Sports betting has become a trendy way to enjoy a sports event. Sports betting allows fans and bettors to place bets on their teams to earn while enjoying the sports. It has become a great way for people to spend time betting for their teams.
Moreover, sports betting is an easy activity that a newbie can follow. In this case, let’s try our hand at picking a winning soccer team. If you want to try your hands at winning a bet while watching soccer, here are some tips to spot a good team.
Understand Sports Odds
The first thing you need to know, and most importantly, you need to understand, is the sports odds. Odds are presented by the bookmakers that express the possible outcome of a sports event. The odds also show the possible payout if a bettor wins their wager.
There are three types of odds used by different bookmakers: Decimal odds (European odds), Fractional odds (British odds or UK odds), and Money Line odds (American odds or US odds). If you want to win to improve your win rates on soccer betting matches, it’s necessary to understand these figures.
The decimal odds is a straightforward odds that represents the total payout a bettor can get. In other words, the numbers in decimal odds represent the total amount a person can win for every $1 they bet. So calculating this odd is a tad bit easier than others on this list.
For instance, if you have bet $300 on the winning team with 5.4 odds. You can successfully earn $1620 on your payout. This can be better represented as bet x decimal odds of the team = total payout.
Unlike the decimal odds, the fractional odds present the possible profit a bettor can earn. In other words, the odds are the ratio of the profit you can win to the stake. A slash or a hyphen represents the fractions.
For instance, if you bet on a 4/1 odds, you win $4 against every $1 you bet together with your initial bet. So, you can take home a $7 win in the end. If you win with your $20 wager at 7/1 odds, you can pay out $160.
The formula is represented as (amount bet + fractional odds) + stake = total payout to understand the procedure better. So, if you use the example above, you will get (20 x 7/1) + 20 = 160.
This type of odds for the money line is represented with negative and positive signs. The negative sign presents the total amount of money you need to bet to win $100. Meanwhile, the positive sign shows the number of money you can win for every $100 you bet.
READ: What Does -1 Mean On A Soccer Bet?
For instance, a game between Los Angeles Rams (+400) vs. Tampa Bay Buccaneers (-780) took place. The odds will also tell you their probability of winning, where the Rams are the underdog (+400) with a much lower likelihood of winning than the Buccaneers with -780 odds, a favorite.
If you bet on the Rams with a +400 odds, you will need to bet and win $100 to earn the $400. If the Rams were able to win despite being underdogs, you could bag a $400 win in addition to your $100 stake, which totals to $500.
On the other hand, if you bet on the favorite team, the Rams, you will need to bet $780 to win $100. If they can pull off their odds, you can get a payout of $880.
Favorite vs. Underdogs
A favorite is a team that is predicted to win or has the highest chance of winning an event. On the other hand, the underdog is the team with a lower chance of winning and is not expected to win.
You may have wondered what the underdog will get for you? Betting on underdogs gives you a higher payout. Since they have a lower chance of winning, the stakes are higher on this side of the road. This is also what makes sports betting more fun and exciting.
Meanwhile, betting on a favorite presents better odds of winning. Betting on them will not give you a higher payout but a more secure way of returning your bets.
Knowing Your Bets
Next, betting on a soccer game requires you to know the different types of betting options to know which type of bet would suit you best. Also, it would allow you to search the teams better.
Over/Under Betting: This type of bet includes the sportsbook, which presents a predicted total score of both teams. Over/under betting requires you to bet on whether the total score will be over or under the sportsbook’s set number.
Props Betting: Props betting will require the bettor to bet on an event that is not directly tied to the event proper of the match. The most popular type of props betting is whether something may or may not happen, such as who will be able to score first in a participating game.
Future Betting. Future betting is the type of bet that requires you to bet on an event that will take place in the future. The usual future betting for soccer is the Stanley Cups.
READ: How To Record A Soccer Game With A GoPro – Full Guide
Choose a Sportsbook
Sportsbooks are sites or companies that accept bets for different sports events. It would help if you got to be in partnership with a reliable sportsbook so that your chances are safer. Ensure that they are licensed and regulated by the law.
Moreover, it is essential that you first need to know that your state allows sports betting. The US only has around 30 states that legalized online sports betting. If you are caught engaging in sports betting, despite it being illegitimate at the moment, it will result in you facing certain types of punishment.
Now that you are more familiar with how to bet for your team online, you can have fun watching the soccer game while earning on your bets! Just keep all the things mentioned above in mind and ensure to be safe and bet wisely! Tune in for the best online sportsbook available in your state and have fun.