What Does 100 Unit Bet Mean

Units are a normalized way to to compare win amounts between bettors while removing the stake size. Units are commonly be a percentage of bankroll or a fixed value.

If you are making picks for money, then the amount you are risking should be a function of your total budget and how comfortable you are with the prospect of losing the money you risk.

If you are risking a couple bucks per pick, comparing your results with your buddy that is risking hundreds per pick is a pretty useless comparison. In dollar terms, it’s like comparing apples and oranges – there is no point.

However, the amount of money involved doesn’t speak to how successful you are with your picks compared to your buddy. If you both make picks in the same 10 matchups, you might end up picking 8-2 and up a little bit, while your buddy picks 6-4 and is up a lot! If we remove the money aspect, you are still picking better than he is!

To put everybody on the same page, a common denominator is used, referred to as units.

• Odds expressed in terms of money, with $100 being the standard. If the odds are minus (–), then that amount of money must be wagered to win $100. –150 means you must bet $150 to win $100.) If.
• Representing odds in units of $100 makes placing different size bets easy; if you want to bet $10 on the Giants, you stand to earn $30 if they win, while a $40.50 bet on the Cowboys will net you an additional $10. What does the bottom row of numbers and letters mean? The final line of information in our example line is the over-under.
• Sep 04, 2014 Dime: Jargon for a $1,000 bet. If you bet 'three dimes,' that means a $3,000 wager. 'Dog: Short for underdog. Dollar: Jargon for a $100 bet. Usually used with bookies; if you bet 'five dollars.

Suppose a gambler has a 63 unit gambling bankroll. The gambler might bet 1 unit on the first spin. On each loss, the bet is doubled. Thus, taking k as the number of preceding consecutive losses, the player will always bet 2 k units. With a win on any given spin, the gambler will net 1 unit over the total amount wagered to that point.

The money you use to make picks is referred to as your bankroll.

Let’s assume it’s 200.

Most handicappers generally advise to make your unit size equal to 1% of your total bankroll. 1% of a 200 bankroll is 2, so that’s our unit size, and we have a total of 100 units in our bankroll. Make sense so far?

For those 10 matchups you and your buddy picked winners for, let’s assume that the odds for each matchup were 2.00 to keep things simple.

You decide to risk 1 unit on each matchup, so you’re risking 20 in total (10 picks * 2 per unit). You went 8-2 on your picks, so you received the 16 back that you risked on the winning picks, and you also receive 16 back as profit. You risked 20, and were returned 32 which gives you a profit of 12. Because your unit sizes are 2 each, you are said to be up 6 units, even though you’re only up 12 in dollar terms.

Say your buddy has a bankroll of 10,000, and a unit size of 100. He also risks 1 unit per pick, so he’s risking 1,000 in total (10 picks * 100 per unit). He went 6-4 on his picks, so he was returned the 600 that he risked on the winning picks, plus the 600 in profit for picking 6 winners. He risked 1,000 in total and received back 1,200, so his profit is 200 in dollar terms. However, in unit terms, he is said to be up 2 units, as he uses a unit size of 100.

Bottom line? You are up 6 units, and your buddy is up only 2 units, so you outclassed him this time despite the fact that he actually has 188 more than you in dollar-value profit!

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.

What Does 100 Unit Bet Mean Math

Learning Point: There is NO connection between the market odds of a bet and the real probabilities of the event occurring.

What Does 100 Unit Bet Mean Absolute

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.

What Does 100 Unit Bet Mean Means

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: