How to Read British Betting Odds in a Way That Works for You

When it comes to sports betting, many people think that the odds available in Britain are pretty good. You may have heard of the term ‘bookies’ when it comes to sports betting, and that is probably because in British gambling parlance a ‘bookie’ is the person taking your bets. If you are reading this, then it may be that you are planning on placing some British bets in the near future. However, if that is the case, then you may be wondering how to read the odds presented to you by the bookie. Will they help you make more accurate wagers? Will you end up losing more money because you don’t understand the odds? Let’s take a look.

Know Your Role

The first and most important thing you need to do if you are going to be placing British bets is to familiarise yourself with the terminology. Odds are presented to you in a variety of ways, mostly in decimals, with two numbers usually separated by a decimal point. For example, 1.6 is the decimal equivalent to 1.6 – 1 = 1.0, or 1.60. This means that the favourite has a 1.6 – 0.0 (1.60 to 0) advantage over the underdog. The favourite is the player that the bookie thinks will win the match, while the underdog is the player that you or I or another bookie think will win. In this case, the favourite is Arsenal and the underdog is Newcastle.

Odds Are Only As Good As You Make Them

This point is particularly important if you are a first-time or even a returning sports bettor. Odds will always be in favour of the house, or the organization placing the bet, and it is up to us as the bettor to make them work for us. The way to do this is simple – if we believe that the house is trying to con us, then we can adjust our betting tactics until the odds are in our favour. For example, if an outsider has never won a major sporting event, then it may be best to bet against them. The same goes if they are betting on an event that they have no relevant experience in. In this way, you can ensure that the odds are always in your favour and you make the most of it.

Odds Can Vary

You may have heard about ‘scams’ related to betting where the odds are either rigged or easily manipulated. It is important to remember however, that sometimes the house can get it wrong as well. If the favourite is clearly superior to the underdog, then it is only fair that the odds should reflect this. In some instances, a mistake by the bookie may even result in the odds switching in favour of the underdog. It is also possible that the house could ‘dance’ on the numbers, manipulating them until they ‘feel’ right for the particular event. In all these instances, you must keep an open mind and research the odds closely before placing any bets. In most cases however, you will be able to tell that the odds are favouring one team or another and it is a matter of applying what you know about sports and the event itself to put money on the side you believe in.

Don’t Forget The Psychology Behind The Numbers

Many people bet for the thrill of it or because they feel that something is owed to them. In these cases, the odds may not mean much and it may even be better for you to focus on other things, like psychology or team spirit. Some people, myself included, bet because they enjoy creating situations where they feel that they have an advantage, whether it is psychological or physical. If you are one of these people, then the odds may not mean a great deal to you, but it is still important to remember that they are there and that you do have the upper hand when it comes to making a wager.

Take Advantage Of Betting Exchanges

Some sportsbooks, mainly online ones, offer a ‘betting exchange’ feature. This allows you to set up an account with several bookies and make simultaneous bets with them. Most of the time, the betting exchanges are simply a way for the house to make some money off of people they couldn’t normally have as customers, so be careful when using these types of services. You should also be weary of betting exchanges in general and ensure that you are using a safe and secure location to conduct your business. Finally, make sure to compare all the different offers before you make a decision. You may end up settling for less than you’re worth if you don’t do your research first.

Learn To Read Football Results

If you are a football fan, then it would be a great idea to learn to read football results. Doing so can dramatically improve your odds of winning. The way this works is fairly simple. Just remember to keep in mind the following points when reading football results: