In addition to traditional online betting, many bookmakers also allow players to make changes during live matches, reducing the risk of excessive losses. To effectively engage in this type of betting, players need to understand how to read football betting odds. So, what exactly are football betting odds? Let's explore this concept in the article below.
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Understanding Football Betting Odds
Football betting odds are an integral part of online football betting. They represent the payout ratio that bookmakers offer to players when their bets are successful. Odds are often displayed alongside the betting odds and come in various formats, allowing players to comfortably choose their desired wager amount for the bookmakers to settle.
Commonly, reputable bookmakers utilize five types of football betting odds: European Odds, Hong Kong Odds, Malay Odds, Indonesian Odds (Indo Odds), and American Odds.
European Odds (Decimal Odds)
European Odds always show both the bet amount and the potential winnings for players. It's important not to confuse the reading of European Odds with the odds themselves, as they are distinct. If you pay attention, you'll notice that European Odds are always greater than 1.00. To calculate the potential payout when you win, use the following formula:
Potential Payout=Wager Amount x European Odds
If you lose the bet, your initial wager amount will be lost.
For example, if you place a bet of $100 with odds of 1.5, your potential payout upon winning would be $100 x 1.5=$150.
Hong Kong Odds
Hong Kong Odds are read differently from European Odds. When examining Hong Kong Odds, you'll notice that they only display the potential winnings without showing the wager amount. The values are formatted as greater than 0.0. If you use Hong Kong Odds, the formula for calculating potential winnings changes slightly:
Potential Winnings=Wager Amount + (Wager Amount x Hong Kong Odds)
If you lose the bet, your entire initial wager amount is lost.
For instance, with a wager of $100 and odds of 1.5, your potential winnings upon winning would be $100 + (100 x 1.5)=$250.
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Malay Odds
Malay Odds have a similar format to European Odds, including both the wager amount and potential winnings. However, Malay Odds can be displayed as either positive or negative values. This leads to two cases for calculation. Alternatively, you could use specialized football betting odds analysis software to gain a deeper understanding of these odds.
When the Odds are positive, the formula for potential winnings is: Potential Winnings=Wager Amount + (Wager Amount x Malay Odds).
If you lose the bet, your initial wager amount is deducted.
For example, with a $100 wager and odds of 1.5, your potential winnings upon winning would be $100 x 1.5=$150.
When the Odds are negative, potential winnings are calculated as follows: (Wager Amount x Malay Odds) + (Wager Amount x 1.00).
If you lose the bet, your potential payout would be: Wager Amount + (Wager Amount x Malay Odds).
For instance, if you wager $100 with odds of -0.7, your potential winnings upon winning would be: (100 x 0.7) + (100 x 1.00)=$170. If you lose the bet, your potential payout would be: $100 + (100 x (-0.7))=$30.
Indonesian Odds (Indo Odds)
Indonesian Odds are displayed as either positive or negative values, similar to Malay Odds. However, Indo Odds are only shown starting from 1.00. The calculation formula for Indo Odds is identical to that of Malay Odds, as detailed above.
American Odds
American Odds are based on the odds of Hong Kong Odds. There are two possible scenarios:
Hong Kong Odds < 1.00.
American Odds are calculated using the formula: -1 / Hong Kong Odds.
For instance, with Hong Kong Odds of 0.7, American Odds would be: -1 / 0.7=-1.42.
If a player places a $100 wager and wins, they would receive $100 x 0.7=$70. If they lose, the amount lost would be $100 x 1.42=$142.
Hong Kong Odds > 1.00.
For this scenario, potential winnings are calculated in the regular manner. For a $100 wager with odds of 1.3, potential winnings would be: $100 x 1.3=$130. If the player loses the bet, the entire initial wager is forfeited.
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This concludes our comprehensive guide to understanding football betting odds. We hope that the valuable information provided here will help players comprehend football betting odds and apply this knowledge to their betting strategies
