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Understanding market percentages

You most likely would have heard presenters on Sky Racing or Racing.com lamenting about a country meeting where the bookmakers have opened up the market at say 140%. Often they say it to explain why the odds for each runner are so low, or why every runner is drifting in the market. But what do these percentages really mean?

Let’s show you an example of a real previous race to explain market percentages.

This was Gold Coast R5 on Sat 22 Nov, a Class 5 1400m handicap.

Early Bet365 & Sportsbet prices were taken at 5.30pm on Fri 22 Nov, the day before the race.

The market percentage applied to each runner is calculated by dividing 100 by their odds. So with number 1 Sigmund, 100/$3=33.3%, and with number 9 Rosey Joan, 100/5=20.0%.

Now if you had proportionally backed each runner to win $100 with Bet365, due to the market percentage of 124.4%, you would have outlaid $124.40 to get back $100. This is clearly a poor bet, and shows why the higher the market percentage is, the greater the bookmaker’s advantage is, and the more difficult it is to beat the bookmaker long term.

Incredibly, because the two bookmaker prices were so different, even in this early market by taking the highest possible price with each bookie, this gave you a market percentage of 97.7%. This actually means you could potentially have backed every runner in the race for a profit. This is called arbitrage.

As you can see, the total spend on the race would have been $97.70, for a $100 return and a $2.30 profit. Note that given this race was the day before the race, scratchings and deductions could have come into play, but for now understanding the concept of market percentages, and how they are calculated, is what’s important.

The best way to get the market percentages in your favour, is to use an Odds Comparison Platform, to ensure you are always getting the best odds with your bets.

Smart Odds Comparison

The team at Smart B have been working on an ambitious project over the past 18 months to build and deliver the best odds comparison service in the market. 

They have engaged several very successful punters, including our own Dean Evans, to provide feedback on what punters want, and the features required to provide the best possible platform.

The Smart Odds Comparison (SOC) is not just another odds tool — it’s a constantly evolving platform designed to give punters an edge.

Some of the features include:

🔹 Real-time fluctuations with live odds updates from more bookmakers than any other odds comparison platform in Australia, plus the 3 totes and Betfair

🔹 Customisable layouts to suit your preferences for a personalised experience

🔹 Access to Historical Data including fluctuations and highlighting of price movements for deeper insights into whether a horse is firming or drifting, allowing you to identify market trends and make more informed betting decisions

🔹 Blackbook Functionality

🔹Covers both horse racing & sports

Most importantly, this platform has been built by an organisation with a team of IT Developers. One of the biggest gripes received regarding other odds comparison tools, platforms and websites is that once they launch they never improve, there are little to no improvements made, they stay the same and feedback is ignored. Smart B are very different, in that they are wanting feedback and are wanting to build as many of the features desired by smart punters as possible. They aim to continually improve the Smart Odds Comparison tool every week based on feedback. There is already a list of items being worked on to continue to make the SOC the best in the business. 

Currently Smart Odds Comparison offers Odds Comparison for all Horse Racing, Harness Racing & Greyhound Racing. They also have sports including NRL, AFL & cricket, and are even expanding into Futures Markets for both Horse Racing & Sports.

Smart B are very generously offering all Winning Edge Investments readers the opportunity to try the Smart Odds Comparison (SOC) for FREE for 1 month.

If you're serious about getting the best odds and maximising returns, we strongly suggest taking advantage of the complimentary 1-month trial. Other odds comparison tools lack innovation, and don’t evolve — leaving you missing out on better odds and bigger profits. That’s why the Smart Odds Comparison (SOC) is different. The SmartB team is always updating, improving, and adding new features to give you the most accurate, customisable, and punter-friendly experience. SmartB actively engages with their users and are constantly looking for feedback to improve and deliver the most accurate racing odds and more on one platform. Plus they have the most bookies available!

Test-drive the Smart Odds Comparison (SOC) for FREE for an entire month with the following Promo Code: WINNINGEDGE25

It is then $29.99 per month ongoing if you wish to continue after the 1-month trial, but you can cancel anytime. 

👉 Grab Your Free Trial Today: Sign up to Smart Odds Comparison here