How We Made These Calculations
Source of odds:
All odds excluding Pinnacle Sports and Betfair were collated by www.football-data.co.uk and sourced from Betbrain.com on Friday afternoon for weekend games and Tuesday afternoon for midweek games.
Betfair odds were taken from Betfair’s own freely accessible comparison tool betchecker.betfair.com; they sourced their odds prior to kick-off.
Pinnacle Sports odds were the final available odds at www.pinnaclesports.com.
In a small number of cases odds weren’t available for some bookmakers, in which case we assigned the highest available odds; where Pinnacle Sports’ odds weren’t available we only assigned the average of other bookmakers.
Betfair Commission Deduction:
The most common commission rate of 5% was deducted from Betfair odds to provide a fair representation for comparison purposes.
The term ‘industry average’ refers to an average of the Premier League/Bundesliga/La Liga/Serie A 1x2 odds compiled by Betbrain.com for 41 bookmakers over the 2010/11 season. The ‘industry average’ does not include Betfair as their odds were only available for the winning outcome, rather than for home, draw and away.
The ‘margin’ is defined as the edge held by a bookmaker, also known as Market Percentage. The ‘Margins’ are calculated by representing odds as a % and summing. e.g. example odds - Home Win 1.69; Draw 5.33; Away 4.15 Percentage Home Win (1/1.69) + Draw (1/5.33) + Away (1/4.15) = Home 59.17% + Draw 18.76% + Away 24.09% which gives a 102% margin. A figure of 100% represents a ‘fair book’ i.e. with no edge to the bookmaker or the bettor.
Top of the table for 1x2 odds compared to 42 leading Bookmakers
This figure represents the summed profit from placing individual £10 bets on the winning outcome in each of the Premier League/Bundesliga/Serie A/La Liga games in the 2010/11 season using the comparable 1x2 odds (as per the above general definitions). The bets were not cumulative, or dependent.
See For Yourself
The ‘See For Yourself’ comparative element allows you to compare the profit figures (as stated above) for Pinnacle Sports against 10 listed bookmakers, to display the difference in potential profit that would have resulted.
Better Than Industry Average For 1x2 Odds
The calculation for this was based on the averaged margins of 1x2 Premier League/Bundesliga/Serie A/La Liga odds for the 2010/11 season for 41 bookmakers quoted by Betbrain.com.
Example Margin Calculation – Premier League
The averaged margin for Pinnacle Sports’ 1x2 Premier League odds over the 2010/11 season was 102.1%; for the ‘industry average’ (as defined above) it was 106.1%. Given the base figure for margins is 100% - which gives no edge to the bookmaker - Pinnacle Sports was therefore 66% better than industry average in relation to that base figure.
6.1 Minus 2.1 = 4 ; 4 / 6.1 = 0.66*100 = 65.57%
The base currency used for calculations was British Pounds, with the exchange rates for different language versions using the relevant exchange rates from www.oanda.com on July 29th, 2011.
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