Football Betting & Odds
Betting odds for football and for any other sport are the heart of all betting websites around the world. In simple terms, they are the numbers that ultimately dictate how profitable a gamble can be. Also, this number is directly related to the likelihood of an event taking place.
This is what ultimately divides the wagers into two large kinds, which are:
- Safer bets, which are related to events that are more likely to occur, and therefore, have lower odds, and by consequence, lead to smaller prizes
- Riskier bets, which are related to events that are less likely to occur, and therefore, have higher odds, and by consequence, lead to larger prizes
In the same manner that there are different kinds of odds, there are different kinds of punters. Some people prefer to take a riskier approach, while others tend to go for the safer side. All options are equally valid, and most bookmakers welcome all kinds of players.
How to understand betting odds in football, and how to make the most of them?
Betting odds appear in a very tangible way when making a wager. Every time that a punter decides to review a football match in any bookmaker, usually there will be three numbers. Two are related to the chance of either team winning, while the third is related to the match ending up in a draw.
Speaking about football betting odds explained, the number that the odds represent corresponds to the size of the prize that the bettor can win. Let’s take a simple example. Let’s suppose that a particular betting option has odds equal to 3.00. This means that the prize that the punter will receive will be three times what the amount that they wagered. Putting some numbers to this explanation, supposing that a certain bettor decided to wager $10, the total prize in case their prediction turns out to be true is $10 x 3.00 = $30.
There are no theoretical higher limits for odds. Extremely unlikely events will be related to extremely high odds. On the other hand, odds can be extremely small for events that are less likely to occur. For example, football games where a very powerful team, of the top division of a country, faces an extremely weak team from a lower league, odds can be as low as 1.01 in some cases. As it can be seen from these examples, understanding online football betting odds is extremely easy. It is not necessary to be an expert for understanding them.
How to read betting odds in football, and what do the numbers mean?
The actual process of reading the odds is quite easy. In order to review these numbers people must access a bookmaker, and from there explore what the portal offers in terms of wagers and their respective odds.
One particular thing that distinguishes between sport betting websites are the odds themselves. There are football betting site (which can also cover other sports) that are recognized for having amazing odds. On the other hand, there are also other portals that are well recognized for not having the best odds, which leads to lower profits overall that can be obtained, and makes that bookmaker less appealing for punters overall.
Once a person accesses the football matches, as well as the tournaments featured at a given bookmaker, and when reviewing the pre-match wagering options that they have to offer, usually what will be encountered are three different odds. Two of them correspond to either team being the winner, and the final one is related to the likelihood of that match ending in a draw.
How to calculate football betting odds, and how to know whether they are good or not?
The math behind the calculation of the odds are a secret of each bookmaker. However, many portals offer to their users the chance to calculate the football betting odds of a particular outcome of a specific sports event or championship. Usually they are free tools that are available in most serious bookmakers around the world. Something great about these tools is that they are absolutely free, which means that people only need to subscribe and become members of the sportsbook for being able to take maximum advantage of these tools.
The main reason for using a tool like this, is because it allows punters to determine how profitable a specific wager might be, either when using live betting odds football or pre-match ones. Therefore, this can quickly help people to decide whether they want to pursue or not a specific gamble.
What does value betting on football odds mean, and how is it calculated?
As said during the first part of this article, the number associated with the odds that a particular football match might have is closely related to the likelihood of that event to take place. If a particularly strong team faces a very weak one, the odds of the weak team winning will be very high, which means that this will be a more risky, but potentially more profitable wager. On the other hand, the odds of the powerful team winning will be very low. The odds of the match ending in a draw shouldn’t be ignored either, and for a match like this they will be somewhere in the middle. In this case, the best football betting odds tips is to study the recent performance of the involved squads, and from there determine the best course of action.
Overall, the odds that can result from football matches or from contests of virtually any other discipline are a good parameter that reflects the probability of a certain event taking place. In what matters to every bettor out there, it also indicates how profitable a given play might be. For this reason, it is a good idea to take a bit of time and explore the odds offered by different bookmakers.