The online betting world can be a mystery. And for many people, there is no part of it more inscrutable than sports betting odds. Or at least, I’m sure to many of you, that must be how it seems.
In our bid to bring you all you need to know about the best betting odds out there, we’re keen to show that whether it’s the best football odds, the latest odds on UFC, or any of your favourites, this is a topic that can be explored with a little bit of knowledge and the right guidance.
Now, since you’re new here – welcome by the way, great to have you around – we’re not going to assume you’re an expert in regards to sportsbook odds. So, allow us to introduce the core concepts for you to get to grips with. Bookmaker odds are, at first glance, those funny little numbers and symbols you see next to your preferred sports market pick.
What they represent is two-fold: how much you’ll receive if you win your wager and how likely the bookmaker believes that outcome is to come true. Don’t worry, you don’t have to do much work to know how much you’ll receive. Once you have selected a betting market and told the bookmaker how much you wish to bet, the returns should be obvious to anyone who’s done a minimum of research.
If you wish to get a better idea of what the prediction of the bookmaker means, then you can easily do so by converting the odds to a percentage: it translates in a pretty straightforward way. So, remember, however confusing betting odds today may initially appear, they’re really a simplified way of telling you what the operator thinks about the likelihood of that market being correct, and how much you can get if you win.
That’s all there is to it: it may seem tricky to begin with, but there’s really not that much to be concerned about.
What It All Means: Decoding Sportsbook Odds Comparison
We’ve explained that betting odds are pretty simple, but we can appreciate that before you’ve actually placed a bet or tried to navigate around the odds on your various preferred betting sites, it may seem like a steep learning curve. So, while we would ask you to trust us, we’ll also show you why you can trust us.
A key detail to remember is that there are a few different ways of writing down odds. An odds comparison may initially seem very confusing when the sports betting odds are written differently – and this can leave many people feeling as though the subject is beyond their understanding. However, they all are very simple ways of saying the same thing.
Let’s say we wish to say something has a 75% chance of coming true. Well, if it were in fractional odds, that would be 1/3. In decimal odds, it would be 1.33. In American odds – those most commonly used on US sports betting sites – it would be -300.
They all suggest the same implied bookmaker odds probability. You’ll still get your returns laid out to you on the betting slip and no matter which form of odds you have used, the potential winnings all come out the same.
If you prefer one or another, most sites can help make your gambling comparison easier by allowing you to switch between them. All bettors have their preferred ways to read odds, and the formats aren’t that important. They’re simply different methods of presenting sports betting odds. They have no impact on which are the best betting odds. Their returns and implied probabilities can be easily understood, and easily converted to a percentage.
Which Bookmaker Has The Best Odds?
If then, odds comparison is so simple, then surely it will be easy to find the best betting odds and thus, the finest bookmaker – at least in this very important regard. Well, like so many other things, everything is not always as it seems.
Put simply, in all our years of experience, none of us has come across a single bookmaker which always provides the best odds. The reason for this is straightforward: the odds of each market are part of the odds offering of an overall event. So, if there are three markets, the implied probability (and thus return they offer) needs to add up on the bookmaker’s side. If it all came out to 230% or 40%, that would lead to a pretty bad, illogical business plan.
Essentially, it’s not rocket science. They just can’t logistically offer incredibly generous odds all the time on every market, because generosity on one must be balanced on another. However, there are operators which provide consistently fair, generous odds, and that’s part of what our gambling reviews are here to help you learn about.
How Odds Are Calculated And What This Means
To understand odds, it’s a good idea to understand the overround. This is how much all the implied probability percentages come to above 100%. Now, if you have two possible outcomes – as would be the case with tennis betting odds, for example – this is easy to work out.
Let’s use a real life example to help get a proper focus on this subject. A game between Bernard Tomic and Blaz Kavcic sees the former given 4/7 odds and the latter 5/4 odds.
Converted into percentages these are 63.6% and 44.4%. If we add those numbers together, we can see the total comes out at 108%. As one of these outcomes is certain, it should logically come out at 100%. The overround – in this case, the 8% above that – is therefore, the mathematical advantage the operator has over the gambler.
Even the best betting odds have some kind of overround. It’s essentially how operators consistently make money in an ever-changing betting scene. This should also help explain why the odds must work together to be competitive and logical, and why no odds comparison will see one bookmaker always come out on top.
However, you also have your own advantages over any operator. Because they must remain competitive with other bookmakers, their odds have to tilt in the direction of public opinion, how much money is being put on different markets and what other operators are offering. Put simply, their course is set and the bookmaker must follow it.
This means that often, betting opportunities arise because that course has been sent the wrong way. That means that sometimes, bookmakers’ predictions can be drastically wrong. This gives you the chance to take advantage of your perfect betting odds today.
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Why Some Sports Might Have Better Odds Than Others
If you check out what the brains behind this site have been working on in terms of the best sports betting guide articles, you’ll know that we respect each sport as a market of its own. This is especially true when it comes to odds.
Remember how I mentioned that odds are impacted by how people bet and the movements of the market? Well, that means popularity is a factor too. Not only can a very popular market sway sports betting odds but the more popular a sport is generally, the more competitive the betting odds become.
This means that the sportsbook odds for something especially popular like the Super Bowl may be better than the finest odds for a more niche option because operators have less to compete against. Regardless though, the sports betting odds from a quality operator should be fair at all times – and if they aren’t, there will usually be repercussions for the site in terms of popularity.
How to Get the Biggest Boost From Your Odds
Before we complete this bookmaker odds exploration, let’s end with a little expert advice. These words of wisdom have kept many others on the right track, and with luck, they can work for you also.
Utilize our recommendations for the best odds
Our team works tirelessly to ensure that you’re getting the finest betting odds today, each and every day. You don’t have to worry about odds comparisons, because we’ve done the work for you. You have our word that this site will only recommend bookmakers that deliver quality sportsbook odds.
Look for odds boosts!
Who doesn’t like a little extra when it comes to winnings? Odds boosts, enhanced odds, price boosts – whatever they’re called – these are promotions that improve the odds quality on selected markets. Better odds mean even bigger returns and make your best odds even greater. Who wouldn’t want to make a little more when their bets come up?
Use whatever odds type works best for you
This is no great revelation, just common sense. If you’re more comfortable with one form of sports betting odds, whether that be fractional, American or decimal, use it. Whatever makes most sense in your mind makes the best form of odds for you.
When live betting, focus on the return
Things move fast during live betting. For many, the best strategy is to focus on whether you think the returns offered are worth taking, given the situation in the game as it stands.
Remember what you’ve read
Something we always try to impress upon readers is that better betting is all about finding opportunities where you think the markets have got it wrong. Regardless of any odds comparison, and while you should still seek out the greatest odds, this remains your primary objective.
Conclusion: Odds Are Just (A Very Important) Part Of The Process
There is no doubt that sports betting odds are one of the most important considerations when deciding which betting sites are worth seriously checking out. However, they are not the only thing to consider. There’s so much more aside from bookmaker odds comparison to take into account. There’s everything from customer service to promotions, with a whole lot more in between to consider. So, keep your eyes peeled for the best betting odds, but don’t miss the wood for the trees; the best site will be a true all-rounder.
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Bet $1 and Get $200 in Bonus Bets at bet365. Deposit required. Bonus Bets winnings are added to Bonus Bets balance. Bonus Bet wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.
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