Josh Schwartz
Editor
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Last Updated on 09/23/2022
Fact checked by: Mike Goodpaster
Table of Content
- Most important reasons to compare odds – Why it’s worth the effort
- How do bookmakers determine their odds? – Knowing this will help your gambling strategy
- Most popular odds formats explained – Football betting odds and their formats
- How to calculate the expected value – Figuring out suitable football betting odds for today
- Why loyalty doesn’t always pay – You don’t have to stick with a single operator
- Other factors to consider when comparing odds – Here’s how to find lucrative football odds for tomorrow
- Odds comparison vs live betting – How to know which is better for you
- Conclusion – Football odds comparison explained
- Football betting odds FAQ
Most important reasons to compare odds – Why it’s worth the effort
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!
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How do bookmakers determine their odds? – Knowing this will help your gambling strategy
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.
Why do odds vary between bookmakers? – How to best betting odds for football
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.
Most popular odds formats explained – Football betting odds and their formats
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.
How to calculate the expected value – Figuring out suitable football betting odds for today
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.
Why loyalty doesn’t always pay – You don’t have to stick with a single operator
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.
You lose when you win
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.
It’s easy to switch
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!
They can shut you down
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.
Play hard to get
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.
Other factors to consider when comparing odds – Here’s how to find lucrative football odds for tomorrow
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.
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Odds comparison vs live betting – How to know which is better for you
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.
Conclusion – Football odds comparison explained
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!
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Football betting odds FAQ
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