The secret to understanding soccer betting odds is first to recognize that they reflect the probability of an event occurring. When you see the odds displayed, they tell you how much you can win if you place a successful bet. For instance, if the odds are 2/1 for a particular team, it means that if you bet €1 and the team wins, you will receive €2 in return. However, the odds also tell you that the team’s winning probability is 33.33% since the probability is calculated by dividing 1 by the sum of the two numbers in the odds (1+2=3, and 1/3=0.3333). By understanding this relationship between odds and probability, you can make more informed decisions when betting on soccer Betway or your preferred bookmaker.
Decimal Odds
Decimal odds have been a popular choice for soccer betting in Europe and other parts of the world for many years. Although there have been no new advancements in probability calculations, American odds have been introduced, which need to be converted to decimal odds to determine potential winnings.
To calculate potential winnings using decimal odds, you need to multiply the odds by your stake and then subtract the stake. For example, if the odds are 8.0 and your stake is €10, your potential winnings would be €80 after deducting the stake.
You can also calculate the implied probability of winning by dividing one by the decimal odds. For instance, if the odds are 8.0, the implied chance of winning would be 12.5%. Understanding implied probability is crucial in developing an effective soccer betting strategy, and it can help you determine if your bets are worth the risk in the long term. Betway is one of the leading bookmakers using decimal odds
Fractional Odds
Fractional odds indicate the likelihood of a team winning a soccer game. To calculate the probability of winning, you can use the formula B/(A+B) = %, where A is the value on the left side of the fraction and B is the value on the right side of the fraction. For instance, if the odds are 8/1, the probability of winning is 11%, while 1/4 odds indicate an 80% chance of winning.
To determine your potential winnings on fractional odds, you simply need to look at the fraction. You will win the left value for every value on the right side of the fraction you wager. For example, on 7/1 odds, for every $1 wagered, you will win $7, while 1/6 odds mean that for every $6 bet, you will win $1.
American Odds
American odds are most commonly used in the United States and are represented by a positive or negative number. A positive number represents the potential profit on a $100 bet, while a negative number represents the amount that must be wagered to win $100. For example, if the odds are +200, you would win $200 on a $100 bet. If the odds are -200, you must bet $200 to win $100.
It’s important to note that Betway soccer betting odds can fluctuate based on various factors such as team news, injuries, and weather conditions. Bookmakers adjust their odds to reflect their customers’ betting patterns and ensure that they make a profit regardless of the match’s outcome.
In addition to the standard betting odds, bookmakers also offer a variety of special bets, such as total goals, half-time/full-time results, and correct scores. These bets allow you to bet on specific outcomes within a soccer match and offer higher payouts if you can accurately predict the outcome.