What are football betting odds?
Before delving into a detailed explanation of football betting odds, we need to understand what odds or betting lines are. Simply put, football odds are the ratios provided by bookmakers for players to choose, bet, and place their money on. Each match in different tournaments will have different odds. You need to analyze the odds provided by bookmakers to make the most accurate choices.
Different bookmakers will offer different football betting odds. Experts and analysts will provide assessments and set odds for each match. To choose the appropriate odds, you need to understand the rules of reading odds, odds calculation, and calculating the amount of winning bets. From there, you can make the most effective choices.
To select the most suitable and accurate odds, first, you need to choose the right tournament and match. Reputable bookmakers often have a diverse list of tournaments, with odds for most tournaments, from major to minor. You can easily select suitable matches and refer to the odds.
However, faced with a diverse and somewhat complex odds table, how can you analyze odds most effectively and accurately? Let's explore a detailed explanation of football betting odds below.
Some key concepts to know about football betting odds
Basic concepts on the odds table
When referring to how to explain football betting odds, you need to understand the basic concepts. Each bookmaker will have different odds. However, generally, the presentation and concepts of odds analysis will be similar. When looking at the odds table, you may notice some specific rules:
The name of the home team will be written above, and the away team below.
In the case of playing at a neutral venue, there will be a symbol (N) before the names of both teams, without distinguishing home and away.
In a match, there is usually a favorite team (cửa trên) and an underdog team (cửa dưới). The favorite team is considered the stronger team and is written in red.
In the odds table, there will be columns for first-half odds and full-time odds. The first-half odds are labeled as "Half time" and the full-time odds as "Full time".
Both first-half and full-time odds columns have the same types of odds such as Asian handicap, European handicap, and over/under odds. However, these two types of odds differ in the time of outcome. First-half odds will be settled at the end of the first half, while full-time odds will have results after two official halves of play.
The concept of the three most common types of odds today
When discussing the most common types of dropping odds strategy today, we certainly cannot overlook the three basic types that many players participate in: Asian handicap, European handicap, and over/under. To understand how to explain football betting odds, we need to grasp the concepts of these three types of odds:
Asian Handicap, also known as Handicap or Spread betting experience. This is the odds ratio that represents the handicap goals of the favorite team against the underdog team. Alongside Asian Handicap are the corresponding betting odds for each team.
Over/Under odds: also known as over/under or O/U odds. When analyzing over/under odds, you only need to focus on the total number of goals scored in the match and compare it with the figure provided by the bookmaker. The over/under odds also have corresponding figures indicating the betting odds for each team.
European odds: consist of three figures corresponding to the outcomes of the home team winning, drawing, and losing. These three figures correspond to the amount of money won for each scenario. The higher the betting odds, the less likely the outcome, according to the bookmaker.
Detailed explanation of football betting odds
To gain a better understanding of betting odds, let's explore how to explain football betting odds for the three most common types today.
How to interpret Asian Handicap odds
Asian Handicap, also known as Handicap or Spread betting, represents the handicap goals of the favorite team against the underdog team. Asian Handicap introduces a handicap ratio to balance the strength between the stronger and weaker teams. Weaker
teams are assigned lower betting odds. Therefore, handicap odds are provided to balance the handicap ratios, creating excitement in betting.
Unlike European odds and over/under odds, Asian Handicap requires bettors to consider both the number of goals scored and the final outcome of the match. When analyzing these odds, you'll notice the handicap goals alongside the corresponding betting odds. If you choose correctly and win the bet, you'll receive an amount equal to your initial wager multiplied by the betting odds. To illustrate further, let's consider an example:
In a match between England and Belgium, the bookmaker sets the handicap at 0.5 goals. The betting odds for England are 0.975 and for Belgium are 0.97. Therefore, if you wager 100 units:
If you select England and win the bet, you'll receive 100 x 0.975=97.5 units, adding to your initial 100 units for a total of 197.5 units.
If you select Belgium and win the bet, you'll receive
100 x 0.97=97 units, adding to your initial 100 units for a total of 197 units.
>> See more: Round-Up of Today's Top corner betting strategy Tactics
How to interpret over/under odds
Fundamentally, calculating winnings for over/under bets is similar to Asian Handicap bets. However, when explaining over/under football betting odds, note that the figure provided by the bookmaker represents the total number of goals scored in the match. If you believe the total number of goals will exceed the bookmaker's figure, choose "Over" (over), and if you believe it will be fewer, choose "Under" (under).
How to interpret European odds
European odds consist of three numbers corresponding to the odds of the home team winning, drawing, and losing. If you choose correctly, you'll receive an amount corresponding to the chosen odds. Let's consider a specific example:
In a match between Blackburn and Preston, the bookmaker offers odds for Blackburn winning, drawing, and losing at 2.70, 2.65, and 3.30, respectively. If you wager 100 units:
If Blackburn wins, you'll receive 100 x 2.70=270 units.
If Blackburn loses, you'll receive 100 x 2.65=265 units.
If Blackburn draws, you'll receive 100 x 3.30=330 units.
This is a match where the two teams are relatively evenly matched. The bookmaker deems Blackburn losing as the most likely outcome and a draw between the two teams as the least likely.
Easiest way to convert from European odds to Asian odds
If you plan to switch from European odds to Asian Handicap, you can apply the following general formula very effectively:
Formula for converting level Handicap odds:
Home team win=1 / (probability of home team win / (probability of away team win + probability of home team win)).
Away team win=1 / (1-(1.83))=2.19.
Illustrative example: Liverpool plays against Real Madrid with odds of 2.803.453.00
In this case, the player calculates the winning probabilities as 1/2.80 | 1/3.45 | 1/3.00. Rounded off, this yields 0.360.290.30. Applying the formula, we get:
Home team victory=1 / (0.36 / (0.30+ 0.36 ))=1.83.
Half-ball conversion method:
This type of odds is very popular on online betting websites because players often fear losing by half a goal.
Winning odds of the handicap team: FT1: 2.00 -2.1: The lower the winning odds, the better.
Draw odds FTX: 3.20 – 3.40: The draw odds should not exceed 3.40.
Losing odds FT2: 3.20 – 3.60: The larger the FT2, the less likely the losing party will have enough money.
FT1 is the smallest.
FT2 is the largest and must always be greater than FTX.
FTX is the largest.
Formula for calculating percentage odds from Water Money:
In the current market, there are two betting sides, so these odds are calculated as Asian Handicap Water Money odds fluctuating from 1.25% – 7%. If the Fixed Odds correspond to three outcomes of losing, winning, and drawing, then the Payout will also be equal to these three outcomes.
Therefore, the Water Money odds=100% – Payout.
These conversion formulas have been thoroughly reviewed by leading experts in the betting industry.
Conclusion
Each betting odds will have a different explanation. Hopefully through this article, you have a better understanding of how to explain football betting odds. Take the time to thoroughly understand the rules, regulations, and nuances of each type of odds to make the most accurate and suitable choices. Read more:Tomorrow's and Today's football predictions 100 %
