Have you ever wondered how bookmakers calculate the winning probability of Liverpool over Manchester United or how many numbers of goals a game will end with? Well, it is not magic, but some simple analysis bookmakers use for their betting business.
And after producing this data, they set the odds for the gamblers when you bet online. So. if you want to play like a professional football wagerer, understanding the odds and how they work is vital.
So, in this article, you will know some basics regarding football betting odds to boost your winning chances.
Basic football betting odds
The Higher the odds you offer on a specific match bigger your payout will be. The first thing football bettors should know, there are three types of betting odds.
The most popular one in the UK is fractional odds, and in European countries, it is decimal odds. American bookmakers prefer Moneyline odds.
If you want to play like professional bettors, it is crucial to know the distinctive traits of each odds and how they function.
The decimal odds
It is the most widely used odds among all due to its straightforward manner that targets the bettors from the countries like Europe, Australia, and Canada.
The decimal odds show two decimal places like 1.5 or 2.0 and so on. And the best part about the odds is bettors will get a return just by multiplying the stake they have earned by the odds. Although you should know the winning money will be the original stake you invested on.
The Moneyline odds
Moneyline odds, aka American odds, can be shown as either a positive or negative value. The positive number explains the profit you may earn betting on $ 100, while the negative value is how much you have to bet on to win $ 100.
The +150 odds mean betting on $ 100 will give you $ 150 winnings plus the betting money of $ 100. And the -150 odds explain you need to wager on $ 150 to get the return of $ 100 plus the initial wagering of $ 150.
Besides this, football bettors should know the even-money equivalent is expressed by +100.
The Fractional odds
It is the most traditional one famous across the UK. You need to understand the basic calculations of the payouts and profit margin. Initially, it may look tricky, but the basic rule is simple.
These odds are shown as fractions, like 3/1, 6/4, or 5/1. So, if the odd is 6/4, you may win 6 units for every 4 units you wager.
Find out the odds with good values
It is necessary to find the odds that come with good values. The best strategy is to compare the odds offered by bookmakers. And for this, you need to invest a little effort in analyzing the differences. You will not find a huge difference between the bookmakers. But it is a useful technique to get better odds.
Every football bettor should know there are two types of odds, odds against and odds on. At odds against, the bettors will earn larger than their stake, and in odds on, the profit will be smaller than the stake they have invested. So, it is important to learn statistics and rules before earning some real money from betting.