The only way you can place great bets is to understand every aspect of online betting. One of the most important things you can learn and understand is how betting odds work. Once you wrap your head around how to read and understand odds better you are already one step closer to placing a better soccer bet. Odds can help you understand which team is more likely to win or who the favourites are going into the match. You can learn how risky a bet might be by checking the odds and knowing what to do.
What are betting odds?
Online sports betting can be daunting, especially if you’re new to the sports betting world. There’s probably a lot of questions running through your mind such as How much can I win? What are odds? What do I need to do to place a bet? These are all valid questions and at the heart of it all are odds.
We have put together a few betting tips and information to help you kick-off your sports betting journey.
Odds express the probability of an outcome in numbers, the higher the probability of the outcome, the lower the odds are and vice versa applies. So if ABC United are playing XYZ FC, and the chances of ABC United winning are high, then the odds will be fairly low because they are the favourites to win the game. XYZ FC will have higher odds because their chances of winning the game are lower. If you bet for the underdog, in this case XYZ FC, then your potential return will be higher as opposed to that of ABC United, hence the expression, the higher the risk, the higher the reward.
Betting odds calculator
To know what your potential return is, simply multiply your stake or bet amount with the odds. If ABC United are tipped at 1.5 to win the game, then this would be your calculation:
- 5 x R100= Potential return of R150
Once you understand this basic principle to sports betting, everything becomes easier from here on. Sports books express their odds in two different methods: odds are either expressed in decimal form or are expressed in fraction form. Whichever format you prefer, you can always change it accordingly to make it easier for you to know what you’re getting in return.
If all that sounds a little complicated we have developed a betting odds calculator that does all the hard work for you.
How do you read positive and negative odds?
Odds can also be expressed in positive (+) and negative (-) form, this is also to indicate whether you’re betting on the favourite or the underdog and also gives you an idea of your potential return.
The negative symbol indicates the favourite team and the number that follows indicate how much you’ll receive if you bet R100. If the symbol is positive, this indicates the underdog and the number that follows indicates the amount you’ll win if you bet R100.
- ABC United – (-140) – This indicates the favourite
- XYZ FC – (+110) – This indicates the underdog
If you bet R140 on ABC United, you’d win R100 plus you’d get your stake or bet amount in return. If you bet on the underdog, XYZ FC R100, your return would be R110 plus your stake back.
Popular markets to bet on
Each sport has its own unique betting markets, however, there are some shared betting markets. Here are a few that may be shared in a few sports.
Popular soccer markets you can bet on include:
- Match Result (1X2)
- Overs/Unders (Totals)