Odds are one of the common terms in football betting, understood as the exchange rate that bookmakers pay to players if they predict correctly. Typically, bookmakers offer different rates based on various factors of the match. Moreover, these odds are not fixed but continuously change as the game begins.
Understanding the payout rates of bookmakers will help you calculate potential winnings and identify which bookmakers are offering higher rates to join and profit. Currently, on football betting websites, there are basic types of Odds for players to choose from.
Guidelines for analyzing odds of various types:
When accessing the odds board of any bookmaker, you'll see the following common odds ratios:
Decimal Odds - European Odds
European Odds are always greater than 1.00, and the odds board will display the player's betting amount and potential winnings. The calculation for betting on football in the 1×2 format if you win this bet is as follows:
Winnings=Betting amount x European Odds
For example: Bet 1 million, Odds=1.2, then winnings=1,000 x 1.2=1.2 million. If you lose, you'll lose the initial 1 million bet.
European Odds change the display parameters of the entire odds board, unlike the normal 1×2 Asian handicap betting style.
For more specific details about the Asian Handicap bet, please refer to the article "What is 1×2 Betting?"
Analyzing HK Odds - Hong Kong Odds
This type of bet only displays the winnings, making it easy to distinguish from European Odds. The calculation method for this type is also straightforward:
Winnings=Initial bet amount + (Initial bet amount x Hong Kong Odds)
This calculation method differs from European Odds.
For example, if the bet is 1 million and the Odds are 1.2, then the winnings will be 1,000 + (1,000 x 1.2)=2.5 million VND.
For an overview of how to calculate and experience betting odds in Hong Kong, please read the article: "What are Hong Kong Odds? Tips for Reading and Placing Profitable Bets."
Analyzing Odds - Effective Betting Formula
Currently, there are three main sources for analyzing odds:
Next Goal.
Fixed Odds or 1×2.
Online betting websites.
Analyzing odds can be quite complex, but we can delve into practical examples to make it easier to understand, as follows.
Analysis of the 3 Stages in Odds Prediction
There are always 3 stages of odds with daily betting tips app in a match that you should be aware of.
Open Odds
These odds appear early in important matches and can be available up to 2 weeks before the match takes place. The timing of when these odds are released varies depending on the bookmaker. Once the odds are open, players should consider additional information such as form, match history, lineups, tactics, etc., to make the most accurate prediction.
Live Odds
These are the odds released by bookmakers one day before the match and can fluctuate continuously. The reason for this fluctuation is the various factors that influence these odds, especially when there's a sudden increase in the number of bettors on one side. This fluctuation ensures that bookmakers do not incur losses when the majority of bettors predict correctly. Changes in odds are how bookmakers balance the number of bettors on both sides.
Odds Running
While the match is underway, bookmakers also offer live betting odds, known as Odds Running or handicap odds. At this point, the bets on both sides are balanced. These odds fluctuate continuously throughout the match and depend on the ongoing developments in the match. Without understanding how bookmakers set odds, one can easily be swayed by misleading statistics and end up losing money unnecessarily.
10 Tips for Consistently Winning with Odds Prediction
Predicting odds is not simple as they can change continuously. Bettors cannot randomly place bets without thoughtful consideration. Remember the following tips and incorporate them into your betting strategy before each match:
Be confident and calm to make the most accurate analysis and predictions.
Avoid placing large or all-in bets, regardless of the outcome, and understand how odds are calculated.
Refer to information provided by bookmakers and multiple sources to make the most accurate predictions.
Consider seeking advice from experienced bettors and participating in sports betting forums to gain insights into match predictions.
Evaluate the significance and tension of the match between the two teams.
Monitor the odds provided by bookmakers close to the match day to understand the trend of the majority of bettors' choices.
Understand how bookmakers set and adjust odds to assess whether the conversion rate is accurate.
A common method for analyzing odds is to disregard odds ending in 1, 2, 3, 4, 6, 7, 8, 9. Odds ending in 0, 5 are divided into 4 parts, representing 1 draw, ¾, ½, ¼ corresponding to odds of 0.25, 0.5, 0.75, 1.25, respectively.
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Conclusion
These are the most basic methods for predicting football odds that any bettor should know. If you understand how football odds work, you'll undoubtedly encounter more luck and success when participating in this field.