Odds are essential part of bettor’s world like the odds of winning, losing, injured, yellow carded and more. To increase the betting returns understanding how to calculate, analyze and compare is quite necessary.
What are odds?
Basically odds give you a possible picture of an event and also let you know how much cash you can make wagering on that result. For example, the probability of Team A winning world cup is 1 in 2, which applies to Team B too.
Now, if it is announced that Team A represents Canada and Team B represents Brazil then the World Cup odds for bookies will change. Bookmakers use a vigilantly calibrated algorithm to attain profit regardless of the tournaments outcome.
Remember odds always fluctuate due to injuries, news respond, betting data and more. If they go up, the possibility of a happening has decreased and vice versa. Therefore, you have to compare odds established by different odds-maker to attain good outcome. Moreover, you can even place bets with different bookies.
Odds are represented differently in different countries.
- Fractional odds – Standard form used in UK e.g. ½ or 4/5
- Decimal odds – Europe, New Zealand, Canada and Australia e.g. 1.10 or 5.00
- Money line odds – Used in USA depicted as -ve or -ve figures e.g. +300 or -500
Why compare odds?
To enhance your betting results comparing is essential, when you compare World Cup odds the genuine probabilities of winning will not change, but the amount you will win can increase, which eventually results in better profits.
Here is an example of how odds comparison turns out to be lucrative. Red City is playing a league match with Evergreen Marchers. Each team has three possible outcomes – win, lose or draw. If you bet on Evergreen to win then statistically your possibility is 1 in 3. However, bookmakers A, B and C have different odds – 21/20, 12/5 and 3/1 successively. It is difficult to identify the difference.
Use a bet calculator and work out with simple $10 bet, which will present the following returns on success.
- Bookie A – Returns are $20.50 means profit is $10.50
- Bookie B – Returns are $34.00 means net profit $24
- Bookie C – returns are $40.00 means profit is $30.00.
Now, the picture is clear from the above figures – Bookie C odds are more lucrative.
Over/under or total betting is the popular form challenging point spread at times. The basics are simple. Punters or odd makers do not care, which team loses or wins. They just take interest in both teams combined total score.
The total score will be either less or more than a betting line number. Just like point spread money line, odds are established by bookmakers and they invite bettors to wager over or under.
Over or under bets can be placed on many happenings during football match like -
- Red cards
- Yellow cards
- Fouls and more
Over or under World Cup odds will leave you with just two probable outcomes. Your stakes can win even if you support the team that loses. It is a nice and simple way of betting without any complications, but in the long run it will not appear to be profitable.