How to Bet on Football

Football remains one of the most popular football disciplines worldwide. Betting on soccer has enticed many bettors because of the unmatched entertainment and various events scheduled weekly.

So, how do you find the best football betting odds? Usually, the oddsmaker considers several aspects when formulating odds. These include favorites, underdogs, the home-ground advantage, and the match’s goal, such as advancing to the quarters. What should you know to bet on football? Our detailed beginner’s guide on football betting could help – read on.

Understanding Football Betting Odds and How They Determine Payouts

Odds represent the likelihood of an outcome happening. Usually, it is an oddsmaker’s presumed probability that the outcome would happen. Consider odds, an opinion, or the chances in a match and how it would unfold.

For instance, the chances of Liverpool drawing against Manchester City are 50/50, as both teams have equal chances of winning. Odds are represented in fractions or decimals, which is instrumental in determining the payout if your football bets are correct. Here is an explanation of how football odds are represented.

• American odds or moneyline odds are mainly used in the US and are distinguished by the plus sign (+) or minus (-). Negative odds represent the amount you must wager to earn $100. For instance, -110 means your stake size should be $110 for you to collect $100. If odds are signified with a plus sign, it shows how much you will win if you wager $100. For example, -140 odds mean you will collect $140 on a $100 wager.
• Decimal or European odds are common in Australia, Europe, and Canada and are represented by a decimal. This type of odds is the most straightforward because you multiply the digit with your wager to determine the payout. For example, 2.50 odds on a $1 stake would fetch you $2.50. In this case, 2.50 odds equate to a 40% chance of an outcome happening, whereas 1.50 odds signify 60% of the opposite outcome.
• Fractional odds are predominant in the UK betting scene and are represented by a fraction or slash symbol (/). The first number (numerator) signifies the possible payout, whereas the last digit (denominator) represents the stake size. For example, 2/1 odds mean you will collect twice as much if you wager $1. If the first digit is more significant than the denominator, know that the probability of the outcome happening is lower.

Above all, you should know one basic principle: higher odds signify the unlikely likelihood of the outcome, whereas lower odds imply more probability of it happening. The approach is that positive odds (+) are unlikely and usually favor underdogs, while negative odds (-) are likely and refer to favorites.

Now that you have understood football betting odds, how do you determine your payout? You can estimate the potential payout using the below approaches:

• Fractional odds In this case, multiply your wager amount with the numerator, then divide it with the denominator minus $100 to get the potential payout. Take, for example, 4/1 odds: The potential payout = (wager multiplied by the numerator) divided by the denominator (100x4)/1 =$400 profit = potential pay – stake = $400 - $100 = $300 profit.
• Decimal odds If you prefer this value, multiply the odds by the stake. Consider 5.00 as the value. The potential payout is the wager amount X the value, which is 100x5.00 = $500 profit minus $100 (absolute value) = $400 profit.
• American odds The potential payout for negative odds can be calculated by multiplying the stake with the indicated value X 100. For positive odds, multiply the value by the stake amount and divide by 100.

A payout would be: (stake X odds) divided by 100 = 400x100 divided by 100 = $400-$100 = 200 (profit).

Football Bets Options

One of the most confusing aspects of understanding football bets today is the available betting markets that can be confusing. Here is an overview of the most common ones:

• A negative or positive symbol represents moneyline odds; the former denotes the underdog (less likely), while the latter means the favorites (higher chances of the outcome).
• Spread bets are based on expected outcomes. However, the favorites are supposed to cover the spread, a margin that might be challenging to reach. For example, the oddsmaker may set the margin at 2-3 goals, implying the winning team must cover the spread by three goals.
• Over and under odds (totals) are based on different statistics, such as the number of goals. The bettor must determine if the goals will be less than (under) or more than (over) the indicated value.
• Parlay bets revolve around multiple events combined in a single bet. While these football betting odds are risky, the payout is attractive if all the guessed outcomes happen as predicted.

Depending on the bookmarker, you could find various possibilities to wager on, such as game-related or player-based stats. Now that you know about soccer odds, why not make the most of football betting odds today at GGBet?