Placing a wager on sports events can add some excitement to a quiet night as you cheer your bet and your money on the road to victory. Soccer is one of the popular sports watched by over 3 billion people worldwide, and you can place and wager bets through using various online betting sites available on the Internet.
In soccer betting, you win money if you correctly place your bets on the team that will be the winner in the sports event. As simple as this may sound, the odds, on the other hand, typically have a unique format than other sports events that can take a while to master. Nevertheless, soccer odds can help you determine how much you can win when your predictions are correct.
Here is a guide on reading soccer odds to help you place wagers and win bets on such significant sports events as UEFA Euro 2020.
What are the Odds?
Odds are a set of numbers that determines the likelihood of an event to take place. However, in gambling terms, odds are not a representation of probability. Instead, it shows the ratio between the amount bet and the payout. This ratio is based on the possibility that sportsbooks and bookmakers calculated.
The Moneyline Bet
It would help to learn about the ins and outs of Moneyline bets when it comes to betting. Moneyline wager is considered the simplest bet to understand, as it is a straightforward bet that poses the question of who you think will win the match, regardless of the final points or score margins.
The odds on a money line typically include a plus or minus in front of a number. The minus sign indicates the team that is considered the favorite to win, and on the other hand, the positive sign indicates who the underdog is.
Essentially, the odds show the profit a sports bettor will gain based on the wagered amount. Moneyline bets have odds that are attached to both the favorite and the underdog.
Reading Soccer Odds
1. To learn how to read soccer odds, sports bettors can start checking the numbers written alongside a team’s name. These are usually fractional forms, making soccer one of the few sports that present the numerical odds in this format. For other sports like basketball and ice hockey, decimal points are used to indicate the betting odds.
2. In reading sports betting odds, it is also crucial to work out and identify the fractional number’s value. It will give you an idea of what you will earn back in return once you win a bet. For example, when the given odds are 6/1, you will get six back for every dollar you place as a wager.
3. It also helps to pay attention to which side of the line the numbers are in betting odds. The number on the right side indicates the figure you need to invest to receive the number on the left side of the line. So if the odds are 1/4, this means that you would need to invest 4 dollars to make a dollar as a profit. Betting odds like this usually occur when a strong team is matched against a weak one.