Odds in football betting refer to the exchange rate of money that the bookmakers have to pay to the winning players after each match. Each bookmaker will have different payout rates and formats. Let's explore odds and the most accurate way to analyze odds running through this article with win tips
What is Odds Running?
Before answering the question of what odds running is, you need to understand the meaning behind the name of this type of bet. In the simplest definition, odds represent the currency rate, the conversion rate of money that players will receive based on the bookmakers' payout policies. Odds are provided by bookmakers before each match to give players a basis for placing bets that are appropriate for their abilities and the current situation.
Running, in this context, means in real-time. Odds Running indicates the fluctuating odds ratio based on the actual time of the match, which means analyzing the odds as soon as the match begins. At this point, the bookmaker will take your betting slip at the time of odds closing and compare it with the final result to determine whether you win the bet or not.
Bookmakers rely on the team's match history, current form, and performance in previous matches to provide Odds Running ratios. Currently, there are 5 types of Odds Running ratios used by bookmakers:
HK ODDS (Hong Kong Odds): Hong Kong Odds do not display the amount of winning or placed bets. The value is formatted greater than 0.0, and the formula to calculate the winning amount is: (Placed Bet Amount x Hong Kong Odds) + Placed Bet Amount.
MY ODDS (Malay Odds): Malay Odds display both the bet amount and the winning amount in both positive and negative numbers. The formula to calculate the bet amount is: (Placed Bet Amount x Malay Odds) + Placed Bet Amount.
EU ODDS (European Odds): European Odds always display both the bet amount and the winning amount for players. However, European Odds have a value format greater than 1.00, so players need to use the formula to calculate the amount they will receive: European Odds x Placed Bet Amount.
US ODDS (American Odds): The odds ratio for the US is similar to Hong Kong Odds. The formula to calculate the bet amount is: -1 / Hong Kong Odds.
ID ODDS (Indonesian Odds): Indonesian Odds are similar to Malay Odds in terms of displaying both positive and negative numbers, but they differ in that Indonesian Odds only display values from 1.00 onwards. The formula to calculate the winning amount is similar to MY ODDS.
Based on the odds table, players have the right to choose the most suitable type of bet. The odds ratio corresponds to the winning ratio, so players should thoroughly research the information before making a choice.
How to Win with Odds Running
Analyzing odds is one of the secrets to increasing your chances of winning when it comes to Odds Running. In this type of bet, the bookmakers have an advantage due to the players' mentality of winning or losing, without any specific strategies. Therefore, to effectively play Odds Running, let's refer to the following recommended ways:
Observe before placing bets: Before officially placing bets, players should observe and learn about the odds and the payout rates. Additionally, players need to have an overall view of the match to understand the overall playing situation of both teams. By doing these two things, you will have a basis for considering the potential winnings when using a specific type of Odds.
Divide the match results: If you choose European odds, when analyzing the Odds, there are three possible outcomes: win, lose, or draw, each with a probability of 33.33%. However, in any type of bet or match, bookmakers always want to have an advantage. Therefore, dividing the match results based on the percentage ratio for the Odds may be higher than 100%, not the initial estimate of 33.33% from the players.
Analyze Odds based on predictive abilities: When engaging in Odds analysis, players need to focus intensively and keep a calm mind. Additionally, closely monitor the developments on the field to assess which team has the higher advantage. From there, make accurate predictions about the Odds and make appropriate decisions.
Play by assessing whether the Odds Running is real or fake: You can compare the correlation of strengths between the two teams and consult information to determine whether the bookmakers' over and under odds assessments are reasonable or not. If they are not reasonable, the Odds Running is likely to be fake, and you should avoid placing bets.
Play Odds Running by timing the running odds: The closer it gets to the end of the match, the more stable the running odds become. At this point, players can place bets, but the payout ratio will not be as high as when the initial betting decisions were made. Therefore, grasp the information carefully and make your own assessments.
Placing bets from the start of the match and sticking with that decision until the end can bring the potential for high winnings, but it also carries the risk of losing everything if you don't have enough decisive abilities. In the case of unexpected surprises during the match, you should change your bet immediately when entering the second half.
Important Notes when Analyzing Odds Running
In addition to the strategies that bring a high chance of winning in Odds Running, players should consider and keep in mind some essential notes when analyzing this type of bet.
For major tournaments, players should gather information about the match, especially the team's form, lineup, and other relevant factors. Additionally, closely monitoring the bookmakers' odds is crucial for analyzing Odds Running. The bookmakers provide odds approximately two weeks before the match takes place. It's important to gather all the relevant information to have the most objective assessment of the match situation.
For regular matches, the bookmakers offer odds, specifically the handicap odds, one day before the match. As the match approaches and starts, the Odds fluctuate continuously during this period. Players should pay attention and thoroughly understand the types of bets they are about to place to minimize risks.
To be confident and increase the chances of accurate betting, players should not overlook analyzing the match by studying information such as form, history, starting lineups, key players, tactics, and more.
Regarding Odds, the odds ratios will constantly change, and players need to keep a calm and clear mind to monitor the match developments and make appropriate adjustments.
Players should avoid placing multiple Odds bets on the same day. Placing multiple Odds bets on the same day is a risky action because it becomes difficult to focus on each bet and make accurate decisions. Additionally, it becomes challenging to grasp the running odds effectively.
Knowing when to stop is also one of the crucial considerations when placing bets. Before engaging in Odds analysis and football betting, you should set a limit for yourself to avoid unfavorable situations. Additionally, evaluate and determine whether you can achieve a victory or not and then make reasonable betting decisions. Players should avoid choosing challenging Odds when they are not confident enough.
You can apply probability statistical methods or algorithms to calculate the betting probabilities based on the provided odds by the bookmakers.
Odds Running is an attractive type of bet that can bring significant winnings to players if they win. However, this type of bet also carries high risks if players do not know how to analyze odds running and consider the important notes when choosing Odds Running. Wintips hopes that this article has provided you with specific and useful knowledge about playing Odds Running. Good luck!