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Beginner

Course

Betting basics

From what an odd means to expected value, luck, and the mistakes the brain makes when you bet.

What you will learn

Convert odds into probabilities and find the bookmaker margin.
Tell the main football markets and odds formats apart.
Calculate expected value and understand what a value bet is.
Understand why a good tip loses and how variance works.
Recognise the most common psychological traps.

Lessons

1How to read betting odds: probability and marginAn odd is a probability plus the bookmaker margin, and you can separate the two.3 min 2Odds formats and football marketsThe same price can be written three ways, and each football market pays out under its own rule.3 min 3Expected value and value bets: when a price is worth itA bet is good when the price beats the fair one, and a high hit rate alone does not show that.3 min 4Variance: why a 70% tip loses three times in tenEven a correct 70% tip loses three times in ten, and losing runs are part of the maths.3 min 5Betting psychology: the traps of the mindMost betting mistakes come from predictable biases, so naming them is the first defence.3 min

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