Football Betting Odds Explained
| Updated: November 6, 2025
As it turns out, wagering on football has become a popular form of entertainment for many gambling enthusiasts. This comes as no surprise, considering that football, or soccer outside the USA, is one of the most exhilarating and unpredictable sports. What is more, football remains one of the most intense sports, sometimes quite suspenseful and capable of keeping you on the edge of your seat. This unique appeal explains why it is the sport that attracts the greatest betting action.
Best Rated Bookmakers for United States-
Claim
$1000
Match Bonus9.718+ New customers only. 100% match bonus up to $1000. Min deposit $50. 10x rollover requirement. Promocode: MYB100 -
Claim
$250
Match Bonus9.4Join Bovada, make your first deposit and instantly receive a 50% Sports Welcome Bonus up to $250. -
Claim
$500
Match Bonus9.3Get a 100% Bonus, up to $500, to wager in the Xbet Sportsbook when you sign up and fund your new account with minimum of $45. Be sure to use promocode XB100 to claim this offer on your first deposit. 7x rollover requirement prior withdrawal. -
Claim
$200
Match Bonus9.2The bonus and the deposit need to be rolled over 4x at min. odds of -200 (1.5) before a payout is possible Max. $200 of every bet count towards the rollover. -
Claim
$150
Match Bonus9.1Get a 150% Bonus, up to $150, to wager in the BetUSR Sportsbook. Deposit minimum $100 and wager at least $500 within 30 days of registerening your account and you will automatically qualify for $150 CASH BONUS with just 1x wagering requirement.
Football is easily punters’ favorite sport because it offers a broad variety of betting opportunities. Gambling operators aim to meet bettors’ needs by providing an abundance of wagers. Still, to get the most out of your session, you should first familiarize yourself with all the specifics of football betting. Therefore, take some time to learn the basic football wagers.
Additionally, to understand how football betting works, you should learn about the different odds formats. Even a basic knowledge of odds will help you become a more successful bettor because you will be able to assess the probability that your stake will win and whether it offers good value.
Basics of Football Betting Odds
One of the most important things to remember about football betting odds is that they show the amount you will receive after a winning bet. Thus, the higher the odds on a specific football matchup, the larger the potential payout. Odds also indicate the likelihood of an outcome. A more probable outcome will have lower odds, while a less probable outcome will have higher odds. This is why bettors often refer to odds as the price of a wager.
Football bettors should also know that there are two types of odds: odds against and odds on. Odds against indicate that the potential profit is larger than the stake. With odds on, the amount you can potentially win is smaller than the amount you stake.
When a bet is more likely to lose, it usually comes with odds against. Odds on can be tricky because you risk staking a larger amount than you can win. A common odds-on situation is backing the favorite.
Main Odds Formats
Once you understand the basic principle of odds, you can move on to the details. Odds are displayed in three main formats: decimal, American, and fractional. Remembering the distinctive traits of each format may seem daunting at first, but after a little study you will see that it is easier than it looks.
Decimal Odds
Decimal odds are the most widely used of the three formats. Most online bookmakers offer them, except those that focus on the United States. They are popular because they are straightforward and easy to read.
This format is common among bettors in Australia, Europe, and Canada. Odds are shown with two decimal places, for example 2.0 or 1.5. To calculate your potential return, simply multiply your stake by the odds. Remember that the return includes your original stake. For instance, a $100 stake at odds of 1.50 returns $150 (100 x 1.50 = 150).
To calculate profit only, subtract 1 from the odds, then multiply by your stake: stake x (odds – 1). Odds of 2.00 represent even money. Odds above 2.00 are odds against, while odds below 2.00 are odds on.
Moneyline Odds
Moneyline, or American odds, is the next 
format we will examine. As the name implies, this display is most popular among bettors in the United States. At first it may be confusing because the odds can be positive or negative.
The positive sign shows the profit you would make on a $100 wager. For instance, if a team is listed at +200, a $100 bet would yield $200 in profit. If you stake $200 instead, your total return would be $600. The formula for profit is: stake x (odds / 100).
Conversely, a negative sign indicates how much you must risk to win $100. If the odds are -120, you need to wager $120 to profit $100, for a total return of $220. If you stake $100 at odds of -200, your total return would be $150. The formula is: stake / (odds / 100).
In this format, even money is represented by +100. A negative sign indicates odds on, while a positive sign indicates odds against.
Fractional Odds
Fractional odds are the traditional format that appears at almost every bookmaker in the United Kingdom. Recently, however, decimal odds have begun to replace them. Some bettors avoid fractional odds because calculating payout and profit can be tricky. Remember that fractional odds show potential profit only; to find the total payout, add your stake to the profit.
Although the format may look intimidating at first, it becomes easy once you understand it. Odds are displayed as fractions, such as 5/1, pronounced “five to one.” This means you would profit five units for every one unit staked. Odds of 6/4 mean you profit six units for every four units staked. To calculate profit, use: stake x (numerator / denominator).
In this format, even money is expressed as 1/1. If the numerator is larger than the denominator, the odds are against, meaning the potential profit exceeds the stake. If the denominator is larger, the odds are on, indicating you risk more than you can win.
What is Implied Probability
Implied probability is another essential concept in football betting. Bettors who want to profit long-term need to understand the difference between odds and probability. Although the two are related, odds do not always reflect the true chance of an event occurring.
Probability can be expressed as a percentage or a decimal. At 100%, an event is certain to occur, while 0% means it will not. In decimal form, probabilities range from 0 to 1.0.
Sometimes probability is easy to calculate, as with a coin toss, where each of the two outcomes has a 50% chance. Football betting is different because many variables come into play, so bettors cannot estimate probability with complete accuracy.
However, gamblers can use odds to determine the implied probability of a specific outcome. This helps them identify the bookmaker’s margin and decide whether a wager offers good value.
For example, if a match is priced at odds of 2.00, the implied probability is 1 divided by 2.00, which equals 0.5. Multiply by 100 to convert to a percentage: 50%.
We chose this simple example for clarity. If the true probability were exactly 50%, the bet would have no edge because your chance of winning equals your chance of losing.
What is Value in Football Betting
Expected value is another key concept because it represents how much money bettors can expect to win or lose on a stake. If a bet has a better chance of winning than the odds suggest, it carries positive value. If it is less likely to win than the odds imply, it has negative value. To profit long-term, you need to place bets with positive expected value.
Consider again a coin toss with equal chances for heads and tails. Suppose a bookmaker offers odds of 3.00 on heads and 1.50 on tails. If you stake $10, a winning bet on heads returns $30, while a winning bet on tails returns $15.
Which option is better? Clearly, backing heads is more profitable. The wager has positive value because the implied probability is lower than the actual 50% chance of winning.
The implied probability for heads is 1 / 3.00 = 0.3333, or 33.33%. For tails, 1 / 1.50 = 0.6667, or 66.67%.
This example illustrates why identifying wagers with positive value is essential: only those bets can deliver profit over time.
Finding the Best Value
Several simple tips can help you find the best value. First, bet on competitions and teams you know well. If you closely follow a particular tournament, you will find it easier to make informed decisions and achieve better results.
Do not automatically dismiss favorites. Some bettors assume that low odds cannot provide positive value, but what matters is the relationship between the odds and the true probability.
When searching for value, consider as many factors as possible that could influence the match. Otherwise your judgments may be off. Always factor in injuries, schedules, team form, and other relevant information.
Finally, open accounts with more than one online sportsbook. This way, you can compare the odds each bookmaker offers and choose the most advantageous price. Even small differences can affect your long-term profit, so spending a few minutes on comparison shopping will pay off.