games, yours attention won't be divided,you will just focus on the game your pick for the 2odds. And as a wish gambler,  do not pick many games just to secure 2odds, it will still cut, instead pick just two games or single game for your 2odds to minimize lost.

[Russlenat]

Some gamblers will do that while others will search for better. They think that it is still worth betting on "even odds" because they have some reasons that we don't know. Gamblers will not care if casinos take a small percentage from their winning because they can win. Gamblers will just think about how they can win even if that takes time to have the right.

Some gamblers will find value elsewhere if they don't see the chance of winning on that game. But for greedy gamblers, they will take it and place their bet. Odds never guarantee winning because it is gambling.

You’re just looking at the odds and then placing your bet, that’s pure blind betting. Even if the odds are 2.00, you shouldn’t get tempted right away.
You have to evaluate if the market is really justifiable at that price.

For example, say you see odds at 2.00 but the line is -7.5 for a team to cover the spread, when in reality their true chance is only around -3.5. If you don’t evaluate that, then you’re missing the most important part, the true probability behind those numbers.

[mak013]

In mathematics, perhaps it is, but in my head, when I see a game with odds of @2.00, a big alarm goes off that immediately tells me: "Proceed with great caution." Only in very special cases do I bet on games with these odds. And when I talk about special cases, they are cases in which I see the odds, look at both teams, analyze them, and realize that the odds creators may have missed something

and so I can take advantage of that information they didn't have when betting on the game. For example, in games involving African teams, in most cases, bookmakers greatly underestimate my country's national team and put odds of @2.00, and I bet, and at the end of the game, I win the bet.

Even for maths it is not true, or at least not always. In your calculation there are just two result of three. But there are win, lose and draw. So if odd is 2.00 - it means that win chance is about 40%.
And even in two result events there is third side - casino. They need to get some profit anyway.

[rakebit]

2.00 odds might look like a 50/50 bet, but the bookmaker margin always tilts it slightly against you. True even odds would only exist if there was zero house edge and perfect balance between both sides. That’s why long-term profit comes from finding value bets, not “fair” odds.
Do you usually track your ROI over time or just per bet?

[Fredomago]

A lot of bettors think that when they bet on 2.00 odds, it’s a fair 50/50 chance, like flipping a coin. But in reality, that’s not true. The implied probability might say 50%, but the real probability is usually around 46–47%, and that small gap is exactly where the bookies make their money.

We don’t really notice it because the numbers look balanced, but that hidden margin is what keeps the sportsbook profitable long-term. So even if you win sometimes, over many bets, that small percentage difference starts to add up in their favor, not yours.

What do you guys think.. is it still worth betting on “even odds” when the real chances are already tilted against us? Or do you try to find value elsewhere instead of chasing the illusion of 50/50 bets?

Yeah that's true but gambler's who wanted to earned that amount will chase for it and even how bookies play with the odds there's always a gambler that will continue to bet on it, though it's not the odds but more on the luck that will lead you to win but in some other gamblers they value those information and use it as factor to consider before placing their bets.

It's a gambler's perspective either to continue placing their bet even they are well aware about it, chances to win can't be concluded basing to odd but it's always the outcome of the game that matters.

[o48o]

A lot of bettors think that when they bet on 2.00 odds, it’s a fair 50/50 chance, like flipping a coin. But in reality, that’s not true. The implied probability might say 50%, but the real probability is usually around 46–47%, and that small gap is exactly where the bookies make their money.

We don’t really notice it because the numbers look balanced, but that hidden margin is what keeps the sportsbook profitable long-term. So even if you win sometimes, over many bets, that small percentage difference starts to add up in their favor, not yours.

What do you guys think.. is it still worth betting on “even odds” when the real chances are already tilted against us? Or do you try to find value elsewhere instead of chasing the illusion of 50/50 bets?

"Worth it"? That's a funny way of phrasing it.

Worth terms of profit, no. Edge have always been against us, but that's not why we are gambling, is it? If it would be higher, favoring us, then casinos would be unprofitable businesses. And it wouldn't be even gambling.

Worth in terms of past time and having fun? It has always been so, because no one ever even suggested that casino/bookie wouldn't have an edge over you. Why would this change?

[Julien_Olynpic]

In fact, at any bookmaker, all odds are balanced and "fair." And I don't understand why, all other things being equal, we should prefer bets with odds of 2.0 to other bets. In my opinion, this is at best strange, at worst absurd. A bet with odds of 2.0 is just as random as any other. Of course, a bet with low odds and a high probability will lead to a win more often, but as a rule, the odds will be so low that you won't make any money on it.

[Yablee0]

What do you guys think.. is it still worth betting on “even odds” when the real chances are already tilted against us? Or do you try to find value elsewhere instead of chasing the illusion of 50/50 bets?

One thing we must understand In gambling is that there is no assurance elsewhere that gaurds gambling, don't be deceived by all those stuff of having the mentality of odds do this and that, I don't believe in all those sh**t because no matter the best odds you end up choosing if you want to be messed up nothing can change it and that's how gambling roll. No matter your strategies you might apply in your bet or game gambling platforms or rather the owners of all gambling companies are bend on making profits than the gamblers them self, so you see that's how the whole gambling business works, they are always ahead of the players.  Therefore, it will be of your best interest if you only gamble for fun else you keep chasing your endless lost.