Soccer is the most popular sport in the world. Over 3.5 billion people tuned in to watch the 2018 World Cup Championship. With that many fans across the globe, it shouldn’t come as too much of a surprise that when it comes to betting on sports, soccer is a huge hit. But how exactly does it work?
The way odds are set for sports betting has changed quite a bit over the years thanks to various technological advancements and increased interest. As online casinos hit the market and sports betting software improved, the way odds were generated started to evolve.
But with more and better technology being used in sports betting, does that mean it’s harder to be successful? Can you beat an online casino? Actually, you can. Continue reading to learn more about how some of the best casinos in the business set odds for soccer games, and what it means for how you will make your bets.
Understanding Betting Odds
Odds are what determine the amount you get on a winning bet. Contrary to popular belief, there is a lot more to betting on a soccer match than picking which team will win. Professional sports betters understand that there are far more odds to consider.
The best casinos on the net display soccer betting odds in three formats:
- American betting odds
- Fractional betting odds
- Decimal betting odds
American betting odds use a negative or positive sign. An American odds favorite is shown with a negative sign to display how much you have to bet to win $100. An American odds underdog is shown with a positive sign and displays what you can win from a $100 bet.
With fractional betting odds, if the numerator (top number) is smaller than the denominator (bottom number), that team is the favorite. If the top number is bigger than the bottom number, it means that team is the underdog.
You then use this formula to determine how much you can win:
Profit = (Numerator / Denominator) * Bet
For decimal betting odds, you find out the total money returned, rather than the profit. Typically, if the decimal next to a team’s name is less than 2.0, they are the favorite. If the decimal is greater than 2.0, they are the underdog.
To figure out how much money you will get back, multiply how much you bet by the decimal odds. Then subtract the amount you originally bet from the total money you got back to see how much of a profit you received.
How Are Odds Determined?
Now that you have a better understanding of how to read soccer odds, let’s get into how online casinos determine the odds for a soccer game. The point of odds in sports betting is to encourage equal interest on both sides of a betting line.
These days, thanks to the help of the internet, information about anything and everything is right at our fingertips. Oddsmakers use this to their advantage when comparing and evaluating teams. When creating betting lines, oddsmakers can factor in everything from team records and weather to individual player statistics and injury reports. They combine all this advanced information and factor in public opinion to determine exactly how a match should play out.
Essentially, an oddsmaker is a risk analyst that figures out the probability of a specific event happening, then translates that probability into odds. Each oddsmaker, or bookie, had their own unique algorithm they use to determine odds. Such is still the case with online casinos.
Each online casino uses its own algorithm to determine the odds for a soccer match. As we mentioned previously, many variables go into determining the odds. They consider various aspects of a team’s performance in the past, as well as any patterns or consistencies that give them an idea of what could happen in the future. For an online casino, they strive to calculate a spread that offers the best return.
Top Online Casinos for Betting on Soccer Matches
Deciding where to place your bets on an upcoming soccer match is a decision that shouldn’t be taken lightly. With so many online casinos to choose from, we made it easier for you to pick one to bet on. The following online casinos are among the highest-rated online casinos in the industry:
- Sports Betting
Visit each online casino to get an idea of which one may be right for you. Or, do as many professional sports betters do and place your bets on several different sites to give yourself a better chance of winning. All the online casinos listed above have solid reputations and great customer reviews.
How to Bet on A Soccer Match
Once you have a more thorough understanding of how odds are set for soccer matches, you’ll likely want to try your luck at sports betting. Fortunately, there are several ways to bet on a soccer match and online casinos have made it easier than ever.
Some of the more popular types of soccer match betting include:
- BTTS (Both Teams to Score): You decide if both teams will score
- Total Goals: How many total goals will be scored in the match?
- Half Time/Full Time: Which team will be leading at half-time and full-time?
- Correct Score: Exactly how many points will be scored during the match?
Once you place a bet on a soccer match, you can use the algorithms mentioned previously to determine how much you can potentially win.