Newcomers to sports betting often find it difficult to figure out how to read soccer odds online. Are you surprised to hear that most bettors choose betting options without understanding their meanings? Studies have shown that around 20% of online gamblers randomly select odds in hopes of winning. While they might get lucky sometimes, they would likely earn more money if they knew how to read soccer odds online, which we will share in this article.
What are Soccer Betting Odds?
Soccer betting odds reflect a bookmaker's opinion on the possible outcome of a match. These odds are provided for bettors to know how much their winning bet will yield after the match concludes. Betting odds are usually higher in the days leading up to a match. As the match time approaches, odds for both teams will decrease, especially for the higher-rated teams. If you know how to calculate soccer betting odds, you'll have a higher chance of winning your bets. The three most common formats for odds are:
Decimal Odds
This is the easiest format to understand. As the name suggests, odds for each team are presented in decimal format. If a team has odds of 2.5, you will win 2.5 times your wager amount if you correctly predict their victory. If the team loses, you'll lose your bet amount. For example, if you bet $10 on a team with odds of 2.5, you'll win $25 and earn a profit of $15 if the team wins. If the team loses, you'll lose the $10 you wagered.
For a team with odds of 4.5, you'll win $45 for a $10 bet, and you can earn $35 if the team you bet on wins. The higher the odds, the more profit you can make if your prediction is correct. The favorite team (higher chance of winning) will have lower odds, while the underdog team (lower chance of winning) will have higher odds. Therefore, betting on the underdog team can yield higher profits.
Fractional Odds
This is a more traditional approach that is quickly being replaced by the decimal odds system. Odds like 2/1 for a team mean that you can win $20 for a $10 bet. Converting fractional odds to decimal odds is easy, especially with online betting.
American Odds
Originating from the United States, these odds are also called moneyline or US odds. They are represented as either positive or negative numbers for each team. The stronger team is assigned a negative number, while the weaker team is assigned a positive number. The minus sign indicates that you need to bet more than $100 to win $100. The plus sign indicates that you need to bet less than $100 to win $100.
When looking at odds, you can also calculate the probability of winning. From the American odds, you can convert your odds into decimal odds to estimate your winning probability.
For positive odds (odds of the weaker team), let's say +300: 1 + (odds / 100) = 1 + (300/100) = 4.0
For negative odds (odds of the favored team) -300: 1 - (100/300) = 0.6
What Do the Plus and Minus Signs Before Odds Mean?
One way to enhance your betting success is by staying updated with daily news through newspapers or accessing news websites. When you understand how to read soccer odds online, you'll quickly identify stronger and weaker teams. Typically, when odds have a plus sign (+) preceding them, it signifies the weaker team, while odds for the stronger team have a minus sign (-) before them.
For example, in American odds, when the number is negative, it means you need to bet more to win $100. If you're betting on a match between Valencia with odds of +300 and Real Madrid with odds of -120, it means that Real Madrid is favored to win this match, and Valencia is the underdog. Betting on Real Madrid won't yield as much profit as betting on Valencia, as the sportsbooks predict a higher likelihood of Real Madrid winning this match.
In this case, betting $100 on Valencia will yield $300, and betting $120 on Real Madrid will yield $100. Of course, your initial wager amount is also returned to you, so you'll receive a total of $400 and $220, respectively.
Conclusion
Soccer odds help you understand how much you can win if your prediction is correct. There are different types of soccer betting odds – decimal odds, fractional odds, and American odds. Understanding these odds formats can greatly improve your betting experience and increase your chances of making informed bets.
