-
9
ott
leggi in italiano »
Bridge has truly hit the big time. No, I do not mean bridge has been admitted to the Olympic Games. However, bridge is now listed on at least two sports betting sites! The sites are PAF, www.paf.com/betting, an organisation with offices in Finland, Sweden, Estonia and Spain, and Unibet, a Spanish betting site resident in Malta at https://es.unibet.com/betting and the Bermuda Bowl is the game. Italy is, no surprise, the favourite at 2:1; on both sites USA1 is next at 13:4 and 4:1 respectively.
Sweden, The Netherlands and Poland are listed at 15:2, 8:1 17:2 on PAF and all three are at 15:2 on Unibet; USA2 is at 10:1 and 15:1 respectively; Brazil and Israel are at 12:1 on both sites and Bulgaria is at 15:1. China is at 25:1 and Egypt, India and Iceland are at 75:1. Everyone else goes off at 500:1.
While you may believe that, for example, Bulgaria is a better bet than Israel, thefact of the matter is that these are very realistic odds, at least in relation to one another. However, there is a caveat – the “vigorish”, the amount charged by the bookmaker for his services. In North American football, for example, if you lose a $100 bet, you pay off at $110, but win at $100. That is 10% of the losing bets or 5% of the sum of the bets, a very reasonable proposition for the punter. And, what’s more, the vigorish is quite transparent.
It’s quite a different matter for “league” betting, when you bet on one of manyteams to win a league (e.g., the Bermuda Bowl) and the vigorish is hidden in the odds. There, to calculate the vigorish, you need a basic knowledge of the relation that odds have to probability. It’s really quite simple: odds of 4:1 mean that the bookmaker has that team winning one in five times (4 times losing:1 time winning, thus one out of five times). To calculate the vigorish, the first step is to convert the odds to probability. The probability of all teams winning a league (in the real world) sums to 1, or certainty. The amount that the total team probabilities add to more than 1 (in the bookmaking world) is called the amount “over the round” and amounts to the vigorish.
In our Unibet Bermuda Bowl league, for example, Italy at 2:1 translates to a probability of their winning of 0.33 (one in three times). USA1 is 4:1 (one in five) or 0.20; Netherlands, Poland and Sweden at 15:2 are 0.118 and so on.
The next step is to add up all the probabilities for each team. In a true odds/probabilty world, the probabilities would add to 1. In our Unibet world the Bermuda Bowl probabilities add up to 1.257. Thus the bookmaker (assuming a balanced ledger, always a dicey proposition) makes approximately 25% on the total amount bet. This makes league betting a very poor proposition for the punter, but the average punter hasn’t the knowledge or the patience to calculate the true odds.
The betting public in Great Britain, in general, is much more knowledgeable about the true odds on betting than are we North Americans, and would not put up with league betting in the USA, where a vigorish of 50% is not unusual. In England, the amount over the round is more likely to be in the 12-15% range.
John Carruthers
(IBPA Bulletin 2011, October)
***
Related posts:
- Unibet betting odds: Italy favorite for Bermuda Bowlleggi in italiano » According to Unibet – one of the largest online gambling operators in the European market – Italy is the favorite to win the forthcoming World Bridge Championships (Bermuda Bowl). The odds on the Blue Team’s victory...
- John Carruthers: I siti di scommesse quotano la Bermuda Bowlenglish version » Questa volta il bridge ha veramente fatto un colpo grosso. No, non sto dicendo che è stato ammesso ai giochi olimpici, però adesso è stato inserito in listino da almeno due siti di scommesse sportive! I siti...
- Wagering on Veldhoven’s Bermuda Bowlleggi in italiano » On the occasion for Veldhoven World Championships, the Bridge has been put for the first time in list by two important online betting companies: Unibet and Paf. It was possible to wager on Bermuda Bowl winner,...
- Quote Unibet: Italia favorita per la Bermuda Bowlenglish version » Secondo Unibet, uno dei più grandi operatori di gioco online nel mercato europeo, è l’Italia la favorita per la vittoria agli imminenti Campionati del Mondo di Bridge (Bermuda Bowl). La vittoria del team azzurro è quotata 2...
- World Championship in Veldhoven according to John Carruthersleggi in italiano » It is no trivial matter to organise a bridge World Championship these days, both in terms of expense and logistics. One country which always does an admirable job is The Netherlands and such was the case...
- John Carruthers: Appealing leer en español» leggi in italiano » One of the major issues with the appeals process is that there is no jeopardy to a side appealing, whether they are the ‘offending’ side or not. The WBF instituted an appeal...
- John Carruthers talks about Zimmermann’s projectleggi in italiano » John Carruthers is a Canadian top player and a well-known bridge writer. He is the currently Editor of IBPA (International Bridge Press Association) Bulletin. In issue of February 2011 John Carruthers devoted his editorial to the...
- John Carruthers: Bridge & Golfleggi in italiano » Bridge and golf have many similarities, not least of which are the unique patterns of concentration each requires for expertise. Golfers need to concentrate for a short span on each shot, say 45 seconds 70 times...
- John Carruthers: ‘Sportsmanlike dumping’leer en español » leggi in italiano » In law, in most cases, guilt or innocence is not determined by motive. If one breaks the law, motive may be taken into account at sentencing, but not in determining the verdict....
- 40th World Bridge Championships 2011: interview to John Carruthersleggi in italiano » 40th World Bridge Championships 2011 – Veldhoven, The Netherlands, 15-29 October 2011. The World Championships are coming. Neapolitan Club will publish some interviews with experts and protagonists of the event. John Carruthers is the Canadian Open Team’s captain: He introduces...
- Published by neapolitanclub in: 2011WorldChampionship ENGLISH events
- If you like this blog please take a second from your precious time and subscribe to my rss feed!


Notes by Rhoda Walsh on the 1 NT gf response in the "2 over 1 game forcing system" (Walsh System
Mario Martinelli is a Neapolitan excellent player and accredited bridge teacher. He is an expert about systems and he developed the system "Standard BBO Italia". Mario is also the nephew of Eugenio Chiaradia, the creator of the Neapolitan Club, a system which our magazine is dedicated to. 













The great Italian champion Norberto Bocchi will contribute articles on a regular basis to Neapolitan Club. Norberto will refer in his column ‘My Way’ to political issues which may arise in the bridge world and sometimes he will describe interesting hands. 
VALERIO GIUBILO.
FEDERICO PRIMAVERA.
We give a follow up to previous interview with
FULVIO FANTONI

AGUSTIN MADALA
NORBERTO BOCCHI


FRANCESCO ANGELINI'S REPLY
SILVIO SBARIGIA 
Some articles by 

One Response to “John Carruthers: Bermuda Bowl listed on betting sites”
The odds are realistic, right said John, but one is not: USA2 (Bathurst Team), is much stronger than his 15:1, or even 10:1, allows to guess. They were runners up against Fleisher (that’s USA1) in Vanderbilt; in 2011 Trials, they defeated Mahaffey, Nickell, Wolfson, Diamond. In Veldhoven, they are going to be protagonists at least.
Lascia un Commento