The odds of a football match may be familiar to you. They typically appear in the form of −2.5 or −3 in most English football betting shops. When you bet on sports like football, odds of this nature simply mean that if you wager £1 on Arsenal to win, they will cover the cost of your bet in the form of three £1 wins.
However, if you visit betting exchanges such as BetClic or MyBookie, you will notice that the odds offered for upcoming matches can be slightly different. For example, the odds for Liverpool v Man Utd may be +3 rather than −2.5. This does not necessarily mean that Man Utd will automatically win every game they play. It means that the odds are set accordingly – in other words, Man Utd is 3⁄4 likely to win when playing against Liverpool.
What is this all about? Why are some odds set higher than others, and why should you care? Let’s take a quick look.
The Evolution Of Football Betting
The short answer is that over the last few years, the sports betting industry has changed thanks to the growing popularity of online betting. Thanks to the growth in mobile betting and app betting, individuals now have the ability to place bets from the convenience of their smartphones. The advantage of this is that the oddsmaker can track how individual bettors are performing and adjust their odds accordingly.
As mobile phones have gotten smaller and more sleek, the ability to place high-quality wagers from almost anywhere has become commonplace. What was once the domain of sportsbooks at bet-on-football.com has become commonplace across the globe. With hundreds of thousands of dollars wagered daily, the odds have evolved to keep pace with the changing dynamics of the industry.
For instance, take a minute and search for your nearest football match on Google, Bing or Yahoo. You will notice that the first three results all link directly to online betting sites. In other words, the search engines know exactly what you are looking for and how seriously you want to be involved in the outcome of the game. When it comes to finding odds, the results are there for you to see.
Odds are one part of the equation, but it is essential to remember that bookmakers are also in the business of making money. This is why they will often try to entice you into placing bigger bets. When you are betting on sports, the bookmaker’s incentive is to get you to lay down larger sums of money. The truth is that if you put down a £10 bet on Arsenal, they make £20 worth of money. Not such a bad deal, right?
The Purpose Of Odds
Before we get into the nitty-gritty of understanding +3 and how it impacts your daily life as a bettor, it is important to understand the role that odds play in a game of football. Basically, you should know that the odds of a team winning are set by the bookmakers to entice sports bettors to place bets on the game. Bookmakers set the odds as a way of making money from the gambling community.
For instance, if you bet on Manchester United to win the Premier League, the odds will be adjusted in their favor. In other words, you are essentially playing the role of middle man in a game of chance. You are providing the platform for sports bettors to have their wagers placed, and in turn, you will be rewarded with a small cut of the action.
This may surprise you, but middlemen – known individually as ‘bookies’ – are crucial to the sports betting industry. They lay the odds and manage the betting pools, but they do not actually place the bets. This enables them to stay relatively immune from prosecution and keep their businesses alive in an otherwise highly regulated industry. Essentially, they act as a buffer between the public and the more refined aspects of sports betting. They provide the infrastructure for individuals to bet on their favorite sports, while maintaining a safe and secure environment for doing so.
Where do things stand today? As you have probably guessed, the industry has evolved. Thanks to the growth in mobile phones and the ability to place wagers from almost anywhere, the world of online sports gambling has completely changed the face of football gambling. Bookmakers and odds shops alike are now firmly established on the web. This has not only enabled them to stay relevant, but has given birth to something entirely new: the digital bookie.
As a result of the growth in the use of technology and mobile phones to place wagers, the face of football gambling has changed. Individuals can now wager on the go, using their smartphones to access the odds and place bets as easily as possible. Thanks to this, bookmakers can now access a potentially larger audience than ever before. With increased accessibility comes the ability to tailor their offers and entice more people to bet on their games.
This is where the +3 in Arsenal odds comes in. As mobile phones have evolved to such a large extent that they can place a wager almost anywhere, individuals are now able to do their research and make educated bets anywhere. It is now possible to place an informed wager anywhere, anytime. This has created a new market for bookmakers: those who can provide odds for mobile phones.
This is why, whenever you see odds that end in +3 or higher, you should feel confident that you are playing on the up and up. Odds of this nature mean that you are accessing professional and reliable sources who have verified the information to make sure you get the correct results. In other words, if you ever want to bet on sports, you should feel confident using a mobile phone to access the information you need. Odds of this nature should not be taken lightly. They are a sign of quality and reliability, and you can be sure that you are playing on a fair platform.
The Importance Of Odd Sets
Now that you have a general understanding of what +3 means, it is important to remember that not all odds sets will be created equal. There are certain circumstances where the odds may be higher, and there are others where they may be lower. If you want to place a successful bet, you must familiarize yourself with the various factors that could increase or decrease the perceived value of your wager. This way, you will be able to place a wager with the correct expectations and avoid being taken advantage of by a bookie.
Factors That Could Increase The Odds
There are many reasons why a team might have unusually high odds set for them. The most obvious factor is that the team is performing well and the bookmakers want to encourage people to put money on them. Another reason could be that the bookies want to discourage people from placing a wager on a certain team or player. In this case, they might set the odds high to make sure that you do not place a wager on a team or player that they do not want to promote.
Factors That Could Lower The Odds
On the opposite end of the spectrum, you will find teams or players that are in a very bad state of form or injury. In these cases, the bookies may decide to set the odds low to discourage people from placing a wager on them. Alternatively, a bookie may decide to set the odds abnormally low because they want to discourage people from placing a wager on a certain team or player. In any case, keep in mind that these are just some of the reasons why the odds may be set a certain way for a particular team or player. There are always exceptions to the rule, so never assume that the reasons behind the odds are nefarious or unlawful.
The Realities Of Mobile Betting
When we think about odds and betting, we often think about sports betting. However, the truth is that mobile phones and the internet allow individuals to wager on anything at anytime. This includes football. While it is still early stages in the growth of online sports gambling, it is important to remember that odds are simply a tool to be used in a game of chance. They are there to help you make the right decision and place a wager in the most effective manner possible.