I’d like to share my first public app which can be useful for sport bettors. It calculates the theoretical margin (%) of a given sportsbook market, based on the bookmaker’s odds (manual odds input needed):
You might wonder why was it needed, since there are quite many margin calculators available (a random example below, from the first page of google search results: https://oddsscanner.com/calculators/margin-calculator). Well, there are 2 general issues with basic margin calculators:
- They are focusing only on standard market types (e.g. 1X2, Match Winner). My app can be used to define the margin of special market types, like Double Chance.
- They usually calculate the overround, instead of the margin. Overround and margin are usually very similar numbers, but they are not the same, as margin = overround / (1 + overround) .
Hope you’ll find it useful.