How to Shop for the Best Odds When Betting on Sports Online
Odds offered by an online sportsbook set out the amount that your bet will pay out if your selection comes in. For those who are looking for a good online sportsbook, looking for competitive odds is one of the main things that you should take into consideration before you make your choice, for example by searching the various sites listed on Bookmaker Ratings. Typically, bookmakers will have tight odds, therefore finding the best odds on sports betting online can be a tricky process with so many different options to choose from. Because of this, the most important thing when trying to find the best odds is to shop around, since constantly making bets with bad odds is a recipe for disaster when sports betting.
Reading the Odds
In order to know which are the best odds selections to make, the first thing that you will need to do is be able to read the odds. Most online sportsbooks will provide odds in three different formats; fractional, decimal and American. Knowing how to read all three is definitely a skill worth learning, as this will enable you to get the best value for your bets and improve your chances of winning. Several sports betting sites will also allow you to set it so that you can view only the odds which you are most comfortable with, a feature that’s definitely worth looking for as this will help to avoid confusion when you are reading the odds.
In the UK, the most common format that odds are given in is the fractional format, for example odds of 5/2. These are similar to decimal odds, which come with a decimal number that stands for the money that you stand to win per £1 that you bet. For example, a sportsbook may list decimal odds of 2.6, meaning that you will get £2.60 per £1 that you wager if your bet is a winner. Converting decimal odds into their fractional equivalent is quite simple; all you need to do is subtract one. For example, odds of 4.0 listed on a sportsbook that uses decimals is the same as 3/1 in fractional format.
Shopping for the Best Odds
Once you have a clear understanding of how odds work in sports betting and how to read them, it’s time to get on to the fun part of shopping for the best odds. When it comes to selecting the best odds, there are a few factors that should be taken into consideration, along with some proven tactics to improve your chances of choosing a winner. For example, many bettors find that they select the best odds when going with the ‘underdogs’, as at most online sportsbooks, the odds for the underdogs tend to be better than the odds for the favourites. And, as anyone who follows sports will know, many main sporting events, such as Premier League football, can be hugely unpredictable – only last year did underdogs Leicester take the Premier League title at odds of 5000/1! Along with this, it’s also a good idea to look for events that have well-matched competitors, as when competitors have very similar abilities and records, the odds posted on the events in which they are participating tend to be better than when competitors are vastly different. Likely tie outcomes in events can also present some of the best odds.
Betting on sports can be a very interesting pastime and for many is an easy way to make money. But, if you’re unsure of how to read odds or where to find the best ones, it can be difficult to improve your chances of winning.