The payout rate calculator requires you to enter the odds offered by a bookmaker for the three possible outcomes of a match. It calculates what percentage of the total amount received as stakes the bookmaker pays out as profits for the bettors. This calculator helps you estimate the competitiveness of the odds offered by the bookmaker. The payout rate (also called payback rate) may vary by bookmaker, league and match. The payout rate of most bookmakers is usually between 90 and 98%, but more and more bookies offer odds with a 0% margin (that is, a 100% payback rate) for certain matches in order to promote their service.
You can also use the calculator in another way. In the three fields, you can enter the odds offered by two or three different bookmakers and check if you can achieve a risk-free profit through arbitrage. And if searching for arbitrage opportunities on a market of an event with two possible outcomes, you should use the double chance bet calculator.
Note: The term "risk-free profit" should not mislead you. Profit gained through arbitrage is risk free only in theory but not in practice. There are various factors that contribute to the risk. For example, after you have placed your first bet, it may turn out that the other bookmaker has changed its odds for the event meanwhile, and you would not be able to carry out your plan. In this case, your initial bet remains uncovered, and your money is at risk. Of course, you can still close the position and eliminate the risk, but under the new conditions, the return of the whole operation may be with a negative sign.
The odds in the formula are in decimal format.
If p >1, placing three separate bets for the following amounts guarantees a profit of a certain amount regardless of the result of the match.