Football Betting Odds
If you want to bet on a football tournament or football game in general, you may want to know more about betting odds. Betting odds not only show the amount of profit a bettor can gain but also imply the expected possibility that a team can win a match. Understanding football betting odds is important if you want to bet on this exciting sport profitably.
Thus, to help you in your goal, this article will provide you some information about betting odds and as provide you some tips to take advantage of betting odds for profitable online betting.
What are Betting odds?
Statistically speaking, the odds are the number of times a favorable event happens in relation to the number of times it does not happen. In other words, they are relative probabilities.
Football betting odds are the probabilities that your favorite team will win ac compared to the probabilities that it will not win.
In the past, bookmakers mostly set odds and they set odds in a way that the sum of all possible outcomes exceeds 100%. The excess will then be their profit.
However, with the advent of the internet, odds are now being set by bet exchanges, which are similar to equity exchanges. This is where bettors can trade with the others more directly so that the odds are set by the whole market and are closer to the true odds.
Types of betting odds
Fractional Odds or UK Odds
This is the net total paid out to the winner in relation to the stake. For example, 6/1 Odds means if a player wagers and he wins, he will gain in profit.
This is popular in Europe, Australia, Canada and most betting exchanges
Decimal odds are represented by the total amount paid out to winners per wager including the wager itself.
Example: Odds 2.5 means if a bettor wagers and wins, the payout is .5. This still includes his and thus the profit he gained is .5.
This is popular among Americans.
The quote in this case can be either positive or negative. The quote is a straight-up amount of money.
• Positive figures: the amount of money won on a 0 wager. Example: A quote of +120 means a player can make a profit of 0 if he wins on a wager of 0
• Negative figures: the amount of money bettors must be wager in order to win 0. Example: A quote of -20 means that in order to get 0 of profit in case the favorite team win, a bettor must wager .
• Even odd can be quoted as either +100 or -100
Betting odds conversion:
• Fractional odds can be converted to decimals by converting the fractional number to decimal then add 1. On the contrary, you can convert decimal odds to fractional odds by subtracting 1 from the decimal number then convert them to fractional number.
• Moneyline odds can be converted into decimal odds depending on whether it is positive or negative. Positive figures are converted by dividing it by 100 and adding 1. Negative figures can be converted by being removing the minus sign, then taking 100 to divide by that amount, then adding 1.
Betting odds are very important in football betting, so bettors should study them carefully before wagering. In addition, you should also check if they are set fairly or not when you bet on the result of a football match.
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Joey de Dios is a freelance writer who specializes on online gaming such as football, poker, bingo and online casino gaming. She manages several online gaming guide sites to help players enjoy online gaming at its best.
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