Soccer Bet Odds: How to Treat Them Right?
Soccer is the most popular kind of sport when it comes to betting. The chance to enjoy soccer betting odds is available round the clock. You can choose to place pre-match soccer bets or alternatively place in-play soccer bets. The big soccer leagues are covered thoroughly.
If you consider wagering on soccer events, including the Premier League, La Liga, German Bundesliga, and Champions League, then it is reasonable to compare the latest soccer odds 1×2. This means you can keep track of the market values.
What Are Soccer Bet Odds?
Betting odds are known as a numerical representation of the possibility that something you bet on will occur. In sports, the betting odds usually refer to the possibility that a team will win or lose the match. The probability gets higher when the chances of something happening are high.
Now that you are familiar with soccer odds, you should be able to distinguish between “chances” and “odds.” If the chances make up 25%, then there would be a 1-in-4 chance of the event occurrence. This will look like 1:4.
Before you go any further, you need to learn the basics. It’s important to know how to manage odds accurately.
How to Read Soccer Odds in Sportsbooks?
Let’s say that the soccer bet odds for a match between Manchester City and Liverpool are introduced by the selected sportsbook. Manchester City has lower odds, namely 1.31. Liverpool has higher odds of 8.60.
The odds make it possible for you to identify the probability of each team winning. To represent the possibility of each outcome as a percentage, you need to divide 100 by the odds. In the above case, that’s going to be 76% for Manchester City and 11% for Liverpool.
Soccer bettors know that Liverpool is a favorite, namely a stronger team that has better chances to win the match. Manchester City’s higher odds determine an underdog in the game, which means that they are more likely to lose the match. The difference between odds indicates how one of the teams can take over the match.
You can also examine your potential winnings after an accurate bet. To identify that, you should multiply your bet sum by the odds. Make sure to detract your bet from the result. For example, if you bet $100 on Manchester City, your profit will be $30. The odds are low. The gain is not as big as possible. With a winning bet on Liverpool, you can get a cash amount of $70. However, this possibility is considerably lower. Please mind this very fact next time you decide to wager on the upcoming soccer match.
What Are the Betting Odds Formats?
Decimal odds involve a single digit with up to 2 decimal places. This is the easiest way to get to grips with it. For example, the chance that Manchester City will beat Liverpool is 25%. The decimal odds will be represented by 4.00. The chance that Liverpool will score more goals against the opponent is 75%, which makes the odds look like 1.33.
What if the chance of Manchester City beating Liverpool is 25%? In fractional odds, this is will be represented by 3:1. If there are 4 chances, then the ratio is going to be 3 of those chances against Manchester City and only 1 chance for Manchester City.
American odds look like -200 or +200. The minus sign “-” means the team takes the favorite status. The plus sign “+” means that the team takes the underdog status. This is how much you would win if you put $100 at stake.
Learning how to manage soccer odds is an essential skill in live betting. When we look at betting odds, we observe the likelihood of an event.
In soccer, bets can be placed on different kinds of events, from the team’s winning potential to the number of goals scored. These different events have varying probabilities to occur. To have the mathematical representation, you need to read soccer odds.
Remember that not all sportsbooks offer the same odds. How is this possible? Sportsbooks may have different amounts of information about upcoming events. They make their “predictions” based on what they know.
Don’t be afraid to do your own research as well. Conduct your own research. Compare the available odds for this or that event. Then, use the collected information to make your own prediction.