What Does Best Price Percentage Mean in Betting?

Best price percentage is a term that refers to the percentage of the total amount wagered on a market that goes to the bettor if they win their bet. It is calculated by dividing the potential payout by the total stake and multiplying by 100.

For example, let’s say you bet $100 on a team to win at odds of 2.00. If you win, you will get back $200, which is your stake plus your profit. The best price percentage for this bet is 200 / 100 x 100 = 200%. This means that you will get back twice as much as you wagered.

However, not all bets have the same best price percentage. Some bets have lower odds and lower payouts, which means that they have a lower best price percentage. For example, let’s say you bet $100 on a team to win at odds of 1.50. If you win, you will get back $150, which is your stake plus your profit. The best price percentage for this bet is 150 / 100 x 100 = 150%. This means that you will get back one and a half times as much as you wagered.

Why is Best Price Percentage Important?

Best price percentage is important because it shows you how much value you are getting from your bets. Value is the difference between the true probability of an outcome and the implied probability of the odds. The higher the value, the more likely you are to make a profit in the long run.

The best price percentage can help you compare different bets and find the ones that offer the most value. Generally speaking, the higher the best price percentage, the higher the value. However, this does not mean that you should always bet on the highest best price percentage available. You also need to consider other factors, such as:

• The reliability of the source of the odds
• The accuracy of your own prediction
• The risk involved in the bet
• The availability of alternative bets

How to Find the Best Price Percentage?

Finding the best price percentage can be challenging, especially if you are betting on multiple markets or events. However, there are some tools and resources that can help you with this task.

One of them is an overround calculator, which can show you the overround percentage of a market. The overround percentage is the opposite of the best price percentage. It is the percentage of the total amount wagered on a market that goes to the bookmaker if they win their bet. It is calculated by adding up the inverse of the odds for all possible outcomes and multiplying by 100.

For example, let’s say there are three possible outcomes for a market: A, B, and C. The odds for each outcome are:

• A: 2.00
• B: 3.00
• C: 4.00

The overround percentage for this market is:

• (1 / 2) + (1 / 3) + (1 / 4) x 100
• = (0.5 + 0.333 + 0.25) x 100
• = 1.083 x 100
• = 108.3%

The best price percentage for this market is:

• 100 / overround percentage
• = 100 / 108.3
• = 92.4%

The overround calculator can help you find out how much margin the bookmaker is taking from each market and how much value you are getting from your bets.

Another tool that can help you find the best price percentage is a betting odds comparison website, which can show you the different odds offered by different bookmakers for the same event or market. By comparing different odds, you can find out which bookmaker is offering the best price percentage for your bet.

For example, let’s say you want to bet on a cricket match between India and Australia. You can use a betting odds comparison website to see what odds different bookmakers are offering for each team to win. You can then calculate the best price percentage for each bet using this formula:

• Best price percentage = (odds x stake) / stake x 100

Let’s say you want to bet $100 on India to win and these are some of the odds offered by different bookmakers:

• Bookmaker A: 1.80
• Bookmaker B: 1.90
• Bookmaker C: 2.00

The best price percentage for each bet is:

• Bookmaker A: (1.80 x 100) / 100 x 100 = 180%
• Bookmaker B: (1.90 x 100) / 100 x 100 = 190%
• Bookmaker C: (2.00 x 100) / 100 x 100 = 200%

As you can see, bookmaker C is offering the best price percentage for your bet on India to win. By betting with bookmaker C, you will get the most value from your bet.

How to Use the Best Price Percentage to Make Better Bets?

Using the best price percentage to make better bets is not as simple as choosing the highest best price percentage available. You also need to have a good understanding of the sport, the event, and the market you are betting on. You need to be able to estimate the true probability of each outcome and compare it with the implied probability of the odds.

The true probability of an outcome is how likely it is to happen based on your own analysis and research. The implied probability of the odds is how likely the bookmaker thinks it is to happen based on their own analysis and research. The implied probability of the odds can be calculated by dividing 100 by the odds.

For example, let’s say you want to bet on a tennis match between Roger Federer and Rafael Nadal. You have done your own research and you think that Federer has a 60% chance of winning and Nadal has a 40% chance of winning. These are the true probabilities of each outcome.

You can use a betting odds comparison website to see what odds different bookmakers are offering for each player to win. Let’s say these are some of the odds offered by different bookmakers:

• Bookmaker A: Federer 1.50, Nadal 2.50
• Bookmaker B: Federer 1.60, Nadal 2.40
• Bookmaker C: Federer 1.70, Nadal 2.10

The implied probabilities of the odds for each bookmaker are:

• Bookmaker A: Federer 66.7%, Nadal 40%
• Bookmaker B: Federer 62.5%, Nadal 41.7%
• Bookmaker C: Federer 58.8%, Nadal 47.6%

As you can see, none of the bookmakers agree with your true probabilities of each outcome. However, some bookmakers are closer to your true probabilities than others.

To find out which bookmaker is offering the most value for your bet, you need to compare the true probability with the implied probability and find out which one has the biggest difference. The bigger the difference, the more value you are getting from your bet.

For example, let’s say you want to bet on Federer to win. You can compare your true probability of 60% with the implied probabilities of each bookmaker and find out which one has the biggest difference:

• Bookmaker A: 60% – 66.7% = -6.7%
• Bookmaker B: 60% – 62.5% = -2.5%
• Bookmaker C: 60% – 58.8% = +1.2%

As you can see, bookmaker C is offering the most value for your bet on Federer to win because it has the biggest positive difference between your true probability and their implied probability.

However, this does not mean that you should always bet with bookmaker C. You also need to consider other factors, such as:

• The reliability of the source of the odds
• The accuracy of your own prediction
• The risk involved in the bet
• The availability of alternative bets

For example, if bookmaker C has a reputation for being unreliable or dishonest, you might want to avoid betting with them even if they offer the most value for your bet. Similarly, if you are not confident in your own prediction or if you think that there is a high chance of an upset or a draw, you might want to look for other bets that have lower risk or higher reward.

To Sum Up

To Best price percentage is a useful concept that can help you find the most profitable bets in any sport or event. It shows you how much value you are getting from your bets by comparing the potential payout with the total stake.

However, best price percentage is not enough to make better bets. You also need to have a good knowledge of the sport, the event, and the market you are betting on. You need to be able to estimate the true probability of each outcome and compare it with the implied probability of the odds.

By using tools such as overround calculators and betting odds comparison websites, you can find out how much margin the bookmaker is taking from each market and how much value you are getting from your bets