Most important reasons to compare the latest tennis betting odds
Now, you might be sitting there wondering why you should compare betting odds at all. Shouldn’t you simply find a site that’s renowned for having the best betting odds overall and stick to it? You could do that, and there’s nothing to stop you. However, it means that you will undoubtedly miss out on valuable bets and therefore money.
When shopping around, you’ll find that odds really do differ across all sites depending on when you’re looking at them. That is to say, the sportsbook that has the best tennis odds today, might not have them tomorrow.
Think about booking flight tickets – do you simply go with the same airline you used before because they had the best price last time you went away? Probably not – you’d head back to a comparison site and compare all available airlines to find the cheapest price there and then. Betting odds work exactly the same!
How do bookmakers determine their tennis betting odds?
In order to find the best value with anything as a consumer, you need to understand exactly how the mind of the merchant works. When it comes to betting odds, there may be certain factors that ultimately influence the odds of different sports. However the basic formula is generally the same, whether you’re looking for golf betting odds or tennis.
Basically, what the bookmaker wants to do is set the odds by balancing the realistic probability with margins that guarantee them a profit no matter who wins. Ever heard of the phrase the house always wins? Well, it’s true – and it doesn’t happen by accident!
However, just because the house always wins, doesn’t mean that you always lose. By understanding the mathematical logic behind the odds and knowing your tennis, you can comfortably increase your chances of placing successful bets.
When setting their odds, the bookmakers are in part gambling themselves – only with an advantage. What they tend to do is calculate the realistic probability of both outcomes and then subtract a margin (usually around 5%) to protect their profits. For example, if the bookie decides that the real odds are +200, they will actually offer them at +190.
Why do the best tennis odds vary between bookmakers?
You could be forgiven for thinking that if all of the bookies use more or less the same logic as explained above, then surely they must all end up with the same odds, give or take a very small margin. However, that’s most definitely not always the case at all!
The overround is something that can heavily influence this. The term “overround” refers to the process used by bookmakers to balance the bets placed on all possible outcomes in order to protect their profits. Bookmakers will always change the odds in the run-up to an event, usually to lure people into betting on the lines that have been less popular, and to deter them from choosing the lines that have already proven popular. While finding a perfect balance is nigh on impossible, the bookmaker wants to do this as best they can with every line they offer.
Not all bookmakers will be over and underexposed on all of the same lines, therefore if you check the tennis odds today on a number of lines, you’ll find they may differ quite significantly between the different bookmakers. The same goes for basketball betting odds.
If you are completely new to the concept of betting odds, then knowing how to read them is key. Today in 2023, there are three odds formats that are most commonly used throughout the world – decimal, fractional and American odds.
Where and when you’ll find each of these three odds types used, depends a lot on location. However, with most online sportsbooks, you’ll now find that you are afforded the option to choose your preferred format. Below, we have provided you with an explanation of each of the three main odds formats and how they work.
Decimal betting odds explained – the European favorite
As the very name suggests, decimal betting odds are represented as a ratio in the form of two numbers separated by a decimal point. For many, this is the best tennis odds format to work with, thanks to the simplicity of the mathematical logic when working out your potential payout.
For example, let’s say you have Novak Djokovic being offered to win against Roger Federer at odds of 2.1. All you have to do is multiply your stake by the odds in order to calculate your total returns. So if you stake $100 on Djokovic in this case, your potential returns would be $100 x 2.1 = $210.
If you want to calculate your actual profit, simply subtract your stake – $210 – $100 = $110. With decimal odds, favorites will generally be offered with low number odds, while the underdog will be offered at high number odds.
You can calculate the implied probability of the outcome as a percentage by dividing the odds by one and then multiplying the answer by 100. To use the above example once more: (1/2.1) x 100=47.6%.
Fractional odds explained – the classic
Fractional odds is the original betting odds format. It also still remains the most popular format for tennis odds today in the UK and Ireland. Despite being a little bit more complex and harder to read than decimal odds, it is still the preferred option for betting purists across the world – particularly in the horse racing community.
With fractional odds, the two numbers on either side of the fractions each represent one of the possible outcomes of an event. The number on the left tells you how much you stand to win, while the number on the right represents your stake. If we imagine that Federer was on to beat Djokovic at 2/1, then you stand to win $2 for every $1 that you stake.
The implied probability can be calculated by dividing one by the two totaled numbers of the fraction and then multiplying it by 100. For example (1/2+1) x 100. When the implied probability of the outcome is less than 50%, the left-hand number will be higher than the right. If the implied probability is over 50%, then the right-hand number will be higher.
American odds explained – guess where it’s used?
As the very name suggests, American odds (sometimes referred to as moneyline odds) is the tennis betting odds format most commonly used in the USA. With American odds, there are two different types of numbers to be aware of – positive and negative. American odds format is probably the easiest to read at a glance as it was made with betting exclusively in mind.
With positive number odds, the number represents the amount of profit you stand to make should you stake $100. For example, if the tennis odds today for your outcome are +200, then you would stand to make a $200 profit on that bet. Your total returns would then be $300 – your $100 stake plus the $200 profit from the bet.
With negative number odds, the number represents how much you would have to stake in order to yield a $100 profit from your bet. For example, with odds of -200, you would have to stake $200 in order to make a $100 profit. Your returns would ultimately be the same as above, however, the probability is greater, meaning the stake is higher and the profit is lower.
How to calculate the expected value with the best tennis odds
Finding the best tennis odds today is one thing, but if you truly want to be successful with your wagers, then you need to look at the expected value of your bets. What the expected value does is it tells us how much that we would stand to win on average per bet by taking your stake, potential winnings and the probability of winning and losing all into account.
Calculating the expected value for your bet isn’t quite as straightforward as working with all of the odds formats above. However, the good news is that you don’t need a maths degree in order to figure it out. The best tennis odds format to use here is decimal, due to the calculations required. In the simplest form, the following formula used to calculate the expected value is:
(Winning probability x Potential winnings per bet) – (Losing probability x Potential loss per bet)
If we use our tennis betting odds example from above, Djokovic was being offered to win at odds of 2.1, meaning the implied probability was 47.6%, with the potential winnings being $110 for a $100 stake. The losing probability would therefore be 52.4%, with potential losses being your $100 stake.
The expected value would therefore be calculated thus with these tennis betting odds:
(0.0476 x 110) – (0.0524 x 100) = 0.004
Why loyalty doesn’t always pay with tennis odds today
We understand that it might be an easier and more comfortable option to simply find one good sportsbook and stick with it. They might even lure you in with promises of boosted odds and loyalty bonuses. However, by failing to shop around for the best boxing odds, tennis odds, and more, you could be losing money in the form of potential value. As we said right back at the start of this page, the site offering the best tennis odds today, might not necessarily be offering them in the future.
Why our tennis odds comparison is important
Instead of simply sticking to one bookmaker and potentially losing money in the process, you can use our odds comparison tool. What our tennis odds comparison does is show you the latest tennis betting odds from all of the available bookmakers. As a result, you’re able to find the best tennis odds at any given moment. Our comparison tool also works for finding the best cricket betting odds and more.
When it comes to everything else in life, from health insurance to gas and groceries, you would always shop around to find the best value for your money – so why should you then treat betting odds any differently?
Other things to consider when comparing tennis betting odds
When comparing tennis odds today, our comparison tool is undoubtedly the first thing that you want to look out for. However, as silly as it may sound to say it out loud, odds aren’t always the only thing that you need to compare when shopping around for the best tennis odds. Below, we’ve highlighted a few other things you should look out for that could boost the value of your desired bet, as well as the odds.
Bonuses
Almost all betting sites will offer some form of the welcome bonus, while many others may have an existing customer bonus that can be used on specific sports. In addition to the odds themselves, you should also always check what bonuses are available to you with every bookmaker. In many cases, it could work out that you are better off placing your bet at slightly worse odds, but with a good bonus that boosts the expected value.
VIP
OK, yes we did say above that loyalty doesn’t always pay – but that doesn’t mean that it can’t sometimes pay! Take a good look at the VIP program that the sportsbook offers. It may turn out that they offer regular odds boosters or other bonuses that will ultimately increase the value of your bets.
Great betting bonuses
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Odds comparison vs live betting – a faster pace
When comparing betting odds today, all you have to refer to are the changing odds up and until an event starts. While these will change, the pace at which the shift will be relatively slow. Live betting can be very exciting, as you place bets on the possible outcomes of a match as it is happening in real-time. While this is a more exciting form of betting, it is also intense, not for the faint-hearted, and makes it much harder to compare odds before the moment to place your bet has gone.
With team sports, like football, basketball and hockey, you have time to compare odds during timeouts and throughout the halftime break. However, when it comes to finding the best tennis odds live, your windows of opportunity might be a little smaller. You, therefore, need to be a bit more on the ball (if you’ll pardon the pun). Break between sets? Get on and check, players take a water break? Compare those odds! Injury break – you know the drill by now…
Conclusion – find and compare the greatest tennis odds today!
To summarize what we’ve learned here today, the bottom line is that you should always shop around and compare tennis betting odds. In doing so, you’ll find the best possible value for each and every bet you place. Just remember that there are also some other factors to take into account – such as the bonuses and offers available with the bookmakers. Lastly, use the calculation formulas that we have provided in order to better predict the value and probability of your bets winning.
Top tennis betting providers
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Get up to $1,000 back in bonus bets
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5 x $50Bet Credits
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Bet $1 & Get $200 in Bonus Bets
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Tennis betting odds FAQ
🎾 How do odds work in tennis?
Odds in tennis basically work in a very similar way to odds in most other sports and games. That being said, there are a few aspects to consider that are specific to the sports of tennis itself. You find out the details ins and outs of tennis odds right here at TheGruelingTruth.com today.
🤑 Is tennis a good sport to bet on?
Betting on tennis is naturally a bit different to betting on other popular sports, such as football, baseball, and horse racing. However, does that mean it’s not a good sport to bet on? Not necessarily. Follow the link to our dedicated tennis betting page, which explains the ins and out of betting on the sport. That way, you can find out if tennis betting really is for you.
🤔 Is it easy to bet on tennis?
That’s not the most straightforward question to answer, as it depends on how exactly you want to bet on tennis. Some types of tennis bets are more straightforward, while others can be more complex, and are recommended only for experienced gamblers. Discover more with us here at TheGruelingTruth.com.
