- 15th January 2024 at 4:24 pm #3115
What are Odds? This is a question that many newcomers to football betting are very interested in. For professional football bettors, they have probably grasped the basic knowledge of Odds. So, what are Odds and how many types of Odds are used in football betting? In this article, Cadodabanh will answer your questions. Please follow along to understand more about the Odds that bookmakers use to set betting odds in the following article.
What is the Odds ratio?
You can comprehend that “Odds” is a term used to signify the probabilities set by the bet at home bookmaker for players to choose from. For each type of higher Odds, the prize value that players receive upon winning will be larger. This is a familiar concept and plays a crucial role in the field of football betting. To simplify, Odds is a type of betting ratio provided by bookmakers to calculate the prize money that players receive after the match concludes. Thanks to this ratio, players can determine the amount of money they will receive if their bet is successful. Therefore, we can refer to Odds as the ratio of betting odds in football.
These Odds ratios are always changing frequently, and sometimes even directing participants to bet on the losing side. Therefore, to ensure the chance of winning, players need to choose reputable major bookmakers specializing in football, such as FB88.
Guide on how to analyze various Odds ratios
Currently, in the football betting market, there are many different Odds ratios, but fundamentally, the most attractive ones for many players include the following five main types.
What are European Odds?
European Odds, also known as Decimal Odds, are the football betting odds commonly displayed in decimal format and have values greater than 1.00. These odds apply to various types of bets, including Asian Handicap, exact score betting, and 1×2 betting.
The winning amount is calculated using the formula: Winning amount (=) bet amount (x) European Odds.
For example: You bet 100k on the match between A and B with winning odds of 1.72. If you win, you will receive a betting bonus amount of: 100k (x) 1.72 (=) 172k. If you lose the bet, you will only lose the initial amount of capital that was wagered.
How to analyze Hong Kong Odds ratios
Hong Kong Odds, abbreviated as HK Odds, are a type of betting odds formed from the European Odds source. These odds are displayed in decimal format but have a starting value of at least 0.00. These odds apply to various types of bets, including Handicap and Over/Under bets.
The formula for calculating the winning amount: [Bet amount (x) HK Odds] (+) Bet amount (=) Amount received.
For example: You bet 100k on the match between A and B with an Odds ratio of 1.50. If you win the bet, you will receive an amount of: 100k (x) 1.50 (+) 100k (=) 250k. If you lose, you will lose the entire amount of the previous bet.
How to read Malaysia Odds
Malaysia Odds, also known as Malay Odds, differ slightly from other types of Odds. This type of Malay Odds is formatted with two numbers, one negative (-) and one positive (+), with the reference point being 0. Each positive and negative value has a different calculation for potential winnings. The key difference in these odds is that in the case of a loss, the player does not lose the entire bet.
Formula for calculating winnings with a positive value (+):
Amount wagered (x) Malay Odds (+) Amount wagered (=) Winnings. In case of a loss: Entire bet is lost.
Example: You bet 100k on a match between A and B with Odds (+) 0.80. If you win the bet, you will receive: 100k (x) 0.80 (+) 100k (=) 180k. If you lose the bet, you will lose the entire 100k wagered.
For Malaysia Odds with a negative (-) value, there are two scenarios:
Winning scenario: [Amount wagered (x) Malay Odds] (+) Amount wagered (=) Winnings
Example: You bet 100k on a match between A and B with Odds -0.95. If you win the bet, you will receive: 100k (x) 0.95 (+) 100k (=) 195k.
Losing scenario: Amount wagered (+) [Amount wagered (x) Malay Odds] (=) Amount received
Example: You bet 100k on a match between A and B with Odds -0.95. If you lose, you will receive 100k (+) [100k (x) -0.95] (=) 5k. This means you only lose 95k in case of a loss.
What are Indonesia Odds in Betting
Experienced sports bettors are likely familiar with Indonesia Odds, also known as Indo Odds. It is one of the most appealing betting odds for players who seek a combination of risk and high rewards upon winning. Indo Odds are represented as decimal odds, with a baseline of 1.00, and display both negative (-) and positive (+) numbers. These odds are calculated and converted from Hong Kong Odds, with Indo Odds greater than 1.00 equating to HK Odds, and negative Indo Odds considered derived from Malay Odds when both types of odds on the bookmaker’s board appear to be the same.
Formula for calculating winnings with positive Indo Odds (+): Amount wagered (x) Indo Odds (+) Amount wagered (=) Winnings.
Example: You bet 100k on a match between A and B with winning odds of 1.90. If you win, your winnings will be: 100k (x) 1.90 (+) 100,000 (=) 290k.
For negative Indonesia Odds (-) upon winning: Amount wagered (+) [Amount wagered (x) Indo Odds] (=) Winnings.
Example: You bet 100k on a match between A and B with winning odds of -1.15. If you win, the winnings will be: 100k (+) [100k (x) 1.15] (=) 215k.
Calculating losses with negative Indo Odds is straightforward. Simply multiply the amount wagered by the negative odds to determine the amount you will have to pay if you lose.
What are American Odds (US)? Guide on how to calculate US Odds
American Odds, often referred to as Odds America and abbreviated as US by bookmakers, are odds displayed with a plus/minus sign (+/-) in front and consist of three digits, not in decimal form.
For example, in the betting boards of bookmakers, if you see odds like +120, -200, those are American Odds.
American Odds are primarily used by reputable bookmakers in European and American markets. In the Asian market in general, and specifically in Vietnam, most bookmakers tend not to use this type of US odds to avoid confusion and chaos due to the multitude of odds on the betting board. Moreover, European, Hong Kong, or Malay odds are more popular in Asia.
Calculation of winnings with positive (+) US odds: Amount wagered (x) [US Odds (: ) 100] (=) Winnings.
Calculation of winnings with negative (-) US odds when winning follows the same formula as positive US odds mentioned above.
Example: If you bet 100k on a match between A and B with odds of -115. If you win, your winnings will be: 100k (x) [-115 (: ) 100] (=) 115k.
Calculation of winnings with negative (-) US odds when losing: Amount wagered (x) US Odds 100 (=) Amount lost. You can refer to the example below for a clearer understanding.
Example: If you bet 100k on a match between A and B with odds of -115. If you lose the bet, you will lose the corresponding amount: 100k (x) [-115 (: ) 100] (=) 115k.
The Main Stages of Odds in a Match
In a typical match, there are three main stages. For sports bettors, particularly those who wager on tennis, it is crucial to understand these three stages. This is because these stages mark the points at which bookmakers initiate odds, adjust odds, or alter betting lines to better suit the upcoming match. Bettors closely monitor each of these stages to make more accurate predictions when placing their bets.
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The First Stage
The first stage is also known by another name, Open Odds. This is the time when bookmakers, based on the information they have about the two teams, set the initial odds. Bookmakers establish odds based on an assessment of factors such as team strength, recent performance, home ground advantage, coach, weather conditions, and whether the match is home or away. In major football tournaments, the odds are typically opened several weeks to a month before the tournament begins. For minor tournaments, this stage usually occurs around 1 to 3 days before the event.
Once the odds are open, players should consider additional match-related information, such as form, head-to-head history, lineups, tactics, etc. This stage helps players form the most accurate predictions for their bets.
The Second Stage
The second stage, also known as Live Odds, is when bookmakers release odds for the day before the match takes place. This stage is considered the most volatile in terms of odds fluctuations. During this phase, bookmakers adjust odds based on real-time conditions to balance the betting money evenly for players.
Even with accurate predictions, bookmakers may still change the odds if a significant number of players place bets on one side, aiming to balance the betting money. This adjustment ensures that bookmakers do not incur losses when the majority of players make correct predictions. Changing odds is the bookmakers’ way of balancing the number of players on both sides and ensuring the fairness of the betting odds.
The Third Stage
The third stage, also known as Running Odds, occurs when the match is in progress. At this point, when the amount of money placed by players is relatively stable, bookmakers continuously adjust the odds and betting lines throughout the 90 minutes of the match. During this stage, odds fluctuate continuously based on the ongoing developments in the match.
In other words, Running Odds is the stage when the amount of money from players is already quite stable. Bookmakers will then implement Live Odds, releasing continuous betting odds known as Running Odds or live betting. If you don’t understand how bookmakers set odds, you may easily get caught up in virtual statistics that align with their preferences.
Experience in Analyzing Odds from Experts
Football betting is not just a risky game; it also involves the intelligence and expertise of the player. Many have failed on this path, but for those with the courage to play wisely and know when to stop, it has brought wealth and prosperity.
Below are some experiences in analyzing odds shared by experts and professional players to help players increase their chances of winning bets with substantial rewards. Feel free to refer to them.
The Courage to Stop at the Right Time
As mentioned earlier, no matter how big the winnings, if one doesn’t know when to stop, the ultimate result can be a dead-end. One effective experience in playing odds is for the player to know their stopping point. Before deciding to place a bet, players must assess the likelihood of a high or low chance of winning. Especially in cases where they have lost several bets and, to preserve capital, chasing after losses is strongly discouraged.
The reality proves that many players do not assess their capabilities and persist in difficult odds, resulting in empty-handed outcomes. Therefore, for those new to betting, it is crucial to develop a genuine understanding of football betting, enabling them to know when to play and when to stop.
Not Following the Crowd
In the fee analysis section above, the Admin has analyzed the stages at which bookmakers will open odds as well as the adjustment times to avoid losses. Therefore, the crowd-following effect cannot be applied in football betting. It’s essential to pay attention to matches where bookmakers will adjust the odds to the maximum if too many people place bets on them. This is the method to minimize the risk of bookmakers losing money. Instead of blindly following the crowd, you can analyze on your own based on available information to choose odds with higher and more reasonable winning ratios.
Playing Odds at Reputable Bookmakers
When you have mastered all the experiences and strategies for selecting suitable odds but haven’t chosen a reputable bookmaker, your winning percentage is only 50%. In reality, many people lose in sports betting not because they choose the wrong odds but because they choose an unreliable bookmaker. Some less reputable bookmakers may unilaterally lock players’ accounts after consecutive wins or significant victories, citing various reasons. This emphasizes the importance of choosing a trustworthy bookmaker for a secure participation in football betting.
In Vietnam, with numerous sportsbook options, conducting a thorough bookmaker comparison is crucial. In terms of top-rated credibility voted by players, prominent names include Wintips, W88, Fun88, 188Bet, and a few others. However, the most comprehensive and outstanding among them is Wintips, considered a reliable address for most professional bettors. To gain a better understanding of Wintips’s reputation and services, you can refer to additional articles below.
In this way, I have completed the article answering the question of what Odds are for those of you seeking information about this betting ratio. Through this article, you should now have a better understanding of the rules regarding the opening and adjustment of Odds at different stages by various bookmakers. I hope this piece of writing helps you gain more effective experience in playing Odds. To achieve more victories in football betting, it’s essential to continuously learn from the experiences of professional bettors to refine your skills. Wishing you always good luck and success in your endeavors.18th January 2024 at 8:59 am #3121
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