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Bookie Profit Indicator

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Bookie Profit Indicator

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Bookmaker's profit indicator shows how much the bookmaker receives in stakes whenever he makes a payment of $1. If odds[1] is the (European) odds for a home win, the payout from a $1 bet, then 1/odds[1] is the bookmakers price for a payout of $1 in case of a victory for the home team. The price for paying out $1 irrespective of the outcome of the outcome of the game (where you play all three outcomes) is thus:

Profit indicator = (1/odds[1]) + (1/odds[X]) + (1/odds[2])

Example :
Brazil : $1.40
Draw : $3.75
England : $5.00

Profit indicator :
= (1/1.40) + (1/3.75) + (1/5.00)
= 0.7143 + 0.2667 + 0.2
= 1.181

In this case the profit indicator shows that the bookmaker receives a stake of $1.181 for every $1 paid out.

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