SHORT COURSE HANDICAP
By Peter Dennis, USGA Assistant Director of Handicapping and Course Rating
Four beginners gather at the No. 1 tee of their city's developmental "short" course. They've been playing for about a month and are beginning to feel comfortable enough to enjoy some of the game's competitive aspects. Just before the first player hits that first tee shot, one of them asks a question: "What is everybody's handicap?"
Understanding margins can have an enormous impact on whether you have won or lost money at the end of the season. As 1×2 markets tend to be the most popular, this article shows you how to calculate margins on 1×2 odds.
The equation for calculating margins on 1×2 odds is quite simple:
Margin = (1/Home Odds) + (1/Away Odds) + (1/Draw Odds) – 1
Step One: The first step in calculating margins on 1×2 odds is to convert each 1×2 market into a “decimal chance of winning”. That’s the equation inside each set of brackets above: (1/Odds).
Example: For the first week of the Premier League, Pinnacle Sports offers Arsenal at 1.388* to win at the Emirates against Sunderland, who are offered at 9.870*, with the draw set at 5.050*.
For the home team, in this case Arsenal, the sum is (1/1.388) = 0.72 (which symbolises a 72% chance of winning), while the draw is (1/5.050) = 0.198 and underdog Sunderland is (1/9.870) = 0.10.
Step Two: Now simply substitute the numbers above into the rest of the formula to calculate the margin.
Example: Margin = (0.72) + (0.10) + (0.198) – 1. Therefore the margin is 0.018 – or 1.8%.
Calculate 1×2 Margins Automatically
The other way to do this is to use Pinnacle Sports’ Multi-Way Calculator that can quickly calculate this for you.
Open the calculator, select “1×2′s”, and enter the odds – 1.388, 9.870 and 5.050. The Calculator will then tell you that the “percent market” is 101.98% and the “theoretical hold” for the bookmaker (assuming balanced action in proportion to the odds) is 1.94%.
Pinnacle Sports publicises its margins as it the best odds online, and therefore has lower margins than its rivals. If more people understand that better margins allow them to win more, more customers will be attracted to Pinnacle Sports’ best-in-class odds.
1×2 Margin Comparisons
The same game has seen another popular bookmaker offer odds of Arsenal (1.36), Sunderland (6.5) and a draw (4.33). Using Pinnacle Sports’ Multi-Way Calculator, this works out to a huge margin of 12%, which is more than six times more expensive than Pinnacle Sports.
In practical terms, this means that if you placed a £100 bet on Sunderland to win on the 1×2 market you would have won £330.70 more playing with Pinnacle Sports than by placing the same bet with another major online bookmaker.
Everyone price shops to save money on petrol or car insurance, so why not for the best odds? By giving players better value than other sports books, Pinnacle Sports is the only choice for sharp bettors.
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