What are Odds? A Highly Accurate Formula for Analyzing Odds

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Gửi lúc: 26-05-2023 09:27:38

Many people enjoy betting on football but do not understand what odds are and how to analyze them accurately. Odds are one of the crucial factors that help players have a higher chance of winning. Therefore, take the time to learn about this topic.

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I. What are Odds?

Have you ever wondered what odds are? In football, odds refer to the exchange rate that bookmakers pay to players if their predictions are correct. Typically, each bookmaker will offer different odds based on various factors of the match.

Odds play a significant role in a match when multiple players bet together. Thanks to these odds, players can know the payout for their bets when the match concludes.

Usually, odds are not fixed and will continuously change once the game begins, so players need to pay attention. Nowadays, football betting platforms offer a variety of odds for players to choose from.

Understanding the payout rates of bookmakers will help players calculate their potential winnings and find which bookmakers are setting high odds to participate and make profits.

In football betting, odds are increasingly attracting many participants because they enable players to earn high profits after each round. In the past, odds were only popular in the Western countries, but now betting has become more widespread in Vietnam, making these odds more common.

II. Common Types of Odds Nowadays

Below, I will share an effective formula for analyzing different types of odds:

Analyzing Decimal Odds - European Odds

European odds are always greater than 1.00, and on the betting board, you will see various levels of betting money and player winnings.

The formula for calculating the winning amount with European odds is as follows:

Amount received = Bet amount x European odds

Analyzing Hong Kong Odds

Hong Kong odds only display the amount of winnings received, making it easy to distinguish from European odds.

The formula for calculating the amount received with Hong Kong odds is as follows:

Amount received = Initial bet amount + (Initial bet amount x Hong Kong odds)

How to interpret Indonesian (IND) odds:

With this format, you will see positive and negative numbers on the odds board, with odds starting from 1.00.

The calculation for winning money is as follows:

For positive odds: Winning money = Bet amount + (Bet amount x Indo odds). If you lose, you will lose the entire bet amount.

For negative odds: Winning money = Bet amount + (Bet amount / |Indo odds|). If you lose, the deducted amount will be Bet amount x |Indo odds|.

Interpreting Malay odds:

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On the odds board, Malay odds will appear as both positive and negative numbers, similar to the currency exchange rate for Indo odds.

The calculation for this type of odds depends on whether the odds are positive or negative. The calculation formula is similar to Indo odds.

Winning bet: Money received from the bet = (Bet amount x Malay odds) + (Bet amount x 1.00).

Losing bet: After the result is known, if you lose the bet, the money received will be Bet amount + (Bet amount x Malay odds).

III. Effective odds interpretation formula:

The odds interpretation formula is applied as follows:

In the hypothetical case, the 1X2 odds are 1.85, 3.4, 4.33. We denote them as F1, FX, F2, respectively, with equivalent values F1=1.85, FX=3.40, F2=4.33.

In practical situations:

If the home team scores the first goal, the odds will be equal to F1 (Next Goal).

If no team scores a goal, the odds will be equal to FX (No-Next Goal).

If the away team scores the first goal, the odds will be equal to F2 (Away-Next Goal).

IV. Effective Odds Interpretation Tips

Interpreting odds using formulas can be complex, but it often leads to high winning rates, sometimes reaching 85%, higher than choosing based on intuition and relying on chance probability. You can apply this Odds calculation formula in the following ways:

Method 1: Choose teams with higher winning percentages

Select teams that have lower winning percentages. This means you will choose from six matches. In this case, there is a high chance of winning four matches and a possibility of losing only two.

Method 2: Choose teams with lower odds

Players should precisely target the team with lower betting odds while the other team has higher odds, equivalent to 90%. By doing so, players will select four matches, winning all of them, and there is no possibility of choosing a losing team.

Method 3: Specialize in over/under bets

Focus more on over/under bets. However, do not be complacent and adhere to the condition that the winning odds for over/under bets should be less than 90%. With this approach, you can select five matches. The probability of winning will be five, and there will be no possibility of conceding any goals.

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V. Conclusion

The above are some tips for effectively interpreting odds, making it easier for players to determine the correct outcomes. We hope that our sharing here will be suitable for you.

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