And somewhere here must tell you the bad news.
No bookmaker will give you value bet as in the example on the currency. If they did, they would fall out very very quickly.
In practice, the betting companies do not intend to ever offer a points value. They intend always to give returns that have less value than the real one.
For example, a regular bookmaker would offer 1.90 return on the krone and 1.90 for the letters.
Let's say it takes 100 € in bets on the crown and 100 € bets on letters. Total received 200 €. And now let's say that winning the crown. The bookmaker pays bets on the crown with odds 1.90, essentially returning 190 €.
Ma received 200 €, to hear you say.
Exactly! The bookmaker keeps 10 € to himself. This supply is widely known as rake. Basically, the bookmaker puts money by not offering the full value on the returns it gives.
No bookmaker will give you value bet as in the example on the currency. If they did, they would fall out very very quickly.
In practice, the betting companies do not intend to ever offer a points value. They intend always to give returns that have less value than the real one.
For example, a regular bookmaker would offer 1.90 return on the krone and 1.90 for the letters.
Let's say it takes 100 € in bets on the crown and 100 € bets on letters. Total received 200 €. And now let's say that winning the crown. The bookmaker pays bets on the crown with odds 1.90, essentially returning 190 €.
Ma received 200 €, to hear you say.
Exactly! The bookmaker keeps 10 € to himself. This supply is widely known as rake. Basically, the bookmaker puts money by not offering the full value on the returns it gives.