Online Football Betting - Some Thoughts
Probability Probability is the chance of a particular event occurring. For example, in tossing a coin, there are two possible outcomes: heads or tails. If the price offered on an event occurring is equal to its probability, then the price can be deemed fair (in the above example, Evens either event).In attempting to predict the outcome of football matches, an approximation of probability can only be made by looking at historical evidence, along with any other influential factors. For extended events, unknown factors (e.g. weather) can affect the chance of a particular event occurring. `Fair` prices are educated guesses of the expected probability of an event occurring, since exact calculations are impossible. Bookmakers form an opinion on the probability of an event occurring and price it accordingly. There is a potential for profit if they are wrong, assuming, of course, that the punter notices the error. Fixed Odds Fixed odds` betting has its origins in the fixed prizes offered...