How do Betting Odds work in Football?
It is necessary for the betters to understand betting odds in the game of Football. The reason is that the odds and events keep on changing. Therefore, the gamblers need to calculate the winnings side by side in order to seek the amount they will receive. The odds in the Football sports betting tells about the event that is likely to take place and the monetary amount the gamblers will win. Most of the betters may find the odds confusing but by following the tipster’s tips, they can certainly win the betting amount.
Calculating the Probability using the Betting Odds
The football betting odds may include fractional or decimal odds so it is necessary to understand both the ways to win the bet. The fractional odds somewhat look like this 9/1, where the numbers are separated with the slash. This will help in understanding the event and betters can calculate the betting amount too. Let us now see how fractional odds work in Football betting:
Firstly, replace the fractional numbers 9/1 with alphabets A/B
The Probability Percentage can be calculated as B / (A+B)
So, it can be depicted in the numeric form like:
- 9/ 1 depicted as 1/ (9+1) that equals to 0.10. Verdict says there are 10% chances that a particular event will take place.
- Let us take 4/1, which can be represented as 1/ (4+1) that equals to 0.20 and here the chances of the happening of an event are 20%.
- If the fractional numbers 1 / 4 are taken then it is calculated as 4/ (4+1) that equals to 0.80 and the chances are 80% for the event to take place.
From the above calculations, it is clear that the betters need to calculate the given fractional probability like this in order to seek the probability of events. Register at BetDeal to get the best tips!
How to Win the Amount?
The betting odds in Football states about the winning amount of the betters. Let us take the same example where 9/1 = A/B. It is simple that for every value placed on B, the players will win the amount for ‘A’ and the return on the stake. Like
- If the players take 9/1, then for £1, they will win an amount of £9
- If it is 1/1, then for £1, the gamblers will win the amount of £1
- If it is 1/4, then £4 bet amount will provide the betters £1 winning amount
The decimal betting odds format can be calculated through a small example. The potential amount is calculated with the stake as shown below where numbers are displayed using the two decimal places. Example:
- With $100 stake and decimal odds of 1.50, the players will receive $150 ( 100*1.50)
- The $200 stake with 3.50 as odds will provide a return of $700 (200* 3.50)
In case, if the player wants to calculate the profit then they have to subtract 1 from the provided betting odds and calculate as shown above. Example: $100* (1.50-1) = $50
To conclude, if the betters continuously practice the calculation of betting odds with the unfolding of events then they can win a good amount of money. Moreover, this will make a great foundation for interpreting odds in the Football sports betting (get the best odds click here).