People love to bet on various sports for varied reasons. Some do it primarily for entertainment where they are fine losing small amounts of money as long as they are enjoying themselves. The others bet as they feel it is a good way of testing their football knowledge. They love to bet and win just to prove that they have both the aptitude and the skill to make accurate predictions.
Whatever is your motive of betting, some football betting tips will definitely help you better your chances of winning. Any sport betting is actually a simple thing to learn if you get the right information. To keep things straight, you should know that any sports bet – be it football, cricket or basketball – boils down to three basic components.
- Selection: This is the simplest of all things. You just need to decide what you will choose to bet on based on the outcome that you think will happen.
- Stake: Once you know what you will bet on, the stake comes into the picture. It simply means how much you want to bet on. If you are going for smaller amounts, the stakes are low and vice versa. Some sportsbooks define the minimum and maximum stake that you can bet on. You can try betting within the specified range in that case.
- Odds: If we talk in literal terms, odds mean the likelihood of something happening, but in sports betting terms they serve two different purposes. Let’s say, we are talking about football betting odds. Then, firstly it will be used for calculating the pay-outs of winning wagers and secondly they reflect the likelihood of the event happening. If the probability of a particular outcome happening is more, the odds are lower and vice versa.
To understand it better, let’s take an example. Suppose the best football team is having a match with an unranked team. Then obviously the chances of the best team winning the match are high. Thus, a wager on this team winning will have very low odds as against the winner of the unranked team.
These odds have three different formats.
Moneyline or American Odds: It is displayed as a positive or negative number. So, if odds are +150, it means that a $100 bet will give you $150 plus the initial stake of $100. A -150, on the other hand, means that you need to stake $150 to return the initial stake of $150 along with $100 in winnings.
Decimal Odds: The decimal number shows the total pay-out, including the original stake. So, $1.7 means that $1.5 is what you will get for every $1 you staked if you win.
Fractional Odds: It is a traditional format where the odds are displayed as a fraction. If it is 3/1, it means that you will get three units for every one unit you staked.
These are some of the basics that every beginner should be aware of before venturing into betting.