Finding the Best Sports Betting Odds
Odds offered by an online sportsbook dictate the amount your bet will payout when your selection comes in. If you are looking for an online sportsbook, it is important that you go for one that provides competitive odds. Bookmakers typically make their odds tight, and finding the best sports betting odds online can be hard with so many choices, so it’s important that you shop around for the most favourable odds to help you to make a profit sports betting. Our research over numerous betting site reviews shows that odds do vary but to avoid having 20 bookmaker accounts, the overall best odds can be found on this site:
Betting Site with the Best Odds
- Covers Nearly Every Sport
- Great Odds
- Fast Payments
- High Credit Card Acceptance Rates
Know how to Identify the Best Sports Betting Odds
To be able to select sites that offer the best odds, the first thing you need to know is how to read the odds! Many online sportsbooks provide odds in three formats – decimal, fractional and American, and it’s worth your while knowing how to read all three, so you can get the best value on your bets. At several sites you can view odds in the format you are most familiar with. However, a few online sportsbooks only provide one format for their odds. These sites can often represent hidden value, and it is important that you know how the format works.
These come with a decimal number which stands for the money you stand to win per $1.00 you wager. For instance, if a sportsbook shows 2.6 as odds, it means you can get $2.6 for every $1 you bet and win at the site. To convert decimal odds into their fraction equivalent simply subtract one – so odds of 4.0 on a decimal site are the same as 3/1 on a fractional site.
This too represents the amount of money a bettor is likely to earn for every dollar wagered if he wins. When a site provides fractional odds, break it down to decimals. For example, odds of 1/2 will be 0.5. Next, multiply the total amount you plan to wager, with the decimal odds, to find out the amount you can win. If the odds are those in the previous example and you plan to bet $400, you will get $200.
Like decimal odds, this format is easy to use. Sportsbooks may list odds as negative or positive numbers. In case the odds are negative, it shows that bettors will have to wager the amount next to the sign to get win $100. For instance, if a site shows -250 as odds, you will have to bet $250 to earn $100. On the other hand, when odds are accompanied by a positive sign, it indicates the sum you can win for every hundred dollars you wager. Positive odds are offered by sportsbooks on the underdog and negative odds on the favorite.
How to Shop for the Best Odds
Once you know how to find the best sports betting odds, you can start shopping for them. For most sports, Bet365 offers the best odds. For football (soccer that is), BetVictor is definitely also one of you best bets. They consistently offer the keenest odds. If you’re in the US your choices are limited, but Bovada is typically best. Here are a few factors to consider:
Select the underdogs
You are quite likely to find the best odds if you look for the underdogs in events. At most online sportsbooks, of course the odds for the underdogs are better than those for the more likely winners. In the case where you place a small bet on the underdog and it wins, you will naturally earn more than you would by wagering big on the favorite. Clearly, underdog teams do not win as often as the most backed team for a reason, so it’s more prudent to look for good value odds and, in particular, where a team is not massive underdogs or rank outsiders.
Opt for events with well-matched competitors
When competitors have the same or similar abilities, the odds posted on the events in which they participate will be quite good. This is because the likelihood of one winning is almost the same as that of the other. In such situations, sportsbooks will not be able to adjust odds to give them an edge. Odds are generally corrected for events in which competitors are not closely matched. Unadjusted odds are more favorable than those that are corrected.
Look for events where tie outcomes are possible
These events will be accompanied by some of the best odds. One of the sports in which tie odds are offered quite often by many sites is soccer. For the best odds, you can also pick sports competitions that are not big. In these events, the bookmaker doesn’t put as much research into pricing up the events and often makes mistakes. A few sportsbooks may offer good odds on events that are likely to draw a big betting volume, like the Superbowl.
(T&Cs apply for new customer offers)