Olympics 2021 American Football Cycling Esports Football Poker Politics Rugby Union Tennis Other sports Other odds Old odds Sports Betting Casinos Casinoranker

How Important is Betting using the Highest Possible Odds?

Every bookmaker is trying to convince you they’re offering the highest odds on the market. But why are the odds that important? And what difference does it make if one bookmaker offers and odd of 1.7 instead of 1.78? We’ll take a close look at all these aspects and give you a definitive answer so you won’t have to guess anymore. Of course, before we jump into the action, we will start with some basic information just in case you’ve recently started your journey through sports betting.

How Bookies Calculate the Odds?

Actually, the bookies have very little to do with odds calculation. The odds come from traders based on statistics, history, form and sometimes, wisdom of the crowd. The more data available, the probability for the odds to be accurate increases. Then, when the bookies receive these odds, they add their margin. Let’s imagine a bookmaker’s margin is 5% and that’s being built-in in the odds they will offer to punters. So, if the real odd for a certain betting market is 3.0, after inputting their 5% margin, the odd the punter gets is 2.9.

Now that you know about the margin which is often referred to vig, vigorish, edge, juice or overround, you are better equipped to understand why betting on high odds is important for your overall profit.

How Small Odds Differences Can Make a Difference?

After seeing how the betting margin works and how it can influence your profit rate, it’s time to go even further and see how betting on high odds can really make a difference. We’ll use the example of two friends who are placing identical bets on the same football match.

Both of them place €10 bet on Real Madrid. One of them is betting at a top bookmaker with a low margin and high odds, while the other one has been playing at a different bookie for years that offers lower odds.

  • Punter A - €10 bet on a Real Madrid win @ 1.85 - Payout: €18.5 - Profit: €8.5
  • Friend B - €10 bet on a Real Madrid win @ 1.65 - Payout: €16.5 - Profit: €6.5

At a first look, the difference between the odds for a Real Madrid win isn’t that big. However, if you look at the profit the two punters got, you can’t go over the fact that there’s a 23.52% difference. That’s why it is always very important to do your best and find the bookmakers offering the highest odds possible since your profit in the long run can take a serious cut even though the actual difference between the odds doesn’t look that big. Of course, it goes without saying that the higher the stake you place, the bigger the profit gap will become. So, you should spare no effort when it comes to finding bookies with high odds.

If you’re into sports betting at UK online casino to combine the two products under one account, there are multiple options to choose from. However, for the diversity offered in the casino section and the vibrant pre-match and live betting markets, Wir Wetten looks like a top choice.

The myth that an operator offering both online casino and sports betting products can’t do well on both has no support. Since these top brands allocate enough resources to both products so that they perform excellently and always deliver top services to punters and casino enthusiasts alike!

Final Thoughts

Now that you know just how important is to play with the biggest odds, all you need to do is find the bookies offering them. If you’re into online casinos as well, there are plenty of operators out there offering both products under the same account. Also, you will find plenty of suggestions right here, on our website. Good luck!

The Best Use of Betting Odds

Now that you know how betting odds are calculated and what they mean, there are two more things left to cover: why is it so important to understand betting odds? And how do you go about using those odds to your advantage?

Let's tackle the first question before we move on. Understanding how to utilize betting odds is incredibly important because your money is at stake here. Whether you place small bets - or go for major Bitcoin casino UK wagers - you will always want to increase your chances of winning by betting on the right sports player/team/outcome.

While it might seem more entertaining to rely on your gut feeling to decide, placing random bets gets old at some point. Using math and relying on expert's predictions can help you place smarter bets that are more likely to end up with a win.

Now, to the next order of business: how can you learn the info provided to you by betting odds and make the most of it? Here are a few tips that might prove to be useful:

  • Stick to what you know – To understand whether the odds provided to you by betting websites make sense, you need to understand the sport you're betting on. Use your sports knowledge to make smart and calculated decisions.
  • Do your research – Sometimes, bookmakers provide you with betting odds without considering outstanding conditions. Before you place your bets, try to find an edge that will allow you to beat the odds.