Reading Odds at UBET Sports — this ain’t fixed odds
Every sports bettor is used to fixed odds. Changing what bettors are already familiar with is hard but let’s aim to do better! In this post, we would like to introduce how to read UBET odds.
How do fixed odds work?
+138 American odds (2.38 European odds) means that for a $100 USDC wager, your max payout is $138 USDC on top of the $100 USDC original wager, which you end up with $238 USDC.
The odds are the same whether your wager size is $100, $1,000, or $10,000 USDC, the max payouts will be $138, $1380, and $13,800 USDC respectively.
This is simple and easy to understand. So why are we not happy about fixed odds?
The sportsbook tends to be more strict on wager sizes due to the intrinsic nature of fixed odds. The sharp bettors like to take big bets. However, the larger the wager size, the more risks the house takes. That’s why bet limits exist in all sportsbooks and surprisingly bet limits differ by bettors. Moreover, having fixed odds usually increases the vig for everybody, because they have to cover everyone’s bets even if someone does large bets. Instead of the house controlling people’s bet sizes in a centralized manner, we have an algorithm that dynamically gives the best odds given a user’s wager size.
In the financial trading world, the price (the odds) depends on your trade (wager) sizes. For example, the more stocks you want to buy, the average price per share will decrease as you eat up the liquidity. The difference between spontaneous and average purchase prices is called slippage.
This is how UBET odds work. On the main page, we show the spontaneous odds which are the odds at zero wager size. In the bet slip, the average odds change with respect to your wager size.
For example, we see that the spontaneous odds for New York Yankees is 1.700. In the bet slip, we see average odds of 1.657 when we add a $100 wager.
Let’s observe what happens to the odds as keep increasing the wager size:
We can see that the odds have changed from $5-$100. The odds moved from 1.657 to 1.648 when we increased from $100 to $1,000 and the odds moved from 1.648 to 1.576 when we increased from $1,000 to $10,000.
Here is the summary of vig:
This is the case for the New York Yankees vs Baltimore Orioles 5/24/2023, 7:05:00 PM EST game. The odds and vig may be different depending on how much liquidity is available for the market.
UBET’s odds system is beneficial for average retail sports bettors and any bettor who would like to bet high as well. It is very painful to get banned from different sportsbooks and find a new one to re-register. If you are a sharp bettor, you must have faced changing sportsbooks over and over again. Maybe this can also be beneficial if you manage your EVs right with our odds mechanisms!
We hope that this gives you a good sense of how our odds system works. Please share your comments, questions, or suggestions on our discord or telegram. We love getting your feedback!
Cheers
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