Football Odds Explained: What They Are and How to Calculate Them Accurately
When starting out in sports betting, many people may encounter some difficulties in the process of choosing and calculating the betting odds. Understanding sports betting odds plays a crucial role in determining the outcome of a bet. While it may sound complex, calculating betting odds is actually relatively easy. Let's delve which bookmaker gives the best odds the issue through the following article!
Understanding Some Basics About Sports Betting Odds
Sports betting odds are specific numbers provided by bookmakers for players to choose from. To obtain these numbers, bookmakers must build related data about the match such as the lineup, the form of each team, and the weather.
Betting odds will inform players of the potential prize money after winning the bet. At the same time, it also reflects a part of the probability of winning a bet. The greater the gap between the teams in a match, the lower the betting odds, and vice versa.
Most Popular Sports Betting Odds Today
Currently, there are many types of sports betting odds, but the most common types are:
American Odds
American sports betting odds are very easy to understand and straightforward. You don't need to be good at calculations or have experience to choose this type of odds. American betting odds are usually expressed with a minus (-) or plus (+) sign. The minus sign usually indicates the team that will lose, and the plus sign indicates the winning team. The larger the amount of money wagered, the larger the prize money.
For example: The bookmaker program offers betting odds for Hoang Anh Gia Lai (HAGL) and Song Lam Nghe An (SLNA). The betting odds for SLNA winning are +200, and the betting odds for HAGL losing are -100.
If a player bets 1 million VND on SLNA and wins, the amount received will be 2 million VND. This includes the initial 1 million VND bet and the remaining 1 million VND as winning money.
If a player bets 1 million VND on HAGL and wins, the amount received will be 3 million VND. This includes the initial 1 million VND bet and an additional 2 million VND as winning money.
Decimal Odds (DEC)
Decimal odds, or decimal betting odds, are a decimal number. It is used to represent the total amount that the bookmaker has to pay when a player places a bet on that odds and wins. And the special thing about decimal odds is that the prize money will include the capital.
For example: If a player bets 1 VND on an Asian handicap and wins, the decimal odds will be 1.82.
Simply put, if the player wins, the bookmaker will have to pay back 1.84 VND. This amount includes the initial 1 VND bet. Thus, the player will receive 0.84 VND as profit. Conversely, if the player loses, the initial bet of 1 VND will be lost.
The formula for calculating profit when placing bets on this type of sports betting odds is: Total winnings (including capital) = Initial bet amount x Betting odds (DEC).
Looking at decimal odds, it is easy to distinguish which team has the advantage. Teams with lower odds usually have larger odds, and of course, the winning amount is also higher. Conversely, stronger teams will be assigned lower numbers, and the winnings will be much smaller.
Hong Kong Odds
As the name suggests, Hong Kong sports betting odds are even numbers provided by Hong Kong bookmakers. Based on this number, players can calculate the potential winnings after winning. With a relatively simple calculation method, Hong Kong odds are favored and chosen by many Vietnamese players.
Malay Odds
Malay odds (MY) represent the relationship between potential profit and the initial bet amount. This means it only represents the actual profit after subtracting the capital or the amount lost when the player places a bet.
These sports king betting site odds will be expressed in both negative and positive numbers. However, unlike American betting odds, negative numbers will be assigned to the stronger team, and positive numbers will be assigned to the weaker team.
Fractional Odds
Fractional odds are widely used in the past. Nowadays, this type of betting odds is still favored and chosen by many people in Europe. However, in Asian countries like Vietnam, it is not popular. The calculation method of fractional odds is also very simple and easy to understand.
For example, in a match between Song Lam Nghe An and Hoang Anh Gia Lai, if the betting odds for this match are 2/1, it means that the probability of winning in this bet is 50%. Of course, this also means that the player has to bear a 50% risk of losing the bet.
Macau Odds
Macau-style sports betting odds are also one of the most popular types of odds today. They are provided by Macau bookmakers and consist of both negative and positive odds. The calculation method is relatively simple.
For example, if the bookmaker offers odds for Hoang Anh Gia Lai at -0.99 and for Song Lam Nghe An at 0.92. If a player bets 100,000 VND on HAGL and wins, they will receive 99,000 VND in profit, plus the initial 100,000 VND. Conversely, if a player bets 100,000 VND on SLNA and wins, they will receive a profit of 100 × 0.92, which is 92,000 VND. If they lose, they will lose the entire bet amount.
Over/Under Odds
Over/Under odds are a type of odds commonly used in football betting. Bookmakers will base them on the total number of goals scored in a match to provide over/under odds. Players will predict the match result and compare it with the over/under odds provided by the bookmaker. The most common over/under odds include:
Over/Under 2: If the total number of goals in the match is greater than 3, whoever bets over will win; if it's equal to 2, it's a draw, and if it's less than 2, whoever bets under will win. The winning amount equals the bet amount times 2.
Over/Under 2 ¼: Those betting over will win if the total number of goals is greater than or equal to 3. Conversely, if the total number of goals is less than 3, those betting under will win. The winning amount equals the bet amount times 2.25.
Conclusion
The above guide to betting summarizes the most popular sports betting odds today. Study each type of odds carefully to make the most reasonable choice! Finally, I wish you all the best in winning big when participating in sports betting.