Football Betting Odds Explained
As it turns out, currently, wagering on football has turned into a well-loved way of amusement for a bevy of the gambling enthusiasts. This comes as no surprise considering the fact that football or soccer as it is also referred to outside the USA, is one of the most exhilarating and unpredictable sports. What is more, football remains one of the most intense sports which sometimes can be quite suspenseful, and can leave you on the edge of your seat. This imparts the sport a specific appeal and explains why it is just the sport which attracts the biggest betting action.
Football is easily the most preferred sport by punters also due to the fact that it gives them the chance to choose between a broad variety of betting opportunities. Gambling operators undoubtedly strive to see punters right as they give them the chance to select from an abundance of wagers. Still, in order to make sure that you will be able to get the most out of your sports betting session, in the first place, you should make sure that you have accustomed yourself to all the specific aspects of football betting. For that reason, a good idea might as well be to take your time to learn more about some of the basic football wagers.
Other than that, if you want to ensure that you are well aware of the manner in which football betting works, you should also take your time to learn more about the different odds formats. Gaining even a basic knowledge of odds will undoubtedly help you become a successful football bettor due to the fact that you will be able to appraise what is the probability of your stake to become a winning one and whether it offers a good value at all.
Basics of Football Betting Odds
Perhaps, one of the most intrinsic things you should not forget about football betting odds is that they are utilized in order to show the amount you will sweep after making a winning bet. Thus, the higher the odds you are offered on a specific football matchup are, the bigger the payout you might potentially enjoy will be. Other than that, odds are also utilized in order to show the likelihood of an outcome to occur. In this vein, a more probable outcome will have lower odds, and vice versa, a less probable outcome will have higher odds. That is the reason why more often than not you might stumble upon gamblers who refer to odds as a price of a wager.
Football bettors should accustom themselves to the fact that there are two types of odds, precisely odds against and odds on. As for odds against, the biggest peculiarity about them remains that they indicate that the amount you can potentially pocket is larger than the stake you have made. When it comes to odds on, however, gambling enthusiasts should expect that the amount they can potentially win is smaller when compared to the stake they have made.
It is worth noting that when your bet is more likely to turn into a losing one, this is a prime example of odds against. As for odds on, such bets might be slightly tricky due to the fact that you will be compelled to run the risk of staking a larger amount than the amount you might sweep. A typical example of odds on would be wagering on the supposed favorite.
Main Odds Formats
Once you have found out that the underlying principle of odds is uncomplicated, you can set about with the crux of the matter. In the first place, football bettors should be aware of the fact that odds can be displayed in three main formats which include decimal odds, American odds, and fractional odds. Perhaps, one of the most arduous things you should do when you wish to become a successful football bettor is to remember all the distinctive traits of each of the three odds formats and the manner in which each of them functions. Despite the fact that at first, this might seem to you as a strenuous or even impossible task, once you take your time to read more about this, you will see that it is not that sophisticated as it sounds.
Decimal Odds
Decimal odds doubtlessly remains the most widely utilized format of the three. In fact, this manner of displaying the odds can be found at the better part of the interactive bookies with the only exception being operators which target gambling enthusiasts from the United States. It is true to say that one of the most obvious reasons why decimal odds are the most popular ones is that this is the most straightforward manner in which odds are expressed.
Interestingly enough, this format is closely associated with football bettors from Australia, Europe, and Canada. The most important thing you should remember about this format remains that odds are shown using two decimal places as for example, 2.0, 1.5, and so on. It stands to a reason that decimal odds are the most straightforward format of the three due to the fact that punters can get the potential return they may enjoy simply by multiplying the stake they have made by the odds. Still, football bettors should remember that the potential return they will obtain comprises their original stake. Thus, if we assume that you have made a stake of $100 at odds of 1.50, this will mean that your potential return will be $150 (100 x 1.50 = 150).
Gambling enthusiasts should also be aware that if they wish to get their potential profit, they just need to subtract 1 from the value of the odds. Thus, the equation will look like this: stake x (odds – 1). Another thing which is crucial is that odds of 2.00 represent even money. As long as the odds exceed this value, this means that the odds are against. In the event that the odds are less than this value, this means that they are on.
Moneyline Odds
Moneyline or American odds is the next 
format we will pay more attention to. As the name implies, this manner of displaying the odds is most popular with football bettors from the United States. At first, it might throw you into confusion due to the fact that the odds might have a positive and a negative value.
Perhaps, the most confusing thing remains that the positive sign reflects the potential profit you may enjoy in the event that you make a stake of $100. Thus, if we assume that the odds of one of the football teams are +200, a winning stake of $200 will grant you $600. It is important to note that this amount includes the initial stake you have made. In other words, the formula you need to make use of in order to get your potential profit looks like this: stake x (odds / 100).
As for the negative sign, football bettors should remember that it indicates the amount of money they need to wager in order to have the chance to win $100. Thus, if we presume that the odds are -120, this will indicate that a successful bet of $120 will grant you $100, meaning that the punter will get a total of $220. If we assume that the scenario is slightly different, and you have decided to make a stake of $100 at odds of -200, this would mean that the potential return you might eventually collect is $150. The formula you should stick to this time looks like this: stake / (odds/100).
Another important thing football bettors should take into account is that according to this format, the even-money equivalent is represented by +100. Thus, the negative sign will indicate odds on, whereas the positive sign will reflect odds against.
Fractional Odds
As for fractional odds, it is considered that this is the omnipresent format which can be found in almost every bookie on the territory of the United Kingdom. Still, recently, decimal odds have gradually started to oust fractional odds. In fact, gambling enthusiasts are slightly reluctant to utilize this format due to the fact that estimating the payout and the profit might turn out to be quite a tricky undertaking. One of the most important things football bettors should remember is that this format reflects the potential profit they might enjoy. When it comes to the possible payout, gambling enthusiasts simply need to add the amount of the stake they have made.
Despite the fact that at first glance, this format might seem slightly overwhelming, you should not worry about this as once you figure out the manner in which it works, your betting session will go like magic. As the name implies, the odds are displayed via fractions such as 5/1, which is pronounced five to one. These values indicate that football bettors might pocket five units for every single unit they stake. If we assume that the odds are 6/4, this would mean that you will have the chance to sweep six units for every four units you have decided to run the risk of wagering. This time, the formula you should make use of looks like this: stake x (numerator/denominator).
As you can probably guess, in this format the even-money equivalent is represented by 1/1. Thus, in the event that the numerator is a number which is larger than the denominator, this would be odds against. In other words, this will mean that your profit will turn out to be more substantial than the bet you have made. In the event that the denominator is a number which is larger than the numerator, this will be odds on. This will indicate that your stake is bigger than the profit you may eventually enjoy.
What is Implied Probability
Implied probability is yet another term we should expound as this is yet another essential aspect of soccer betting. Gambling enthusiasts who are dead set on gaining some more substantial profit over the long term should make sure that they have accustomed themselves to the difference between odds and probability. Despite the fact that odds and probability are bound up, in practice, the odds might not have a bearing on the chances of something to take place or not.
It is important to note that probability might be expressed either via percentages or via decimals. In the event that percentages are utilized 100% indicate that something will definitely take place, whereas 0% shows that this event is unlikely to occur. In the case with decimals, the values range between 0 and 1.0.
In some cases, calculating the probability might be as easy as pie. This is the case with the toss of a coin simply because there are only two possible outcomes, meaning that the probability of each of them is 50%. When it comes to wagering on football, however, thе situation changes as there are many things that should be considered. In other words, this means that football bettors simply cannot estimate the probability accurately.
Gambling enthusiasts should apply themselves to understanding that when it comes to football betting, gamblers can use the odds in order to determine the implied probability of a specific outcome to take place. Thus, bettors will have the opportunity to figure out what is the edge of the bookie, and also to find out whether the wager they are planning to make brings good value at all.
Now, let’s assume that you have decided to make a stake on a football match at odds of 2.00, and you wish to estimate the implied probability. In order to do so, you simply need to divide 1 by the value of the odds which in this case would mean that you will get 0.5. In order to make things more clear, we will use percentages, meaning that you should multiply 0.5 by 100. Thus, you will get that the probability is 50%.
It is important to note that we are trying to make things as simple as possible which is why we have decided to provide precisely this example. In fact, if the probability was indeed 50%, there would not have been a point in making a bet due to the fact that the chances of your stake of becoming a losing one or a winning one are equal.
What is Value in Football Betting
Expected value is yet another term we should pay special attention to due to the fact that it has to do with the amount of money football bettors can expect to pocket from the stake they have made. Punters should bear in mind that if their stake has a better chance to become a winning one than the odds indicate, this means that it has a positive value. In the event that your stake is more likely to end up as a losing one than the odds reflect, this would mean that the bet you are making has a negative value. Needless to say, gambling aficionados who wish to make a profit will need to make stakes which have a positive value.
Now, let’s provide as an example a coin toss in which the chances of each of the outcomes are equal. Let’s assume that the odds of heads are 3.00, whereas the odds of tails are 1.50. Thus, if we assume that you have decided to make a stake of $10, in the first case a winning bet will bring you $30, whereas, in the second scenario, you will get as much as $15.
Perhaps, now arises the question which scenario is more beneficial to you. The answer to this question is pretty simple as wagering on heads will undoubtedly bring you better results. In fact, such a wager would have a positive value simply because the implied probability is smaller than the chances of winning you have.
As mentioned above, in order to estimate the implied probability of heads, we should divide 1 by the odds and then multiply it by 100, which in our case means that we will get 33.33%. Now, if we do the same thing with the odds of tails, eventually, we will get 66.67%.
Perhaps, now you wonder why we are telling you all these things. Figuring out which wagers have positive value is essential due to the fact that these are precisely the bets which promise to bring you profit down the road.
Finding the Best Value
Football bettors need to know that there are several simple tips that might greatly facilitate the finding of the best value. It might seem like a rather basic tip but it would be better if you wager on football competitions, and teams you are familiar with. Thus, if you have kept an eye on a specific tournament, for example, it would be much easier for you to make the right decisions, and to enjoy more bountiful results.
In this relation, we should not forget to mention that football bettors should not disregard the teams which are considered favorites as well. In fact, many football bettors erroneously consider that since such teams have some quite low odds, they cannot offer positive value. Despite the fact that this is a popular misconception among football bettors, they should not forget that what matters is the manner in which the odds and the probability are bound up.
While football bettors are trying to find the best value they should also endeavor to take into account as many of the factors which can affect the outcome of the matchup as possible. In the event that you fail to do so, you need to know that the judgments you will make might not be quite accurate. That is the reason why it would be best if you take into account factors such as injuries, schedules, the overall condition of the football team you are planning to support, and so on.
Finally, we should also note that when you wish to find the best value, one of the best things you can do is to sign up for an account at more than only one virtual sportsbooks which boast football betting. Thus, gambling enthusiasts will be able to compare the odds bookies offer and to figure out which one offers the most advantageous deals. Despite the fact that in most cases, the difference in the value of the odds is quite small, it may definitely have an impact on your overall profit over the long term. That is the reason why spending only a couple of minutes to make this comparison will repay in the future.