Every event has odds. They determine the winnings awarded to the player if the bet wins. To calculate the winnings, just multiply the odds by the bet amount.
You bet EUR 100 on an event with odds of 3.00. If the bet wins, you win EUR 300 (100 × 3.00 = 300).
Several times a week, Fonbet bookmakers select the top matches from different sports and increase the odds for them.
What do odds depend on?
They depend on how likely an event is going to take place. Bookmakers estimate the likelihood of each event in a match, such as a win by one of the participants, a draw, or the number of goals and violations. The less likely an event is to happen, the higher the odds.
What are the different types of odds?
There are six different types of odds. If you place bets with Russian betting companies, then you just need to know one type, the decimal. The other types are not used.
European odds are written as an integer with a fraction, for example 1.50, 2.15 or 3.00. It shows by how much the amount you bet will increase if the bet wins. To calculate the winnings, just multiply the bet amount by the odds.
Hong Kong odds are a variation of European odds. They look the same, but only show the , not the total winnings. If you add 1 to Hong Kong odds, then you get the European odds.
net earnings
Betting companies in England use British odds. They look like a simple fraction: 1/5, 3/2, 7/10. British odds show the relation between the net winnings and bet size.
With odds of 1/5, for every
EUR
5 you bet, you will potentially win EUR
1. If you bet EUR
50 and the bet wins, you'll win back your EUR
50 plus an additional EUR
10.A selection with odds of 3/1 means that you will potentially win EUR 3 for every EUR 1 bet. For a bet of EUR 100, your net earnings would be EUR 300.
American odds resemble a whole number with a plus or minus, for example, +100, -750. This is the most confusing way of displaying odds.
- American odds with a minus show how much you need to bet to win a net profit of EUR 100. For example, with odds of -300, you need to bet EUR 300 to profit EUR 100. If you bet EUR 30, then you would win EUR 10.
- American odds with a plus sign are the opposite of the minus odds. They show your net profit for betting EUR 100. For example, with odds of +150, you would earn EUR 150 for every EUR 100 bet.
What is an overload?
An overload is when odds are lowered because of a large number of bets being placed on the same match selection. During an overload, the betting companies control cash flows by reducing the odds of the popular selection to make other events look more appealing.
There are three types of overloads.
- Organised — when an increased number of bets is known in advance, for example, after the news about an injury of a leading player or a conflict in the team. Organised overloads also occur in the event of fixed matches.
- Not organised — when there is an obvious favourite in the match. In these matches, most players prefer to bet on the player with the highest chance of winning.
- Regional — these overloads depend on the national preferences of betting company customers. For example, in Russian betting companies, the outcomes for the victory of Russian participants and national teams in international tournaments are always overloaded.
How often do odds change?
It depends on where you place bets: in Prematch or Live.
- In Prematch, the odds change several times a day. They are set by the betting company's analytical department based on the available information and balance of power. If new information emerges, the odds change. For example, if a team leader is injured, the odds of the opposing team winning will decrease, and if it rains, the odds for total goals will increase.
- In Live, odds change several times a minutes. They depend on what is happening in the game right now, the actions of players, rule violations, goals, and yellow and red cards. For example, if one of the teams scores a goal, then the odds for them to win fall because the probability of this team's victory increases.
Can odds change after bets are placed?
Only if one of the selections is settled as a . If a is pushed, the entire bet slip is settled with odds of 1.00. When a bet in a
push
Single bet
Multiple bet
is pushed, the odds of the entire coupon are recalculated.
- You place EUR 10 on aMultiple bet with three selections with odds of 2.00, 2.00 and 3.00.
- The total bet slip odds are 12.00 (2.00 × 2.00 × 3.00), so your potential winnings are EUR 120.
- The event with odds of 3.00 was resettled as a push. Now its odds are 1.00.
- The total bet slip odds were recalculated taking into account the push, and now the total is 4.00 (2.00 × 2.00 × 1.00). Potential winnings are now EUR 40.
The higher the odds, the better the bet?
Not exactly. High odds help you to earn a large profit, but the higher they are, the higher the chance of losing.
Let's consider the dependence of odds and the winning amount taking two bets as an example.
A bet with odds of 5.00 will win you 5 times the bet amount. Its chance of winning is 20%. That means that 4 out of 5 bets with these odds loses.
Bets with odds that are too low are also rarely beneficial. When betting on selections with odds below 1.50, the winning amount is less than the bet size, so to stay in the black, you need to win more than 50% of your bets.
What are the best odds to bet on?
The optimal odds are around 2.00. In this case, winning doubles your bet amount, and the chances of winning are high enough to win at least every second bet. If you choose higher odds, then you run the risk of losing often, If you choose lower odds, your pot will grow too slowly, and to win back one loss you will have to win more than one bet.