If you are interested in learning the basics of football betting odds, you might want to take some read down below. Football betting is a thrilling hobby that many avid football fans engage in. With that said, they are not only enthusiastically involved when their favorite teams are playing; they are also thrilled and excited about the outcome of their bets based on the odds.
And for you to become a more confident beginner, understanding some necessary details and rules about football betting odds must be your first goal. With that said, take a look at these useful tips below to understand the basics of football betting odds to become better at betting.
Learn To Read Football Betting Odds
One of the first things to learn when you are starting to bet on football is knowing how to read some football betting odds. Betting odds give you a measure of a probability of a result, and you must be able to understand it.
In doing so, you can have a quick grasp of which teams have a higher winning chance, which teams are prone to losing, and which teams are most likely to have a Draw result.
Kinds Of Football Betting Odds
There are three types of betting odds that bookmakers use. They are British Odds or “Fractional Odds,” European Odds or “Decimal Odds”, and American Odds or “Moneyline Odds.” Different bookmakers use different betting odd formats, and you must understand these three types of odds to make sure that you know how to read them.
The British Odds
For British odds, the forward-slash symbol or “/”is used. For example, the odds for Arsenal (home) versus Chelsea (away) are the following: Home: 8/1, Draw: 5/3, and Away: 3/10. If you bet on the Home Team, you will earn 8 dollars every 1 dollar of stake. When you bet on a Draw, you will earn 5 dollars for every 3 dollars of stake. And if you bet on Away Team, you will only earn 3 dollars every 10 dollars of stake.
The European Odds
For European odds, the decimal point symbol or “.” is used. For example, Arsenal’s odds of winning the match are 1.52 versus Chelsea, which is 2.20. If you placed a $100 bet on Chelsea and won the game, 100 dollars will be multiplied by Chelsea’s odds, which is 2.20. Your earnings will be $220. Not bad at all!
The American Odds
For American odds, they use the minus sign or plus sign to indicate each team’s odds. This format shows you how much they need to bet to win $100 and how much you will earn if you bet $100.
For example, Arsenal is playing against Chelsea with the following odds, -110 for Arsenal and + 220 for Chelsea. A negative or minus sign indicates that Arsenal has a higher chance to win the match. And a plus sign means Chelsea is more prone to losing. If you bet $110 (-110) for Arsenal to win the game, and they did, you will win $100. But if Chelsea wins your $100 bet, the bookmaker will give you $220, which is Chelsea’s odds (-220).
Football Knowledge And Odds
Though the odds may be critical indicators about which team has the higher winning percentage versus which team will most likely lose, it is still imperative for bettors to study each team’s star players, regular players, coaches, history, etc. Relying on odds alone may not fill the whole perspective of predicting a game’s outcome. Right knowledge about every team will be an important factor to add when trying to conclude a better prediction.
One must be fully aware of each competing team’s playing style to grasp better when deciding to bet. Being updated about recent injuries is also key to assessing the probable outcome of particular matches.
Studying critical details like team stats are also crucial elements when predicting outcomes. The home team may have a high scoring chance, but the away team has a higher defensive percentage than the former. Details like these must be taken into account to have a more confident prediction.
Learning how to read betting odds and knowing each team’s vital information along the way will give you a boost in confidence when you are about to engage in football betting. Remember to consistently expand your football knowledge and enhance your betting strategies to increase your winning odds in football betting.