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How Do Odds Work in Football?

November 2, 2020, 12:30
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How Do Odds Work in Football

Contents

Sports betting is getting more and more popular among players in India. One of the leading sports betting games is football – with so many bets for Indian players to place. However, before you proceed to bet on your favourite football events, you must get acquainted with the odds being offered to you. In this guide, we’ll be discussing football odds, paying closer attention to how it all works.

Football Betting Odds Explained

Being new to sports betting, you need to first gain an understanding of betting odds before you start placing bets on your favourite football games. So, what do odds mean? Odds simply reflect the probability of something happening in a particular sporting event. For instance, the chances of Messi being the top goal scorer of La Liga season.

Over the years, the kinds of bets you can place in football have evolved. Today, not only can you place a bet on the outcome of a match, but you can also bet on the various events happening in a match. For example, the number of goals, the number of corners and lots more.

The way these odds are conveyed differs depending on the betting site that you’re visiting – expressed as either fractions or decimals.

Different Kinds of Odds

As mentioned, there are various kinds of odds in football and they differ from one betting site to another. In this section, we’ll take a look at the various kinds of odds that you need to get familiar with before getting started with football betting.

How Do Odds Work in Football

Decimal Odds

As an Indian punter, the odds format that you will find easier to understand is decimal. For example, you will definitely have no problem with understanding that 2.60 is greater than 2.50. Besides that, when the odds are expressed in decimals, it’ll be easier for you to calculate your winnings. Supposing you bet ₹100 on an event with odds of 2.50, your winnings will be ₹250.

Fractional Odds

Unlike the decimal odds, fractional odds are usually expressed in the format of 14/8 and 6/4, which might seem a bit complicated for most Indian punters. Because of that, calculating your winnings might be a little difficult if you are not quite good at arithmetic. For those punters that would prefer the fractional odds format, here is an easy way to calculate the winnings:

How much to win/how much you bet

In a game, if a team has odds of 4/1, they are considered the underdog with their probability of winning being less likely. In this case, if you place ₹100 on an event with 4/1 odds, it means that you will win ₹400.

Additionally, the odds-on selection will state the team that is likely to win in the game. For example, 10/11 or 3/4. So when you place your bet in the odds-on selection team, your winning will be small because the event is likely to happen. For example, if you stake ₹4 on a bet with 3/4 odds, you will win ₹3.

American Odds

As the name suggests, this kind of odds is common among Americans. The odds will start with either a positive or negative sign, for instance, -110, or +115. The positive sign indicates how much you can win if you bet $100 (₹7,440.60), and the negative sign indicates how much you need to stake to make a $100 (₹7,440.60) profit.

For example, if a bet has -140 odds, it means you need to stake $140 (₹10,416.83 ) before you can win up to $100 (₹7,440.60). On the other hand, betting on +350 means that you need $100 (₹7,440.60) to win $350 (₹26,042.08).

Football Betting Odds Comparison

Decimal Odds Fractional Odds American Odds
1.01 1/100 -10000
1.1 1/10 -1000
1.4 2/5 -250
1.5 1/2 -200
2 1/1 (“evens”) (-)100
3 2/1 200
5 4/1 400
10 9/1 900
101 100/1 1000

How to Calculate Your Football Betting Wins?

When betting on football, you must understand how to calculate your win. Most of those who are new to sports betting will find it difficult but with the right steps, it will get easier in no time. In this section, we will calculate a betting win using an accumulator. An accumulator is several individual bets that are placed together as one. For instance, at 4rabet, we use decimal odds format. So if you want to calculate your winnings with an accumulator, you need to first add the decimal odds together. Supposing your accumulator bets include the following:

  • Barcelona to win: 2.50
  • Juventus to win: 1.20
  • Man City to win: 3.00
  • Chelsea to win: 4.00

To calculate your odds, you will need to multiply them. So:

2.50 x 1.20 x 3.00 x 4.00 = 36

This means that if you place ₹2 on the above accumulator, you will win ₹72 and gain ₹70.  However, if you don’t want to go through the stress of calculating your total winnings yourself, you can use our odds calculator.

How Do Bookmakers Set the Odds?

You need to understand how bookmakers set their odds to know if the odds you’re getting are good or not. Before bookmakers set their odds, they need to first determine the true odds of any event occurring. To do this, bookmakers consider such factors as statistics, prior form, expert opinion, historical precedents and other important factors that can affect the outcome of a sporting event. Once they have determined the true odds of the event, they will adjust their odds before they offer them to punters.

In Conclusion

In this article, we have discussed all you need to know about football betting odds. Now that you have understood how football betting odds work, you can proceed to our site and start placing your bets!

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