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How accurate are the Germany - Bundesliga odds?

The closing prices of 1,576 finished games since Fri 13 Aug 2021, set against what happened: the chance the market gave, with the bookmakers' margin removed, next to how often it came in. A record of what the market did, not a tip.

The market's record

1,576 games, 2 bookmakers
  • Closing favourite won 54% 856 of 1,576 games
  • Market Brier score 0.570 0 is perfect; a coin flip scores 0.667
  • Average closing payout 94.4% 100% minus the bookmakers' margin
  • Games covered 1,576 Fri 13 Aug 2021 to Sun 11 Oct 2026

2 of the 1,578 games finished in that time are left out: no bookmaker had a closing price on every outcome.

Market chance against what happened

0-10% chance: happened 6.1% of 180 selections 10-20% chance: happened 14.2% of 683 selections 20-30% chance: happened 25.5% of 1,809 selections 30-40% chance: happened 34.4% of 730 selections 40-50% chance: happened 43.7% of 584 selections 50-60% chance: happened 57.4% of 303 selections 60-70% chance: happened 66.5% of 215 selections 70-80% chance: happened 79.5% of 146 selections 80-90% chance: happened 84.7% of 72 selections 100% 0%
Market said 0%100%
Happened
Market chancePriceSelectionsMarket saidHappenedDiff
0-10% 10.00 or longer 180 7.2% 6.1% -1.1 pts
10-20% 5.00 to 10.00 683 15.6% 14.2% -1.4 pts
20-30% 3.33 to 5.00 1,809 25.5% 25.5% 0.0 pts
30-40% 2.50 to 3.33 730 34.7% 34.4% -0.3 pts
40-50% 2.00 to 2.50 584 44.7% 43.7% -1.0 pts
50-60% 1.67 to 2.00 303 54.9% 57.4% +2.5 pts
60-70% 1.43 to 1.67 215 64.5% 66.5% +2.0 pts
70-80% 1.25 to 1.43 146 74.6% 79.5% +4.9 pts
80-90% 1.11 to 1.25 72 84.0% 84.7% +0.7 pts

Every priced outcome of every game is one selection. "Market said" is the bookmakers' average implied probability with the margin removed; "Happened" is how often that outcome came in. On the diagonal the market was right on average; above it, that kind of result happened more often than the prices said. Bands with fewer than 30 selections are left out.

Home, draw and away

OutcomeMarket saidHappenedDiff
Home win 44.7% 44.0% -0.7 pts
Draw 23.5% 24.9% +1.4 pts
Away win 31.8% 31.0% -0.8 pts

The market's average closing chance for each outcome over all 1,576 games against the share of games it won, settled on the regular-time score. "Home" is the first-named side.

Bookmaker accuracy

lower is better
BookmakerGamesBrier scorevs market averagePayout
Unibet 1,314 0.560 -0.002 94.0%
Bet365 1,535 0.573 +0.005 94.7%

Each bookmaker's own closing prices, margin removed, scored against the results of the games it priced; "vs market average" compares it with the bookmakers' average on the same games, so a negative figure means its prices were the closer. Bookmakers with fewer than 50 priced games are left out. Differences of a few thousandths are noise; a much higher score usually means the bookmaker's last price was captured well before the start, so it is the price in our archive being scored, not the trader.

Odds accuracy FAQ

How accurate are Germany Bundesliga odds?
Across 1,576 finished Germany Bundesliga games since 2021, the closing favourite won 54% of the time. The market's closing chance, with the bookmakers' margin removed, gave the home side 44.7% on average and home wins happened 44.0% of the time. The bands above show the same comparison price by price: a well-calibrated market has outcomes happening about as often as its prices say.
What is a Brier score?
The squared distance between the chances a bookmaker's prices gave and what happened, averaged over games: 0 would be perfect foresight, and on a three-way market a coin-flip price scores 0.667. The market average's closing prices score 0.570 in this league; the lowest single bookmaker is Unibet at 0.560. Differences of a few thousandths between bookmakers are noise, not skill.
Does a well-calibrated market mean the odds cannot be beaten?
Calibration says the market is right on average, not on every game. A band where outcomes happened more often than the prices said is where the closing market under-priced that kind of result over these seasons, which is often the draw or the outsider. The bookmaker's margin, about 5.6% here, still has to be cleared: the closing line value calculator shows what a price needs to beat.