1X2 Football Betting Odds Beginners Guide:
Betting on soccer matches is actually very easy. All you have to do is understand percentages, and the rest is a matter of using this simple knowledge that even kids understand to profit from sports betting.
The odds are multipliers that determine the potential prize. The concept of fair odds means that if you bet on a fair odd, you won’t profit or lose.
Let’s consider a coin flip, for example. There’s a 50% of chance heads or tails. So the fair odds here would be 2.0 for both outcomes.
If you could bet on odds of 3.0 to a coin flip, supposing the coin doesn’t have any dirty trick, you would profit.
The Formula to calculate odds
Each decimal odd has an underlying percentage. The reason why the odds for a fair coin flip are 2.0 is that 100% divided by 50% is 2.0.
It is the result of the division of all flips (100%) by the ones you expect to be heads or tails, (50% in each case).
Of course, sports events aren’t as exact as a coin flip, but some mistakes in the betting markets can be so crazily big that sports fans can profit a lot.
In 2016, the odds for Leicester to win the English Premier League were 5001.0. It means a £10 bet could become a major prize of 50k pounds!
1X2 Odds: Using the Formula
The key to understanding if you actually should like any odd is simple. Try to estimate the chances of the team winning a game. Let’s suppose you believe Real Madrid has a 50% of chance to win the upcoming clash against Barcelona. This means the fair odd would be 2.0. That said, any odd above this would be a valuable odd.
The concept of value in sports betting means that the odds are wrong in your favour, and you can profit if you bet on them.
Measuring your skills: the key to profiting with football betting
It’s difficult to know for sure what were the real chances of any team winning in a past sports event. But there is an indirect way to measure your skills so you can thrive on your quest for profits from your football betting skills.
Simply calculate this: how many picks am I guessing correctly?
If you always bet on odds of 2.0, you need to be right more than 50% of the time.
Let’s suppose you bet 10 times, £10 each time on odds of 2.0 on different sports events.
We have £10*2.0*10 = £200 of potential winnings
original staked amount: £10*10 = £100
Let’s suppose you guessed right 70% of your bets
In this case…
Betting result: winnings of £140 minus original stake of £100 = £40 of profits.
Forty percent surely isn’t a small amount of profit these days!
The Key to responsible gaming: know your goals
If you can understand this simple math, you’ll be able to profit from soccer events if you have a good knowledge of the sports, especially if you are an expert about a particular league.
But professionals really invest time and money to profit consistently. If you just want to have fun, then use these mathematical tricks to boast your victories to your friends.
But remember there’s a big difference between recreational betting and professional betting. And as they say… when the fun stops, stop!