Betting on sports is becoming more and more popular in the world. This is largely due to the development of the Internet and technology. After all, today there is no need to go to the office of a betting company in order to place a bet. All this can be done without leaving home. To make a bet, you only need to have a computer or smartphone with Internet access. In addition to the site, large and reputable bookmakers, such as Favorit has its own application for smartphones. So it is possible to place bets, view analytics and much more directly from your smartphone.
How does sports betting work?
> The 1N2 bet
We cannot explain what a rating is without clearly defining what we are talking about.
Betting is like betting money on one or more possible events in a bet. So there are at least 2 possibilities on a bet. Very often there are even three, as on the most common bet the “1 N 2”.
Concretely for this type of bet, it will be possible to bet on :
a home win (1)
a draw (N)
an away win (2)
> The different types of bets, on all sports
There are many other types of bets than the classic “1n2”.
Concretely for this type of bet, it will be possible to bet on :
or example + or – of goals or points scored (otherwise called over/under), or the first goalscorer or scorer according to the sport.
In reality there are many different types of bets available on all sports betting sites.
Above all, these types of bets are very diverse and adapted to the sport in question. It is therefore possible to bet on the number of points or sets in tennis, or even to make handicap bets in team sports.
Understanding sports betting
> How do sports betting odds work?
The odds are therefore a multiplying coefficient, which is defined by the bookmakers. It is linked to notions of probability for a sports event. Basically in sports betting, the odds are the probability that an event will happen or not.
Online sports betting sites therefore determine the height of the odds according to the risk they incur. They adjust the odds according to the number of bettors who have placed a bet on a particular outcome.
If your bet proves to be correct, that odds will be multiplied by your bet and you will get your winnings.
- The most classic sports betting format is the one you all know. It is also the one you can find in the odds comparator on our site, it is the European format.
- The odds are presented in decimal form for example 1,02 1,10 3,65. By convention, French bookmakers limit themselves to two digits after the decimal point.
- The closer the odds are to 1.00, the more likely it is that the event will occur. But the lower the odds, the less profit and winnings you will make.
- The bookmaker will automatically multiply the bet by the odds(s) so that you can see directly the expected payout for a bet. If you are satisfied with the result, you can confirm it by pressing confirm.
Be very careful and sure of your bet because you will not be able to cancel it.
> Explanation: the calculation of odds in sports betting.
In this example we have chosen a Champions League match proposed by the bookmaker PMU.
We will assume that the bettor will bet 10 dollars. on this 1N2 bet, so the different possibilities are quite simple to understand.
If you choose to bet on Atletico Madrid winning. And if the latter actually wins the match. You will pocket 10 x 1.3 = 13 dollars. Deducting your bet, your profit is therefore 3 dollars..
This is always better than nothing, but it makes sense because, as we saw earlier, the odds are linked to a probability. Since the bookmaker considers the victory of this team very probable, he has chosen to offer a low level of odds.
Do you want to play a draw? In this case, and in case of a good result you will get 10 x 5.2 = 52 dollars., or 42 dollars. profit. Well already that’s a lot more money coming into the pot. But of course the probability is slim that the game will end in a draw.
On the other hand, if you try to win the visitors: In case of good results you will be able to collect 10 x 12 = 120 dollars. So if you withdraw the 10 dollars bet, you will get 110 dollars profit.
Of course, as you can imagine, if the site offers you such high odds, it’s because it considers the chances of Eindhoven’s victory to be very, very slim.
If you are looking for the bookmaker with the highest odds on soccer.