Expect to constantly deal with the odds when betting on every sport online. These are important values to understand as they tell you how likely an outcome will happen. This outcome varies depending on the market—whether you’re betting on which team will win, what score the game will end, and more.
What stays the same, however, is that betting odds will show you the corresponding payouts you’ll receive if you bet on the right outcome. It’s easy to calculate the odds of your favourite football games, especially with the help of an odds calculator.
Find out its greatest benefits and why you should be more interested in a football betting probability calculator.
Sports betting odds
If you are a new punter, it can be overwhelming to place your first wagers, especially if many numbers are shown on the screen. One of the essential football gambling tips is learning how to read the odds.
Below is everything you need to know about odds and the football odds calculator:
How sports betting odds are calculated
Before using a sports betting calculator, you should know more about the odds first. This will give you an idea of which numbers to subtract, add, multiply, and divide. Depending on the site, there are different types of odds. However, the two most common are the American and decimal betting odds.
American betting line odds have positive and negative symbols attached to them. The negative symbol is assigned to the favourites, while the positive sign is for the underdogs. The numbers tell you how much the payouts will be if you win and how likely each team or player will win the game.
For instance, a football game may have two teams with odds of -120 and +210. This means that wagering on the favourites will have you wager $120 to win $100, which totals your bet to $220. On the other hand, betting on the underdogs only requires you to bet $100 to win $210, amassing a $310 total payout.
Decimal betting odds are considered the simpler version of the two, and punters can immediately calculate the odds by seeing who the favourites and underdogs are. As the name suggests, decimal odds are displayed in decimals or integers.
In a football game, the decimal odds may look like this: Arsenal: 1.2 and Manchester United: 2.3.
To calculate the payouts, all you need to do is multiply the odds by the amount wagered. The larger number is designated to the underdogs, while the favourites have the lower number. If you placed your bets on Arsenal for $10, you receive $12 as your total payout if you win.
Sports betting calculator
A sports betting calculator is a tool offered by third-party websites or an outright feature of a sportsbook to help you accurately calculate the American and decimal odds. This makes it easier when you place your bet or stake.
Just like other sports, football uses probabilities to figure out which team wins a certain match. Bookies make bold predictions based on highly researched data and statistics to know the most accurate odds for each football game market.
Below is everything you need to know about how the soccer betting odds calculator is used in football:
How football prediction calculator works
The football prediction calculator is simple to use when looking at the odds in a soccer match. Watching how your favourite team will score goals and win the game is a great way to closely watch the odds, especially if you are doing in-play betting. This means that you are wagering in a currently ongoing game.
However, the outcomes may differ, so you need to place your wagers smartly depending on other factors. This is where a formula comes in handy, like the Poisson distribution, which tells you the probability of a given number of events occurring in a fixed interval. But with the wonders of a soccer betting calculator, you don’t need to learn how this works and just input the odds directly into the tool.
Football prediction calculator
There is more to learn about the football betting returns calculator than you might initially think. Here are other concepts you need to know about the football prediction calculator:
What is a football prediction calculator?
A football predictions calculator is a betting tool that helps you calculate football-specific odds equations and markets to understand better how the betting scene works.
How football prediction calculator works
As mentioned, a bet calculator is a piece of software that works out the total value of a bet and what the potential payouts are going to be. The way they work is simple. It functions similarly to a regular calculator, but this time with sports betting odds.
Unlike calculators, there are different types of functions when using the tool. For instance, you have true and implied odds to deal with. These are important in knowing if you are making a wager with great value.
Implied odds are the conversion of betting odds into percentages. It accounts for the bookie’s margins to show the probability of an outcome happening. On the contrary, true odds are the actual odds that a team can win, lose, or draw. It better indicates the chances of something happening in sports betting.
In most cases, you also have two options regarding the football bet calculator: Single and multiple bet. A single bet is made when you wager for only one outcome. This is as easy as betting on which football team will win. Meanwhile, a multiple bet is a type of wager that consists of more than one outcome or even teams simultaneously.
The types of football odds calculators come in a three-way, and they are:
- Odds converter calculator: This converts your odds between two common point formats, the American and decimal odds.
- Arbitrage calculator: The arbitrage calculator calculates how much you should stake on the odds to guarantee a profit.
- Margin calculator: This determines how much a bookmaker will charge you for every bet.
Pros and cons of football prediction calculators
There are pros and cons to using a soccer score prediction calculator. Below are the most common ones:
Football odds calculator advantages
When it comes to the benefits of football prediction calculators, the following are some of the best things when using the tool:
- Higher accuracy when calculating the result of the odds
- Faster way to know the probability of certain data odds in various markets
Football odds calculator disadvantages
The following are the biggest drawbacks when it comes to using the football odds calculator:
- Sometimes, the calculator may show you error pages due to bad programming.
- The calculator doesn’t show the risk involved in betting on certain teams, only the flat odds designated on a market or game.
Sports betting at CAT368
If there’s any betting site that you need to go to for the best sports betting experience, CAT368 is the best one. Placing your money on the different football games and betting markets is easy and can yield high payouts.
Whether you’ll calculate the odds the old-fashioned way or through an online betting calculator football, it’s still best to learn about the odds before you bet on sports like football. Learning how to use the football odds calculator will give you an advantage over the others who have yet to know them and make your experience much more enjoyable.
Here are the most frequently asked questions when it comes to the football bet calculator:
How to calculate win probability in sports betting?
There are numerous ways to calculate the winning probability in sports betting, and the best one is using an odds calculator.
How to calculate football betting odds?
There are two ways to calculate football betting odds: Decimal or American format. The decimal format is the simplest, where you only need to multiply the odds by your wager amount. The American odds can be calculated in two ways: For the favourites, divide 100 by the value of the odds. When calculating the underdogs’ odds, divide the odds’ value and times that quotient by the amount of your initial bet.
How to bet on football online?
To get started, visit any sportsbook like CAT368 and pick specific football games to bet on. Look at the odds and make the right wagers. After the games are finished, you may receive payouts if the team you placed your bet on wins the game.
Are football odds calculators accurate?
They are accurate because you can calculate their last decimal point payouts.