One of the first concepts a person trying betting for the first time encounters is betting odds. The odds are the probability of the outcome of a bet, taking into account the bookmaker’s margin. You can use the odds to determine your possible payout and your profit if your bet is successful. If the game is predictable, the odds on favorites will be below, so the winnings will be small. The lower the probability of the event, the higher the odds offered, but the risk is accordingly very high. Margin in football betting odds is the bookmaker’s commission put into the odds. 

Types Of Odds

European Odds

For many players, the European odds are convenient. It is written in decimals, usually with two decimal places after the dot. 

British Odds

These betting football odds are written in regular fractions. Determine the potential profit when betting on British fractional odds by multiplying the bet amount by the value of the fraction. 

American Odds

Such odds are written as a whole number with a minus or plus sign. The plus American odds show the potential net profit for a bet amounting to 100 $. The minus American odds show how much you need to bet for a potential net profit of 100 $. 

betting odds example

Different types of margins 

Bookmakers are classified into three groups based on their profit margins: 

  • High margins: a profit margin of more than 5%;
  • 3-5 percent is a medium margin;
  • Low-profit margins: up to 3%.

How do I calculate the margin on the odds?

To be successful in sports betting, you need to know how to calculate the margin. The higher the margin, the greater the profit of the bookmaker over the distance. With equally likely outcomes, you need more than a 50% margin to be in the black.

Simple formulas for converting from one type of odds to another can be used. For example, this is the formula for calculating the margin as a percentage of the European odds:

(1 / O1+1 / O2+1 / On-1) x100, where O1, O2, and On are odds on single market outcomes, and n is a number of choices on this market.

How Сan I Convert Some Types Of Odds To Other Types Of Odds?

Everything is easy. To convert British odds (Ob) to European ones (Oe), use the formula:

Oe=Ob+1

Different American odds need different equations:

Plus OddsMinus Odds
Oe=Oa/100 +1Oe=100/(-Oa) +1
Oa – plus American odds-Oa – minus American odds
Oe – European odds

The Way How Bookmaker Companies Predict The Outcome And Create The Margins

The odds are computed in three phases by bookmaker companies.

  • The first thing is probability. To begin with, bookies rely on the work of analysts to evaluate the likelihood of an occurrence. Bookmakers either purchase data from analytical firms or rely on the advice of their workers;
  • The chances are calculated. The chances are calculated based on the outcomes;
  • Margin is being added. In order to gain an edge in the long run, bookmakers add a margin to the odds.

What Do You Need To Know Before Football Betting?

With fans and bettors alike, football is the most popular sport. It is the sport with which the majority of bettors begin. We’ll teach you everything you need to know about placing a winning football wager.

Features of Football Betting 

When it comes to football betting, there are a few fundamental guidelines that apply to all sports before understanding how to do betting odds work. The first and most crucial rule is that betting is a pastime, not a means of profit. As a result, you should not spend more money on the fun at a betting shop than you can afford. 

The following suggestions should be considered while choosing the best football betting on sports. 

  • Only bet on sports and tournaments that you follow and comprehend; 
  • Do not bet at random. Instead, analyze the event and research the match’s details;
  • Control your money and make logical wagering decisions.

The Main Rules Of Football Betting

Main rules of football betting

Learn about the many types of bets and how a bookmaker operates

Before you begin betting with bookies, you must first learn these things. In addition to the popular “home team win – draw – away team win” outcome, there are hundreds of alternative betting markets. You can rapidly go broke and lose the entire pot if you don’t comprehend it and start trying.

Keeping track of betting results 

You can get away with not keeping track of your bets if you just wager once in a while. Players who wager on football on a regular basis and at various betting shops must maintain track of their wagers. The date of the wager, the kind of bet, the odds, the amount, the bookmaker, and the result should all be included in the data. 

Records of bets are placed to assist in analyzing the game from afar and calculating earnings or losses. It is possible to identify markets with a drawdown and refuse such bets or improve your analytics by keeping track of the statistics.

Make use of bank management

Good bank management is one of the most important aspects of successful gaming. A player must determine how much money he is prepared to spend on betting every month and how that money will be distributed. This should be a sum you can afford to lose in the event of a run of bad luck, as picking a betting amount at random raises the danger of losing the entire bank.

Bet on leagues and events that you are familiar with

Making bets is simple in theory: create an account, verify it, make a deposit, click on the odds button, input the amount in the betting slip, and wait for the winnings. However, in order to have a decent and significant wager, you must bet on tournaments that you are familiar with.

The same goes for the various markets. Before betting on different markets, develop a strategy for one or two markets and hone your skills there. Otherwise, you risk losing a lot of money. 

Best New Zealand’s Betting Odds Football

We have compiled a list of bookmakers who offer good odds on football betting in New Zealand. You can see the results we have obtained from our inspection of these bookmakers.

Betway

According to several Betway reviews, this firm has a great reputation for betting odds football. We have compared their odds with other popular European bookmaker companies and found that they provide their clients with more beneficial odds than other ones. 

betway sport betting dashboard

888 Sports

According to all 888 analyses, this is one of the largest European bookies. As a result, you can be confident that 888 will continually provide you with competitive football betting odds. But, because we want to be certain, we decided to run a short odds comparison test and found out that the odds are literally similar to Betway’s ones. 

LeoVegas

For an upcoming rugby championship, we ran a short betting football odds comparison test between LeoVegas and a big online bookmaker. When it comes to backing the favorite, both bookies were equal in terms of odds, although it gives better odds for other selections. 

It should be obvious that LeoVegas should be considered in your sports betting selections.

Bet365

We’ve read a slew of positive Bet365 reviews claiming that this firm consistently offers some of the greatest betting odds available. However, we have to do our own rapid odds comparison test in order to provide you with our unbiased and fair Bet365 ratings. Finally, it demonstrates that the Bet365 evaluations that said this brand had outstanding odds were correct.

Conclusion

We hope that our review helped you to get into the world of football betting and football betting odds, and now you have a strong understanding of how to do betting odds work. Enjoy the process of betting and bet wisely!

Frequently Asked Questions

What is the best sport I can wager on?

There is no single answer that applies to everyone who reads this question. Often, the ideal sport to begin betting on is the one you are most familiar with. It might be difficult to pick which bet to put if you don’t grasp how a sport operates. Obviously, football is the plainest and most intelligible game for many people, thus many people begin betting on football.

Is it legal to wager on sports online in New Zealand? 

Yes. The only legal bookmaker companies in New Zealand are run by TAB (means Totalisator Agency Board). Many more operators use the Internet to provide sports betting services from other countries.

What exactly is TAB? 

Totalisator Agency Board is abbreviated as TAB. The New Zealand Racing Board has a division dedicated to it. It is the New Zealand government’s sports betting and racing organization.

What are the most popular football events I can bet on in New Zealand?

We have compiled a list of the most popular international football events. Here you may find:
FIFA World Cup 
FIFA Club World Cup
UEFA European Championship
UEFA Champions League
UEFA Europa League
Copa America
Copa Libertadores
AFC Asian Cup
FA Cup
Kings Cup
Italian Cup
Africa Cup of Nations