where oddi is the bookmaker’s odd for event i and probi is the probability that event i will happen.If Vi >1 then there are winning chances, but if Vi <1 then no betting goes on.But the most challenging and widespread betting setup is online betting on European footballmatches, where live stats are updated on the website along with odds for future events from the game. Inthese cases, in a certain minute of the game, time left in play is estimated based on the referee’s inclinationto give added time. Time left in play, teams’ style of play, events produced and other elements allow thepunter to calculate certain, personal probabilities with which future events may happen. If theseprobabilities are superior to the odds given by the website, then bets are placed. In this situation, whenthe punter places more bets on different events, the above-mentioned formula is added up for all bets.
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