The Different Types of Football Betting Odds that You Should Know About13/09/2020 14:20
Sports betting is coming now that many sports events are set to come back and continue like the EPL, the IPL, and the NBA. Many football leagues including Women’s football are also set to return in the next few weeks.
With this, sportsbooks operators are going to be swamped with football odds. For sure, many football fans are not only looking forward to watch their favorite leagues but are also looking forward to place their bets. Whether you’ve wagered on football before or you haven’t, you can claim new free bets at BettingOnline to prepare for the coming football events.
Football betting isn’t exactly hard to do if you’re already used to wagering on other sports. If you’re new to betting at all, you should learn how the odds work though before placing any bet. This way, you will have an easy time understanding the numbers that bookies present when you visit their site.
If you don’t know what odds are, we’ll have that covered for you. Here are the different types of football odds that you should know about.
This is the most common type of odds that bookies display on their sites. However, this is more popular in countries like the United Kingdom. This is just really frequently used throughout the history of British sports betting.
This type of odds is displayed with a slash. For example, it appears as 10/1 on websites. This allows you to know how much money you will win based on your bet. For this example, the number 10 is how much you will win. While the number 1 or the number on the right is how much you’ll need to bet in order to win that amount of money. If you win the bet, you’ll get the wager you placed back and the amount that you’re supposed to win.
This is also commonly used by many bookies, but for punters, they prefer this if they want to easily understand how much they will make if they place a bet towards a certain odd. This is also called as European Odds because this is popularly used in European countries. Countries like Australia, Canada, and New Zealand are also known to use this type of odds more.
It is much easier to estimate how much you could win if you are presented the decimal odds. You just need to multiply the initial amount to the wagered odds. The answer is the profit you will make if in case you win on your bet. For example, if you placed a one-dollar bet for a team and the odds is at 2.00, this means that if you win, you’ll get 2 dollars or twice as much as the bet that you placed.
American Odds or Moneylines
Also called the US odds, for this, the teams are divided into two categories. These are the favorites and the underdogs. Based on its name, this is also mainly used in the United States and never really used in the UK betting markets.
What you need to remember when you’re looking at this type of odds is that the favorite player or team is always labeled with a negative sign before the number. Meanwhile, the underdogs will be labeled with a positive sign. For this, the absolute value will tell you much profit you can make for every 100 dollars.
For example, if you place a bet on a team with the odds of -100 (a favorite) and you win, you’ll get your wagered amount and also profit an extra 100 dollars. And so, in total, you’ll be bringing home 200 dollars.
These are the three main types of odds that you should know about if you’re just starting to wager on sports. While UK-based bookies prefer using fractional odds and European countries mostly use decimal odds, there are bookies out there that would allow you to choose the type of odds you’d like to see on your screen.
You just really need to know which type of odds you’re more comfortable looking at and that’s when you can shop around for bookies to know if they are offering the type of odds you are looking for. It is very important that you know this as this is one of the basic bits of knowledge you should have when placing a bet on football or any sports at all.
Once you know how to read odds, it will be much easier for you to strategize when it comes to placing your bets. It will also be easier for you to know which bookie is offering the better or even the best odds out there.