What are sports betting odds?

First of all, it is important to understand what odds are in the world of sports betting. Being a numerical element, odd is the value of a bet estimated by the betting websites. Directly related to the probability of occurrence of an event, the value of an odd will be adjusted according to the odds of a bet to be validated. The more likely the victory during a sports match, the lower the odds offered by the betting sites. And vice versa.

Let’s take for example the football match between Flamengo and Fluminense, for which the red-blacks are the big favorites. In this context in favour of Flamengo, the proposed football odds for the bet “Flamengo win” will be relatively low (for example 1,30), unlike the proposed bet “Fluminense win (5,00 for example). And the same reasoning will be valid for all sports, from volleyball to basketball, passing through tennis. The difference between the value of the offered odds will always be related to the probabilities of an event to happen, according to the bookmakers. This is logical.

To calculate these odds, and therefore indirectly the odds of the bookmakers, several parameters are considered. First of all, the statistical aspects surrounding the match are taken into account by the professionals in sports betting. For example, to define the value of the odds of a tennis match between Novak Djokovic and Roger Federer, various factors are analysed, such as the performance of the players in their most recent matches, the performance of each of the competitors in the same tournament, the result of the last direct confrontations and also the number of sets lost during the last few weeks. Add also other more peculiar components – such as the motivation level of the tennis players, the context of the match, the news surrounding each player, or the presumed rivalry between them – and you get a very complete calculation from the betting sites to determine the odds. The same reasoning is valid for football, basketball and volleyball odds.

Last but not least, you should know that the odds are never definitive and that they can fluctuate according to different parameters related to the game of your choice. For example, in an online football betting, if Flamengo win against Fluminense is offered at 1.30 five days before the match but its two top scorers get injured two days before the match, the odds can be reassessed by the punters (e.g. 1.80). The same reasoning is repeated after the start of a match, when betting live (live odds). On the other hand, if in the victory of Fluminense against Flamengo, the odd offered before the game is 5.00, but the team of tricolor opens the score in the Flamenguista field, the odds offered for your victory will logically be devalued on the betting sites, since the odds of the bet increased. Do not disregard this in order to always place your sports bet at the best possible moment.

Why compare the odds of the bookmakers?

Calculated by the bookmakers according to the odds, the main interest of the odds is to determine the possible gains of a sports bet. In fact, it is multiplying the odds by the value you want to bet, that you will know the potential earnings of your coupon (odd x value of the bet = earnings). Imagine you want to bet \$ 100 with an odds of 1.60. In this situation, you would win \$160 in case of a winning bet. The higher the odds, the greater your potential winnings, which is why you should always compare odds before placing a bet.

As you know, odds can vary greatly between bookmakers in Brazil, even if they are for the same bet and the same game. Specifically speaking, it would not be strange if you came across an odds of 1.50 on a betting site for a Flamengo win against Fluminense, against an odds of 1.40 on another site. The point of comparing the odds is therefore clear: always take advantage of the best value to expect the best gains in case of success. It is with you in mind that we have created our Sportytrader odds comparator.

How to benefit from the best odds every time?

Finally, the last piece of advice we can give you, multiply your subscriptions on betting sites! What is the point of using our odds comparator if you are not registered with the bookmaker who offers the best football odds, the best tennis odds, the best basketball odds or the best volleyball odds? If you are not registered with a variety of bookmakers, it would do you no good except frustrate yourself.