Everything You Need to Know About Betting Odds

Do you often wonder what betting odds are?

It is imperative to know that betting is a way of life, and it has its thrills and fun. It can be exciting and depressing, depending on the outcome of an event staked on. People are making money daily from betting while others are losing.

It is always better to be informed on how to bet and the tenets guiding betting because, in this world of ours, information is power. Various sports can be betted on, including soccer predictions, hockey, and horse racing. The most popular, of course, is soccer betting and the most popular type is the odd.

 

What are Odds?

Odds are symbols of probabilities and calculations which are used to represent a particular occurrence.

There are various types of odds depending on the country you reside and the particular bookmaker you are doing business with. We have three major types, the American, fractional and decimal.

We will discuss basically on the decimal and fractional odds, this is because the American odd type greatly influences the fractional type.

The fractional type of odds are mainly used by American bookmakers and are infractions, an atypical example of this is 1/2, 2/3,1/5,1/7. What this basically implies is if there is a match between LA Galaxy and New Revolution if  LA galaxy is given 1/2, this means that they have a 50% chance of winning the game if the New revolution is given 1/5, that means they have a 20% chance of winning.

However, for the decimal type of odds, what we have symbols of decimals ranging from 1.01 to 100.00 odd. Various events are assigned such decimal odds to show how probably this type of event can occur.

A typical example of decimal odds can be found in, for instance, in a sport like a basketball where Lakers are playing Cincinnati. For a Lakers win the odd might be 1.35 while for a Cincinnati win it can be 8.50 odds, several odds are also assigned to baskets made for and over 79.5( which means for than 80 goals) we can have 3.30 odds and an under 49.5 (which means less than 49 goals),we can have 2.74 odds. Now basically, the higher the odds the higher the risk and possibility of it happening while the lower the odds, the more possible that the outcome will suffice, however, these things, sometimes, can be fuzzy. Why?

You see bookmakers are smart, therefore they may sometimes give favorites huge odds for the following reasons: injuries, suspensions, and form. Therefore it is not always advisable to just pick smaller odds over big odds because sometimes it doesn’t matter.

 

How to Start Betting on Odds

Now that you have identified the various types of odds that are available, the next action is how to start betting on odds and how can these odds be of benefit to you.

To start betting on odds, you have to decide first, if you want to bet on single odds or accumulators. Singleodds are just one odd symbol that a bettor stakes out for a possible favorable outcome.

What this means is that if there is a match between Arsenal and Napoli in a UEFA champions league tournament and the bettor wants to bet on single odd, he will just pick one out of the plethora of odd options available and stake his desired amount, if he favors Arsenal to win and the odd for arsenal to  win is at 2.00 odd and for a Napoli to win is at 3.50 odd and  a possible draw is at 3.00 odd…the bettor will stake probably 50 dollars on the 2.00 odd to win 100 dollars.

However, if the bettor is interested in multiple games and accumulators, he will pick various games ranging on three to 40 games from the available tournaments accumulating up to 20,000 odds and can put 5 dollars to win a possible 100,000 dollars excluding bonuses.

Accumulating odds is what most people play because it has much more gain than single odds, however, it is important to know that by picking more games and increasing your odds, your risk increases, therefore be wise in your dealings.

Also, it is wise to note that different bookmakers have different odds while some are big some are small, it will, therefore, be of benefit to you, if you compare all betting sites and their odds to ascertain the one that is favorable to you

 

Odds Calculation:

To gain an insightful knowledge of how to calculate odds, we have to first of all gain an in-depth knowledge of what chance and probability means.

Let us make a perfect example by using the dice. When a dice is rolled, there is a possibility that it will end in six different positions (1,2,3,4,5,6). Now the probability that it will end in one of these is 1 divided by 6 times 100%, which will give us 16.66%. The probability that you will get your desired number is 16%. Low, right? Yes.

But it is worth the risk. Let us start with the fractional type of odds. If you bet on a team to win, lose or draw at 1/2 odd, how do you calculate your proposed wining?

It is simple you multiply 1/2  by 100% which gives you 50%, that means for your stake to be won you have 50% chance to win and the other 50% to lose. If there is an odd of 1/8, you multiply 1/8 by 100%, which will give you 12.5% chance to win and 87.5 percent chance to lose.

Decimal odds can be calculated like this for a 3.00 odds on an event divided by 100 % gives you 33.3%, a 2.00 odd will give you 50% chance and a 1.50 will give you 60.2 percent chance, and  1.20 odd will give you 80% chance to win. It is not really added, just simple arithmetic.

 

It has been highlighted above what odds are and how exactly they can determine what you win and lose in an event.

However, understand that while studying odds is important, it will be more appropriate, if you check statistics and team forms, because this will go a long way to determine if your stake will come true or not.

Also, avoid playing too many odds as it increases your chance to lose the bet.

Try to minimize your odds and don’t be too greedy, because betting is a game between you and the bookmakers, it will be wise of you to be smart.

 

 

List of The Best Football Prediction Sites

Answering this type of question can be very tricky, this is because betting sites have various advantages and disadvantages and people need differ from each other so knowing the type that is better is relative.

 

 

Before I answer this question I need to give you tips on what to look out to decide which betting site will be best for you

 

List of the top football prediction site

 

 

Odds

Every gambler will want a betting site that has huge odds because it is by these odds that the amount you wager is multiplied. It is therefore advisable to go for a betting site that has huge odds.

 

Markets

Markets are like options which bookmakers display on their platform in which people bet on,it is therefore advisable that a bettor uses a betting site with a plethora of markets, Markets range from straight wins, to handicap, draws ,over and under 2.5 goals, home and away to score either half. Some betting sites offer live markets. Live markets are markets where you can stake on a game that has already started. It is a very interesting market. Choose betting sites that allows you to use many markets

 

Fast Payout

Every bettor is always happy when he wins, because he expects to be paid quickly. Any betting site that can give you a very fast pay out should be patronized. Some betting sites take two to three days to pay out winnings, while some take as fast as ten minutes to pay. Since money is deducted immediately, I wonder why I should not be paid very fast,

 

Cash-out options

This option allows you to withdraw on accumulations which have not been completed but with a limited amount. In this option if you play ten games and eight games is positive, you can decide to cash out some money if you have doubts on the remaining two games. There are deduction that will be made though, but this options is very good

 

Easy and simple platform

Some betting sites are easy to use than others .some make their sites to hard to use that you need help before you can navigate easily in their platforms.

 

Good customer service

A betting site with a good customer service is one that people should patronize. This is because there will always be issues and this issues can only be resolved when there is availability of a patient and soft spoken customer service.

 

Having looked at the criteria which a good betting site should have, let us now look at the best betting sites available around and what they can offer.

 

Ladbrokes Betting Site www.ladbrokes.com

They have good odds and markets

Ladbrokes betting site has been growing over the years from strength to strength and their prices are one of the best in the industry. The betting company is in the UK and they have made a name for themselves by operating responsibly, but it is their online platform that has given them huge fame.

 

William Hill betting company www.williamhill.com

Around 300 markets per match

Unmatchable reputation worldwide

They posses one of the best apps in betting industry

William Hill betting company became synonymous with secure online betting and  exciting coverage of soccer, dog  and horse racing. The British bookmaker makes and extra effort  to keep their international fan base happy and they are clearly succeeding in that quest by giving good prices, regular promotions and over 300 markets on high-profile games.

 

BetOnline betting company www.betonline.ag

Lifetime Bonus reliability up to 28%

They offer $25 free play for live staking

BetOnline betting company offers betting on big American sporting competitions like  NFL, NBA, MLB, NHL, college football and college basketball, with their Betting Edge section offering advice from betting experts. They also offer horse racing and offer free handicap picks every weekend to lucky fans.

 

888sport sporting company www.888sport.com

The offer weekly free bets

They offer good prices on accumulations

You have the ability to cash in on your bets early

888Sport betting company strives to offer  you great value for cash   not only  by  quoting very nice prices, but by also organizing  some of the best promotions you will have ever seen in a betting environment. They have betting for dice, cards snookers and tennis .Their website is very good and simple to use.

 

Betvictor betting company www.betvictor.com

They have options with very enormous odds

They will give your Money Back if any problem occurs

They are one of the industry’s leading odds prices giver

Betvictor reputation has one of the great betting company has soared over the years and most people refer them to as reliable and loyal. They are highly rated and never rested on their laurels. They instead quote the best odds on premier league and European league football, stage regular promotions on the biggest events, pay particular attention to horse and dog racing.

Notable mentions are 1xbet.com, sportybet.com, bet365.com.

 

The list above represents the best football prediction sites. Eventually, the betting site you will choose will depend on what you want in a betting company and what you want the most because no one offers it all. Whichever you choose, bet wisely.