Odds Overround
The Odds Overround list is one of the windows in a Race View document. The Odds Overround list shows the percentage overround for each betting operator when all the odds are added up. This is the adjustment the bookmaker makes from what they believe are the true odds so that they can ensure a profit. See The Mathematics of Bookmaking for more information.
The lower the overround the more fair the odds are for the punter. If the overround is positive, the value will be displayed in orange if it is in the range 0-20% and red if it is above 20%. If the overround is negative, an exceptionally rare circumstance leading to a Dutch Book/coherence in which the punter can guarantee a profit, the value is shown in green.
The columns in list have the following values:
Win |
The overround of all the Win odds for each operator. |
W5F |
The overround of the win odds for the first five favourites for each operator. This is only really useful as an indicator of how much the favourites are fancied compared to the rest of the field. |
Plc |
The overround of all the Place odds for each operator. This value is then divided by the number of places the operator pays. |
P5F |
The overround of the place odds for the first five favourites for each operator. |
In the list of betting operators there is also a "Custom" entry. This is the calculated overround if the best odds from each operator are used. While this may occasionally show a negative overround, it is difficult to achieve as it includes the Tote odds which may change even after the race has closed. The Custom place overround is also not always accurate as different operators often pay a different number of places so the calculation is impossible.
Note too that the overround for an operator may be abnormally low if there has been a recent scratching but the odds have not yet updated from that operator (i.e. the overround figure does not include the scratched runner's odds but the operator's odds were posted when the runner was still active). You may be subject to a deduction on winnings if you place a bet and there is a subsequent scratching not factored into the odds.
It is advised to have accounts from more than one operator so that the overround you are playing against is the lowest possible.
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