What are football betting odds? A comprehensive guide to football betting odds
Betting is currently a popular and widespread form of entertainment enjoyed by players worldwide, with sports betting being one of the most attractive areas which bookmaker gives the best odds .Enjoying betting is one thing, but understanding football betting odds to consider placing accurate bets is another. Players need to understand that the core of their betting activity lies in grasping and analyzing football betting odds. Therefore, before placing bets with their own money, players should understand what football betting odds are, how they work, and their common forms. The initial information about football betting odds may be confusing for new players if they cannot find reliable sources, so this article will compile and provide you with basic and understandable information about football betting odds.
What are football betting odds?
Football betting odds are simply numerical representations of the odds of winning/losing or winning/drawing for a match or tournament. Football betting odds can exist in various forms:
After selecting football betting odds, players and bookmakers can use them to calculate the amount won or lost after the match or tournament result is announced. Additionally, the numbers in football betting odds sometimes indicate the probabilities of which team is favored or underdog or some specific characteristics of matches depending on the nature of the sport that players engage in betting on. Moreover, if observed closely, football betting odds at bookmakers from the time they are announced until the tournament takes place will constantly change.
How do football betting odds work?
Typically, before each match or tournament is about to take place, bookmakers will announce a table of football betting odds with many different types of football betting odds. Depending on the nature of the sports, football betting odds will also be adjusted accordingly. The player's task is to closely follow those football betting odds, analyze, compare, and calculate to decide whether to place a bet. Usually, if the player predicts that the final result of the match or tournament matches and meets the football betting odds provided by the bookmakers, they will decide to place a bet.
A small note is that many best bookmaker apps also have features that allow players to choose how to display football betting odds that they find preferable and easier to bet on. Therefore, if encountering a confusing football betting odds table, try to find this feature on the homepage of that bookmaker.
Common forms of betting odds
Football betting odds exist in many common forms through different numerical representations, among which players will easily encounter the most used types of football betting odds such as:
Decimal odds
Currently, decimal football betting odds are considered the most popular form of football betting odds worldwide. It has become a standard method for players and bookmakers to easily determine football betting odds. These football betting odds are particularly popular in Europe and Asia.
Definition of decimal football betting odds
Simply put, decimal football betting odds will let the player know the amount of money they can receive back on each unit they have placed as a bet. Decimal football betting odds always provide players with answers about the amount of bet they have placed from the beginning instead of just providing the amount of money the player can win like other football betting odds.
An easy-to-understand example is, if the amount of one unit is around 10,000 VND, with decimal football betting odds of 3.5, the player will receive 35,000 VND back, which includes 25,000 VND of profit and 10,000 VND of the bet amount that the player initially placed. Conversely, if in the case of losing the bet, the player will lose the amount of money equal to the capital they initially placed (i.e., 10,000 VND).
Fractional odds
Fractional football betting odds are particularly popular in Europe, especially in countries like England, Wales, or Ireland. Initially, fractional football betting odds were not widely applied to all sports. It was primarily used in horse racing, but later, fractional football betting odds were expanded and favored more by participants in betting.
Definition of fractional football betting odds
Fractional football betting odds are simply an expression of the profit and the bet amount that the player has placed, and they are linked. For example, fractional football betting odds of 3/2 mean that the player will place 2 units of bet to receive 3 units of profit. The significance of the numbers is as follows: The number on the left side of the fraction signifies the profit that the player will receive (in case of winning the bet), and the number on the right side of the fraction signifies the bet amount that the player has placed.
An easy-to-understand example for you: If the player chooses fractional football betting odds of 3/2, it means they have placed 20,000 VND as a bet, and the profit received is 30,000 VND, so the total winnings they will have is 50,000 VND. Conversely, if the bet is lost, the player will lose the bet amount of 20,000 VND.
Basic football betting odds you should know
There are many attractive football betting odds that you may have seen many times but may not fully understand. In Vietnam, some common football betting odds can be listed as follows:
Asian Handicap odds: Asian Handicap odds aim to compare the strength of the two participating teams. It also has other names such as handicap or over-under odds. Currently, this type of bet is also diversified to attract players through the development of additional odds such as: over/under odds, card odds, penalty odds, corner odds, or even handicap odds.
European odds: European odds are simpler and easier to play than Asian Handicap odds. It follows the general formula of 1x2. In which, 1 means that the player believes the Home team will win, 2 is when the player believes the Away team will win, and finally X is the draw between the two teams. Basically, European odds will depend only on the final result of the match.
Over/Under odds: Instead of caring about the match result or comparing the strength between two teams, over/under odds only focus on the total number of goals scored by both teams. Over means the total goals scored are higher than the odds set by the bookmaker, Under means the total goals scored are fewer than the odds set, and the best online bookmaker offers odds accordingly. Over/Under football betting odds usually include: 0.5, 0.5/1, 1, 1/1.5, 1.5/2, ...
What makes a good football betting odd?
A good football betting odd is the one that provides the most appropriate corresponding value for the amount of money that the player has placed as the initial bet. Besides, players must have knowledge and research about matches before tracking the football betting odds table. When they understand the strengths, achievements, skills, and power balance between two teams, they will be able to find a suitable football betting odd.
Usually, before tournaments, football betting odds are often released in large numbers. Therefore, if the player understands which two teams will participate and masters the information about them to analyze, compare, and calculate the football betting odds, they will find out any inconsistencies or may apply an elimination method to find the best football betting odds.
Conclusion
Above are the most basic information and explanations about the concept of football betting odds, the operation method of football betting odds, common forms and types of football betting odds, as well as some experiences to choose the most reasonable football betting odds. Hopefully, the article has helped you gain a deeper understanding of football betting odds and become an expert in this field.
