Jane Njoku

Tell us, how do you read betting odds?

Understanding how to read odds is a vital step you must take if you want to become a successful sports bettor. With a solid interpretation of the odds, you can easily determine how much money you should wager, the bets that have the most value, and what you’ll earn in payouts.

Teaching yourself how to read betting odds is a step you can’t miss if you truly want to become an expert bettor. While a few bettors think of this as being challenging, by investing time and enough practice, you can soon start reading odds.

This article educates new punters like you about how to read, understand, and interpret betting odds and; more importantly how to make a profit with this skill.

See: Betting Basics: Optimizing Your Betting Selections

Types Of Betting Odds

There are three major types of betting odds – Money line (American, Fractional (British),  and Decimal (European)odds. These are simply different ways of displaying the same odds and have no difference in terms of payouts.

Fractional odds are the ratio of the amount (profit) won to the stake, decimal odds represent the amount you win for every $1 you wager, and money line odds depending on the negative or positive sign, show the amount you wager to win $100 or amount to win for every $100 you stake.

What are Money Line, Decimal, and Fractional Betting Odds? 

When odds are represented in moneyline, decimal, or fractional formats, they are that way for two reasons:

• To signal the implied probability of the outcome they are attached to.
• Indicate how much money bettors could win betting on that outcome.

Money Line Odds

Money Line or American betting odds are displayed as any three-digit number with a plus (+) or minus (-) sign in front of it; +150 -200, etc.

The plus and minus signs on a betting line show your prospective payout and if you’re backing favourites or underdogs. 

The favourites are identified by negative numbers, this number indicates the amount of money you should bet to win $100.

Positive numbers represent underdogs and show the amount of money you’ll win if you wager $100.

Most prominent wagers including many points spread bets have two sides with negative odds. This is because point spread aims at levelling the playing field between both sides.

Calculating Winnings With Money Line Odds

To win $100 on the favourites (Bruins), you need to wager $130. For the underdogs (Canadiens) a wager of $100 will win you $110.

For a wager of $40 on Boston (-130), the equation looks like this:

• Cross-multiply for 130x = 4000 and solve for ”x”
• x= 4000/130
• x= 30.77

A $40 bet on Boston wins you $30.77 and you get a $70.77 payout (original wager + winnings).

Betting $40 on Montreal (+110) the equation will look like this:

• Cross-multiply for 100x = 4,400 and solve for ”x”
• x= 4000/100
• x= 44.00

A wager on Montreal gets you $44.00, the total payout is $84.00.

Calculating Implied Probability With Money line Odds

Implied probability is the likelihood of an outcome given by the odds. To solve it, you’ll convert odds into a percentage, indicating the likelihood an event will happen vs. the alternative.

This concept is important because if your estimate of the probability of an event happening differs from a sportsbook’s you can adjust your bet accordingly. E.g if a team had a 60% chance of winning and its implied probability was 52.4%, it would be a smart wager.

The formula for calculating implied probability is:

• Risk/Return = Implied Probability

In American odds implied probability can be used in positive and negative odds. 

Formula For Positive Odds:

This formula can also calculate Montreal’s (+100) implied probability of winning the game. 

From the equation, Montreal has a 47.6% chance of winning.

Formula For Negative Odds:

Boston’s (-130) implied probability of winning the match, can be calculated with the above example.

The bookmaker predicts that Boston has a 56.5% chance of winning the game.

See also: Betting Basics: How Do Bookmakers Make Their Money?

Decimal Odds

Decimal or European odds are the easiest betting odds to work with, and are displayed like this: 

Calculating Winnings With Decimal Odds

To determine your payout with decimal odds, just multiply your wager by the odds assigned to the team you’re backing. For calculating winnings, subtract the original wager from the payout.

Calculating Implied Probability 

Use this formula to get the implied probability of decimal odds.

• Implied Probability: 1/Decimal Odds

The equation below provides Kansas’ implied probability of winning:

• Implied Probability: 1/2.40 = 41.7%

Cincinnati’s chances of winning:

• Implied Probability: 1/1.61 = 62.11%

Fractional Odds

Fractional or UK betting odds are popular in the UK and are used to bet on horse races. These odds are represented as – 9/5 or 1/2. When pronouncing the odds you’d say ”nine to five” or ‘one to two.”

In fractional odds, the number on the left determines how many times bookies expect an event’s outcome to fail, while the number on the right is how many times the outcome is expected to succeed.

How Fractional Odds Work

If Oleksandr Usyk gets 8/13 odds for an upcoming fight with Anthony Joshua, the odds state that if their fight happened 21 times (8+13), Usyk would lose 8 matches and win 13.

The implied probability of Usyk winning is calculated by the number of times he is predicted to win (13) divided by the total number of trials (21). This gives Usyk a 61.9% chance to win the fight.

Look at the math below:

To calculate Joshua’s probability of winning the fight, you’d use the same equation. If the odds are 11/8, and the fight happened 19 times (11+8), Joshua will lose 11 times and win 8 times. The probability will be 8 divided by 19. Joshua gets a 42.1% chance of winning the fight.

The formula looks like this:

Without factoring in the probability of a draw, the total of the probabilities is already past 100% (61.9 + 42.1 = 104). The implied probability of the two outcomes when summed up will be over 100% no matter the odds format.

If Usyk is your favourite (8/13), multiply your wager by the quotient of 8 ÷ 13 (0.615) to calculate your winnings.  A $10 bet, provides winnings of $6.15 (10 x 0.615). In which case you get $16.15 back ($10 bet + $6.15 winnings).

Follow this formula:

When betting $10 on Joshua, multiply that amount by the quotient of 11 ÷ 8 (1.375).  Winnings would be $13.75 ($10 x 1.375). Your payout sum would be $23.75 ($10 initial stake + $13.75 winnings). 

Use this formula:

How Do Betting Odds Correlate With Payouts?

Betting odds are tools that disclose oddsmakers’ stances on a match, event, or proposition. They indicate how much money you’d stake to win a stated amount.

Commonly Used Sports Betting Odds

There are a few common points spreads, money lines, and odds that you’d see in sports betting, we laid them out below, including what they mean.

1. +7 Spread

A team with a +7 spread is simply the 7-point underdog. When backing underdogs, they need to win outrightly or lose by 6 points or fewer. 

If they lose by 7 points it becomes a push (tie) and you get your money back.

2. +4.5 Spread

The +4.5 spread represents a 4.5-point underdog. For this odd, there is no push. If the 4.5-point underdog wins the game or loses by four points or lower, it “covers the spread.”

But if they lose by 5 points or more, it doesn’t cover the spread. When a half-point is included in a point spread, there is a final winner and no tie.

3. +350 Odds

These are money line odds that show the team as a significant underdog, with a 22% implied probability of winning. 

If this underdog pulls off an upset and you backed $100 on them, you’ll get a $350 payout (plus your initial $100 stake).

4. +125 Odds:

Teams with odds of +125 are small (short) money-line underdogs. Betting $100 on them yields a $125 profit.

5. 20-to-1 

20-to-1 odds indicate a long shot that’ll probably not win. The implied probability of winning for a team that is 20-to-1 is 4.76%. 

But, if this long shot is a winner, it’d pay %20 for every $1 wagered. That means a $1,000 bet on a 20-to-1 shot brings a profit of $20,000.

6. 30-to-1

30-to-1 is the same as 20-to-1 but for a bigger underdog. The implied probability for a win shifts to 3.23% but with a larger payout potential.

7. +600 Odds

+600 odds are money-line odds for a big underdog that pays $600 on a winning $100 wager.

8. +1200 

This is another Moneyline odds for a heavy underdog. A $100 bet on a team at +1200 means a payout of $1,200 if it wins.

9. Minus 160

“Minus 160” refers to a simple money line favourite. You’d need to stake $160 to win $100 on a -160 favourite.

10. +700

Teams that are +700 in a match are underdogs with 7/100 odds of winning. A $100 wager pays out $700.

11. +900

Backing a team with +900 means you’d win $900 for each $100 you bet. This odd is considered to be a sizeable underdog in sports betting at 9/1.

12. +600

Teams with +600 are big underdogs. However, $100 stakes on them would return $600 for the risk of backing a team 6/1

Frequently Asked Questions About Reading Betting Odds

For this section, we have compiled a list of some frequently asked questions about reading odds which you might have, and their answers too.

1. What Is The Vigorish?

 A vigorish (vig or juice) is the amount a bookmaker charges you for placing your bet. It’s their commission for services they provided to you.

Vig amounts are different across sports and wagers, and you can’t easily determine vig by reading odds.

2. What Is Chalk In Sports Betting?

“Chalk” in sports betting addresses a team that is favoured on the odds board; the heavy favourite. Small chalk, on the other hand, refers to the slight favourite.

3. What Does A Pick’em Mean?

A pick’em means a match that has no favourite or underdog. Both sides are viewed as equals and no point spread is listed.

There are two ways bettors can spot a pick’em:

First, the money line odds are the same for the two teams – they’ll be listed at +100 (+100 is the sports betting equivalent of ”even”).

Pick’em point spreads, have the regular number on the betting board – for example, -2 or +4.5  replaced by the two letters PK.

At sportsbooks, are pick’em looks like this:

• Team A (-110) vs. Team B (-110)
• Team A (+100) vs. Team B (+100)
• Team A (PK) -110 vs. Team B (PK) – 110

4. What Are 7 To 2 Odds?

7 to 2 odds show that every $2 wager can win you $7 if the bet is a winner. In fractional odds, the number on the left represents how much you win, and the one on the right indicates how much you should stake.

5. What Does +200 Mean For Odds?

As a Money line odd +200 expresses the amount you could win if you stake $100. If the bet works, you’ll get a total payout of $300 ($200 net profit + $100 initial stake.

6. What Are Vegas Odds?

Sportsbooks used vegas odds. Money lines, point spread, and the total number of points the bookmaker predicts to be scored are all incorporated into this odd.

Vegas odds allow bettors to bet over or under bookmakers’ scores and select what they believe the difference in points will be.

Now that you have acquired enough knowledge on reading betting odds, you can show off your expertise, by placing wagers to start winning some money on your favourite Prediction site.

Further Reading:

Betting Basics: The Different Types Of Sports Betting

What is the relationship between football prediction and statistics? 

Throughout the years, football has stood tall as one of the most popular sports in the world. And even after all this time, fans have never gotten tired of betting for football or discussing it with fellow enthusiasts. Yet, there has always been one subject that doesn’t get talked about enough and it is the influence of statistics in football prediction.

When it comes to football statistics and its scope in this beloved sport, information is power. The football industry relies heavily on statistics for a number of activities – improving player performance, scouting, injury prevention, and the team’s overall quality of play too.

But what are some ways statistics have influenced Football Prediction? How do we identify this impact? This article seeks to discuss this at length and provide some clarity for you as well.

PS: If you’re looking for an incredible Football Prediction Site, you might want to check out MatchPlug.

Article Content:

1. What is statistical football prediction? 
2. Rise of statistical analysis in football prediction (how it came to be)
3. History and the use of statistics in football
4. How statistics are used in football prediction today
5. Statistics that matter when predicting football matches
6. Basic statistics that are employed for football prediction
7. Pros and cons of using statistics in football prediction

Read: Football Betting: Important Facts And Questions That Must Be Answered

What Is Statistical Football Prediction?

Statistical Football Prediction is a method used to predict the outcome of football matches by using statistical tools. The aim of this method is to outdo bookmakers’ predictions, who use them to set the odds on the result of football matches.

Ranking is the most commonly used statistical approach to football prediction. Football ranking systems rank teams based on their previous game results so that the strongest team is bestowed the highest rank. The result of a game can be predicted by comparing opponents’ ranks.

There are different types of football ranking systems, so popular ones are FIFA World Rankings or World Football Elo Ratings.

Another method used for football prediction is rating systems. While ranking systems focus solely on team order, rating systems assign to every team a continuously scaled strength indicator. 

Furthermore, ratings can be assigned to not just a team, but to its attacking and defensive strengths, home field advantage, and skills of each team player too.

Drawbacks In Ranking Systems Football Match Predictions 

There are three core drawbacks in football match predictions based on ranking systems.

1. Ranks assigned to each team do not show a clear difference between their attacking and defensive strengths.
2. Ranks are accumulated averages and do not account for skill changes in football teams.
3. The ranking system’s main goal is not to predict football games’ results, but to sort teams according to their average strength.

Rise Of Statistical Analysis In Football Prediction (How It Came To Be)

Charles Reep a Royal Air Force accountant was the first advocate of using statistics in football. Reep started collecting and analysing football using data after the Second World War. His research concluded that most of the goals in games, came from moves which didn’t have more than 3 passes, this was what birthed the long ball theory.

Reep’s work heavily influenced the modern game, but his theory was later disproved by Jonathan Wilson, who concluded that Charles’ analysis showed that 91.5% of moves in the games he studied had 3 passes or lower and logically it would mean that 91.5% of all goals scored in football would come from movers with 3 passes or lower.

However, Wilson stated that the problem wasn’t with Reep’s data collection, but with how it was interpreted.

Jonathan Wilson proved that data isn’t enough to give teams a competitive edge – being able to interpret it was just as important. Due to his findings, data analysts have become an integral factor in football prediction over the years.

History And The Use Of Statistics In Football

While statistics have been used in football prediction over the years, they didn’t become prominent until the 21st century. Until then, the only noteworthy information was keeping the score on goals.

Today, statistics is being massively used by bookmakers and odd compilers as a tool for football prediction or even championship tournaments. Although statistics are still relevant and help bettors avoid guesswork when placing wagers, they can still be interpreted. For instance, a player who had fewer passes than their teammate may seem like he didn’t pull his weight in a match, but when factors like his playing only as a substitute in the last 20 minutes of the game are considered, everything changes.

Using statistics in football is one sure way to identify the strengths and weaknesses of a team, which in turn facilitates more predictions within a match. But, statistics don’t always provide context for a particular match and as such can be misleading.

See: Key Differences Between Betting For Fun And Betting For Profit

How Statistics Are Used In Football Prediction Today

There are a lot of different ways statistics are used by football clubs today. We have listed the core ones below:

1. Scouting Talent

Scouts from football leagues use statistical databases to search for talented players quicker and more efficiently. This saves clubs money and time because the scouts can use a system that lets them narrow down to a specific number of players. 

They can also use that information to decide which player is worth watching play.

2. Training Players

Coaches can benefit from statistics as much as CEOs of regular companies can. With the use of statistical analysis, they can gain an edge over their competition. They deploy wearable technologies that monitor stats like distance covered by players in a match, and the positions they occupy on the pitch.

This information helps coaches build tailored training sessions for players to ensure that they perform at the highest level possible. These training strategies also ensure that players don’t get injured during the season.

3. Assisting Punditry And Commentary

Apart from teams and coaches, commentary teams and pundits also benefit from statistics, using it to increase the value of entertainment for their viewers. 

Pundits on segments like Monday Night Football (MNF) use statistics to offer play-by-play explanations, discuss predictions, and provide context to comments they made during a match.

Statistics now play a major role in the way football is played and enjoyed by bettors. They provide good options for analysis.

Statistics That Matter When Predicting Football Matches

Statistics can be very helpful to football personnel, bettors, and even a Hot Prediction site offering Football betting tips, yet they can be misleading. But, there are still some stats that have proven to be more helpful than others when predicting the outcome of a match.

After all, some game analyses have employed the use of probability distributions like the Poisson distribution. This brings us to our first point:

1. Poisson Distribution

A Poisson distribution helps to predict the probability of certain events happening in a situation in which you know how frequently the event has occurred.

2. Current Form

The current form of the teams playing in a match is one factor that significantly impacts a game. Knowing the history of a team can be helpful when you need to acknowledge its importance and value over the years. 

But, if you’re predicting a specific result in a matchup, look at more recent games. Recent games can be a crucial factor especially since they show the total form of a club over a short period before an upcoming game.

3. Home Advantage

Home advantage is another important factor that gets ignored in football prediction. It doesn’t come as a shock that some matches feel different depending on which field the teams are playing on and this is no coincidence. 

When a club is playing on their home field, its performance is improved mainly because the team have mastered the ins and outs of the field. This advantage is further fuelled by the support of the home crowd’s cheers which helps too.

4. Home And Away Record

In addition to the current form of a team and home advantage, the home and away records are also key factors in the prediction of football matches.

These records show how a team has performed in certain situations and if there is a massive shift in performance when the teams play home or away games.

5. Injuries And Suspensions

Injuries and suspensions play an essential role in predicting a football game. If key players in a team are absent during a match, this can determine the outcome of a match. 

This is particularly true if the teamwork and dynamics noticeably shift because of the absence of some players.

Basic Statistics That Are Employed For Football Prediction

There are certain statistics on clubs and players you’re likely to come across when betting for football. The number of stats at your disposal is endless, but we’ll be focusing on the most common ones.

These are 6 simple statistics that readily provide you with vital information for your football prediction.

1. Points Per Game

Points per game are one of the simplest stats you’ll come across. It is calculated by dividing the total number of points a team scored throughout the season or any other given period by the number of games they played. This gives you the average number of points they scored in a game.

While this helps in measuring how effective a team is at scoring, it overlooks other important factors and doesn’t give much information. But it is great for betting on totals.

Points per game are also used to gauge the number of points allowed by teams. This isn’t very useful statistics, however, it gives you insights into a team’s defense and is still good for betting on totals.

PPG stats can calculate the PPG differential, which is the difference between the average PPG scored and the average PPG allowed. A club with a PPG score of 40 and a PPG allowed of 30 will have a PPG differential of 10. This figure provides a better indication of a club’s overall quality because it considers both its offensive and defensive strength. Although it is still limited.

2. Yards Per Game

Yards per game is another simple statistic for football prediction. YPG measures the average number of yards acquired by a team or single player per game. The higher number: the better.  YPG is a limited statistic too, but it gives some insight into the quality of a team or (player).

Just like PPG, YPG too has a stat for YPG allowed by the team. When assessing teams using Yards Per Game allowed, it’s a low number you’re looking for. A defensively strong team will often aim for less than 300 yards per game on average.

The number of yards gained, or allowed by a team doesn’t give bettors much information on its own, you’d have to consider style of play too. Few teams’ styles the total number of yards generated is less important. YPG is indicative of a team’s quality and efficiency.

Furthermore, note that the total number of yards gathered by a team can be broken down depending on how those yards were generated. There are also statistics based on:

• Passing Yards – this measures the total amount of yards gained on completed passes. 
• Rushing Yards – measures the total amount of yards gained by rushing players, where a player with the ball in his possession.

Breaking down a team’s YPG into passing yards and rushing yards gives you more clarity of their quality, especially when compared with other factors like playing style. 

3. Third Down Efficiency

Third down efficiency is often a team’s final chance at maintaining possession. If they can’t convert a third down, they’ll either punt the ball to their opponent or settle for a field goal attempt. So, a team’s capability to convert their third downs is vital in terms of their overall quality and effectiveness.

This is why a team’s third down efficiency stats prove useful. It tells bettors what percentage of a team’s third downs lead straight to first downs or scoring plays. The higher the percentage, the more successful a team will be at converting their third downs. The better a team gets at converting third downs, the higher their chances of winning.

4. Sacks

The number of sacks by a player speaks to his quality, the same way a team’s total number of sacks shows how strong they are defensively. Sacks are another stat that gauges how well a team is presently performing or will perform in the future.

When using these statistics, you must be careful as it doesn’t tell you much by themselves alone. You can achieve high sack totals without playing effectively, and a team can be effective without recording high sack totals.

As a bettor, use sacks only as general guidelines for measuring teams’ quality and effectiveness.

5. Tackles

Defensive players depend on tackle to limit the yards the opposing teams’ offensive players gained. This makes the number of tackles made a good statistic for assessing the effectiveness of defensive players and the team’s overall defensive quality.

Tackles are useful when evaluating on an individual basis because a player who makes lots of tackles is definitely onto something, but it doesn’t have to be on a team basis. For example, a player might be forced to make lots of tackles because some other area of the team is weak.

6. Interceptions

The number of interceptions is another statistic you can use to measure the quality and effectiveness of defensive players. Especially in terms of cornerbacks, safeties, and linebackers, because they are the ones tasked with covering opposing receivers in the passing game.

One big problem with this statistic is that the number of interceptions a player makes is not very high. You can get this information by examining the highest totals by the team for a season.

Check: Top 10 Football Betting Websites To Follow In 2023

Pros And Cons Of Using Statistics In Football Prediction

You need to decide if you want to use statistics or not in your football prediction. You can begin by finding out what benefits stats offer you. 

You must also understand that stats are limited in the information they give you and it comes with its own disadvantages too.

Advantages Of Statistics in Football Prediction

There few core advantages of using statistics, one of the most obvious ones are that they are based on measurable and quantifiable data.

Another thing statistics do is that they help you easily identify strengths and weaknesses, compare the quality of each team, and make more informed predictions.

Disadvantages Of Statistics In Football Prediction

There are some disadvantages to using statistics in football prediction too. The prominent ones are that they don’t provide context often and lead to you ignoring other factors.

Statistics by themselves can be a bit misleading because they don’t provide context all the time. Especially with player stats. Looking at one or two stats for a football player can’t immediately tell you how good a player is. 

Player stats can give you information about a player,  but you will have to consider more factors too.

Further Reading:

Fixed Matches: The Biggest Betting Scam

How Much Can You Make Following A Tipster?

What are the types of sports betting?

One of the reasons why sports betting is great is that there are lots of ways you can bet on a game. You don’t need to just bet on one team you expect to win a match, you can bet on the probabilities like the margin of victory, total number of points scored, and different types of bets too.

But, sports betting is still a complex passion and has lots of depth. Most of its depth is based on the fact that there are a variety of options attached to the type of bet you want to place.

Whether you are an experienced or new bettor, have a good understanding of the bet types you can wager on. The more knowledge you have, the more informed your betting decisions will be.

With this in mind, let’s now talk about straight bets, money lines, point spreads, and prop bets. Let’s talk about the betting options that are available from your sports books.

Read also: Key Differences Between Betting For Fun And Betting For Profit

13 Types Of Sports Betting 

Below are the types of sports bets and how they work:

1. Money Line Bets 

Moneyline bets are the most common and simplest bet types. When you bet a team’s moneyline, that means you’re backing them to win.

For instance, if you favour the Cincinnati Bengals to win, you’d bet on their moneyline. If the Bengals win, you win your bet. But if they lose, your bet loses.

When you visit a Prediction Site, money lines are the first bets you see, then points spreads and totals.

These types of bets differ in the odds they provide. A match might have an underdog with long odds and a huge potential payout, while the favourites who are expected to win have short odds and low payouts.

2. Point Spread 

Point spreads are entertaining for more experienced bettors because they level the playing field.

Here, the underdogs are given additional “phantom” points. The bets may be listed as:

• Buffalo Bills +14 (-110)
• Cincinnati Bengals -14 (-110)

In this scenario, the Bills are expected to lose by 14 points. The oddsmakers gave them 14 “extra” points to add to their total.

For that bet to the payout, Bills must win or lose by less than 14 points.

If the final score is Bills 21 and Bengals 27, that would mean that the bills covered the spread. With the extra 14 points given by the point spread, they would have won over the Bengals.

Similarly, the Bengals would need to defeat the Bills by more than 14 points to cover the spread. A final score of Bengals 31 and Bears 10, would show that Cincinnati covered the spread and won the bet.

3. Handicap Bets

Handicap bets are quite similar to point spreads and are one more way for sportsbooks to level things for unevenly matched teams or players. The handicap present is to give an advantage to underdogs by giving them a “head start” the favourite has to overcome.

The advantage a head start gives comes as points the underdog starts with to get an edge. The favourites must pass the edge or the underdogs use it to their advantage and you win that wager.

Here’s an example:

Manchester United is favoured against Leicester, this is the handicap the bookmaker gives:

• Manchester United: -3
• Leicester: +3

This simply means that Leicester is starting the game with 3 extra points. If you back Manchester United, you’ll have minus 3 points from their final score. If they have more points than Leicester after the subtraction, then you win the bet. 

Or maybe you backed Leicester as the underdog. You’ll add 3 points to their total score, and if it’s higher than what Manchester scored, you’d win the bet.

If Manchester scored three goals in that match, the official score is – Manchester 3 – Leicester 0.

But with the underdog’s handicap, the final score at the sportsbooks will be:

Manchester United 3 – Leicester 3

A handicap like this for Leicester creates a tie, so if you bet on them for the match, you’d win the bet.

4. Over/Under (Totals)

The over/under bet also known as totals bet is a wager made for the combined score of two teams playing in a match.

You bet against a total set by the sportsbook and if the combined score will fall over or under the number given.

If you’re previewing the NBA odds at a sportsbook for the Golden State Warriors playing the San Antonio Spurs, the over/under for the game is 214. You’d think the matchup will be a shootout and wager on the over. If you win, you collect your earnings.

Over/under are typically set at around -110 unless the total is overly high or low. This means betting $110 on the over would earn you $100 if it won.

Total bets are another simple wager you can make whether you’re betting for football in the NFL, NBA, NHL, MLB or collegiate sports. These types of bets are present in halftime or period scoring.

5. Parlay Bets 

A parlay bet is a wager made on multiple bets winning. For a parlay to win, every “leg” or bet in the parlay must win for you to cash out your bets. If what you have is a four-leg parlay and only three bets win, you’d have a losing parlay ticket.

Although most experts advise that you stay away from parlays because they suck you in, these bets are attractive because with a low amount you could win a larger amount, as your profits get multiplied after every win.

So, betting $10 on a five-leg parlay including:

• Boston Bruins Moneyline (-215)
• Vancouver Canucks Moneylines (-155)
• Pittsburgh Penguins+4.5 (-110)
• David Pastrnak to score (+650)
• Sidney Crosby to score 20 points (-105) 

If all these 5 bets won, you’d earn a payout of $663.80.

See: Betting Basics: Optimizing Your Betting Selections

6. Teasers

Teaser bets allow you to change the lines of two bets by a set amount. If you were betting on these lines:

• Los Angeles Lakers – 5.5
• Dallas Mavericks -4

But you believe these teams could profit from a boost because you reckon both games are close.

You could “tease” this parlay by +5 points, adding 5 points to each point spread to get:

• Los Angeles Lakers – 0.5
• Dallas Mavericks +1

The spreads changed by 5 points each, and the odds of this two-leg teaser parlay are now +100.

Bettors who track a team’s performance over time, use Teasers.

7. No Draw Handicaps / Asian Handicaps 

No Draw Handicaps and Asian Handicaps are pretty much the same concepts, except Asian is only used in Soccer Predictions.

If Manchester United and Leicester ended up in a tie, bettors who prefer a straight win-or-lose scenario will opt for a No-draw handicap bet.

No-draw handicap bets use partial numbers so that there won’t be a tie. This can be 0.25, 0.5, or 0.75 increments.

Handicap -0.25

• Manchester United: -.025
• Leicester: +0.25

Manchester is favoured over Leicester by one-quarter of a goal. This quarter minimizes the risks because you can choose two options not to lose your bet. 

If you bet on Manchester and they win, you do too. If the match ends in a tie and it’s like “half a loss” you’ll get half of your original bet back.

Handicap 0.5

• Manchester: -0.5
• Leicester: +0.5 

Manchester United is now being favoured as a half-goal better than Leicester. If you wager on Manchester they must win outright for you to win your bet. The underdog bet for Leicester is considered a win if they win the match outrightly or tie.

Handicap 0.75

• Manchester United – 0.75
• Leicester: +0.75

If you’re betting on Manchester as the favourites, and they win the game by two goals or more, you win the bet. If they win by a single goal, you’ll earn half of your wager back. If they tie or lose, you lose the bet.

Leicester ending in a tie or winning outright means that any bet you place on them as the underdogs will win. If they lose by a goal, you get part of your wager back. If they lose by two or more, you lose the bet.

No-draw/Asian Handicaps are a solid way to minimize your risk. Instead of a typical bet that gives you the option to win, lose, or draw, you’d be getting a one-in-two chance of getting half of your money back.

8. Futures 

Futures bets are a wager you place on something to happen in the future. They are offered mostly on season-long championships in major sports, individual awards like the Golden Boot, or standalone events like the Daytona 500.

These types of bets are still moneyline bets and are represented in the same way. If you want the Chicago Bears to win the Super Bowl at +500, then a $100  bet will net you $500 if the Bengals win the title instead.

However, this bet comes with a risk/reward component; if you bet in advance, you get more favourable odds than you’d get if you wager close to the event. Still, any player injuries or sudden factors can topple your team’s hopes of winning and your hopes of collecting your due earnings.

Futures are thrilling, simple bets to make, and are available in every sportsbook. They’re most effective when you find very favourable odds on a team or an athlete that can buck the odds to become the champion. 

9. Live Betting (In-Play Betting)

A live bet or in-play betting is a wager you place after a game has started.  These types of bets are fun because the odds change based on what’s happening in a match.

Apart from using live bets on other types of sports betting like money lines, spreads, and totals, you can live bet too on specific wagers like the next possession.

10. Prop Bets

Prop bets or proposition bets are wagers that don’t really affect the outcome of a match. Instead, they include stats about an individual player’s or team’s performance that don’t affect the final result.

Player props are common in Basketball Predictions, like the following examples:

• Steph Curry to score 40+ points (+340)
• Anthony Davis over 6.5 rebounds (-104)
• Luka Doncic to hit a home run (+410)

Proposition bets span across different occurrences. 

You can wager on all types of different props for various sports.

11. Ifs & Reverses 

Reverse and “if” bets can be a bit complicated, so rank-and-file bettors don’t use them often. 

“If” bets string wagers successively: “If I win this game, then I bet on that game.” This is a good way to use your bankroll modestly, and your winnings to bet more often, provided you don’t run out of luck.

Every “if” bet wagers the total amount of winnings from the bets before, so you don’t collect until you stop.

Likewise, there’s also a reverse bet, which is a type of “if” bet that covers you against two potential outcomes.

If your original “if” bet is the Bengals win then the Bills win, and your reverse is the Bills win and then the Bengals, which raises your odds of at least a payout, although you won’t get back the exact amount of your initial wager. 

Read: Betting Basics: How Do Bookmakers Make Their Money?

12. Full Covers

Full covers are package bets that contain multiple wagering options within a number of betting selections. 

Prominent in the United Kingdom, full covers have unique names based on the number of total bets involved – Trixie (four bets), a Super Yankee (26 bets) and the Goliath (247 bets).

Just like in parlays, the more bets you add, the more the risks and potential payout multiply. However, all your bets must not win before you cash out, if you win only two of the bets, you can get an earning in return.

13. Sport-Specific Bets

There are sports that have their own types of sports betting and these are some of them:

• Grand Salami (baseball and hockey): You choose the over-under for the total lines in all games played on a given day.

• Run line (baseball): This is a point spread that’s always 1.5 runs.

• Puck line (hockey): The puck line is hockey’s equivalent of the run line, with a point line set at 1.5 points.

• Correct score (soccer): For this bet, you’ll have to predict the exact score the game will end with. It’s challenging to predict, but it can give you good payouts.

Different Types Of Sports Betting And Where They Are Used 

Every sport has different types of sports betting or variations that it uses. Here are some of them below:

NFL And College Football Bets 

The most popular types of sports betting you’d see in the NFL and college football (NCAAF) are point spreads, total, and moneyline.

Player props are popular in NFL Predictions due to fantasy football, while player props are less common in the NCAAF because of different state regulations.

NBA And College Basketball Bets 

Common sports bets in the NBA and college basketball (NCAAB) are spread, moneyline and points total bets.

NCAAB spreads are more favoured than NBA spreads in Basketball Predictions because the number of lopsided matches in college makes moneyline bets less attractive.

MLB Bets 

Moneyline bets are the most prominent bet types for baseball because games are closely decided.

Other popular bets you’d find in MLB Predictions include run total, spread (“run line”) and player props.

NHL Bets

The types of bets popular in the NHL are moneyline,  spreads (“puck line”), and totals.

Soccer Bets 

The most popular bets your Soccer Predictions will find are three-way moneyline bets for either side to win or for a tie.

Two-way money lines, spreads, and total goals.

Golf Bets 

For Golf, wagers that are popular are player props, especially on which golfer will win a tournament.

Head-to-head bets, where two golfers pit against each other are common too.

Tennis Bets

In Tennis, moneyline bets, player props on which player to win a set and future bets on who will win a major tournament are common.

MMA/UFC Bets 

In Mixed Martial Arts leagues like the UFC, moneyline bets are the most preferred choice. 

Other types of sports betting in MMA include the total number of rounds, fighting props for a method of victory or if they’ll be a knockout.

Knowing the different types of sports betting and how they are used in each sport is one part,  the other equally important part is mastering which one works for you.

Different bettors do well with different bet types

Bettors who predict player performance better than team performance can gravitate towards sports that favour player props.

Punters interested in team performance can find sports that favour either moneyline or spread bets.

If you can predict the pace of a game, bet on more totals than moneyline and spreads.

Finally, as a bettor, focus on a handful of sports and find value in places where the public or sportsbooks make mistakes and take advice from them.

Related Articles:

Top 10 Football Betting Websites To Follow In 2023

Football Betting: Important Facts And Questions That Must Be Answered

What in your opinion, are the top 10 football betting websites serious bettors should follow in 2023?

While you, like most online bettors have gotten used to betting with your favoured bookmaker over the years, there is still a high chance that the bookie you’re using isn’t the right one for you, and as such it might be time for you to try someone else.

Now, you’ve heard that there are hundreds of websites for betting for football and maybe even counted more than one hundred of them. But we’re guessing you’re still struggling with finding a good Prediction Site; because if you weren’t you wouldn’t be here.

It’s okay, your search is over. In this article, we will highlight some of the best football betting websites on the internet, this year.  These sites are recognised for giving bettors incentives like accurate Football betting tips, device accessibility, and sign bonuses and offers.

Keep reading for a detailed breakdown of the 10 football betting websites to follow in 2023, including information on how to sign up for betting sites and choosing a good Football Prediction site.

See: How Can I Find The Best Football Prediction Website?

Top 10 Football Betting Websites To Follow In 2023

1. MatchPlug

2. 1XBet

3. BetMGM

4. FanDuel

5. Caesars

6. WynnBet

7. Bet365

8. 888sport

9. 22Bet

10. BetWay

Football Betting Websites To Follow In 2023

Football is one of the most popular sports in the world and is offered on all betting websites. While this may be good news for some bettors, it may not always be the blessing it looks like, mainly because having too many options in itself can be a source of stress.

If you are having a hard time choosing a Football Prediction site, then it’s possible that you’re now realizing this too. 

Thankfully, this list of top football betting websites we made will simplify everything for you.

1. MatchPlug

MatchPlug is a reliable and dedicated Prediction Site you can rely on for Free football tips and accurate match predictions and betting previews.

Our website courts variety, by offering coverage on other choice sports besides football like hockey, baseball, basketball, and American football.

MatchPlug has a mobile-friendly website, is easy to navigate, and clutter-free, displays available daily odds at a glance, and gives bettors access to Today’s football matches.

On our website, you’ll gain access to data-driven predictions that can help you make a steady income from betting.

Why We Chose MatchPlug 

By signing up on Matchplug, you can enjoy the several benefits that make us one of the top 10 football betting websites to follow in 2023.

We mentioned some of them below:

• Coverage on all major American Sports leagues – NFL, NBA, NHL, MLB, MLS.

• Predictions across popular football tournaments – English Premier League, Championship, Europa, Spanish La Liga, Italian Serie A, German Bundesliga, and French Ligue 1.

• Uses data mining methods to produce Today’s match prediction.

• Applies predictive analysis, and tools like statistical modelling, machine learning, and data mining to examine current and historical data for building a hot prediction site, bettors can trust. 

• Multiple subscription packages:

• Basic Package

Site Access / Daily Emails of 3 Sure Games.

Access to BASIC package markets.

2 Odds to 3 Odds daily.

Over 80% Accuracy.

• Premium Package

Site Access / Daily Emails of 6 Sure Games.

Access to all BASIC package markets.

5 Odds to 30 Odds daily.

Over 85% Accuracy.

• VIP Package

1.8 Odds to 3 Odds daily.

Highest return on Investment (ROI).

Personal account VIP manager.

Highest level of accuracy (95%) for high stakers.

2. 1XBet

1XBet is another of the football betting websites that provides Football tips betting enthusiasts can rely on. 

Established in 2007, 1XBet rose to popularity a few years ago when it signed deals with Chelsea and Liverpool.

Presently, this bookmaker is famous for facilitating the Serie A Italian football league. 1XBet is also highly renowned above most sportsbooks as being one website that truly offers great football odds for a variety of matches, across leagues.

Furthermore, this site has one of the best mobile apps in the market. It has numerous bonuses too like “Your birthday with 1XBet!” where you get a free bet on your birthday.

Why We Chose 1XBet

• Hundreds of sports markets are available for every kind of sport.

• Features poker room, casino, live casino, and lotteries.

• Multiple payment methods – credit cards, bank transfers, mobile payments, and cryptocurrencies.

• Create accounts in one click.

• Numerous bonuses and added benefits for users like free bets.

• Responsive and customer-friendly support staff who are available 24/7.

• 60+ languages including Russian and Turkish.

3. BetMGM

BetMGM was one of the first Football Prediction sites to take root in the USA, and over the years it has grown to become an authority in the sports betting industry. 

This website has games displayed in the middle of the screen, sports markets to the left and players’ bet slip on the right.

BetMGM’s extensive menu bar perched on top of the screen is perhaps one of its best features. It holds tabs for navigating the site’s Home, A-Z menu, My Bets, and Promotions and also links to all of the popular sports markets available on BetMGM.

Why We Chose BetMGM

Here are some features on BetMGM’s site that might excite you:

• A simple, smooth layout – every function is properly organized and labelled across the site for easy access and navigation.

• Free media streaming – BetMGM provides bettors with free streaming of less popular sports like tennis, table tennis, and snooker. All you need to do is scroll through your preferred event and watch it free of charge.

• Online casino and poker – bettors residing in New Jersey and Pennsylvania, can access online casino gaming. 

The best part is that they can switch easily between all the offerings. 

You can find a tab featuring popular casino games below your betting slip, and tabs linked to BetMGM’s casino and poker sites are placed at the top of the page. 

4. FanDuel

FanDuel is another top sports betting operator in the United States and a sure place to get standard Football betting tips. This bookmaker places high on many other lists on the Internet as a top Football Prediction site and is particularly praised for its coverage of the NFL.

The desktop platform of FanDuel was modelled after its state-of-the-art mobile app, everything from aesthetics to functionality was duly represented. Bettors who like to bet on their mobile phones or desktops will find it equally easy to use this platform.

In terms of navigation, the sporting events for the day are showcased on the homepage, you can use the menu at the top of the page or the left-hand menu to scroll through other trending sports markets, and on the right, you’ll find your betting slip. 

Why We Chose FanDuel 

Besides its simple usability, these are other reasons why FanDuel is among the top football betting websites to follow in 2023:

• Integrated casino, racebook, and daily fantasy sports – FanDuel syncs all of its properties like the online casino, racebook, and Daily Fantasy Sports sites. You can access all these things with a single account.

• Convenient access to My Bets and Promotions – all the bets and promotions you have on FanDuel can be easily accessed using the tab in the middle of the screen. There’s also the Promotions tab you can use to quickly view your promotions.

• Quick responsive technology – you’ll experience shorter load times, zero lag, and have no issues with identifying your location when using FanDuel. Everything works swiftly, just the way you’d prefer it.

5. Caesars

Caesars rose to the top of the football betting industry thanks to advertisements, top-notch rewards and bonuses, and its newly rebranded website.

Bettors will find the desktop version of Caesar’s website easy to use. There is a clever use of space in the design, good responsiveness and it is easy for bettors to find any of the site’s features they’re looking for. 

Why We Chose Caesars 

These are some of the best features of Caesars:

• Simple location change feature – Caesar’s website has a dropdown location menu that allows bettors to choose from a list of states where the bookmaker is active and enter that particular state’s website.

• Visible bet slip – on Caesars, you can find your open bets and settled action in one place. By tapping the right side of the screen, you’ll see pending selections, and upcoming open bets or scroll through wagers you’ve settled in the past.

• Readily available promotions – Caesar’s desktop website shows all the active promos on the menu you can scroll through in the middle of the site’s main page. This way you can view offers or details about open promotions at a glance.

Read also: Why You Need A Football Betting Site

6.WynnBet

WynnBet has a desktop site that features a calm design that contains all the necessary functions you’ll need for wagering on sports. 

The website is divided into two sections – Popular and Soon. Popular is for the WynnBet homepage that displays all the live games and upcoming action for the day. Soon shows anticipated games or events happening on another day.

On the left side, WynnBet lists out its available sports markets including links to the online casino, live betting options and promotions page. On the right, you’ll find your Betslip tab. 

Why We Chose WynnBet

This is why WynnBet checked our list of top football betting websites:

• Boosted Parlays – Boosted Parlays are regularly advertised on WynnBet’s homepage. Players can add this bet to their bet slips and receive high odds.

• Shared Wallet – Bettors can switch back and forth between this brand’s sportsbook and the iCasino at will by simply clicking a button. In addition, the shared Wallet allows you to place wagers on any of these platforms with the same balance.

• Bet ‘To Win’ – one of WynnBet’s best offerings is bettors being able to enter how much they’d like to win on a wager before locking it. This is opposed to you putting in the amount you’ll be staking. 

You won’t find the ‘To Win’ feature on many bookmakers.

7. Bet365

Experienced bettors recognize Bet365 for its benevolent nature of providing a variety of sporting events in different sports, including in football. Bettors who are interested in both prominent and lesser-known leagues can always count on this bookmaker for Free football tips.

Bet365 also gives a good sign-up bonus which you’ll receive once you get a code and make your first deposit which is a minimum of $20 and a maximum of $200; you’d get the same amount back.

Why We Chose Bet365

• An extensive betting market.

• Early payout.

• In-play betting.

• No extra deposit or withdrawal fees.

• Welcome bonus.

• A customer support team that is available 24/7.

• Responsive and navigable website.

8. 888sport

888sport might be one of the most underrated bookmakers, but this hasn’t stopped them from consistently improving, by adding different football markets to their platform as they grow. 

This bookmaker has one of the best available markets for ‘new manager odds’ of some teams, which bettors have taken a liking to.

There are football pages, specials and offers that you can utilise on 888sport, making it a great football betting site for new and existing customers. 

Why We Chose 888sport

888sport might not be as popular as other names on this list, but this is why you should still give it a try:

• Multiple payment methods that support card, epay, or bank transfer.

• 4-8 payout days.

• Fantastic sportsbook interface.

• Huge bonuses and frequent promotions.

• Great betting lines.

9. 22Bet

22Bet is beloved by Nigerian bettors, particularly because it is fully licensed in Nigeria and easily accessible to them. However, bettors from other parts of the world can also download and use the 22Bet app with an iOS or Android device.

This app works well and enhances your overall betting experience.

Why We Chose 22Bet

Nigerian bettors and sports enthusiasts from other parts of the world can enjoy in-play markets and eSports betting on 22Bets. 

These are other reasons why this bookmaker is worth your time:

• Fast payout.

• Live chat with customer service (24/7).

• Competitive betting odds.

• Vast selection of sports and markets.

• 0-7 days payout.

10. BetWay 

BetWay is known to be a great place for bettors who love live soccer betting. But, this isn’t the only advantage you’ll enjoy with this bookmaker as it also provides some great statistics before every match begins. 

In design too, BetWay stands out as its website is built in a way that you can find events easily. Bonuses and promotions depend on which country you reside in but are quite sizable.

Why We Chose BetWay

BetWay is another great choice for very good reasons, which we’ve listed:

• Swift payouts.

• Lots of bonuses and promotions are offered.

• Soft odds with the available betting markets.

• Live stream.

How To Identify The Top 10 Football Betting Websites To Follow In 2023

When identifying any of these top 10 football betting websites to follow in 2023, these are the features to look out for, to know that you’re in the right place.

1. Licensing

Any Football Prediction site that doesn’t have a license is an instant red flag you should avoid. In addition to a betting license, you must look for results, track record, and merit.

2. Deposit And Withdrawal Methods 

A football betting website’s deposit and withdrawal method are perhaps one of its most important features. It must be easy for you to pay in funds for your bets and at the same time cash out your earnings quickly.

Whatever bookmaker you choose, should feature Visa, MasterCard, PayPal, Crypto, and bank transfers.

3. Competitive Odds

In addition to promptly displaying their odds, a good Prediction Site should also offer competition that surpasses what you’d be getting elsewhere. 

And when you do find those odds, utilize them massively to increase your earnings.

4. Wide Sports Coverage 

Although football is your reason for seeking out these bookmakers, it makes more sense if you use one that has vast coverage of other popular sports too.

Find other sports leagues, tournaments, and events you could wager on.

5. Live Bets 

Most bookmakers today offer live bets as a way to stay competitive and relevant. 

Live bets are good because you can place your wagers only after the match has started and you’ve seen how things are playing out.

6. Dedicated Customer Service 

Good football betting websites have experts and coaches that guide you on the workings of a game, and customer service agents too who answer your enquiries.

Look out for a site whose customer support responds in real time using live chat, email, or calls.

7. Mobile Accessibility 

The bookmakers we have mentioned in this article have websites that are highly compatible with your mobile phone so that you can enjoy betting on a device that works for you. 

Similarly, if you’re downloading their mobile betting apps, ensure that it works well with your Android or iOS phone.

Seamless and uninterrupted betting on games is dependent on the host site’s mobile-friendly capability.

Every football betting website here made our list because they met industry standards – quick payout, easy navigation, variety of sports, security, no clutter, device accessibility, orderly display of information and numerous betting bonuses.

Related Articles:

Football Betting: Important Facts And Questions That Must Be Answered

Betting Basics: How Do Bookmakers Make Their Money?

How much can you make following a tipster? (really)

At one point, every sports bettor would have pondered the question: “should I get a tipster’s opinion first, before betting my money?”

This is the part where you seek out a tipster, which is a person who earns a living by recommending bets to punters. Just like in every other industry, there are different types of tipsters you’ll come across.

Some tipsters are excellent, others give awful advice, and then there are the scammers. But, knowing how to utilize the advice of a good tipster to your advantage, can go a long way in helping you make money in sports betting.

Understanding how much you can get out of a sports betting tipster is important, no matter if you’re signing up on your mobile phone or visiting a land-based sportsbook in person.

In this article, we discuss how to identify good sports tipsters, how to earn money using tips, the benefits of following a tipster and how to maximize tips to earn profits in the long run.

Similar Article: Can You Make Money Backing The Favorites

Article Content:

1. 3 ways to identify a good sports tipster 
2. Benefits of following a  tipster
3. Make money following a tipster 
4. How to utilize sports betting tips 

3 Ways To Identify A Good Sports Tipster

There are lots of bettors who search for tips because they want to increase their odds of winning.

But, your main goal should be to come out on top every time and value betting as well – this means you should bet in a way where the probability of you winning is greater than the odds reflected by the bookmaker. Doing this is your best chance of gathering long-term profits.

Same way, there are many bettors who just want to pick the winner. And oftentimes, the demand for betting tips outweighs that of value bets. This proves that seeking advice from a knowledgeable third party can place you ahead of other bettors.

Thankfully, finding a good sports tipster isn’t a difficult task. These are 3 ways you can identify one, below:

1. A Good Tipster Charges Money

It is better for you to pay for the services of a good tipster and be sure you’re getting the best because free tipsters can be audited and might not be legit.

2. Avoid Acclaimed “Insider Information”

Any tipster claiming to have “insider information” or advertising any other services in this manner, is most likely a scammer and you should not get involved with them.

3. Read Bettors Reviews

The best way to learn, especially in sports betting is from the experience of other bettors. 

So, when you find a trader, ensure that you go through the reviews left of their pages and pay attention to the ones that raise concerns.

You should also feel out about their services. If the tipster has a good track record and is recommended to be honest in their dealings, then use them over the ones who promise you quick profits.

Benefits Of Following A Tipster

While it is always advisable to use a Prediction Site to place your bets, there are still some really good benefits that can come out of following a tipster:

1. Higher Earnings 

When you work with a talented and professional tipster, you increase your chances of earning more money.

To measure how much you can make following working with a tipster, calculate the return on investment in the time you started working with them.

You can also delve into the tipsters’ records to see if they’ve produced results before, this should give you some confidence that they can work the same wonders for you.

2. Getting Valuable Insights

Sports tipsters who know their onus are experts in their respective industries and should be regarded as valuable sources of insights and information on a particular sport.

For example, if what you need is Football betting tips, the tipster you use should be a renowned expert in this sport.

By combining their vast knowledge with unmatched mathematical skills, these experts can give you vital insights.

Additionally, since sports betting is a social event often done amongst friends, having a tipster in your corner can give you a much-needed headstart.

Don’t forget, anybody advertising “insider info” is most likely trying to fill their pockets rather than genuinely help you make money.

3. Managing Your Opinions

There are a million thoughts that come into your head when placing a bet, and most of them translate to opinions that require immediate action.

If you have a gut feeling and don’t want to run it by your friends for fear of them acting on it, using a sports tipster is what you should do.

A tipster takes some stress off your hands by either confirming or condemning your selections. No matter what they do for you, you’ll come to bet with a much clearer mind.

See: How Do I Make Money From Football Betting?

Making Money By Following A Tipster 

Earning profits in sports betting is more about getting the odds to favour you and constantly being on the right side of statistical probability than it is about knowing how a sport works.

Working with an experienced tipster can get you there faster, but you too can get the odds in your favour by yourself if you can just identify small prices that represent value.

Value is where the price is more than the true probability; a defect in the market or the bookmaker has made a mistake.

To make money while following a tipster, you would also have to put in some effort on your part to amplify the tipster’s abilities.

Here is a quick rundown of what you should do, so that you can process this information faster:

1. Find Value Bets

To find value bets by yourself, you’ll need expertise in understanding odds, modelling prices, and reading betting markets.

But, if like most bettors you don’t possess the time, skills, or expertise to always perform the analysis for identifying value, you can opt for a tipster’s advice.

2. Don’t Enable Tipsters Fantasies

There are tipsters who try to get bettors to believe in a made-up fantasy story, where winning is a simple process that can be achieved by merely following their bets. 

They sell you these stories in the interest of their own pockets because if you keep paying for consultations, they can keep earning off of your mistakes.

The truth is, earning money from sports betting is a harsh reality where you lose a lot, compared to the notion sold to you by tipsters that it is easy.

Call out a tipster’s bluff by asking the oblivious ones why they are selling out their tips for money, instead of backing it themselves and making a living as professional bettors.

3. Avoid Guess Work

To acquire long-term profits as a bettor, you must find value bets. And to do this, there needs to be an edge; a reason why the odds you’re backing are greater than the true chance.

Many tipsters can’t find the edge, they just take wild guesses and if they happen to be right a few times, they toot their own horn about how great their tips are.

Guaranteed, a few well-timed educated guesses will make you money in the short term. But when put together over a long period, you won’t have any real profits to show.

That is because ‘expert’ guesses can’t touch the edge which is found in numbers, rather than the tipster’s knowledge about the sport.

4. Embrace The Workings Of Professional Betting 

While following a tipster, you must also be ready to fully accept the random nature and mathematical probability of professional betting.

This means you must acknowledge that anything can happen. 

But, it is now up to you to make profits from this uncertainty by working out an accurate estimate of the likelihood of a particular occurrence happening. Then bet on it only if there is a price that shows an implied probability less than the estimate.

Another tool to have is a good knowledge of a sport, it’s even better if it’s a sport not many people can figure out. Create models, and read patterns within the markets of different bookmaker prices.

No matter the method you use, ensure that your estimates about a probability are infinitely correct enough to give you an edge in the market so that you find value bets easily.

5. Spot Fake Profits

Most tipsters use a number of tricks to provide an illusion that makes their loss-causing guesses look profitable. 

They use the Survivor Bias scam to only show snapshots of favorable real results – for instance basing ‘profit’ figures on an arbitrarily small sample of results that started after a big win.

Or a service where tipsters only display results of other tipsters who recently made a successful prediction, while hiding from the public eye the other ones who made huge losses.

There are still a small number of tipsters who can actually do the analysis for gaining a long-term edge so that they can keep finding value. Such experts generate ‘paper profit.’ 

That means if you do your own analysis of the profit/loss using their tips based on the prices displayed by bookmakers it’ll show a surplus. These so-called ‘profits’ are an illusion and only work if you can get the bets on at the value price.

Read also: Betting Basics: How Do Bookmakers Make Their Money?

How To Utilize Sports Betting Tips From Following A Tipster

We have to tell you, following a tipster although it is sometimes encouraged is sometimes a slippery road which you should tread carefully. If you must use one, be intentional about every move you make based on their advice.

That being said, here is how to make the most out of a tipster’s tips:

1. Use more than one tipster and keep detailed notes of every piece of advice they give you.

If you have the bankroll for it, keeping a handful of sports tipsters in your corner can help you. 

Take note of how each of them performs. Eventually, their success rates and your long-term return on investment will determine who you should keep and who to let go.

2. Have a separate bankroll for every one of your tipsters.

A bankroll is always a good way to track your ROI on bets and can do the same for your tipsters. 

No matter what, stick to your original strategy for bankrolled management and don’t try to exceed it.

3. Ensure that you choose the best available odds in the market.

Take your time to find the best odds surrounding a matchup with the assistance of an odds comparison website. Selecting the best odds can make or mar a bettor in the long run and also affects the size of your profits.

Note that, odds often have a tendency to shorten the second a tipster sends out a tip because bookmakers on the backend end of a sports betting website are probably keeping records of which bettors are following a specific tipster. 

However, inefficiencies in the system allow you a window to place your bets at the odds recommended by the tipster you follow. Stay informed with any information provided on oddsmakers’ ranking.

4. Be proactive with your betting.

Stay punctual and regular regarding placing the prescribed bets. Once a tip gets sent out, place your bets immediately.

5. If you must trust your tipsters, do so wholeheartedly.

Sports betting in itself is a game of high risks and returns. If you find a tipster you trust, then follow their advice.

This is important especially when you are experiencing a losing streak. Having a plan,  someone in your ears who guides your hand towards winning bets, and following through on their advice is how to make a profit or ultimately disregard that tipster in the future.

6. Set realistic goals and expectations.

You may have experienced what it feels like to win big on a bet, but know that recreating this is not going to happen on a straight road.

If you must grow, it will most likely be moderate. So, manage your expectations when following a tipster.

7. Don’t immediately increase your bankroll significantly after a successful season of sports betting.

Being lavish with their bankroll is one common trap bettors fall into, especially after they’ve made massive profits.

After a winning season, increase your bank conservatively. Remember, the point is to take in more money than you give out to sportsbooks.

Sports betting is entertaining, intriguing, and exciting, and following a tipster, the right way, which is with your head can enhance your chances of succeeding in this industry.

Can You Make Money Following A Tipster? 

Yes, you can. But this is based on two things – if the tipster is proven to be good at identifying value and if his tips come on an exclusive basis.

No other quality is acceptable if those two things aren’t present.

You must get yourself a tipster whose methods are genuine and who can constantly dig out value. Also, their tips must be exclusive so that you can back at the prices they’re advising and leave your betting channel open.

Finally, ask the tipster these three questions before paying them a dime for their tips:

1. If your tips are that good, why won’t you just back them?

2. What edge do you use? How do you identify value bets?

3. How do I bet decent stakes using your tips, so that my profits can be more meaningful?

Related Articles:

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Betting Basics: Optimizing Your Betting Selections

Key Differences Between Betting For Fun And Betting For Profit

Does anyone know how bookmakers make their money?

One good thing about sports betting is that you can make profits consistently by understanding the system and applying the right strategies.

But, winning in sports betting needs more than understanding how it works. No matter how good you are, you’ll lose money.

There are a lot of reasons why this happens, and one of them is bookmakers using some hidden techniques to give themselves an advantage in every prediction.

Being successful in sports betting? Cashing out every other week? Is dependent on your understanding and then destabilising this advantage, and how bookmakers make their money.

Read also: Can You Make Money Backing The Favorites

Article Content:

1. Who is a bookmaker?
2. Types of bookmakers
3. Bookmakers and how they set odds
4. How do bookmakers make their money?
5. The basic principle of bookmaking 
6. Charging the vigorish / overround: How it works
7. Odd compilers and what they do
8. Bookmakers margins: how they work 
9. how bookmakers create a balanced book
10. Key Takeaways: How to make money from bookmakers 

Who Is A Bookmaker?

A bookmaker or bookie is a sports personnel who oversees gambling, especially on sports events. A bookie sets the odds you find on a Prediction Site, accepts and places your bets, and pays winnings on behalf of oddsmakers.

Types Of Bookmakers

There are three types of bookmakers to select from when betting online.

1. Fixed Odds

Fixed odds bookmakers issue odds in fractions to create betting markets. Odds are offered in three outcomes of a match – Home, Win, Draw, and Away Win.

The odds have an inbuilt profit margin or house edge. Bookies take bets on every option that reflects a probability and creates a profit.

2. Spread 

Here, bettors wager on the outcome to be lower or higher than the spread. Spreads are represented in two numbers, traders buy at a high number and sell at a lower number.

Spread-betting bookmakers earn money from the difference in stakes and payouts. Markets change depending on buy and sell stakes.

3. Exchange 

Betting exchanges are represented in decimal odds and support peer-to-peer betting. It puts together bettors who want to back an outcome and layers who bet against it.

Exchange bets are matched at equally beneficial prices, partially or not matched at all. These bookmakers issue a back and lay price for outcomes in sports. Back prices are lower than the lay price.

An exchange bookmaker makes money from commissions on winning bets. This ensures that they make profits regardless of the outcome.

Bookmakers and How They Set Odds

One way bookmakers win is by calculating the odds of them winning an event. They do this using statisticians and developing complex models. “Moneylines” and “spreads” are important factors for them. Other times, their calculations are based on the ones developed by casino actuaries or risk calculators.

Basically, they underscore which teams the bookmaker believes will win a match. Lines and spreads can be adjusted in the time leading up to an event based on the bets made in their books or fluctuations in casino bets. Bad weather, injuries to players, and doping scandals influence odds too.

A bookie aims to maintain balance in the books by adjusting the odds as much as they can so that an even number of bettors back a win or loss. If the books are balanced, the bookmaker earns only the vig. But, if a bet is one-sided on a team or outcome, they have a higher chance of losing money.

How Do Bookmakers Make Their Money?

Bookmakers make their money by charging a fee (“vigorish” or “vig”) on every bet they take, and pay out earnings when customers win a bet. Their goal is to earn more cash than they pay bettors.

They do so by adjusting the odds to even the amount of people betting on a win or loss.

A vig is up to 10%, although high-profile bets like a tight line on the Super Bowl can be higher than this. 

Here is an outline of other ways bookmakers make money:

1. Bookies set the right bet prices.

2. They set and change betting lines.

3. Balancing the book and curbing risks.

4. Counting on bettors’ emotions and lack of knowledge.

See: Betting Basics: Optimizing Your Betting Selections

Basic Principle Of Bookmaking 

The basic principle of bookmaking is, a bookie accepts money when they lay a bet for a customer, and pays out money any time the customer wins a wager.

Professional bookmaking ensures that they take in more money than they pay out.

Bookmakers can’t control an event’s outcome out, but they can control how much they’ll lose or win in any results. Bookies set the odds for all the bets they lay, which always guarantees them a profit.

Charging The Vigorish / Overround: How It Works

Vigorish (juice, margin, or overround) is the main method bookies use to set odds in their favour. They build it into odds to help them make a profit.

But, how does a vig work? We’ve explained everything using this coin toss example:

A coin toss has two outcomes – “Heads or Tails” and both are equally likely. There is a 50% chance of heads and a 50% chance of tails.

If a bookmaker offered true odds on the toss of a coin, they would offer more money than they already do. This would be:

• 2.00 in decimal odds
• +100 in moneyline odds 
• 1/1 in fractional odds.

A $10 bet at even money returns $20, which is $10 profit plus the initial stake back. If the bookmaker had 100 customers betting $10 on the toss of a coin, half bets on tails and the other half on heads, they won’t make any money in this scenario.

In the image above, if the bookmakers are accepting a total of $1,000 in bets, they must also pay out a total of $1,000 in winnings no matter the result. But, since they are in business to make money, this scenario does not favour them.

That is exactly why bookies include vig into odds. So that they make money no matter the result of an event or match. When two outcomes have the same chances of happening, they’ll use odds of 1.9091 (-110 in moneyline, 10/11 in fractional).

In the coin toss example, there will be the same odds on heads and tails, but now at 1.9091. meaning that a wager of $10 will return a total of $19.09 ($9.09 in profit plus the $10 original stake).

Below is how it’ll look for the bookmaker, with 50 bettors backing tails and another 50 backing heads.

From the above image, the changing odds make a significant difference, and the bookmaker gets a sure profit for every coin toss. The amount they pay out is fixed at $954.50 against the $1,000 they got in total wagers.

The standard profit margin which is the overround in this scenario is $45.50 and it’s expressed as a percentage of the total – 4.5%.

In betting markets with more than two possible outcomes, bookies won’t always accept the same amount on every outcome. This is why bookies don’t just make money by charging a vig. There use other methods like odd compilers.

Odd Compilers And What They Do

Odd compilers or traders set odds at bookmaking firms. The odds they set determine the amount in wagers, a bookmaker can take in and how much they make.

Setting the odds for a sports event is pricing the market. A few aspects are involved in this process. And the aim is to ensure that the odds correctly reflect the likelihood of any outcome while guaranteeing too that there’s an inbuilt profit margin.

Outcomes are determined by statistics,  some sports knowledge, and a strong understanding of certain mathematical and statistical principles too.

When a compiler wants to price up a market for a match between two opponents who are equally strong. They consider factors like each side’s ability on the playing surface, past meetings, and current form.

Using those things, they conclude that one side has a 60% chance of winning the game, and the other a 40% chance. Approximately, the odds will reflect these chances as side A at 1.67 and B at 2.50. These odds are void of a vig which the compiler also considers.

Compilers have a target margin, which varies for many reasons. But in this case, if the margin is 5%, they’d reduce the odds for each side by 5%, giving side A 1.59 and B 2.38.

A bookmaker’s margin is calculated by adding the reciprocal of the odds for every outcome and converting it into a percentage. Here, there are two outcomes and the equation below is used.

The odds compiler achieved a target of a 5% margin. However, they must make sure bookmakers have a balanced book.

Bookmakers’ Margins: How They Work

In bookmaking, anything over 100% is the bookmaker’s profit. This is known as an overround, which is just another way to describe a bookie’s profit margin.

There are two ways bookmakers’ margins are represented, we’ve discussed them in this section.

1. Win/Draw/Win

A 1X2 market on a football game like the one below is a good way to expand on how bookies apply an overround.

In the example, when odds are quoted as a fraction they can be converted easily into decimal odds to know the implied probabilities. We explained further below:

• 1(Home Win) – 27/20 (fractional odds) = (decimal odds) 2.35 = (implied probability) 42.55%

• X (Draw) – 23/10 = 3.30 = 30.30%

• 2 (Away Win) – 23/10 = 3.40 = 29.41%

The implied probability of the three outcomes when added (42.55 + 30.3 + 29.41) = 102.26%. this is an overround of 2.26% which guarantees the bookie’s profit no matter the match’s outcome.

This 2.26% looks small now, but when collected from the millions staked on thousands of events daily, this will mount up to a large profit for bookies.

2. Compounding 

If bookies aren’t content with a 2.26% profit margin, they use other methods like accumulators, doubles, and trebles to get money from you.

When you calculate this overround on every selection, you can determine if there is a ‘value’ bet based on your market estimations.

When you select from the 1X2 market with the 2.26% overround. And include a second selection to make a double, what happens is that the bookie will have another 2.26% profit margin, giving them a total overround of 2.26 + 2.26 = 5.52%; compounding their first profit margin.

A 3rd selection totals to 2.26 + 2.26 + 2.6 = 7.78%.

The profits keep compounding when you add selections to an accumulator. The odds of your bets landing moves further, and the bookie’s profit margins get higher.

Side note: this is why experts advise that you stay away from accumulator bets.

Check: 5 Common Mistakes Bettors Make

Why You Should Calculate Bookmakers’ Margins:

• Most bookmakers don’t openly show the market overround as an exchange would.

• If you can calculate margins, then you can identify and understand variations across bookmakers and how it significantly impacts your potential return.

• Betting value relates to the whole market, which means you should consider the odds for every outcome. The bigger the profit margin, the lower the overall value for you.

How Bookmakers Create A Balanced Book

If a bookie has a balanced book on the market, they’ll make the same amount of money no matter the outcome. For an imbalanced book, the outcome affects how much they make and may result in a loss. So, they prefer their books balanced, which is why they need odds compilers.

For the match between two strong opponents we discussed in an earlier example, the balanced book looks like this:

As indicated, based on $10,000 in total bets, the bookie will make $500 no matter the match’s outcome. This is for a 5% margin, but what happens if $10,000 is evenly spread on both sides?

In the above example, the bookie’s book is imbalanced. He will profit if Side A wins, but lose if Side B wins. They try to avoid this, which is why the odds on sports fluctuate over time.

Odds compilers continually adjust odds to balance their books. They can increase the odds on Side A to encourage more bettors to back their winnings or reduce the odds on Side B to discourage you from betting on them to win. They can do both too.

Adjusting the odds might not create a balanced book, but it helps. This is why the volume of bets is important to bookmakers. More money means they can get the balance right. If they can’t do this, they’ll try to get it as close to perfect as possible.

Sometimes odds compilers want an imbalanced book. If they are sure of an outcome, they’ll create a way for them to make a profit if it happens. They can do this by pushing the odds out on Side A to get more action on that side of the book.

Key Takeaways: How To Make Money From Bookmakers

As we have hopefully proven to you in this article, your bookmaker does not complain of a losing streak because they used a failsafe plan in form of vig and profit margin, to ensure that they don’t.

Now that you have known what they know and understood what really goes on, here are a few ways you can make your money back from the bookmakers, and place smarter bets too. (It’s possible, we promise)

1. Use A Good Bookmaker

Bookies want to keep you happy and patronising them,  so they offer you benefits like the best odds available in the market, promotions, great customer service, and a variety of sports.

2. Test The Quality Of Markets With Overround 

The overround is a foolproof way of knowing the true quality of betting markets generally. Add up the possibilities, convert them to percentages and see the final result.

The close a profit margin is to 100%, the better for you. Good margins give you an in to break down what your best betting options are based on the available odds.

3. Use Promotions 

Bookmakers are already taking too much from you, the least you could do is exploit their need to please bettors and retain their patronages by offering them numerous promotions.

This means you should use bonuses as much as you can, instead of being wary of them. Just be sure that you’re getting the best of any promotion you’re offered. 

4. Use A Prediction Site With Sound Technology 

A technologically sound Football Prediction site is great for when you want to get in on live betting for intriguing matches with twists.

A site like this updates fast, facilitates quick reaction, and effective betting for live matches.

5. Use Different Betting Markets

As a smart bettor, find where you disagree with the bookmaker’s prediction. It is your wits against their ego, but don’t get carried away.

Using different betting markets gives you more chances to identify and utilise good value odds and where you think your wager will be best placed.

Related Articles:

Top Football Betting Myths Dispelled!

What is the difference between betting for fun and betting for profit?

Many people all over the world, view sports betting as a favourite pastime, and as such, they tend to favour some games like football or horse racing over others.

And since betting is a source of entertainment for sports enthusiasts, they engage in it regularly and at some point, they start developing a reason for why they keep gambling.

You see, betting for football, horse racing, or any other sport gives bettors two benefits which they can decide how they want to enjoy. It can either offer you fun or profit. Whatever your reason is, betting is a serious game that still requires focus.

But, back to our question, what are some key differences between betting for fun and betting for profit? We have given the answer in this article, as well as discussed how to navigate both choices.

See: Football Betting: Important Facts And Questions That Must Be Answered

Article Guide:

1. Betting for fun
2. Betting for profit
3. Betting for fun vs betting for profit 
4. Importance of betting for fun
5. Importance of betting for profit 
6. Tips and strategies for Betting for fun
7. Tips and strategies in Betting for profit
8. Advantages and disadvantages of betting for fun
9. Advantages and disadvantages of betting for profits 
10. How to bet for fun and profit 

Betting For Fun

Betting for fun is wagering money on a particular sporting event merely for entertainment. You don’t care whether you lose money or not, as long as you’re entertained by a match, you’re good.

Watching sports without betting on them is exciting. But watching football or basketball when there’s no obsession for payouts involved, intensifies the fun you’ll have because you’re doing it with a clear mind.

Here, you’re less likely to be affected by the outcome, compared to when you’re betting for profit.

Betting For Profit

Betting for profit is the riskier side of sports gambling, especially because anything can happen. You must fortify yourself with an edge over other bettors. 

If you consistently bet for profit, you will never really enjoy a match, and neither will you feel the same excitement the other type of bettor does. This is because you’re fixated on making money, more than you are feeding your passion for sports.

Making profits from a bet takes a lot of research and preparation, which sucks out all the fun for you. You’ll only ever be happy when you win a wager.

Losing a bet also breeds negative emotions like stress, depression, and addiction if it’s not managed well. This is when you start chasing losses or accumulators’ bets because you want to compensate for the money you lost to feel good. 

However, you can still make betting for profit enjoyable, by mastering self-control, applying the right sports betting strategies, and not overplaying your hand.

Betting For Fun Vs Betting For Profit

Some bettors gamble for the fun of it, while others gamble for a chance to win money.

In the table below, we have examined some differences between betting for fun and betting for profit, to give you an idea of what both gambling choices entail.

Fun	Profit
Don’t care if you win or lose money.	Gamble for a chance to win money.
Enjoy the thrill of gambling.	Risks losing money.
Bet for the experience alone.	Should have a bankroll.
See gambling as a medium of entertainment.	Avoid emotional attachment to bets.
Uses betting to socialize with friends.	Understands odds and how to use them.
Bet to pass time the time.	Learns to pick winners more than losers to increase profits.

Important Points For Betting For Fun

If you bet on sports to simply relax and be entertained, it is important that you know the practices that’ll make this experience worth it, since you’ll be predicting outcomes.

1. Focus on a sport that intrigues you the most. That is how you have fun.

2. Budget only an amount you can lose. And after you’ve lost, stop betting.

3. Gambling stops being fun for you when you lose more money than you can afford.

4. Don’t place huge stakes on single wagers. They should get a very small fraction of your entire daily budget.

5. Reduce the number of bets you throw to win.

6. Only back meaningful wagers, don’t jump on everything in the market.

7. Getting involved in different types of wagers doubles the excitement, has more meaning, and places you closer to a win.

8. In-game betting is more exciting, and so do it.

9. Don’t obsess over the results.

10. Understand the basic strategies of betting, they guarantee more fun when you use them and they work for you.

Importance Tips For Betting For Profit

So, you’re betting for profits? The tips you need to succeed in this area, are more straightforward and to the point.

1. Be smart and know how to properly analyse the different factors that influence certain results.

2. Know that hard work is essential if you want to win consistently.

3. Exercise patience. This helps you to not be discouraged when your expectations aren’t met.

4. Have a good knowledge of basic mathematics if you want to keep money from sportsbooks.

5. Master control of your emotions so that your feelings are in check and you bet with a clear eye.

6. Gather information on how to succeed by getting details on wagers, options, markets, and sporting events.

7. Luck is good, but having a strategy is more important. This will help you assess what brings you successful wagers and why you fail.

Tips And Strategies In Betting For Fun

There are different ways you can be for fun. Do you want to just enjoy the game or get involved and place bets? 

No matter what you want, these strategies can help you:

1. First, find a good bookmaker where you’ll be placing your bets. You get extra points if you use a Prediction Site that gives you good lines and odds.

2. After you’ve found a good bookie, the next thing you need to do is to open an account and deposit some funds. You can do this with a credit card, PayPal or other payment methods.

3. When you’ve deposited money into your account, start placing bets. Bets can be placed in a number of ways, the two most common ones are point spread and money lines.

4. A point spread is the number of points a favourite is expected to win by. For example, if the Cincinnati Bengals are playing the Buffalo Bills, and the point spread is 8 points, then the Bengals are expected to win by 8 points. If they win by more than 8 points, you also win your bet.

5. Moneylines are the amount of money you need to bet to win a certain payout amount. If you did bet on the Bengals to win the Bills, and the money line was -200, you’d need $200 to win $100. If the Bengals lost the match, you’ll lose only the amount you wagered.

Tips And Strategies In Betting For Profit

There are several tips and strategies that help you maximise your chances of winning in sports betting. We have laid out some of them below:

1. Find a reputable bookmaker. In a sea of bookies parading as being the best,  do thorough research to find out the ones with a good reputation.

2. Next, learn about the different types of available bets. This increases your winning chances.

3. Manage your bankroll prudently, this is way you don’t lose all your money to unavoidable losses. Bet only with an amount you can lose and set spending limits for yourself.

4. Always remember to have fun when you’re gambling and find ways to amuse yourself, if you are just doing it for money. If you don’t enjoy doing it, then it’s not worth it.

Advantages And Disadvantages Of Betting For Fun

Betting for fun is the least risky path of the two betting options, but comes with its set of disadvantages, as much as it has advantages too.

We have examined the advantages and disadvantages of betting for fun.

Advantages Of Betting For Fun 

There are many advantages of betting for fun:

1. First, it’s a good way to relax and well, have fun.

2. It’s a fantastic way to earn extra cash.

3. It provides a medium for you to meet and network with like-minded people who share your passion for sports.

4. Betting for fun helps your mind stay sharp and improves your betting skills.

5. Fun gambling can be a training tool to prepare you for wagering real cash on sporting events.

6. You can develop and practice new strategies that come in handy when betting on sports.

Disadvantages Of Betting For Fun 

There are disadvantages you’ll be predisposed to when betting for fun:

1. One core disadvantage is that it leads to addiction. This can cause you to spend more time gambling and less time doing important things.

2. Betting comes with financial and health problems.

3. Gambling for fun can be extremely expensive. The more you gamble, the more money you spend feeding this addiction. And eventually, you’ll be in debt which might be difficult to repay.

Advantages And Disadvantages Of Betting For Profit

Betting for profits will have you playing a long game and when you’re in it, you cannot afford to make mistakes.

However, it also comes with its own set of advantages and disadvantages.

Advantages Of Betting For Profits 

Betting if done correctly can be a lucrative venture. You could actually make a living from it.

1. It offers you a side income or even a full-time way of making money.

2. You get the chance to make new friends who also love to bet on sports.

3. Betting can give you the opportunity to learn about different sports and teams. And use this knowledge to win wagers.

4. Bettors can set up businesses as affiliates to bookmakers and get paid every time someone uses their tips.  You could give this venture a try if you’re experienced in betting for money.

Disadvantages Of Betting For Profit

There is a trail of disadvantages that follow betting for profit. These are some you should take note of:

1. For starters, making consistent profits from sports betting can be difficult. You’ll probably lose money over the long term.

2. Secondly, there are a lot of risks you might need to take to make profits. This can lead to some big losses if you don’t tread carefully.

How To Bet For Fun And Profit 

How do you pull off betting for fun or betting for profit? We have left some tips below that you can practice:

1. Expect Anything 

Expect anything even if it’s the worst and accept any outcome you get. This gives you a positive outlook for the future best and whether you win or lose, you’ll still enjoy the match.

2. Practice Your Bets 

Practising your bets before you place them on a sport, increases your chances of winning in sports betting.

The more you bet, the better you become at learning from the outcome of each game. This creates a pattern that helps you choose the best horse to bet on.

3. Study Matches

Studying various matches instead of just blindly betting on them, helps you know about all the teams or players competing in an event.

You’ll learn about their background and history like losses, wins, and playing patterns. This information helps you increase your chances of winning.

4. Set Financial Limits 

When you’re betting for profit, you’ll automatically bet more money than regular bettors. But, this is a big mistake and you should work towards being more in control of your finances.

When you’re creating your bankroll, set a limit or budget on the races you wish to enter. This is necessary if you want to responsibly manage your betting and bankroll.

5. Be A Responsible Bettor

Now that you’ve understood the key differences between betting for fun and betting for profit, you must now decide the kind of bettor you want to be.

To become a bettor who bets for profit, while still having fun, you must practice self-control and use the tips we shared with you in this article to increase your earning chances and have a great betting experience too.

How good is your knowledge of football betting facts and questions?

When it comes to football betting, anyone who considers themselves a sports betting enthusiast must equip themselves with information surrounding certain facts and questions in this industry. 

We say this because knowing these things don’t just help you make smoother bets, but it also gives you a better understanding of betting for football.

On that note, we have written down answers to some frequently asked football questions you might have. These answers cover enquiries regarding betting odds, using football betting sites, types of bets, etc.  

By the time you are done reading this article, we hope you’d have improved your football betting knowledge. Now, without further ado, let’s see what these facts and questions are. 

Related: Betting Basics: Optimizing Your Betting Selections

Important Football Betting Facts And Questions That Must Be Answered

1. What should I know before betting on football?
2. What is the most profitable football betting strategy?
3. What is the secret behind football betting?
4. What are some sure tips for football betting?
5. What are the odds?
6. Do football odds vary by bookmakers
7. What are the different types of football odds?
8. What does vigorish mean?
9. Who sets the odds and lines in football?
10. Why do odds and lines change?
11. Why do different football betting sites have different odds and lines?
12. Do own goals count for both teams to score?
13. How does the first goal scorer work in football?
14. What does draw no bet mean?
15. What is double-chance betting in football?
16. If two or more players tie for the golden booth, who wins it?
17. How many red cards are issued before a football match is abandoned?
18. How do booking points work in football betting?
19. What is regular time in football betting?
20. Should you bet on the draw in football?
21. What is an assist in football?
22. How does corner betting work in football?
23. What do match odds mean in football betting?
24. How do bet builders work?
25. What is score cast betting in football?

See also: Top Football Betting Myths Dispelled!

25 Football Betting Important Facts And Questions That Must Be Answered

Football bettors have a lot of questions about betting for football, and it’s only right that we answer them with the appropriate answers. These are some football betting facts for you:

1. What should I know before betting on football?

Before you start betting on football, there are a few things you need to do to make your betting experience more enjoyable. We listed some of the below:

• Find the best available odds in the market.
• Utilise matched and arbitrage betting.
• follow football tipsters and their predictions (to an extent)
• Keep a record of your bettings.
• Be content with the little wins and profits.

2. What is the most profitable football betting strategy?

There are numerous football betting strategies, which you can follow to consistently cash out in this industry. However, some strategies are more profitable than others:

• Early cashouts.
• Bet over 1.5 goals live.
• Find a league to specialise in.
• Bet on the draw, late goals, cup games, and live games too.

3. What is the secret behind football betting?

The secret behind football betting is wagering when you have higher than a 50-50 chance of winning a bet.  

Or if the chances are less than 50%, you can win and then the bookmaker will make the amount they’ll pay as good or better than the risk you took.

4. What are some sure tips for football betting?

There are some core football betting tips every serious bettor should always keep in mind if they want to succeed in this industry:

• Maintain discipline. The golden rule of betting is that you only wager an amount you can afford to lose.
• Utilise bonus offers.
• Shop around to find the best odds, don’t just accept the first one that comes your way.
• Do thorough research on odds, bookmakers, and football events.
• Always keep a record of your betting. It helps you track your wins and losses accurately.

5. What are the odds?

Odds show the expected profit on each bet you place. For example, a 10 euros bet at odds of 2.2 will get you a profit of 12 euros on a winning bet (10 X 2.2 – 10).

They also indicate the probability of a specific event happening. The lower the odds, the greater the probability of the event occurring ( odds = 1/ probability). 

Odds of 4 show that the event has a 1 in 4 (¼ = 25%) chance of happening, while odds of 1.2 correspond to a probability of 83% (1/1.2).

6. Do football odds vary by bookmakers?

Yes. the odds offered by bookies for a match might change due to unforeseen circumstances. But, once you’ve placed your bets, they cannot be changed, no matter what happens after that.

7. What are the different types of football odds?

Football odds can be represented in many different ways. Decimal or European odds are offered mostly in Europe, and they differ from American odds or British odds (fractional odds).

8. What does vigorish mean?

Vigorish (vig, juice, or overround) is the amount or commission a bookmaker charges bettors for each bet they place for a sporting event. 

This vig is part of your bet so you don’t have to pay an additional fee. It’s how bookies make their own profit from sports betting.

9. Who sets the odds and lines in football?

Odds and lines in football are set by oddsmakers or odds compilers in the employ of bookmakers. These professionals have extensive knowledge of football and their job is to ensure that the opening odds and lines are accurate.

Oddsmakers are the ones who also adjust the odds and lines based on a number of factors.

10. Why do different football betting sites have different odds and lines?

Odds and lines reflect the opinions of the odds compilers on what’s likely to occur in a sporting event. When the odds and lines vary in football betting sites, that just means that the oddsmakers have different opinions of a match’s or event’s outcome.

Lines and odds are affected by the volume of betting activity too. The dispersing of action always varies from one Prediction Site to the other, so this also leads to differences in odds and lines too.

11. Do own goals count in both teams to score?

Yes, own goals do count for both teams to score.

12. How does first goal scorer work in football?

In football, the first goalscorer is a bet on which a player will score the first goal in a match. Betting will be on players from both teams, but this bet is for the first goal of the match, no matter the team they play for. 

You can bet on the first goalscorer for a specific team during a match, although this is a different market. Factors like position and team they play for determine the odds of a player being the first goalscorer.

13. What does draw no bet mean?

In draw no bet (DNB) you are making a wager on which team will win the game. But as the name implies, if said match ends in a draw, then the wager becomes a ”no bet”, which means it is settled as a push.

14. What is double chance betting in football?

A double chance market in football lets you pick any two out of the three possible outcomes in a match and you win if either of them happens.

15. If two or more players tie for the golden boot, who wins it?

When two or more players tie for the golden boot award, some competitors will separate these top goal scorers, so that they can give it to one person. Other leagues like the Premier League, can let players share the award.

16. How many red cards are issued before a football match is abandoned?

For a football match to continue, both teams must have up to seven players on the field. This means they could both get four red cards each and still play. 

However, if five red cards are issued for one team, the match will be abandoned because the number of their players dropped to six.

17. Do goalscorer bets include extra time or penalties?

No, goal-scorer bets do not include extra times or penalties, these events do not count.

18. What is regular time in football betting?

A regular time in football betting includes two halves – 45 minutes each in length, giving a total match time of 90 minutes. 

At end of every half, the referee can add a few minutes to make up for lost time due to injuries, substitutions, pitch invasions, celebrations, etc.

19. What is the difference between no goal scorer and 0-0?

The main difference between no goal scorer and 0-0 is that own goals don’t count for first goalscorer markets. 

Due to this, if only own goals were scored in a match, a 0-0 bet would be a losing wager, while the no goalscorer would be a winner.

20. What do match odds mean in football betting?

Match odds give bettors the opportunity to bet on the team they believe will win a match. There are three options – home team win, away team win, and draw. All they need to do is accurately predict the right outcome and their bet becomes a winner.