[Yesterday 2:04 PM] Alessandro Guiotto
Undoubtedly, football is the biggest sport in the world and because of this, millions of people bet on matches – especially big league matches, such as the Premier League, La Liga, Ligue One, Serie A and Bundesliga. However, knowing football is one thing – knowing all about football odds is what will help you make those big wins. So –let’s find out a little more…
Football odds can also be known as fixed odds. These are calculated numbers that can help bettors know how much they stand to win when making a particular bet.
You will find the odds represented as numbers and these will help you figure out how much you will win if you bet a certain amount – let’s look at exactly how it works:
You log on to your sportsbetting account to bet £20 on a football game – Man City v Tottenham. The odds for your game read 3/2 for Tottenham. This means if you bet £2 on Tottenham you will win £3. Therefore, if you bet £20 on Tottenham, you’ll win £30 plus your £20 stake returned – so £50 in total. If you look at the same example in decimals, you will get odds of 2.50. Therefore, if you bet £20 on odds of 2.5 you can work your overall return out by multiplying the numbers – £20 x 2.5 = £50 (£30 winning + £20 return stake)
You can find two different types of odds
This is the type of bet where your winnings will be lower than the amount that you bet originally. It is often the case when you bet on the favourites. They don’t offer big returns, but are easier to win and work well in accumulators.
Example: If you bet on Man City in the game against Tottenham, the odds may well be 2/5. This means that if you bet £50, you’ll get a win of just £20 – lower than the amount you originally staked. If you make these bets, because the return isn’t great, you need to be as sure as you can about the bet.
This is where you win more than your original stake – so essentially you are betting on the underdog. These are bets that offer higher returns, but as such, the risk is higher. This is the case if you take the bet for Tottenham against Man City. You are risking £20 to win £30.
Remember though, different bookies offer different odds for matches, so make sure you check out the different bookies to get the odds that are best for you.
Depending on where you are from and the bookie you use, odds can be represented as fractional, decimal and moneyline odds. You can use online converters, but it’s good to know how to compare the different odds.
Here’s an example where you are betting £100 on a game.
Fractional: If the numerator is higher, then it’s an odds against bet and your return will be higher than the stake. If you bet £100 on odds of 2/1, you’ll get winnings of £200 plus your £100 stake – so that’s £300 overall.
If the numerator is lower, it’s an odds on bet. So, if you bet £100 on odds of 1/2, you’ll get winnings of £50 (£100 / 2) – plus your £100 stake – that’s £150 return overall.
Decimal: If the number is above 2.0, then it’s an odds against bet – which means you are betting on the underdog. So, if you bet £100 on odds of 2.5, you will get a return of £300 – your original £100 stake plus £200 winnings.
If the number is below 2.0 then it’s an odds on bet – which means you are betting on the favourite. So, if you bet £100 on odds of 1.50 then you’ll get a return of £150 – your £100 stake plus £50 winnings.
Moneyline: One area we haven’t touched on yet is Moneyline odds, which are commonly used in the US, but can be seen on UK and European betting sites. These are given in hundreds and are accompanied by a plus or minus sign. If the number is accompanied by a plus sign, this shows how much you will win if you bet £100. However, if it’s accompanied by a minus sign, it shows you how much you need to bet to win £100.
Example: If you see moneyline odds of +150, if you bet £100 you’ll win £150 – so your overall return will be £250 (£100 stake plus £150 winnings). Therefore, if you bet £200 on odds of +150 you’ll get winnings of £300 (£150 x 2), plus your stake back of £200. So your total return will be £500.
The formula is as follows: Potential Profit = (odds/100) x (stake)
The negative number shows how much you would need to bet to win £100 – and these bets represent the favourites / odds on bet.
Example: If you see moneyline odds of -150, then you need to bet £150 in order to win £100. Therefore, if you bet £75, then you will get a win of £50 and an overall return of £125 (£75 stake plus £50 winnings).
The formula is as follows: Potential Profit = (stake) / (odds/100)
Many people to begin with simply place their money on market winner. However, when you know more about the game you can look into different markets. You can bet on the winner – but with a handicap. This means that you can get more value if betting on a firm favourite. Want to bet on Man City beating Huddersfield? It’s not worth your while betting on the win, but betting on a Man City win with a -3 handicap makes it more interesting – as you get your money back only if they win by more than 3 goals.
You can also find odds on events in the game – such as Both Teams to Score; who scores the first goal; the number of cards; send offs; winning from behind. Different online bookies offer lots of different odds for all sorts of markets. So, when you know what you want to bet on, check out the different bookies and get the best odds and prices.