Unlike popular belief, football betting is so much more than just luck and a few good guesses. The main thing that influences your profit is the odds assigned to each team in a certain match.
Generally speaking, odds simply represent the probability of that particular team finishing the game with a specific score. Hence, the bookmaker basically accepts your bets against the odds they’ve placed. For a better understanding of this principle, it’s important to know the three types of odds that you’ll encounter when betting on football, online or in real life.
The first type is known as decimal odds. Although primarily connected to football betting in continental Europe, many betting sites tend to allow conversion for a better betting experience.
Decimal odds start with a 1 unit bet and aim to show you how much money you would win with this stake. For a more precise wager, bookmakers usually narrow the odds to two decimals. Imagine a decimal odd of 1.50 with a 1 unit bet. It will win 0.50 units, should you choose to bet against these odds. Considering this, the conclusion is that the higher the odds, the greater the gain, and the risk and vice versa. Still, if you want take your chances against some high decimal odds, you can always pick up some promo codes to get you on your way. A final point about these odds is that the winnings include the money wagered, which would mean that our bet from earlier can get you a total 1.50 units.
Another type of football odds is fractional odds, commonly found in the UK. These follow the same 1 unit principle as decimal odds, but they just express the profit bettors will make from such a wager instead of the total win. To illustrate this, we can take a 3/1 fractional odds for a certain team. Should you choose to bet against these odds with 1 unit, your profit would be three times per the single unit stake, i.e. 3 units. A key point to remember about fractional odds is that if the fraction displays a value less than one – let’s say 2/4 – the bettor would have to risk more money for a lower gain. In this particular case, the bet would be 4 units and the winnings would be equal to just 2.
The final kind of odds is American odds, and they’re mostly known as money lines. Unlike the previous two types, American odds are based on a 100 stake. These function with a system of positive and negative symbols. Namely, the positive odds express the profit from a 100 stake, while the negative ones show how much you need to risk in order to make a profit of a 100 from the relevant bet. So, if your chosen football team is at -150 odds, you would need to risk 150 in order to win a 100.
Once you learn how to shift between the three types of odds, you’re good to bet.