Last Updated on 09/23/2022
Fact checked by: Mike Goodpaster
As America opens up to a brave new world of sports betting, it’s important for gamblers to understand odds and how they affect sportsbooks. Seeing as football is the biggest market in the US, there’s no better place to start.
Of course, football betting odds are complicated, so it’s hard to get to grips with them from the outset. That’s where football odds comparison guides come in handy because they outline the dos and don’ts, allowing you to avoid silly mistakes that plague amateur bettors. In this thegruelingtruth.com post, you’ll learn about everything from comparing odds to finding value.
The best football odds don’t fall out of the sky. To find them, you have to work hard to compare odds from different bookmakers and analyze the pros and cons. When you do, the sports betting odds you select will be among the best on the market at the time. But, why go through all the effort? What’s the point?
Firstly, the longer the odds, the more money you stand to make if your wager wins. While long odds don’t often represent the favorites, if you believe your football team will win, it’s better to take them since they represent good value for money. So, football odds comparison can leave you feeling flush if your bet is successful.
Secondly, comparing the best football odds encourages good habits. Now that you know you may lose money even when you win, not settling for one or two operators is essential. By comparing as many as possible now, it will become second nature to you in the long term.
Lastly, understanding which providers offer great value, lets you open a new account with them and claim the welcome package. Not only do you receive quality odds, but you get freebies too!
The best betting odds for football and bookmakers’ odds for football are two different things. This is because bookies usually try to pay out lower sums than the real odds. As a rule, the strategy is used to balance the books and maximize profits. However, other tactics help bookies determine their odds. For example, most take the form of football teams, injuries to key players, statistics and historical precedents into account.
Confusingly, odds don’t only vary between the true odds and what bookmakers set, but also between the bookies themselves. Certain brands will decide to go higher or lower, and there are numerous reasons why. Sometimes, operators will opt for short odds on sportsbooks, such as the UFC. Although the provider doesn’t have the best betting odds on the market, it does mean its liability is low. As a money-saving technique, it’s very effective.
On the other hand, a new operator may be willing to take a risk to encourage punters to jump ship. In this case, their odds for the same event will be slightly higher in the hope that the prices engage frugal customers looking to milk as much money from a wager as possible.
If you’re just getting used to football betting odds and how they are calculated, things are about to get a little harder! Providers serve a global audience, and every region has a preferred way of viewing odds for sports markets. For instance, the UK uses fractions to highlight value. So, if you land on a UK-based betting company’s homepage, the F1 betting odds or soccer betting odds will be fractionals. Decimal and American formats are also used, which it’s smart to explain what they mean and how they work.
Please continue reading for more information on the three main odds formats.
Decimal odds are probably the easiest way to determine how much you stand to win if your bet is successful. This is because your stake is already included in the figure. It isn’t the case with American and fractional odds, which means you have to factor in more elements before you can decide the value of your wager.
Essentially, the number represents the total returns, whereas fractions only show you the profit. For example, decimal odds of 2.2 mean you will receive $2.20 for every $1 you wager. This applies to all decimal odds, which is why it’s widely used around the world.
The benefits don’t stop there, either. As you may have gleaned from the example, decimals are easier to work out when they are displayed. With fractions, you need to do a few calculations before you can decide which operator offers the most value. Is it 8/15 or 4/7? There’s no reason to stress when you use decimals because it’s obvious since 1.53 (8/15) is smaller than 1.57 (4/7).
Lastly, bookmakers use decimals to provide better value for money. Several brands will negotiate the odds, especially on their exchange platforms. American and fractional odds are rigid and don’t allow for the same type of flexibility.
Fractional odds show the potential profit. As your stake isn’t included with the calculation, you have to add it at the end to get the full picture. For instance, if you place $1 on a football team that is ranked at 5/1, you will get $5 for every $1 you spend. However, because winning wagers require bookies to give you back your initial stake, you’ll receive $6 overall. All you need to do is multiply it by your bet to work out your possible earnings.
The easiest way to understand fractional football betting odds is, “how much you will win” versus ”how much you stake”. This equation helps when odds appear the wrong way around. 1/5, also known as “odds on”, is another way of saying that you must wager $5 to win $1. While it seems silly to stake so much for small returns, the odds reflect the chances the team has of winning.
Therefore, when you see these fractional odds, you know that the football team in question are red-hot favorites. People who like to gamble on short favorites like fractional odds because it quickly indicates which selections are likely to win.
As per usual in the US, America does things differently to the rest of the world. It wouldn’t be American if the country didn’t put its spin on things! Remember that they are just one way to pick odds, so if you find them challenging, you can simply select the format that makes selecting the best football odds less hassle.
If you are American or live in the US, this shouldn’t be necessary because the American odds format is common across the market. Therefore, you’ve probably had exposure to it at some point. For those who haven’t, the important point to remember is that odds are shown to the nearest 100 and accompanied by a ‘plus’ or ‘minus’ sign. The former represents the underdogs and the latter highlights the favorites.
For instance, +100 means you will win $100 for every $100 you spend. Of course, if you stake $1, you can divide the odds by 100 to calculate what you stand to win. So, if you bet $1 on +100 odds, you will get $2 if the team is victorious. To put it into perspective, +100 is equal to 1/1 fractional odds or 2.0 decimal odds.
When comparing minus figures, the best thing to do is to take the largest number as the favorite.
Expected value is a term you’ll hear a lot when you analyze sportsbooks. It’s becoming more popular among gamblers, yet not everyone knows what it means. Fewer people understand how to work the EV of a wager and why it’s important.
Simply put, the expected value of a selection is the gap between a bookmaker’s expectations and a bettor’s. Bookies set their football betting odds by considering a plethora of factors, which is why they often get the results correct. However, it isn’t an exact science. When they get it wrong, you want to exploit the value to maximize your winnings. That’s why figuring out expected value is essential.
Here’s an example. Before a game between the Kansas City Chiefs and the Tampa Bay Buccaneers, an operator quotes the Chiefs as the +100 favorites. Probability-wise, odds are the same as a coin toss. But you believe the Bucs have a greater chance of winning than 50%, so the EV for you is much bigger than the bookmaker assumes.
The key is to search for markets where a bookmaker’s implied probability is wrong. Then, you can benefit by either accepting the odds or placing a wager with the other team.
Where gambling on the best betting odds for football is concerned, loyalty is not a virtue. Instead, it’s vital to use a football odds comparison to ensure you get the most value from your bets. Here’s why.
When you win, everybody wins. Right? No. If you can place the same bet with an alternate bookie at better odds, you will leave money on the table regardless of the outcome. Superior football betting odds for today are the odds that payout the most when your selections win. This is the main reason loyalty doesn’t pay – it costs you money.
Thinking of several sports betting companies off the top of your head isn’t tough. As sports gambling regulations evolve, sportsbooks will only become more accessible. On top of that, most operators ask for the same information when you register. Therefore, it’s not as if you don’t already know your Social Security Number!
It’s possible to open multiple accounts with the same operator. At least, it is if the parent company owns a range of platforms. Think Caesars and all the providers that are under its umbrella. Being loyal to Caesars may be helpful in some respects, such as enhancing your VIP status, yet it will leave you vulnerable if you’re successful as sports betting brands have been known to close accounts that win too much. Shopping around for high-quality odds from competitors is an excellent way to stop this from happening to you.
Regular customers that jump ship will catch the eye of operators. They want your account to be active again, which is why lots of them offer sweeteners to make it worthwhile. For example, you could receive free bets on football games that most people won’t be eligible for. Of course, to play hard to get, you must leave first.
A football odds comparison is very important because you need to know which operator offers the best value before you confirm your wager. However, it’s not the only factor you should evaluate. To get the most from your experience, it’s vital to consider the features that may impact your bets.
A loyalty program is a prime example because the amount of value you receive may outweigh the initial disparity in the odds. Say the odds with your current operator are worse but the VIP rewards are greater, it is better to accept the lower odds and make it up in prizes.
The same goes for bonuses. A welcome package will always be more substantial, but once it’s been used, what are the other bonuses like? If you can use them regularly, they could be superior overall.
Comparing live betting odds is complicated as the live odds market will change rapidly at any moment. Whether you’re looking at football or political betting odds comparison, you’ll have the same issue – time. You can’t solve the problem entirely, but you can soften the blow with a couple of tips.
The first is to wait for a gap in the play before you make a move. When a football match reaches half-time, for example, the odds usually stabilize since nothing is happening. Of course, they’ll be different from the beginning of the game as there are more variables in play. Another option is to open as many tabs on your devices as you have betting accounts. When you’re signed in, you can switch between them to decide which live betting odds are the best. A pen and a piece of paper is a good idea.
Or, you can use an in-play odds comparison site to sort out the odds automatically. They take the biggest operators and update their offerings so that you don’t have to stress.
Finding fantastic football betting odds is about understanding the bookmakers’ strategies. For example, customers who know that new operators are trying to break into the market will be one step ahead of everybody else. Also, selecting a suitable odds format is crucial because you don’t want to waste time calculating value and miss your opportunity. Don’t be loyal, either. Loyalty doesn’t pay. Last but not least, wait for breaks in play to evaluate live odds markets.
What’s so effective about these tips is that they work for different sports. You may be a football fan, but the best horse racing odds can also be found using these tactics. The same applies to baseball, ice hockey, soccer, and anything you fancy backing!
There’s a healthy chance that you will use a single operator all the time, which isn’t unusual. Bettors love the familiarity of a platform that they trust. Plus, staying loyal to a betting company usually means you’ll receive rewards. However, football betting odds aren’t always the same, and there are benefits for those who analyze the discrepancies. Find out what they are by reading this guide.
Depending on which provider you choose and your location, you may come across at least three different formats. Each works differently and comes with their pros and cons. It’s up to you to decide which is the most suitable. The only way to do it, is to figure out what they are and how they work; something that you can do by going to the “most popular odds formats explained” section of this comparison.
Live odds are integral to football betting because people want to benefit from placing wagers in play. After all, you know a lot more about a contest after you’ve watched a quarter and have a feel for what is going to happen. Live odds are like any odds, so they are comparable. However, you should read this post to find out the best methods at your disposal.