How to Interpret 5 Types of Odds in Football
"What are odds?" is a common question among beginners when they start analyzing bets and following the bookmakers' odds boards.
In essence, odds refer to the ratio of the stake (the amount wagered) to the payout (the amount received if the bet wins).
To understand more soccer tips tomorrow let's explore 5 basic ways to read odds in football betting.
Understanding Odds
Many newcomers to betting often wonder, "What are odds?" In English, the term "odds" carries various meanings:
What do Odds Mean in Football?
In football or sports betting, what does this term signify?
All betting firms agree that odds or betting odds are the ratios that players receive when they correctly predict the outcome.
Each set of odds provided by bookmakers differs and is calculated based on the teams' competitive abilities.
As a player, you have the right to choose any odds to place your bet and receive your payment.
Types of Sports Betting Odds Classification
To facilitate differentiation, players can categorize odds into 5 types: Malay, Indo, Hong Kong, European, and American.
Here is detailed information about each type of odds:
Malay Odds
For Malay odds, players need to calculate both their bet amount and their winning amount according to the bookmaker's figures.
There are two formatting types: negative (-) and positive (+) numbers, with money calculated as follows:
Negative: Winnings = (Bet Amount x Malay Odds) + (Bet Amount x 1.00)
Positive: Loss Recovery = (Bet Amount x Malay Odds) + Bet Amount
Indo Odds
Indo odds are a variant derived from Hong Kong odds, favored by many players.
If Hong Kong odds are greater than 1.00, the corresponding Indo odds will calculate similarly to Hong Kong odds.
Calculation methods for Indo odds involve both negative (-) and positive (+) numbers:
Negative: Winnings = Bet Amount + (Bet Amount / Odds)
Positive: Loss Recovery = Bet Amount x Odds
Hong Kong Odds
With Hong Kong odds, you only calculate your winnings with positive (+) numbers greater than 0.00.
Winning Amount = Bet Amount + (Bet Amount x Hong Kong Odds)
Loss Incurred = Bet Amount
European Odds
European odds display both the player's bet amount and winnings as stipulated by the bookmaker.
Therefore, this bet always has odds greater than 1.00, calculated as follows:
Winning Bet = Bet Amount x European Odds
Loss = Bet Amount
American Odds
Lastly, American odds calculate based on Hong Kong odds as follows:
If Hong Kong Odds < 1.00, American Odds = -1 / Hong Kong Odds.
Example: If Hong Kong odds are 0.78, then American odds = -1 / 0.78 = -1.28.
These odds have three main stages: Open Odds, Live Odds, and Running Odds.
Expert Tips for Analyzing Odds
Success in betting with odds requires more than luck; it demands specific skills and experience.
Here are two crucial tips from Ontop88 for sports bettors:
Match Analysis: Analyze match-related information before evaluating odds rather than betting impulsively.
This information includes: player lineups, recent form, injury status, etc.
Probability Formula Application: Probability principles must be followed in betting, ensuring better chances of winning.
Important Considerations about Odds in Betting
In addition to the above, consider these tips on how to read odds at betting sites:
Odds typically end in 0 or 5 rather than other odd numbers. For example, if the odds are 1.34, round them up to 1.35 for easier tracking and calculations.
Avoid betting all your capital on a single match just because of high odds; instead, analyze calmly.
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Conclusion
Understanding odds in football betting is not as complex as it may seem, but it requires bettors to understand and distinguish between them.
Depending on the type of odds chosen, the method of reading and calculating the payout varies, so bettors should be mindful and discerning.
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