Football betting is one of the most popular areas of the gambling industry. People from all over the world pour into betting websites to try their luck. The UK has always been an ardent fan and supporter of the sport and has a history of betting that dates back to the advent of modern football itself. The odds of any sport are important to understand when betting. You can find plenty of generous football betting odds at BoyleSports as they try to give bettors an opportunity to make the most profit from their wagers.
If you are not clear about the odds, you might end up wagering on the wrong team or the wrong player. Having an overall knowledge about the sport is important but without understanding the odds, you might end up not making the best value bet. Thus, if you are a new bettor who doesn’t completely understand the process behind reading the odds, the first step is to understand the different types. Once you get a firm grasp of the types, it becomes easier to follow. Learning to read football betting odds lets you wager your money on other sports as well as they all work similarly.
Type of Football Betting Odds
The different kinds of odds are fractional, decimal, and American. They are different only in representation but hold the same value and your payouts will not make a difference. Let us go through each of them quickly.
Fractional Odds
Fractional odds are also known as UK odds or British odds and they are the oldest kind. UK odds are prevalent among British as well as Irish bookies. Several websites follow this pattern of representation and thus it is also sometimes called the standard odds representation.
It is written with a hyphen or a slash. 5-1 or 5/1 is announced as five to one. It means that you are eligible to win 5 pounds for every 1 pound of your wager in addition to your actual wagered money. It is thus the ratio of your profit and the money you have wagered. Thus, if you wager 100 pounds, you will receive 500 pounds along with your originally wagered 100 pounds bringing the total to 600 pounds.
Decimal Odds
Decimal odds are also known as the European odds as they are popular in continental Europe, as well as New Zealand, Australia, and Canada. The decimal system is easier to understand and helps bettors to spot the underdogs and favourites. It displays the amount a bettor wins for every pound wagered. Unlike the fractional odds that show just the profit, decimal odds represent the entire amount making calculation easier.
For example, if Manchester United has odds of 5.0, it means for every pound you bet, you will receive 5 times the amount including your original wagered money. So, if you have bet 100 pounds on Manchester United and they win, you are eligible to receive 500 pounds.
The decimal numbers need not always be round figures as shown in the above example. It was for the reader’s convenience. It could just as well be 5.67. Thus, when calculating your profit, make sure you do so carefully.
American Odds
American odds, also known as Moneyline odds, is the system that the US follows for sports betting. This one is the most complicated of all and requires careful speculation before wagering. The odds for favourites are denoted by a minus sign which gives you the amount you must wager in order to win 100 dollars. The odds for the underdogs on the hand are denoted by a plus sign. It indicates the amount one wins for every 100 dollars stacked.
The American system is complex but UK players need not worry about this system as most websites in the UK follow either the decimal or the fractional odds layout.
Once you understand how odds work, you will find football betting easier and even more interesting. Betting on teams that have an obvious chance of winning will earn you less profit than betting on games that are going to be competitive and thrilling. Football betting adds to the fun and thrill that the sport itself comes with. And it is one of the reasons why people are so passionate about it all over the world.
