In sports betting, odds are a pair of numbers displayed with each bet line. Betting odds are used to calculate the probability for a certain outcome to occur and to calculate how much money you can win.
Example: A quota of 1.80 means that if you bet $10, you will win 10 x 1.80 = $18 (- your stake).
When you start a sportsbook, you soon realize how important the odds are. Basically, the odds are the one’s responsible for your profits as a sportsbook owner.
Odds need to be updated in real time especially for live betting where a simple delay in updating the odds can get very expensive for the owner of that particular online sportsbook. In order to avoid such situations, our sportsbook software has been tested for thousands of hours so it performs at the highest standards even during high traffic hours.
As an online sportsbook owner, you will be able to customize the odds by accessing the odds and events module. Using a rule-based odds adjustment system, you could manage the odds to make them more competitive or less competitive according to the situation.
Odds can be changed for entire sports, particular markets, events or type of bet. For example, if you consider that your online sportsbook can offer lower prices on soccer then by implementing a new rule in the odds adjustment system you could lower the odds for the entire soccer market. In addition, if you want to offer lower prices for Bundesliga for example, you could add a new rule over the already implemented rule that will lower the prices even further but only for the Bundesliga market.
For an online sportsbook, it’s important to have control over the odds as at the moment, many websites offer various services for comparing odds and the most competitive odds are usually promoted.
The Events module that our online sportsbook software integrates is used to search events by dates, teams, leagues, sport or country. Operators can manage various events or create new events with customized odds and bet lines.