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In the same way that a team has a 50% chance of winning when the odds are Evens (or 2 in Decimal odds), if the odds of a team to win are 8/11 (or 1.725 in Decimal), that equates to a 58% chance of them actually winning.

What I am actually saying is when Bet365 predict a team to have a likelihood of winning of 58% (odds of 8/11 roughly), they are wrong more often than they are right.

1.7 is roughly 8/11, 1.79 is roughly 4/5. It is much easier to work out your return using decimal odds. A £1 bet at 1.7 to win will return 70p plus your initial stake of £1. Laying means you are betting against, so to win £1 if Chelsea fail to win at 1.7 will cost you 70p in liability (so you...

If you had layed every home team in the PL that started at odds between 1.7 and 1.79 (at Bet365) in the last 2 seasons and a bit, you would have won your bet 43 times, lost 39 times, made 17.95 points profit at an ROI of nearly 22%. Chelsea's odds are currently 1.72. That said, once the teams...