This is the sort of thing that can easily pass even veteran bettors by, but it’s so important to know what overround is.

Maybe you’ve heard the term before, maybe you’re totally new to it. But listen, if you’ve ever placed an online bet or you’re even thinking of it, you really need to know what overround is! Trust me, it’ll make your decisions a little clearer once you do get your head around it.

With the help of some frequently asked questions, I’m going to lift the veil on one of the open secrets of the bookies’ world. Without getting into the weeds of too much maths and calculations, this should give you a solid understanding of what an overround is before you place your next bet.

Frequently asked questions about what an overround is

Alright, let’s get right to it. Also known as the bookmaker’s margin, overround is the insurance a bookmaker gives itself so that they get a tidy little profit, no matter what the outcome is.

It’s the sum total of all the odds on an outcome of any one market. And as you should know by now, sportsbooks and any gambling providers will always stack the odds in their favour.

Well not really. In fact, it’s a good thing. You see overround keeps bookies in business. If you like sports betting online or in a bricks and mortar store, you’re going to want them to make a profit so they can keep providing you that service. You need that pre-factored in margin so to keep them in business. Having said that, some bookie’s overrounds are going to be a little more in your favour than others…

Well kind of. Bookies do have to alter the odds a little, so they’ll net a profit whatever happens. They don’t reflect the true chances of a particular outcome. Instead, they mostly reflect the chances of an outcome and build in a little buffer.

Okay, so in order for a bookmaker to make a profit, all of the odds of a particular market have to add up to more than 100%. A good example I can give you when it comes to overrounds is to think about EVS or Evens wagers, like who’ll win, draw or lose a football match. Logically, when you have a bet that’s evens, it’s got a 50/50 chance of winning. You’ll see them in the sports book as 1/1 or 2.00.

But look at the other outcomes. They’ll never also be EVS bets. That’s because the bookie has worked in their margin.

Let’s drill into this a little more. Imagine a tennis match. Player A has 2.50 odds to win, which works out at 40% probability. Meanwhile, Player B has 1.67 odds to win, which is 60%. However, with these calculations, if €10 was staked on each outcome, the bookie would lose €2.50 on one outcome and potentially only gain €1.17 on the other. That’s way too risky for a bookmaker.

And it doesn’t work if the probability comes in at bang on 100% either. They need to make some profit.

Working in a little overround, and the odds might look something like this: Player A with 3.30 odds to win (30.3% probability) , Draw with 3.30 odds to win and Player B has 2.20 odds to win (45.5% probability). Add them together (30.3% + 30.3% + 45.5%) and you’ll get a little over 106%. That means no matter what the outcome, the bookmaker is sure to make a profit of €.60 for any €10 bet.

Why yes there is. The internet is full of tools to help you out and this overround calculator can help you figure out what the overround is of any market you’re thinking about betting on.

It depends on a few different factors, but as a rule of thumb, if your bet has got an overround of less than 10%, it’s deemed pretty friendly for punters.

Actually, yes it is true that an overround is usually more favourable for the punter when you’re betting at an online sportsbook. This is because the overheads of an online sportsbook are usually way lower than a bricks and mortar business. Think about it. They can offer their services to millions of people without paying for premises in a tonne of different places dotted around the country or even the world.

For that reason, you can usually get better value on overrounds when you bet online.

Looking for somewhere? I have a thing for bet365 right now. It’s got a lot of value on offer for punters. Plus it’s got an amazing sign up offer too. Just don’t forget to sign up using this bonus code bet365.

All contents are ©

18+ Worried about your gambling?   Gamcare - When the fun stops – STOP!