Betting is unimaginable without betting odds. The odds to a betting site is just what a product is to an e-shop. The bettors are always advised to search for the most competitive betting odds before putting money at stake. Let’s understand how betting odds work, what high and low odd mean, and when high betting odds work in your favor.
How Betting Odds Work
You must be knowing betting odds are presented in fractions and decimals mostly. American betting market employs fractional odds and European works on decimals. There is a third way of presenting the betting odds known as American Moneyline. In this system, the weak team and strong team carry signs ‘+’ and ‘-,’ respectively.
‘+’ value indicates the return a bettor will earn.
‘-’ value indicated how much to invest to get a return of x value.
Let’s understand by this hypothetical example:
Team A: +200
Team B: -150
If you have bet $100 on team A, your return will be $100+$200 = $300. On the other hand, if you want to earn $100 on team B, you will require to wager $150. So, in the case of team B winning the match, your earnings will be equal to $150+$100 = $250.
Earnings Calculation Based On Fractional Betting Odds
Betting odds represent the likelihood of any event. When they say, betting odds are 6/1; it means that the bettor on winning will receive.
(Stake amount x odd) plus stake amount
If the stake is $10, the earnings of the bettor amount to
($10 * 6/1) + $10 = $70
From these calculations, one may think that the higher the betting odds, the higher the earnings. In a way, it may sound good, but where is the catch? Let’s find out.
What Does Higher Odd Mean To A Bettor?
Earnings-wise, a higher odd means higher earnings. The catch here is a lower possibility of the event’s occurrence. When somebody says that the betting odds are high, it indicates that the event’s possibility is relatively low. It is quite a practical inference too. The weaker team creating an upset is a less likely event than the stronger won sweeping away the match. That is why the odd of the stronger team winning the match is low. These facts indicate the high risk associated with high betting odds. A bettor must be extremely thorough in research and should have combed all facts. Apart from historical record analysis, one should analyze current statistics more extensively to pick a stronger team’s pain point. It is a must to take this level of risk.
When Does Higher Odd Prove Better?
Winning a higher odd is a rare possibility but can change the bettors’ fortune overnight. It can benefit the bettor when:
- The betting site has gone wrong in its assessment.
- The weaker team or underdog creates an upset
- An important aspect related to the most recent event missed the tipster’s radar.
Every soccer prediction is just a possibility and not the absolute truth. This fact does win the higher betting odds a few brownie points.
What Makes A High Odd Better?
A high odd is indicative of a charged-up game. The football betting sites allure bettors to stake a higher amount so that they can scoop better earnings. Such a proposition offers benefits such as:
- The possibility of having a big win day can allow you to cover losses made earlier
- Higher odd means higher payout. Thus, you can win big from a single bet placed; it saves you from making repetitive bets.
Thus, whenever you want to make humongous earning in one go and are doubly sure of the outcome to fall in your favor, choose a high odd. It may make you the newsmaker that day.
High odd games show that the possibility is low. That is why the betting sites assign high betting odds to such games, thinking that their accounts are at the least risk with this betting strategy. Secondly, higher betting odds mean higher payout. If you can buy sure football betting tips and got hold of a betting site’s shortcoming, you can benefit from a high odd assigned to the bet. Hence, take risk but a calculated one and keep a backup plan ready when you choose to go with a high odd bet.