Basics of sports betting forecasts
What are odds?
An odds is a number assigned to the two protagonists of a match. When you bet on an online site, the odds of the player, the team, or the result – depending on the bets – are systematically displayed. If you are betting on a football match, when you click on the match on the screen, you will see the odds for each team, for example: Team A: 1.50 – Team B: 3.00.
Who determines the odds?
The bookmaker, and therefore the site itself, determines the odds. It goes without saying that experts in each sport are responsible for assigning the odds to the players. They use their knowledge of the sport in question and computer tools for calculating probabilities in order to propose the most accurate odds.
How is the rating calculated?
The principle is as follows: the more likely an event is to happen, the lower the score. Conversely, if an event has very little chance of happening, it will have a high rating. For example, during a tennis match between the 1st and the 200th in the ATP ranking, the chance of the 200th winning is very low, so its rating will be high. As for the 1st’s score, it will be close to the number 1.
Does the odds influence the amount I can win?
Yes, because your win will be the product of the odds multiplied by the amount bet. Let’s say you bet 5 euros on a team with odds of 2, and if the team you have chosen wins the match, you will win 5 x 2 = 10 euros. So the higher the odds and the higher your bet, the higher your eventual winnings will be.
Are the odds the same on all sites?
No, for the same match, you can find different odds depending on the site you bet on. The differences are not huge but each bookmaker calculates his own odds and for you it may be a good idea to compare the odds offered by each one before you play. In fact, if you are determined to bet on a team and site A gives it an odds of 1.35 while site B gives it an odds of 1.50, you should bet on site B. For a bet of 10 euros, you will win 13.50 euros in one case, and 15 euros in the other.
Do I have to take the odds into account when making my prognosis?
Yes, first of all to estimate the amount you are likely to win. Then, the odds help you to guide your bet. Indeed, to determine the odds, the bookmaker takes into account elements that you may not have in your possession, such as a team’s statistics, recent events concerning it (player injury…), or its current performances at home or away. The odds therefore allow you to confirm or deny your own intuition and bet more serenely.