5 Tips for Understanding Football Betting Odds in 2024

Betting or gambling is never a sure way of making money. The matter how good you understand again, luck is still a huge part of the gambling process. If you do not have any luck and if you are against the odds, it is impossible to win. This is especially true for football matches. However, there is a possibility to increase your chances of winning when betting on a certain match. To do that, you will need to figure out exactly how football betting odds work.

However, if you open up a sports gambling website, you will quickly get overwhelmed with all kinds of numbers, abbreviations, and whatnot. For beginners, this whole process can be extremely confusing. Because of this, many people even give up on the idea of gambling on football matches.

But, it is not as complicated as you think. Once you start to understand the pattern, you will have a much easier time working with the odds.

To help you with that, I decided to write this article and provide you the best tips in regards to betting on football matches.

1. Learn the basics

Source: 90min.com

To truly get a grasp on how odds work when betting on football matches, we have to start from the basics.

Remember, once you learn the basics, everything else will come naturally. With a little bit of trial and error and gambling a few matches, you will quickly learn everything there is to sports bets.

So, what exactly are the odds in this kind of match? Well, to put it simply, it is the probability of a certain team winning. In football, two teams face each other which means that one team will have higher chances of winning based on history, players, coaches, skills, etc.

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Of course, these odds are determined by the bookkeeper. Since the bookkeeper has extensive knowledge of the sport, they cannot predict exactly which team has those higher chances of winning.

So, let’s say Chelsea are playing against Liverpool. Based on previous experience and knowledge, the bookkeeper decides that Chelsea is the favorite team. The one that will most probably win. Because of this, he puts the odds at 2/1.

If you put your money on Chelsea and they win, you will double the amount you have originally invested. $10 will turn into $20, $100 will turn into $200, etc.

However, if you want to make more money, you will need to bet on the underdog. In this case, this example, Liverpool is the underdog. Because of this, the bookkeeper places odds that have a much higher return. It could be 3/1 or it could be 10/1. It depends on the situation, the match, and several other factors.

If you decide to put your money in Liverpool, you will effectively make 10 times more than you have originally invested. Your $100 will quickly turn into $1000. But, remember, the chances of the underdog winning are lower.

I talked about the basics of betting on football matches and how to perceive the odds. But, this is where things get a little bit more complicated.

There are several different types of bets. You have the freedom to choose which one you want to play.

2. Money line

This is probably the most famous type of about four soccer games mostly because it is pretty easy to understand and basic. You just have to decide which team is going to win. You can wager home went, away when or, you can even predict a draw.

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Again, this is the simplest method of gambling on sports matches which is why it is so common nowadays.

The odds for this type of bet are usually pretty low, 2/1, 3/1, something like that. Only if a very strong team is playing against the underdog, you will see odds that are 5/1 or even over 10/1.

The great thing is that you can bet online, you only need to find reputable sites. Check out https://ufa.bet/ for more details.

3. Score or no score

Source: pexels.com

This one is a little bit different, but still very simple. It is another way you can grab an easy win. Basically, you have to predict whether a certain team will make a score throughout the entire match. The final outcome of the game does not matter for this bet.

You can bet either towards a score or no score at all.

The odds here are not that much different than the Money Line type of bet.

4. Score prediction

Another type of bet that is simple to understand, but it is very difficult to win. To win this, you will have to perfectly predict the score of the match. Yes, that is right. For both teams.

So, if Chelsea and Liverpool are playing against each other, you will have to predict exactly how many goals both of these teams will make. You can predict anything. It could be 0-0, 2-3, or even 0-10.

Realistically, anything is possible. The outcome can be the exact opposite of what you expected. However, because it is such a challenging bet, the odds look pretty good. You can make a decent amount of money by guessing the correct score.

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You could easily get 10 times or even 20 times return on investment. Turn your $100 into $2000. But, to do that, you will have to be either extremely lucky or have an incredibly good understanding of the teams playing in the match.

5. Double chance

Source: actionnetwork.com

Predicting the correct score is both very challenging and risky. Putting a lot of money into that kind of bet is not exactly a good idea.

So, if you are not the type of person to take unnecessary risk, you can try Double Chance which provides a much smaller risk, but also much smaller odds. The odds could be well under 2/1. For some games, it could be 1/10. Whether that’s worth it, it is up to you.

Basically, you have the option to bet on two choices. You can bet on both teams. You can bet on a draw. Or a certain team with a draw. The chances of losing this bet are very small. Although still possible.

As you can see, once you go through these basics and some of the most common types of bets, you can finally understand the odds of soccer matches.