Sports bettors tend to keep good records of their winnings and losses, those that don’t keep records will at least remember whether they win or lose a bet. Bu there is an even more important number that most of them don’t remember, which is the Betting Units Won. The Betting Units Won is the amount of money a group of plays won or lost after factoring in the juice. It is essentially the margin of profit or loss recorded for any set of wagers. Winning percentage is undoubtedly important but the only reason players bet is to win money and Betting Units Won is the best way to analyze not just if but how much the sports bettor has won.
The calculation for Betting Units Won is simple when you use the following formula. Considering that X represents the odds of the bet, the calculation is X divided by 100 if the betting odds are greater than 0 or -100 divided by X if the betting odds are lesser than 0. For example, if the Pittsburgh Steelers are a three-point favorite over the Baltimore Ravens and the juice is set at -115, then you would use the -115 as the betting odds. Since it is a negative you plug in the calculation as -100/-115, which equals 0.8696. If Pittsburgh wins and covers the spread, you will have won +0.87 units by betting on them. If the Steelers don’t cover, then you will lose one unit.
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The equation listed above isn’t difficult to understand but its importance can often be underrated. The majority of public sports bettors will bet blindly without keeping track of the amount of money they wager as well as the amount of money they win or lose. That can be a major problem because the reality is that in order to make a profit by betting on sports you have to win more often than you lose. Consider the example above. If that bet wins five times, then the number of units won will be 4.348. If that bet loses five times, then the number of units lost will be 5.0. Therefore, if you make that wager 10 times and win only five then you will end up with a negative margin. According to this example, you would have to win six of the 10 wagers in order to make a profit on the wagers and even then it would only be a 0.2158 percent margin.
Many bettors like to stay away from money line based sports because they understand that the more the juice is raised by the sports books the tougher it is to make a profit. The sports books can make a favorite -130, -150 or even -300 if they really want to raise the juice and the reality is that the profit margin when these teams win doesn’t outweigh when they lose. Remember the importance of betting units won when placing your bets at WagerWeb.ag