Understanding The Football Betting Odds

Football has millions of fans around the world. According to Neilsen’s research, the sport has a global reach and its popularity is rising every year. Football is known in many countries in Europe. Not known to many, this sport has also tremendous following in countries in Asia such as Thailand, Malaysia, Singapore, and Vietnam.

Sports buffs in these countries don’t only watch live football games on television. Many sports fans participate in football betting online to heighten their experience and win some cash. Vietnam and other countries in Asia have several online sportsbooks where anyone can place a wager whenever and wherever they like.

If you are on this page, odds are you are interested in football betting yourself. Before you start betting football for Vietnam or other websites, there are several things you need to understand before you make your first bet. One of them is understanding the betting odds. While betting can give you tons of money, you can also lose a certain amount if you are not careful. Learning how the betting odds work can increase your chance of making the right decision and win.   

How do odds work in betting?

If you are planning to start betting on football, it is important to understand the odds. Much more, you need to learn how to weigh football odds to make the right decision. The odds you will find in sportsbooks or on online casinos will tell you many things about how can the tournament will end up. It will tell the probability of the game outcomes. The odds are calculated as a ratio of the number of events that produce the outcome to the number that don’t. For a football bettor, the odd can also tell how much you can win if you bet correctly on a football match.

Types of odds

There are three main types of betting odds used in many online sportsbooks. These are the decimal odds, Fractional odds, and American Odds. While many betting websites allows its player to control the types of odds they see on their screen, it’s an advantage to know how each one of these odds works.

Decimal odds

The Decimal odd format is widely used in many betting websites in Asia and in Europe. Here, the odds are displayed in decimal. Seasoned players can instantly spot which team is the underdogs and the favorites just by looking at the number.

To find out the potential return on a stake, you need to multiply the decimal odds by your bet. For example, you place a $100 bet on team A with 1.50 odds and win. Here, you can receive $150 in return. Take note that in the decimal odds, total payouts are shown rather than the profit. In this example, the $150 payout already includes your profit and initial bet. With that in mind, the profit for the example is $50.

You can also use the decimal odds to know the probability of the team winning the match. You just need to divide 100 by the odds presented by the sportsbook. For example, the sportsbook gave 1.50 odds on team A. This means that according to the page, Team A has a 64.94 percent chance of winning.

Fractional odds

The fractional odds are also used on many major betting websites. In fact, many punters prefer this format because it is easier to understand. As the name suggests, the odds in this format is in fraction. For example, a 3/1 odds for team A. This expression states that for every 4 occurrences (3+1) negative outcomes can happen 3 times and a positive outcome can occur 1 time. There are other sportsbooks, however, that uses hyphen (-). For example, they use 3-1 to show 3/1 odds.

For the computation of payout structure, the formula you need to use is Fractional Odds x Initial bets = profits. Let say you place a $100 bet on team A with 3/1 and win. Here, you will get $300 as a profit [$100 x (3/1)]. You will also get back your initial bet of $100 so you will receive $400 in total.

American odds

American odds are common in many sportsbooks in the United States. This format uses plus (+) and minus (-) symbols to indicate which team is the underdog and which is the favorite. The plus symbol is used for the underdog team and indicates the amount won for every $100 staked. The minus sign, on the other hand, is used for the favorite team. It indicates the amount you need to stake to win $100

To give you an example, in +300 odds, you would win $300 units for every $100 unit bet. On the other hand, you need to bet $300 to win 100 on betting events with odds of -300.