Betting odds are the foundation upon which punters place their bets, as they indicate the likelihood of an event taking place, and your potential winnings. Betting odds vary between operators, making it confusing for punters. At Gambling Guy, we look into the strengths of sportsbooks based on their pre-match and in-play betting odds selection. We help to provide the Best Betting Odds in India, and Odds Comparison India as well as Online Betting Odds India, and Bookmaker Odds India. We strive to provide the Best Bookmaker Odds and Sports Betting Odds Comparison.
Most important reasons to compare odds
You may wonder – why should I compare odds? Each sportsbook, may be for Cricket, Golf or Formula 1, has its strengths and weaknesses. The odds they offer vary and here are a few reasons why bettors should compare odds:
Speed of updates of the odds
The odds of the betting market keep changing and so you have to keep yourself regularly informed about the current odds. At Gambling Guy, we look into the speed at which the odds are generated and compare operators accordingly. It is in this way that we try to find the Best Betting Odds in India and the best Online Betting Odds India.
In-Play odds comparison
Betting markets offer in-play odds which can change during the match. Generating in-play odds during the event can be difficult. At Gambling Guy, we compare the speed and effectiveness of the in-play odds of different operators. We are proud of our system of Odds Comparison India and try to provide the best Sports Betting Odds Comparison.
Online vs. Offline: Chasing the best odds
There are many offline betting operators present. Since offline betting operators have a long heritage, it is quite natural for punters to gravitate towards offline betting. However, online betting has its advantages too. Here are a few of the benefits of why online betting can be a better experience for you:
Under offline betting, you have a limited number of sports to choose from. However, if you go for online betting and sign up with a respectable operator, you can place your bet on several sports.
The betting odds can be more accurate online than offline. One of the reasons is that if you choose websites like Gambling Guy to compare the betting odds, you will be able to realize which operator to go for. Plus, offline bookies tend to observe betting habits and adjust the odds accordingly. You won’t face this problem when betting online.
When you are betting online, you do not have to wait in a queue. You can go online and place your bets. Time management becomes more comfortable when you are online. The specific instructions you will need are also provided to you, so you don’t have to waste time going through a lengthy instruction manual.
- Flexibility in stake placement
Generally, in offline betting, you have to place a lot of money at stake. On the other hand, online betting sites do not have such demands. You can place a small sum of money for betting too if you are starting off or want to bet for the fun of it.
The history of betting odds in Sports
Betting is much older than written history as people have always bet on an outcome, but most of the bets were on even outcomes like X will win, or X will not win. However, when there are several outcomes of a particular event, that’s when betting odds came to the scene. A booker set the betting odds, and it helped to draw more bets on a single event rather than just on the two outcomes – win or loss. When it comes to Horse Racing, James Ogden was the one who observed and recorded that different horses performed differently in a race and hence, will have a better chance of winning. Thus, bookmaking was developed. The oldest bookmaker who is still around is Ladbrokes.
There are different kinds of odds present in the betting market, with the most popular odds formats being Decimal Odds, Fractional Odds and American Odds.
Decimal odds are quite popular in Europe, Canada, and New Zealand. In these odds, the decimal odds represent the amount that one wins against a wager of $1. It is based on total returns and not on profits, so it already has your stake included in it. You can calculate the total return by:
Total return = Stake x Decimal Odd Number
- Fractional odds explained
Fractional odds are very popular among the top sportsbooks and in the UK. Generally, the odds are represented with a ‘/’ in between two numbers. For example, 6/1 or six to one means that against a wager of $1, you can win $6. You will also get your stake back, so the total amount that you will receive is $7. You can calculate your return by:
Total Return = [Stake x (Numerator/Denominator)] + Stake
American Odds explained
American Odds are quite popular in the US, and here, the odds for the favorites are selected. The odds are selected based on the signs that are attached to it, that is, – (minus) sign and + (positive) sign. When there is a minus sign beside an odd, that means you need to stake to win $100 against it. The positive sign is attached to a team, which is an underdog, and the odds, in this case, indicates the amount won against every $100 staked.
How are odds being calculated
Odds and probability are the two things that run the gambling game. Odds calculate the payouts of a gambler against the stakes made. These odds are based on the probability or likelihood of an outcome. In general, there are two ways in which odds are set. The casino line maker sets the opening line, and then the lines vary according to where the money of the bettors is going. The role of the bookie here is to balance out the line. The second kind of odd setting is where the public sets the odds by placing bets.
How to calculate the expected value
You can calculate your odds by working out the expected value. Before calculating the expected value, you have to:
- Find the decimal odds of each outcome: win, loss, or draw.
- Calculate the winning potential by multiplying your stake by the decimal and then subtracting that stake.
- Divide 1 by the odds of an outcome and then find out the probability of the outcome.
You can put these values in the following formula to get the Expected Value:
Expected Value: (Probability of Winning) x (Amount Won per Bet) – (Probability of Losing) x (Amount Lost per Bet)
How are Premier Leagues/Tournament odds calculated
When it comes to premier leagues or other such tournaments, the sports odds are calculated based on each-way betting odds. You can find the each-way terms expressed as the odds predicting which teams will be on the top 3. Each-way odds are calculated on the following basis:
((Each way terms) of (winner odds – 1)) +1
In this way, you can bet early if you think the odds are strong. You also can trade in and out of the market during the season.
Odds betting strategies
Like all games, there are many strategies when it comes to betting. These strategies may not guarantee a win, but it can give you that extra edge necessary, especially when you are placing a bet. The most successful strategy is to incorporate a mix of the prominent strategies so that you can develop your own which will bring you the most wins based on your betting style.
Here are some of the popular betting odd strategies:
Arbitrage betting strategy is designed to take advantage of the pricing discrepancies present in the betting market. You can make two or more wagers on a single outcome according to this strategy, and hence, the odds can be in your favour in the right situation.
Matches betting strategy is a zero-risk betting strategy that bettors generally use when they wish to put their free bets at stake. If the bettor has placed a bet on one outcome, they can use the free bet on the other outcome and thus, create a matched bet situation where they will not lose money.
The most popular markets in Football
Football (Soccer) is one of the most popular betting sports. The English Premier brings several bettors together and pools in a lot of money. One of the biggest tournaments, the FIFA World Cup, is also a significant player in this industry and globally pools in a lot of bets. Overall, if the total sports betting pools in $1 trillion, football betting makes up 70% of it. In football, there are several popular markets. One of the most popular markets is the First Goalscorer.
Another famous market is Predicting the score. The more surprising the score you predict, the more odds you get. The “Total Goals” market is also quite popular in football, where the total goals in the entire match are decided. You can go for Under or Over betting in this case by predicting the overall goals under and over the limit. A newer market is the To Score Next Goal, which is used during the in-play betting mode. It is based on predicting which team will score the next goal.
Odds Comparison FAQ
When you are going through the odds comparison, you will likely have a few questions. This FAQ might help to clear your doubts:
Top 5 mistakes to avoid when making a deposit
When you make a deposit with an operator, you are making a financial commitment, regardless of the size of the deposit. Here are 5 mistakes that you should avoid when making a deposit:
- Not fully researching the operator: There are many scam operators in the market that might even take your deposit and disappear, making it essential to fully research an operator before making a deposit. Check the licensing and the reviews the operator has received.
- Not checking all the payment options: Always check all the payment options available so that you can make an informed choice, keeping in mind payment methods accepted for deposits as well as withdrawals, processing time and applicable fees.
- Not checking payment modes accepted for bonuses: One of the best parts of gambling online is the lucrative bonuses, but some payment modes are often excluded from the bonus eligibility. So, always check whether your payment mode will maintain your eligibility for the bonus before you deposit.
- Not viewing the odds: The odds that an operator is offering indicates the likelihood of you winning the bet as well as your potential profit. Carefully consider the odds for a bet that you want to place, and check if the risk is acceptable for you before you make the deposit.
- Entering incorrect details: You might want to gamble anonymously by entering fake details, however, this risks your entire deposit being disqualified. The top operators will keep your personal details safe, so if you are depositing with a reputed operator, you should enter correct information.
Is the odds comparison service free of charge?
You can make a free account, and later, you can take help from our odds comparison service.
Why should I not bet with my standard bookie?
When you are using your standard bookie, you will be charged a commission and your bookmaker will also know your habits.
Are there differences between online vs. offline odds?
Offline, your standard bookie may judge your betting habits, thereby adjusting the odds accordingly. On the other hand, online, you get more variety of odds, and there is no adjustment of odds based on your betting behaviour.
As betting odds are such an essential factor in the betting market, you should check up on the Best Betting Odds in India. At Gambling Guy, we ensure that you get the best Odds Comparison India and also the Online Betting Odds India. We also provide different betting tips and strategies so that your betting experience remains top-notch. So, to search for the Best Bookmaker Odds and go through the Sports Betting Odds Comparison, you can trust Gambling Guy.