Odds are the bookmaker’s numerical representation of something to happen. A betting market brings together odds in a book that has a built-in profit margin for the bookmaker and attracts bets, ideally on each outcome. The market fluctuates in line with the weight of money on each outcome. The first odds for any market are known as tissue prices which can change rapidly if bettors believe one outcome has been overpriced. Betting sites then offer enhanced odds to promote certain events and boost the winning potential of recurring customers.
Enhanced Odds
-
Bonus Code
Boost your winning potential from 5% to 100% with your accumulator bets of 4+ to 20+ selections!
-
Bonus Code
Betwinner gives you a 10% winning boost on the Accumulator of the Day, a selected. Visit the site to see the daily offer.
-
Bonus Code
The Superduper bet is a daily single bet with odds enhanced by up to 20%! Check the daily offer and let the odds be in your favour!
Bookmaker odds are available in a number of formats: fractional, decimal, American and Asian. There are tables which show how to convert the odds from one format to another. The fundamental mathematics are the same for each format: a book is made by compiling odds which offer value to the customer while having a built-in profit margin for the bookmaker. The odds are not set in stone and there could be enhanced odds for an unpopular outcome to attract bets.
Making a Book
A bookmaker compiles betting odds for a market on the basis of the theoretical probability of each outcome. There is a built-in margin but odds change. However, if odds for one outcome shorten, the odds for one of the other outcomes will lengthen to maintain the margin. A profitable book is called over-round and an unprofitable book is called under-round. A bookmaker would soon go out of business if his markets were consistently under-round.
Each odd in a book equates to a percentage. Here are the calculations for a sample the odds:
- For Evens the calculation is +100/(1 + 1/1) = 50%
- For 2/1 the calculation is +100/(3 + 1/1) =25%
- For 4/1 the calculation is 100/(4 +1/1) = 20%
- For 9/1 the calculation is 100/(9 +!/1 = 10%
The percentage for the book is 50 + 25 + 20 + 10 = 105%.The book is over round because the total percentage exceeds 100%. The odds compiler had made a book with a 5% theoretical margin for the bookmaker. However, the odds offer enough value to encourage bettors to place bets.
With betting odds, bookmakers quote prices for things to happen during a sporting event. Betting odds reflect the probability of outcomes of sporting events in India. The most popular betting ...
Basic Example
A simpler example of a book is the odds on the toss of a coin. There are only two outcomes so the chances of the coin landing on heads or tails are evens. There is a 50/50 chance of each outcome and over time, there should be as many heads as tails.
Any bookmaker looking to make a profit on this market would offer the following odds:
Heads: 10/11 which equates to +100/(10 +11/11) = 52.36%.
Tails: 10/11 which equates to +100/(10 +11/11) = 52.36%.
The book is compiled to 104.72% when the true probability is 50/50 or 100%. Tossing a coin is a simple example of the concept but illustrates how betting margins are affected by enhanced odds. The team to kick-off in a football match has two options and an example of enhancing the odds would make the two outcomes 10/11 and Evens. A disreputable odds compiler would offer 5/6 for each outcome which equates to a margin of almost 110%. These are bookmakers to be avoided when you can back each possible scenario at 10/11 which offers far more betting value which is increased even further by enhanced odds.
-
Bonus Code
Make your first deposit, place your first bet on a minimum odd of 1,50 and you will get a $10 free bet bonus!
-
Bonus Code
Join Betway India. Claim your 100% matched bonus up to ₹2,500 when making a deposit of at least ₹200.
-
Bonus Code
For those who fancy eSports, Betway has you covered. Once again, a 100% match bonus of up to ₹2,500 with a deposit at least ₹200.
-
Bonus Code
Deposit and claim your 100% Melbet welcome bonus worth up to ₹8,000. Place five bets with at least three odds of 1.40 or higher.
Standard Football Odds
The most bet on market across any sport is the three-way match result after 90 minutes in a football match. This market is also known as the 1X2 which is the same as Home Win, Draw and Away Win. The terms are different for a match on a neutral ground as there is no home team and away ream. In Cup matches, the two-way market is for the team to qualify, including extra time and penalties.
The calculation for the margin is consistent across all sports and novelty markets. The objective is to attract bets on each outcome to generate a balanced book which makes a profit for the bookmaker. In reality, one outcome could be more heavily backed so the odds change to make the other outcomes more appealing. That means a book is constantly evolving in line with demand.
Enhanced Football Odds
Bookmakers enhance the odds on one outcome of each potential result. A typical margin for a match in the Premier League is about 105%. Recreational bettors may not notice the variance but big-staking professionals would be attracted by enhanced odds to a margin of 107%. This odds boost would not be promoted as enhanced odds but be a subtle way to attract big bets for which a 2% better margin would affect the bettor’s profitability.
Recommended football betting sites:
Join the court of Royal Panda, claim your ₹2,500 welcome free bet and bet on your favourites!
Join Pin-Up and claim up to ₹25,000 as maximum 125% match deposit welcome bonus.
Join 22Bet and claim a ₹10,000 bonus for your Cricket, Football and Kabaddi bets!
Sign up with LVBet and activate the 100% first deposit bonus up to €50.
Why Do Bookmakers Enhance Odds?
Enhancing odds or odds boosts are marketing ploys by bookmakers to attract bets in a competitive market. These offers are heavily publicised in the racing Press and television commercials. However, the bookmaker may make slight reductions in the other outcomes to maintain the potential profitability of the book. Enhanced odds would be compensated for by some reduced odds.
Some bookmakers offer enhanced odds as part of a welcome bonus. They double the SP of the first winning bet for a minimum stake. In this case the extra winnings come in the form of free bets. The additional profit from the enhanced odds is subject to wagering requirements and odds restrictions. The free bet credited by the enhanced odds would have an expiry date.
There are often new entrants to the online sports betting industry. New names are competing against trusted and established brands. It is difficult for a new operator to gain market share in a mature market. A new sportsbook is often launched at the time of a major sporting event, such as the World Cup. The new bookmaker could enhance the odds of the favourites or one of the countries where they trade. Enhanced odds would be a good incentive to register and place bets.
New on BettingPro:
Examples of Enhanced Odds
There are different types of enhanced odds, for different sports and markets. The basic concept is increasing the odds for an outcome from the standard odds to something that offer more value. Most enhanced odds are event specific so expire once the game has begun or at the end of the game if the enhanced odds are related to an in-play outcome. Here are some common examples of enhanced odds that are usually on events in the most popular betting sports.
Selected runners in a horse race
There are many famous horse races around the world which attract plenty of betting interests. One of the most high profile steeplechases is the Grand National which is run at Aintree Racecourse near Liverpool on the first or second Saturday in April. Bookmakers could enhance the odds of the favourite or a number of bigger-priced outsiders. Stakes could be limited and the extra returns could be paid cash or as free bets.
First, last or anytime scorer
The first, last or anytime scorer in a football match is a popular bet. It is a speculative proposition so offers the potential for a decent win for a small stake. The leading scorer for a team would be about 5/1 in these markets. Most punters would be looking to back this outcome but these are bets bookmakers are happy to take. That means one bookmaker would buck the trend and enhance the odds to 6/1. That represents a price increase of 20% and a good incentive to bet.
Match outcome in a football match
There are many high profile football matches that are shown live on television. The biggest betting league is the Premier League in England, the Champions League final is the most important match in Europe and the World Cup final every four years is huge for the sport. These matches would have enhanced odds because the betting markets are highly competitive. Different bookmakers may enhance the odds on the match winner or team to lift the trophy in a Cup match.
-
Bonus Code
Boost your winning potential from 5% to 100% with your accumulator bets of 4+ to 20+ selections!
-
Bonus Code
Betwinner gives you a 10% winning boost on the Accumulator of the Day, a selected. Visit the site to see the daily offer.
-
Bonus Code
Get a winning boost of 3 to 30% when combining 3 to 15 events in one bet coupon and at odds of 1.30 or higher.
-
Bonus Code
Combine more than 3 bets in your accumulator and 24Bettle will boost your winning potential by 3-100%!
Match winner and anytime scorer
Bookmakers combine the match winner and anytime scorer from the winning team. These outcomes are related so the odds on offer would not be the combined odds for each event. If a player scores in a match, the team has a better chance of winning than the original odds. Bookmakers enhance the odds because these are good bets to take. The enhanced odds would be somewhere between the regular combined odds and special odds for the double.
Outright winner of a golf or tennis tournament
Outright betting on the winner of golf and tennis tournaments are popular. A golf event is typically played over four days from Thursday to Sunday. There is a cut after 36 holes when a limited number of players qualify for the third and fourth rounds. Tennis tournaments take place over one or two weeks. The odds fluctuate after each round so enhanced odds are used as an incentive to bet on certain players at the start of the tournament.
Enhanced odds are usually offered to maintain the loyalty of existing customers or new players to register for the opportunity place bets at enhanced odds.
You might also like:
eSports betting in India is growing in popularity at a rapid pace. This relatively new form of ...
In this comprehensive tennis betting guide, we’ll take an in-depth look at every aspect of this fascinating ...
The most convenient and popular form of entertainment in India is online casinos and online betting. Online ...
The Indian Premier League (IPL) is a Twenty20 competition that takes place in India. The interest in ...
Enhanced Odds FAQ
Bookmakers set a market by applying betting odds to each potential market. The odds are complied to have a built in profit margin for the bookmaker. Bettors back their selection and specify the stake. The returns from winning bets are the stake multiplied by the odds plus the stake. The objective of making a book is to attract business on all the options so the bookmaker makes a profit regardless of the outcome. In reality, this is rarely the case.
The online betting industry is highly competitive and bookmakers attract bets by offering the best odds. There are few variances in the odds which means bookmakers offer promotions. The most common promotions are extra places, Best Odds Guaranteed, free bets, money back specials and enhanced odds. For example, if an outcome is generally 6.00 some bookmakers may increase the odds to 7.00.These are enhanced odds for the result of a sporting event.
Online sportsbooks offer betting in pre-match, in-play and ante post markets. The odds are issued before the match and the prices are relatively uniform. Extra places are offered for major horse racing handicaps and new customer offers and ongoing promotions may include free bets. A bookmaker may wish to attract bets on one particular outcome if they have taken many bets on one or more of the other results. The best way to attract bets is using enhanced odds for an outcome.
Some enhanced promotions increase the odds for a favourite to win to 34.0. In this case stakes are strictly limited to as little as 100 INR. For any bets over 100 INR, the return is based on the standard odds and not the best odds. These offers are usually event specific, such as a high profile cricket match in the Indian Premier League. The enhanced odds introduced in the days before the match begins and are taken down when the match begins. Enhanced odds do not apply to live matches.
There are different types of enhanced odds offers. An Acca Boost is akin to enhanced odds because bookmakers boost the profits from a winning accumulator. There is a sliding scale for the number of selections and the percentage profit boost. There is also a limit on the extra profits that result from the additional return from an all-correct accumulator. The winnings are paid in the form of betting funds and not free bets. There are no wagering requirements or odds restrictions for bets placed using the Acca Boost increased profit.
Enhanced odds are subject to specific and general Terms & Conditions. These terms are clearly publicised in the Press or on the bookmaker’s website. The Terms & Conditions are generally in the following areas:
- Odds enhancement.
- Maximum stake.
- Enhanced odds event.
- Enhanced odds selection.
- Combining enhanced odds with other promotions.
Enhanced odds are usually offered for major sporting events, such as the IPL final cricket and Champions League final in football.
Enhanced odds are on offer with many online bookmakers. The offshore operators that accept bets from India that we promote often have enhanced odds for major sporting events. Bookmakers like Betway or Royal Panda will increase the odds for one of the outcomes. These offers are promoted on the company website and on affiliate sites. The bookmakers that offer enhanced odds may run other promotions but the two offers cannot be combined in one transaction.
Enhanced betting odds are a loyalty promotion to maintain the patronage of existing customers. They sit alongside other ongoing promotions that are sport and event specific. Enhanced odds complement the welcome bonuses offered by bookmakers. Some bookmakers offer generous welcome bonuses and fewer offers for current players. There is a choice between taking advantage of a generous welcome bonus but no enhanced odds or a more modest sign up offer and better enhanced odds.
