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Indonesian Odds Review

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Betting Odds are a numerical expression of an event happening, typically in a sporting event or horse race. The Indonesian odds represent the likelihood of something happening and something not happening. The most basic betting market is for the toss of a coin in which both outcomes have an even chance of happening and not happening.

There are six different Odds formats, which are mainly used in countries of their origin. The methods by which Odds are expressed are as follows:

Indonesian Odds show the profit from one unit when the Odds are Evens or bigger. They show the stake that must be placed to win one unit when the Odds are less than Evens. Evens or bigger Odds are positive and odds-on odds are negative. Even money is shown as 1.000 because a €/$/£100 bet returns €/$/£200 which is a profit of €/$/£100 plus the stake.

Odds Conversion

The art of bookmaking is to create a market that attracts business while having a built-in profit margin for the bookmaker. A market is said to be over round when the Odds represent a book of over 100%. There is no direct calculation for the Indonesian Odds profit margin in a three-way market. An Odds conversion table shows the odds expressed in Indonesian and fractional formats.

Outcome 11.00001/1100100 divided by (1 + 1) / 1))= 50.00
Outcome 22.00002/1100 divided by (2 + 1) /1)) = 33.00
Outcome 33.00003/1100 divided by (3 + 1) / 1)) = 25.00

TOTAL: 108.00

This book has an over round or theoretical profit margin of 8.00%.

Conversion Table

Here is an Odds conversion table for odds-on, Evens and odds-against.

 

Indonesian -2.00001.00002.0000
Decimal1.502.003.00
Fractional1/2Evens2/1
American-200+100+200
Hong Kong0.50001.00002.0000
Malay0.50001.0000 -0.5000

Examples

Here are examples of Indonesian Odds for three of the most popular betting sports and the most basic betting market, which is the win single:

Football

Home Win2.00002/1100 divided by (2 + 1) / 1)) = 33.00
Draw2.25009/4100 divided by (9 + 4) / 4)) = 30.77
Away Win1.50009/4100 divided by (6 + 4) / 4)) = 40.00

TOTAL: 103.77.

This book is over round or has a profit margin of 3.77%.

Tennis

Player 11.00001/1100 divided by (1 + 1) / 1)) = 50.00
Player 2-1.25004/5100 divided by (4 + 5) / 5)) = 55.56

TOTAL: 105.56.

This book is over round or has a profit margin of 5.56%.

Horse Racing

Horse 12.00002/1100 divided by (2 + 1) / 1)) = 33.33
Horse 24.00004/1100 divided by (4 + 1) / 1)) = 20.00
Horse 33.333310/3100 divided by (10 + 3) / 3)) = 23.09
Horse 48.000010/3100 divided by (8 + 1) / 1)) = 11.11
Horse 57.500015/2100 divided by (15 + 2) / 2)) = 11.76
Horse 69.00009/1100 divided by (9 + 1) / 1)) = 10.00

TOTAL: 109.30.

This book is over round or has a profit margin of 9.30%.

The same calculation applies regardless of the total number of potential outcomes. As a rough guide, a typical betting market will be compiled with a profit margin of about 1.5% to 2% per runner or possible outcome.


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