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What are Odds?
Have you ever wondered what odds are? In soccer, odds refer to the rate at which the bookmakers pay the players if their predictions turn out to be correct. Each bookmaker will provide different odds based on various factors of the match.
Odds are essential in a match where many players bet together. With these odds, players can determine the amount of winnings they will receive when the match ends.
Usually, odds are not fixed and will continuously change once the game begins, so players need to pay attention. Nowadays, bookmakers offer various types of odds for players to choose from.
Understanding the payout rates of bookmakers will help players calculate their winnings and find out which bookmakers set higher odds for them to participate and make profits.
Common Types of Odds
How to Analyze Decimal Odds - European Odds
The odds for European Odds are always greater than 1.00, and the betting table displays the betting amount and the player's winnings.
Formula for calculating winnings with European Odds:
Amount Received=Betting Amount x European Odds
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How to Analyze Hong Kong Odds
Hong Kong Odds only show the winnings received, making it easy to distinguish from European Odds.
Formula for calculating Hong Kong Odds:
Amount Received=Initial Betting Amount + (Initial Betting Amount x Hong Kong Odds)
How to Analyze Indonesian Odds (IND)
In this format, you will see positive and negative indicators with Odds starting from 1.00 upwards.
Formula for calculating winnings with Indonesian Odds:
Winnings for Positive Odds=Betting Amount + (Betting Amount x Indonesian Odds). If you lose, you will lose the entire bet amount.
Winnings for Negative Odds=Betting Amount + (Betting Amount / |Indonesian Odds|). If you lose, subtract the amount lost=Betting Amount x |Indonesian Odds|
Effective Method for Analyzing Odds
The effective method for analyzing odds is as follows:
Let's assume a 1X2 bet has odds of 1.85, 3.4, and 4.33, respectively. We represent them as F1, FX, and F2 with the equivalent values F1=1.85, FX=3.40, and F2=4.33.
In practice:
If the home team scores the first goal, the price will be equivalent to F1 (Next Goal).
When there is no goal from either team, the price will be equivalent to FX (No-Next Goal).
If the away team scores the first goal, the price will be equivalent to F2 (Away-Next Goal).
Effective Tips for Analyzing Odds
Analyzing odds using formulas can be complex but yields high win rates, sometimes up to 85%, higher than choosing based on intuition and probability. You can apply this odds calculation method to:
Choose teams with a higher percentage of winning.
Focus on teams with lower betting odds.
Focus on betting on higher odds.
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Conclusion
The sharing about the effective method for analyzing odds allows players to determine the right or wrong results more easily. We hope that this betting guide is suitable for you.