What Does 100 Unit Bet Mean
May 13, 2020 It’s more impressive to win $150 when betting $10 per game than to win $200 betting $100 per game over the same number of games. We like to encourage a flat-betting approach here, so units should be a fixed value — if you usually bet $20 on a game, one unit for you is $20. If you typically bet $100, one unit is $100. If you saw odds of +150, you would know that a $100 bet could return $150 in winnings, plus the initial stake of $100. If you saw -150, you would know you need to stake $150 to return $100 in winnings, plus the initial stake of $150. An even money wager (where you stand to win an amount equal to your stake) is expressed as +100. Positive Figures (+): The odds state the winnings on a $100 bet. Ex: American odds of +120 would win $120 on a $100 bet. Negative Figures (-): The odds indicate how much must be bet to win $100 profit. Ex: American odds of -120 would win $100 on a $120 bet. Decimals quote the potential return should the bet succeed, relative to.
The only one of these terms which is obviously straightforward is ‘Bet’, and I am sure all of you understand what a bet is.
Even the term ‘Stake’, at least so long as it is money related, is easily understandable.
Whatever level your stake is, there are only two options: you either lose the bet and your stake, or you win the bet, retrieving your stake and adding to it your winnings.
However, the term ‘Odds’ is far more difficult for most bettors, especially as odds are connected to market prices, fluctuations, probabilities, expectations, etc.
Hand on heart, can YOU reliably define the terms “bet”, “odds”, and “stake”?
What is a BET?
Definition of ‘Bet’: Technically speaking, a ‘bet’ is an agreement between two parties that the one who makes an incorrect prediction about an uncertain outcome will forfeit something stipulated to the other – a wager.
Betting is all about risking something, usually a sum of money, against the money of someone else based on the outcome of a future event, such as the result of a race or other competitive event.
What are ODDS?
The term, ‘odds’, is somewhat ambiguous.
Here are two definitions from well-known dictionaries:
Macmillan Dictionary: The chances that are used for calculating how much money you will get if the person or thing you bet on wins a race or competition.
Oxford Dictionary: The ratio between the amounts staked by the parties to a bet, based on the expected probability either way.
The problem with the above definitions (and many other definitions found in dictionaries) is that odds are not necessarily connected to the real chances of something happening, not even to ‘expected’ probabilities.
Just think of British odds, European odds, and US Moneyline odds.
British odds show the net return of a bet, European odds display the net return of a bet plus the original stake, and US Moneyline odds exhibit the money wagered either to win 100 units, or the money which will be won from a 100 unit stake.
Another deviant example is that bookmakers adjust their odds to public opinion in order to balance their books.
Therefore, it is simply incorrect to say that ‘odds’ display the chances of something happening. Odds are not even necessarily based on expected probabilities.
Betting Odds are the Prices for a Bet
Learning Point: There is NO connection between the market odds of a bet and the real probabilities of the event occurring.
What does the term STAKE mean?
Definition of ‘Stake’: Money or property risked on the result of a horse race, card game, match outcome, etc.
Stake (or ‘wager’ in America), is straightforward terminology.
You bet with your friend on a game of pool, and stake £5 each. Whoever wins the game gets £5 from the other party, and whoever loses is £5 poorer.
In betting, the stake (or ‘wager’) usually means money, which is countable.
The concept of stake becomes much more complicated if property is wagered, such as houses, cars, or in some countries even wives! If you gamble property then you not only have to calculate the true probabilities of a bet to compute the odds, but also convert the staked property into a monetary value.
In these cases bets are very often lopsided and unfair, with a huge advantage to the person who is better in maths than the other. (Read an example: Arsenal fan staked his house on a bet with a Manchester United fan, who offered his wife and Toyota car in return )
Bet, Odds, and Stake – Conclusion
The only honest advice I can give – Do not bet if you do not understand odds!
Unless money is no object, few people will go shopping and load their basket with goods without checking and comparing the prices of different brands. Most of us need to ensure we have enough money available to pay for the purchases, and some of us like to ensure we are getting the best value for the money we pay.
Understanding Odds is CRITICAL! If you constantly go shopping without paying attention to the prices (ignoring the significance of odds), or do not bother comparing brands before buying them (failing to shop around for the best odds), you will certainly end up paying more than others (failing to capitalise on your betting investments), and in the long run be able to buy fewer products for your money (losing more money than you win).
Always remember: Odds are the price for a bet, they very rarely stand for the real probabilities, or chances.
Of course, odds available in the market can be converted into their ‘implied’ probabilities, which can then be compared to your own calculations of the ‘real’ expected probabilities, and vice versa.
If you want to become a winner you MUST understand odds and be able to compare and distinguish between the implied probabilities suggested by the odds offered in the market and the real (or true) probabilities suggested by historical statistics. There is no alternative – a lucky gambler is never lucky all the time.
If you wish to learn odds calculation, please check out:
One would think that if a gambler had an endless supply of money to bet with and constantly wagers five or six figures per game, they would have a nickname that sounds a bit more appealing. Instead, these walking ATM’s have the dubious distinction of being called a “whale.”
I guess when you are rich, it doesn’t matter what your nickname is, but I have to believe there are about 20 other nicknames that would be more appropriate for someone who drops $100,000 on a game and doesn’t even think twice about it.
What Does Whale Mean?
When you hear someone refer to someone as a “whale” in the sports betting industry, they are often times talking about a very high-profiled bettor that has a history of making very large bets. Typically, whales have plenty of money to spend, so they won’t lose any sleep over losing a massive five or six-figure bet. “Whales” are considered to be at the top of the pecking order in the betting industry and are often referred to as “high rollers.”
What Does 100 Unit Bet Mean
I wish I could tell you where the word originated from, but it’s one of those things that has just stuck over time. If you think about the ultimate gambling/strategy game, poker, you will notice the use of a lot of aquatic phrases. For example, a bad player is called a fish and a really strong player is a shark. I guess“whale” fits with the theme.
Are Whales Good Bettors?
Just because whales have six (or ten) stacks of money to throw around on random bets throughout the day, doesn’t mean they are good bettors. The majority of the time, they aren’t and are just looking for any excitement they can get and can only bet big because of their massive bankroll.
Sure, winning a $500,000 bet and collecting 454,545 would be a dream to any casual bettor, but a whale doesn’t need that $450,000+ profit to sleep easy. The reason a whale bets big is because they like the attention they get within the sportsbook and even more than that, they like the perks of the sportsbooks. These perks can range from free drinks (definitely free drinks), to limousine use, to private jet use and any other lavish perk you can think of.
If you want to tail a “whale”, your best course of action would be to find someone who has been in the game for a long time. The experience they would have could be good enough to gather a few helpful pointers. After all, if they are still doing it, chances are they are a decent enough handicapper to avoid consistently losing large sums of money.
How Do Sportsbooks React to Whales?
What Is A 200 Unit Bet
If you think for one second a whale could go unnoticed and bet into bad lines, you are sadly mistaken. Sportsbooks know every single thing that goes on in their facility and that includes knowing who the whales are. Sportsbooks will typically accept a whale’s action but will deal with it accordingly. Some whales, who are actually good handicappers, have the ability to shift a line substantially with a single bet. Whales without any serious handicapping skills won’t have much effect on the line, especially when they decide to wager on a game that is very highly bet and has national media coverage.
As a casual bettor, you will very rarely come across a whale that is successful. If you were in a position to wager $50-100,000 on a game, I’m sure you would want to keep a low profile. The successful high rollers go about their business in a quiet manner and draw no attention to themselves. On the flip side, whales such as Floyd Mayweather, love flaunting their riches and their bet slips to the masses. Unfortunately for Mr. Mayweather, his betting record probably has double the amount of losses than his boxing career has wins.
What Does 100 Unit Bet Meaning
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